Owning Up to Leadership Failures and Political Responsibility
This morning, I listened to the British Prime Minister’s speech announcing his planned resignation in July. As a keen observer of global politics, my primary interest lies in examining what successful nations do right and the structural factors that cause others to lag or struggle with governance and development.
The Prime Minister’s planned resignation comes amid mounting public frustration over a stagnant economy, a worsening cost-of-living crisis, and a perceived failure to honour key campaign pledges.
Looking inward in our dear country, we can recall our own situation. Before 2015, our President on several occasions championed the call for the then President Goodluck Jonathan to resign over economic hardship and insecurity affecting Nigerians. During the Chibok school kidnapping incident, he demanded the immediate resignation of President Jonathan, arguing that the government had failed in its most fundamental duty of protecting lives.
During the 2023 election campaign, President Bola Ahmed Tinubu made several promises, including improved electricity supply. He also challenged the electorate not to vote for him for a second term if he failed to deliver on those commitments—particularly in providing stable power, fighting corruption, and improving the welfare of Nigerians.
At present, however, these conditions have worsened. Electricity supply remains unreliable, insecurity has intensified in many areas, including kidnappings, and economic hardship has deepened rather than eased. Similar concerns are reflected across other critical sectors such as security, infrastructure, transportation, and anti-corruption efforts, all of which have regressed. We are in the worst possible condition.
I, therefore, join Nigerians of goodwill in calling for the resignation of the President over monumental failure in governance. Such a gesture would help enthrone a political culture rooted in accountability and responsibility, rather than further entrenching impunity. It would also send a powerful message that public office is a sacred trust, not an entitlement, and help build a society in which future leaders understand that failure carries consequences. Only by ending the culture of impunity can we secure a better future for the society our children will inherit in a New Nigeria that is possible. -PO
I am having a cognitive dissonance with Lagos. I’m very careful not to say Nigeria. We all know the economy is bad (this is probably my worst year as a business) but there’s also a certain way i’ve seen money being spent that is isn’t matching with the reality on paper.
20 something year olds are joining mouth to say the benefits of the macroeconomic policies won’t show now but in kinikan years. Forgetting that the almost 40 year olds said the same thing about a decade ago while watching their futures get eaten up.
When the state is weak, society needs families to be strong. When the state is strong, you can afford weak families because there will be social safety nets. But even then, strong families compound the advantage of strong states, while weak families get by.
What I don't understand is how in a country like Nigeria where the state is already in dire straits, you also see people advocating weak families.
It's like you people don't want to get out of the mess, at this rate. Strong family ties have helped us skate by. If we also lose that on top of the existing situation, it's gonna be a deadly day.
Things I’m picking up from this IMF report. Our broad money velocity is 3.3
That means that in our economy we cycle through our broad money supply 3.3 times in a year. That is actually high. In developed economies it’s typical to have that number at 1.1 to 2.
3.3 means money doesn’t sit long in accounts. As it’s coming in, it’s going back out.
Paychecks are spent as they hit. Fast moving consumer goods and consumption economy.
Banking depth is low and informality is high.
Are they being forced to host the World Cup? It's the world cup which means people from all over the world.
How come FIFA doesn't have any pull on this? Can they just deny a Visa to the best players on the opposition teams in their group?
Everyone is complaining about how to raise money. Please, if you want to raise money as a Nigerian business and you have between N100m and N1B in revenue, you're profitable, and have at least 3 years of financial records please send an email to [email protected]
We would like to speak to you.
In your email include the name of your company, the location and what it does.
We have many people in Nigeria and diaspora willing to give you money.
Don't say we never did anything for you.
(Please retweet for reach. Thank you).