Dear Nigerians, I know that many of you are angry, and understandably so. We could’ve moved faster and for this we are sorry.
I fully understand how many young people feel. Many feel that we have been too silent and have simply not done enough.
These feelings of frustration are justified.
There are far too many people who have been brutalised at the hands of the police and this is unacceptable. We must take responsibility for protecting young people, even sometimes from those who are paid to protect them.
Over the past week, we have been following the protests, and I have had a number of discussions with key people in the administration that you deserve to be informed about. Transparency, after all, is a key tenet of government.
We understand that you want to see action from us and I’m here to tell you that work is ongoing. I chaired a meeting of 36 state governors and the Minister of the FCT (NEC), where we resolved to set up judicial panels of inquiry so we can see justice served, and fast.
The reason being that only state governors, by law, can set up judicial inquiries in their states. The hearings will be public.
With Mr. President’s approval, SARS has been completely disestablished, and none of its former members will feature in any police tactical units.
I am sending my deepest condolences to the families of Jimoh Isiaq, and all those who have lost their lives at the hands of wayward police officers. To those injured, I wish a full and speedy recovery.
We have proposed that each state government set up a Victims’ Support Fund, which @NigeriaGov will support. This is the least that we can do to compensate for the injustice suffered at the hands of errant officers.
We also understand that the issues that you’re raising are bigger than just SARS. They’re deep and systemic and we’re undertaking comprehensive measures that will revamp the police by addressing issues of welfare, service conditions and training.
On Monday, Mr. President also reiterated his commitment to these extensive police reforms.
We will continue to update and engage with you all on these action steps and the ones to come, in the spirit of transparency, so that you can hold us accountable. We are, after all, here to serve you and we owe you a duty to win back your trust.
AfCFTA is expected to bring a number of benefits to producers, consumers & countries alike. The hope is that African producers would benefit from access to cheaper inputs, intermediate goods & large markets while consumers have access to cheaper goods and a variety of products.
The Economic Commission for Africa has estimated that with full liberalization, intra-Africa trade would increase by 52.3% as compared to a baseline scenario without AfCFTA by 2022.
The pandemic exposed our dependence on commodity exports to other parts of the world and on the import of manufactured goods from them. As at 2017, intra-Africa trade in goods was $135 billion which was just about 15% of Africa’s total trade.
Small businesses are a critical part of the economy.
Nigeria has made starting a business easier by operationalizing a new electronic platform that integrates the Federal Inland Revenue Service (FIRS) and the Corporate Affairs Commission (CAC) platforms.
In addition, registering property in Lagos is now more transparent with the digitization of cadastral plans in a geographical information system with digital copies now available.
Regarding the enforcement of contracts, Chief Judges in Lagos and Kano States have introduced pre-trial conferences and a strict limit adjournment in their practice directions for small claims courts.
It is not mere rhetoric that small businesses are the engine of growth in Nigeria’s economy. The Federal Government recognises this and is committed to creating an environment for these businesses to thrive.
Nothing lends more credence to this than the Finance Act of 2020 that introduces a wide range of tax incentives for small businesses.
The MSME Clinics provide a two-way opportunity. The FG regulatory agencies share business procedures and requirements while MSMEs are also expected to use the opportunity to share challenges that they face and look for possible solutions alongside the regulatory agencies.
Today, I attended the Inspiration Conference themed Galvanized for Geometric Growth.
It was an opportunity to share some of the strides we have made as a nation under the leadership of President Muhammadu Buhari.
I also shared some of the indices that lend credence to the recent US-based Newsweek magazine's special cover edition which described Nigeria as the Black China and Africa's first super-power.
Nigerian start-ups attracted $122 million out of the $492 million in funding to the African start-up sector in 2019. For example, Kobo360 which aggregates end-to-end haulage operations raised $30m in a Series A round led by Goldman Sachs and Nigerian commercial banks.
The Nigerian Police Force is without a doubt, a national asset. It is the largest Police Force in Africa.
They have led police peace keeping activities in several countries of the world such as Congo, Namibia, Angola, Bosnia Herzegovnia, Kosovo and even as far as East Timor.
Locally, between January and this month, they have arrested 2,348 armed robbery suspects, over 1400 suspected kidnappers, 649 murder suspects and safely rescued 826 kidnap victims.
In the course of duty, many have paid the ultimate price. Many often go beyond the call of duty and in challenging conditions, working to make our communities safer.
In my modest experience of professional practice, some business and political experience, I have observed the timeless principles that work and continue to work.
At Baze University, I shared the timeless principle of trustworthiness.
Build your reputation so you can win the trust of others. If you cannot be trusted or people cannot make up their mind whether they can trust you or not, you have a foot sliding down the hill.
Trust is the currency of successful businesses. It is more valuable than money because it attracts money. The world is in search of trustworthy people, even thieves are in search of people who are trustworthy to manage their funds.