
Opinion
The Warnings From Sanusi And Danjuma That Can’t Be Ignored, By Lasisi Olagunju
The Washington Post of May 29, 1979 reported an exchange between President Idi Amin Dada of Uganda and an agent of a British money-printing firm. The Ugandan dictator asked the man to help him print two million Ugandan shillings worth of 100 shilling notes. The Briton accepted the offer but “gingerly” asked Idi Amin how he was going to be paid for his services. “Print three million and take one million for yourself” was Amin’s answer. The Ugandan leader had a minister of foreign exchange. Before Idi Amin’s engagement with the Briton, the minister had informed the president that “the government coffers are empty.” Amin looked deeply at him and retorted: “Why (do) you ministers always come nagging to President Amin? You are stupid. If we have no money, the solution is very simple: you should print more money.” History says that Amin’s minister of foreign exchange disobeyed his boss. Nobody did that to Field Marshal Amin and lived; but the guy lived. Instead of printing money and destroying his country, he escaped abroad. Amin, however, got someone else to do what he wanted. He printed millions of Ugandan shillings and destroyed the country and its economy – almost irredeemably. History will forever remind us that because of Amin’s money-printing economic wizardry, “sugar cost $5 a pound…and gasoline $39 a gallon.” All these happened to poor Ugandans at a time when “minimum wage was only $30 a month.” A civil servant summed it up to the Washington Post: “No one survived on his salary. You would spend all your salary for a month on food you could carry in just one basket.” Amin was the president of Uganda between January 25, 1971 and April 11, 1979.
When Idi Amin happened to Uganda, we laughed in Nigeria and wondered what sin landed Ugandans in that shithole. We boasted that such a tragedy would never happen to us and our country. Nigeria was fine and strong; it was Africa’s star boy – very big, very rich and very stable. But a blacksmith’s bellow may breathe like humans, does that make it a living thing? We mocked Uganda and Ugandans, we snapped our fingers over our heads and rejected all suggestions that pig-headed buffoonery could be Nigeria’s portion one day too. But let the living not mock the dead; what will kill all mortals is buried deep in the soil of the unknown. It would look like the case of Nigeria is worse than what happened to Uganda under Amin. Last year August, at an online forum organized by the Harvard Kennedy School Alumni Association of Nigeria, the 14th Emir of Kano and a former governor of our Central Bank, Sanusi Lamido Sanusi, lamented that “we wiped out in five years all the progress made in the preceding 35 years…” He said at that event that “we have bankrupted ourselves”; we have “set up an economic system where today 90 percent of government revenue goes to debt servicing and we’re still borrowing…And then we get the Central Bank to print trillions because we cannot pay salaries if we do not print the money. And as the money is printed, we create inflation and then we create devaluation.”
Last week, Sanusi was in Kaduna as a guest of the state government at its investment forum tagged KadInvest. J.M. Barrie, author of the 1904 play, Peter Pan, writes that “all of this has happened before, and it will all happen again.” Sanusi was the keynote speaker and he spoke, and repeated all he said last year lacing it with devastating statistics; and he got a loud applause from an audience you would think contributed nothing to the making of the tragedy. That audience was made up of elite members of the ruling All Progressives Congress (APC). Indeed, sitting regally there was Senator Bola Ahmed Tinubu, a man who enjoys being called the national leader of the party and who saw everything, said nothing but did everything to flourish as the Nigerian ship floundered. Tinubu was at that event as the APC presidential candidate. He, like everyone else there, clapped for Sanusi when the former CBN governor likened the prevailing economic wizardry of the leader’s party’s government to what ruined Uganda under dictator Idi Amin Dada.
Sanusi said the Federal Government had been illegally printing money –it has printed N21 trillion under this regime. Sanusi spoke about “a fundamental lack of understanding of how economics work” by the current managers of Nigeria’s economy. He got applause from those who enabled the heist and are rich by it. Printing money. That is what Idi Amin did in Uganda. The result was tragic. Robert Mugabe did the same in Zimbabwe; the country became a banana republic. The champion before Nigeria was Chavez’s Venezuela. Uganda has happened to Nigeria and we all feel it. That is why the naira in your pocket disappears as soon as you put it there. And you wonder if you are cursed or some witches in your village are determined to make sure naira does not meet kobo in your pocket. It is the reason birds are not chirping like birds and rats no longer cry like rats, just as it was in Idi Amin’s Uganda. Some people in that crowd would be laughing at Sanusi as a wailing wailer. In March, 2020, Tinubu signed a press statement asking the Federal Government to “issue naira” to tackle what he called a “shortfall in public sector naira expenditures.” What does that mean? He may be president next year.
If you missed Sanusi’s presentation at the Kaduna event, do catch-up. He also spoke about the criminality going on at the FOREX market. He doubled down on “a small number of people (rent seekers) who become billionaires for doing nothing.” If you are big and bold enough to burrow your way into the heart of a big CBN man and he gives you $1 million at N400, the market is waiting to buy it from you at N700. Sanusi said that from that single deal, you make N300 million profit – and it may happen in one single day. I cited a May 1979 Washington Post report in the first paragraph above. It contains much more than what I quoted. The Post also reported that “Amin and his cronies and their girlfriends regularly took suitcases full of dollars – up to $1 million on some occasions – from the bank whenever they went abroad.” That was 43 years ago. I would be shocked if you say something like this has not been happening in Nigeria. Sanusi said “Nigeria has always been and will continue to be a rentier state.” He said “the state does not exist for development. The state exists as a site of rent extraction to make those who control the state rich; to turn them into billionaires overnight. That is how the state has always operated. In 2023, if we have an election, we cannot afford to continue with that trend. Any continuation…look at Mali, look at Burkina Faso, look at Guinea Conakry. Look at what is happening (there) with insecurity, if you think it cannot happen in this country, you will be shocked…we cannot continue to push to the brink; we have to come back.”

Sanusi said Pakistan has almost the same population and identical transportation statistics with Nigeria, yet it consumes 21 million litres of petrol per day. But because of subsidy money from the government, Nigeria’s cars, buses and lorries guzzle three times the volume of petrol used per day by its friend, Pakistan. He said there is a one-man business in Nigeria which collects millions of subsidy money for “lifting 129 trucks of petrol per day – more than TOTAL Nigeria Ltd…We have bankrupted the state.” How much fuel do we consume in Nigeria? No one knows. The government that is supposed to know claims it is 66 million litres per day. Sanusi had another bad statistics. “In 2019, officially we were importing 40 million litres per day. In 2022 officially, we are importing 66 million per day. In three years, we have increased our petrol consumption by 50%. Please tell me, is it the population? Is it the number of cars? Just ask yourself if it makes sense that in three years, you increase your consumption of petrol by 50%. Are we drinking petrol? The NNPC says we are consuming 66 million litres per day, so we are consuming more than Indonesia, Pakistan, Egypt, Cote d’Ivoire and others.” Then he remembered that in 2015, the then Minister of State for Petroleum, Emmanuel Kachikwu, disclosed that we were consuming 29 million litres of petrol per day. “We have magically moved from 29 million in 2015 to 66 million litres per day in 2022,” Sanusi bellowed in exasperation.
Like Sanusi, General Theophilus Danjuma on Saturday also repeated what he said three years ago: arm yourselves, destroy bandits or bandits will destroy you. He spoke at the installation of a new king in Wukari, Taraba State. In 2019, he had warned that unless Nigerians armed and defended themselves against rampaging murderers, the people would “die one by one.” He was insulted and derided that time for issuing that warning. I wonder what seer would see clearer than this prophet. How many who heard him and called him names that time are alive today? But because old soldiers don’t die, the grand old former Chief of Army Staff came back two days ago, even more forcefully: “When some few years ago I warned that the armed forces were either not capable or unwilling to protect us and that we must defend ourselves, the first denial about what I said came from the ministry of defence. They said I was lying and they set up a kangaroo board of inquiry to investigate the truth or otherwise of what I said. They invited me to come and testify but I did not go. They wrote their report which stated that I was only speculating and that there was no evidence. But now there is evidence. The whole country now is being overrun and one very clear thing that is happening now is that these foreign invaders are destroying everything and our government allowed them to come into the country.” This is an indictment. Opening the doors of our country to terrorists is treason. Will the accused please enter appearance and defend themselves without being abusive?
A people are as safe as they wish to be. Sanusi spoke to our pains; he expressed fears and issued warnings. General Danjuma told victims wringing their fingers while terrorists eat them one by one to wake up and fight. He said those asking him to provide them weapons were grossly off-beam; the General told the attacked to look for weapons from where their tormentors get theirs. I think that was deep. We cannot be free of economic and forest bandits when we hail and tuck demons under the duvet of inaction and convenient excuses. Sanusi has spoken; Danjuma has repeated his warnings. We can benefit and prosper from the wisdom of the wise. In 44 quick days, the United Kingdom shook off a regime that almost wrecked everyone’s finances. I particularly note how the leader of the Labour Party, Sir Keir Starmer, summed up what happened in that country last week – and why it happened. Liz Truss resigned as prime minister because she could “not deliver on the mandate on which” she was elected and Starmer fired a statement that shredded the Conservative Party and its 12 years in power. He described the regime’s wobbly, in-and-out leadership as a “revolving door of chaos.” He accused the Tories of setting a record-high taxation, trashing British institutions and creating a cost-of-living crisis. He said the incumbent party had crashed the economy so badly that the damage they had done would take years to fix. “Each one of these crises was made in Downing Street but paid for by the British public. Each one has left our country weaker and worse off.” The man sounded as if he was speaking about Nigeria and its reigning chaos.
Nigeria needs a Keir Starmer; it, more importantly, deserves a political system that won’t wail and wait for eight years (or more) to sack a failed Party.
Source: Nigerian Tribune
Opinion
The vermin of untamed Social Media use among Nigerian Youths
BY EMUOBOHWO RICHES OGHENEYOMA
With the help of social media, life has become easier through the dissemination of information through platforms like instagram, TikTok, facebook, Snapchat and twitter now renamed X. Through the help of social media people have been able to learn various skills without going anywhere to acquire them.
Social media technologies appear to have affected many young people’s way of thinking so much that they even take everything as a joke, they do anything just to go viral on social media. Because of what they have watched online they no longer have respect for their elders to the extent that if you are not their parents you cannot correct them. Our youth no longer dress decent because of what they have seen or watched on social media, they want to dress just like their role model on social media. Social media has influenced our youth to embrace immoral dressing. Some influencers on social media, sometimes do not do as they have said online causing problems in the life of our youths.
Social media has led many of our youths into criminal activities like killing their loved ones just to make money and meet up with what they see online, some even start stealing to be able to buy what they see online, some even pressure their parents because they couldn’t afford that lifestyle for them. Our young girls are selling their body to men in order to buy the trending things online like clothes and phones just to meet up with social media trends.
Our youth no longer see their naked pictures and videos trending online as a big deal they even use it as a medium to go viral on social media, some even send their naked pictures to men just for money.

Students no longer take their studies serious because of social media, they want to do the latest trend on social media. They wake up every morning just to do blog, making them not to perform very well academically. They even sacrifice their night sleep which is not good medically just to watch videos on social media causing damages to their eyes from their phone screen.
Social media has made some youths to have low self-esteem, they do not have confidence in themselves because of the pressure on social media. Some youth have made attempts to commit suicide because of the pressure in social media.
I know social media has done a lot of things in the society like passing information but we cannot forget the fact that it has done more harm than good to the youths in the society. It is rare to find well-mannered youth because of the negative impact of social media. Some even start taking drugs because of peer-pressure from social media.
It has therefore become imperative for the various arms of government ans security agencies to put in place a regulatory framework that will checkmate social media abuse among the youths in the country in order to prevent or eliminate the negative consequences.
• Written by RICHES EMUOBOHWO, a 200 Level Student of Delta State University
Opinion
Enugu State, Governor Mbah and The Road Revolution
By Samson Ezea
There is no meaningful development without infrastructure, and no infrastructure impacts the daily lives of the people more directly than roads. Roads connect communities, drive commerce, reduce travel time, improve security, attract investments, and open up rural areas for economic growth. In Enugu State today, one of the most visible signatures of Governor Peter Ndubuisi Mbah’s administration is the aggressive push in road construction and reconstruction across the state. From urban renewal projects to strategic rural link roads, the administration has continued to redefine the state’s infrastructural landscape.
Recently, I had cause to travel to Nsukka. I began my journey from Independence Layout through the Enugu–Port Harcourt Expressway and passed through Abakpa Junction. What immediately caught my attention was the impressive level of work on the second lane of the Enugu–Onitsha Expressway, which has already been opened for use, as well as the ongoing construction of the flyover bridge at Abakpa Junction.
On getting to Penoks Junction, I became even more excited seeing the extent of the dualisation project stretching from the junction down to the flyover bridge at T-Junction as part of the ongoing dualisation of the Penoks–Opi–Nsukka Road by Governor Mbah’s administration. Unlike in the past, when journeys to Nsukka were stressful and time-consuming, I arrived in less than 40 minutes.
Apart from the already completed sections, construction work is progressing rapidly on other parts of the road, particularly from the Opi Nsukka Junction axis towards Enugu. Just like every other road, Governor Mbah’s administration has constructed and reconstructed in the state, one remarkable feature of the project is the provision of proper drainage systems on both sides of the road to ensure easy flow of erosion and floodwater. This was largely absent on the old road and had contributed significantly to its deterioration over the years.

Beyond eliminating the usual traffic congestion and gridlock associated with the route, the economic benefits and long-term impact of the dualisation of this strategic road cannot be overemphasized. It is a major gateway linking Enugu State to northern Nigeria and other parts of the South-East.
Also, during the grand finale of the Tomorrow Is Here Movement, the vibrant support group of Governor Mbah’s administration, held at Owo Junction last month, I took time to travel through the ongoing 44.5-kilometre dual carriage road being constructed from scratch from Owo Junction through Ubahu down to Ikem. The road, when completed, will serve as another major access route connecting Enugu State to Northern Nigeria, while opening up several rural communities to development and economic opportunities.
Across Enugu State, from urban centres to rural communities, I have personally driven through several strategic roads either under construction or undergoing rehabilitation by Governor Mbah’s administration, roads I never even knew existed from my undergraduate days in Enugu till date.
Despite the huge backlog of infrastructural deficits inherited from decades of neglect by successive administrations, even before the creation of Enugu State in 1991, Governor Mbah’s administration has performed remarkably well in critical infrastructure development, particularly in roads, schools, hospitals, and related sectors. These projects are gradually transforming the developmental outlook of the state and positioning Enugu as an emerging investment destination.
From the outset, it was obvious that Governor Mbah came prepared for governance. This became even clearer on August 31, 2024, when he commissioned the Enugu State ultra-modern Mega Asphalt Plant, one of the best in the South-East region. The plant was established specifically to tackle the high cost and logistical challenges associated with road construction, especially asphalt production, which constitutes a major component of road projects.
The establishment of this important facility has significantly accelerated the pace and quality of road construction across the state.
Aside from occasional delays caused by the rainy season, most of the roads awarded by the administration are progressing steadily. Importantly, none of the projects awarded by Governor Mbah’s government has been abandoned. Construction activities are ongoing on virtually all of them, earning commendations from residents and indigenes alike.
Even as political activities ahead of the 2027 general elections intensify, with many politicians focusing more on strategies for electoral victory, Governor Mbah appears determined to allow his performance speak for him. This perhaps explains why the administration has continued to award more strategic road projects across the state.
Among the recently flagged-off projects is the 52.2-kilometre Nsukka–Leija–Aku–Akpakumeze–Eke-Ebe Road, inaugurated during the Enugu North Mega Endorsement Rally in May 2026. Other newly awarded projects include:
Beach Junction–Ovoko Afor Road, Nsukka
Enyichiru Barracks Junction Road, Nsukka – 1.2km
Mechanic Road Barracks Junction, Nsukka – 1.15km
Ugwuachara Road, Nsukka – 1.55km
Ezeagu–Umumba–Orie Engine Ebenebe Road – 10.1km
Enugu United Palm Plantation (EUPP) Access Road at Ibite Olo, Ezeagu – 14.5km
Umabi–Umuaga Link Road – 3.6km
Eke Obinagu–Obodo Nike–Umuode–Oruku–Aguikpa–Amaechi Idodo Road – 18.23km
Obodo Ukwu–Inyi Road – 5.6km
Ehuhe–Achi–Umabi Road – 13.05km
Amanpunato Achi–Amoli Road – 16.47km
Altogether, these projects cover over 151 kilometres of roads across different parts of the state.
These are not just ordinary roads; they are economic lifelines. They will boost agriculture, enhance rural commerce, improve access to healthcare and education, reduce travel time, and strengthen connectivity between rural communities and urban centres.
That is why it is amusing to read the propaganda and misinformation being circulated by some sponsored social media hirelings attempting to downplay the achievements of Governor Mbah’s administration in road construction. Their aim may be to score cheap political points ahead of the 2027 elections, but facts remain sacred.
Even to the blind, it is obvious and indisputable that Governor Mbah’s administration has done remarkably well in road construction and reconstruction across Enugu State. The administration has not abandoned any road project awarded so far and continues to initiate new projects despite growing political distractions.
The construction of the Mega Asphalt Plant at the early stage of the administration clearly demonstrated foresight, seriousness, and preparedness to tackle the long-standing challenge of deplorable roads across the state.
However, one undeniable reality remains: the infrastructural decay inherited over several decades is enormous.
Even if Governor Mbah were given another eight years focused solely on road construction, it would still be difficult to completely erase the backlog of dilapidated roads across the state. That is simply the magnitude of neglect accumulated over the years.
Nevertheless, the progress made so far deserves recognition and appreciation. Road construction is highly capital-intensive and requires careful planning, technical expertise, and time to ensure durability and quality delivery. Therefore, development should not only be assessed based on whether roads in one’s immediate community have been reconstructed. Governance must be viewed from a broader perspective.
In all fairness, Governor Peter Mbah’s administration has shown commitment, vision, and determination in addressing Enugu State’s infrastructural challenges. The ongoing road revolution across the state is not merely about laying asphalt; it is about opening up communities, stimulating economic growth, improving the quality of life of the people, and laying a solid foundation for future generations.
Indeed, the roads are speaking for the administration.
• Ezea writes from Independence Layout, Enugu State
Business
Amukpe-Escravos pipeline and the real cost of ignoring current value, By Sufuyan Ojeifo
Nigeria’s oil infrastructure has a habit of telling uncomfortable truths. Not just about barrels and flow rates, but about how a country chooses to value what it cannot afford to lose, and what it risks when it gets that calculation wrong.
Take the Amukpe-Escravos Pipeline, for example. A syndicate of lenders, led by Sterling Bank, is pushing back against efforts to revive a collapsed transaction involving a 40% stake in the asset. Their argument is not complicated. It is rooted in numbers and contractual discipline.
To be clear, a deal that fell apart in 2024 is being reconsidered using a valuation from that same year. However, since then, the asset has proved its worth. Independent assessments now place that stake closer to $600 million. The earlier benchmark sits far below that. The gap is not cosmetic. It is material. And if left unaddressed, it becomes a cost.
The original $243 million offer did not collapse by accident. It was terminated in October 2024 after Conpurex Limited failed to meet payment obligations, breached key terms, and sought to shift risk back to the seller. By the time the Technical Committee closed the process, confidence had already drained out of it. That much is settled.
Ordinarily, that should have been the end. Instead, there are moves to return to a September 2025 approval linked to that same process. The lenders describe this as an administrative carryover. Their response is simple. Start again. Set aside the old approval. Bring in an independent adviser. Return the asset to the market and let current value speak.

What is striking is not just the position itself, but how unusual it sounds in the Nigerian context. In a system where strategic assets have too often travelled through corridors of convenience, an insistence on valuation and process can sound almost rebellious. It should not be so.
Because this is not entirely about one pipeline. It is about whether a terminated deal remains terminated. Whether contracts still mean what they say. Whether performance counts for anything once the paperwork has been filed away. And, crucially, who bears the cost when value is ignored.
The numbers, as always, are blunt. A 2025 independent valuation, referenced in the March 2026 edition of Africa Oil+Gas Report, places the 40% stake at a mid-case of $372 million, a high case of $544 million, and an upside of $641 million. These are not speculative figures. They reflect an asset that has quietly done its job in a difficult environment.
With a capacity of 160,000 barrels per day and uptime consistently above 95%, the Amukpe-Escravos Pipeline has become one of the more reliable evacuation routes in a system where reliability is often in short supply. While other corridors struggle with theft and disruption, this one works.
That fact matters a great deal. Because when an asset proves itself under pressure, its value does not stand still. It moves. To price it as though nothing has changed is not just a technical choice. It is a financial one. And every financial choice has consequences.
It says performance can be ignored. It says time does not count. It says administrative continuity can outrun economic reality. To be fair, the earlier process gave enough warning signs. Lenders questioned the assumptions. Coordination was weak. When Continental Oil and Gas stepped back, Conpurex entered without a clean transition and soon began to reopen settled terms, shifting obligations and introducing new conditions that unsettled the commercial balance. The eventual termination was not dramatic. It was inevitable.
What unsettles stakeholders now is the possibility that a process that ran its course may still shape the outcome. If a concluded transaction can reappear without a clear restart, the line between closure and continuity begins to blur. Once that line blurs, contractual uncertainty follows. And when certainty weakens, serious capital takes notice.
This is where the issue widens beyond the pipeline itself. Back in March, Africa Oil+Gas Report described the Amukpe-Escravos matter as no longer just a transaction story, but a test of how Nigeria governs, values, and safeguards strategic oil infrastructure. That reading feels even more relevant now.
Because what is at stake is not simply who acquires a stake in a pipeline. It is how the country signals to those willing to invest in its most critical assets. It is about whether value is recognised only in theory, or protected in practice. It is about whether losses are acknowledged, or quietly absorbed.
The lenders’ position is often described as resistance. It is better understood as discipline. Reset the process. Revisit the approval. Bring in independent oversight. Return the asset to the market through a transparent and competitive process that reflects present realities. Ensure capable counterparties. Align all stakeholders.
These are not extravagant demands. They are the basics. Nigeria has seen too many assets drift from promise to regret. Too many structures that once worked reduced to cautionary tales. When something works, when something proves resilient in a difficult system, the least that can be done is to treat it with the seriousness it has earned.
Moments like this do not announce themselves as turning points. They arrive quietly, dressed as routine decisions.
But they reveal everything. For an economy seeking disciplined capital and trying to rebuild confidence, the signal matters. Let the process be reset. Let valuation reflect reality. Let the outcome show that when Nigeria recognises value, it also knows how to protect it, and what it stands to lose when it does not.
Until then, the lenders’ position stands as a reminder that in a system where too much has been taken for granted, some lines are too important to be crossed and must be held.
● Sufuyan Ojeifo publishes THE CONCLAVE online newspaper.
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