By Geraldine Onyenweaku
2019 has been a bumpy year, and one plagued with lots of trials on all fronts, but then also delivering some successes, no matter how little. This gives hope that with determination and hunger for the right things, the country might find its right path to peace and progress. But for that to happen, it requires all hands on deck and a lot of hard work.
On the political front, it has indeed been a bumpy ride. Many Nigerians are still not satisfied with the state of their democracy given the alleged massive rigging that characterized the last election which saw President Muhammadu Buhari re-emerging as the president of Nigeria for a second term in office. This has subsequently raised doubts in the minds of many Nigerians about their political system. The last national election was fraught with a lot of allegations of rigging and outright ballot box snatching. There were also reported incidents of police intimidation, leading to the death of innocent citizens, and ballot box stuffing at a scale not witnessed before in the history of the nation. This led to an erosion of the confidence of the people in the electoral system that brought to the fore the present crop of leadership, thus bringing about a call for the reform of the electoral system and the Independent National Electoral Commission, INEC, the umpire of the elections, whom majority of the people believe has been greatly compromised and lost all element of independence.
In the judiciary, which is seen as the last hope for the common man, there is a ray of hope. In the last lap of 2019,, we saw the judiciary which many were afraid was beginning to lose its independence, grappling to retain its authority. The last drama that played out leading to the release of the former security adviser, Sambo Dasuki and the publisher of the Sahara Reporters, Omoyele Sowore, who had been held in disregard of court instructions in the past four and half years and five months respectively, by the executive arm, was a welcome development. That the government could finally bow to public pressure and obey court orders was, for many, a huge relief as it gave hope to many that the country could be returning to the right trajectory in its badly shaken democratic process once again. However, there are still calls from legal luminaries and commentators like Femi Falana, SAN, and other Civil Rights Organisations for the release of many others still held in detention, and in defiance to court orders.
On its part, the Economic and Financial Crimes Commission (EFCC) recorded seemingly notable strides in its fight against corruption. In June, serving senator and former governor of Plateau State, Joshua Dariye, was found guilty and sentenced to 14 years’ imprisonment for fraud and misappropriation of the state’s US$3 million ecological fund. The EFCC in May also secured the conviction and 14 years’ imprisonment of Jolly Nyame, a former governor of Taraba State, for fraud and the misappropriation of over US$4million in state funds. Also, Orji Uzor Kalu, former governor of Abia State and a serving senator, recently joined the list of former governors convicted for fraud during their service terms as governors.
Another bright spot is the early passage of the 2020 budget by the National Assembly. Many are of the belief that the early passage will eradicate the delays associated with the late passage of the budget witnessed in previous administrations. This is largely due to the increased cordial working relationship between the executive arm and the legislature. With this development, Nigerians are likely to expect quick implementation of capital projects. While this is a welcome development, political pundits have, however, warned of the danger in having a rubber stamp legislature.
For the economy, it has been a mixed grill of sorts. The long desired surge in economic growth still is a long way in coming, despite government’s best wishes and hopes. The country has still not been able to achieve the very vital Foreign Direct Investment, FDI, needed to jumpstart the economy. This is owing to many factors, one of which is the lack of the enabling environment for businesses to thrive. The basic infrastructure required for development are lacking; lack of sufficient generation and distribution of electricity, bad roads and the general lack of security in the country.
The militant Islamist group, Boko Haram, which has destabilized the whole of the North-East of Nigeria since 2009 continued to kill tens and thousands of people and displace millions more. Despite promises by President Buhari’s government to tackle this menace with iron hands and bring about an abrupt end to the suffering inflicted on the people by Boko Haram, the terrorists continue to carry out their mayhem on the people of Nigeria. Their yet largely unrestrained activities have plunged the country into a severe humanitarian crisis, which has left over 7.7 million people in need of humanitarian aid.
Several suicide attacks and kidnappings have been carried out by the group in 2019 alone. At this juncture, the government is counseled to devise other more effective ways in their fight against these insurgents by focusing not just on security, but on peace building, reconstruction and rehabilitation and socio-economic development.
There are other areas of conflict that need to be decisively addressed by this government. They are: The farmers-herdsmen clashes, and the seeming repression of the Islamic Movement of Nigeria, IMN, an Iranian backed Shia group in Nigeria. There are also the various agitations by different regions in the country among many others.
On the Social Media and Hate Speech bills, it is rather heartening to know that after much brouhaha, the government may be looking into finding a more civil way of dealing with what it terms as a ‘nuisance’.
In 2019 also, the Finance Bill 2019 was presented together with the 2020 Appropriation Bill to the National Assembly by President Muhammadu Buhari. It has now been passed by the lawmakers. The bill, amongst other things, seeks to promote fiscal equity, align local laws with global best practices, introduce tax incentives for investments in infrastructure and the capital market as well as support small businesses in line with the ongoing Ease of Doing Business reforms.
Some of the sweeping changes introduced by the bill include a regulation that exempts small businesses with turnover less than N25 million from Companies Income Tax; excess dividend tax to apply only to untaxed distributions other than profits specifically exempted from tax and franked investment income; a lower CIT rate of 20 per cent to apply to medium-sized companies with turnover between N25 million and N100 million; insurance companies would be allowed to carry forward tax losses indefinitely, deduct reserve for unexpired risks on time apportionment bases; as well as a bonus of 2 per cent of tax payable (medium-sized companies) and 1 per cent for large companies for early payment of CIT; among other significant changes.
It is expected that the bill would aid penetration and ease collection on the part of the FIRS, depending on how well the provisions are implemented by the agency.
The ‘temporary’ closure of the borders has had its impact on the economy. Local traders and farmers are reaping the effects. Locally produced grains and other products have witnessed a spike in demand and prices. To a large extent, this is good, but more efforts should be made to ensure that farmers are able to meet the hike in demand by producing more. Conditions necessary for increased production must be fulfilled. But even more than this some argue, the fact of the closure itself, as well as the ruling administration’s seemingly uncoordinated response to the introduction of the omnibus Eco currency by its neighbours, has continued to raise concerns that the nation may not be appropriately prioritizing the imperative of sustained regional integration as a viable mechanism for addressing its economic growth challenges.