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Oyo’s debt, Makinde’s legacy: Today’s monument, tomorrow’s burden
To some citizens, the landscape of Oyo State is undergoing visible transformation. New road networks weave through communities, while some other efforts of the People’s Democratic Party (PDP) administration in the State may stand as testament to the legacy of Governor Seyi Makinde.
However, the steel and concrete of these projects are underpinned by a less visible but increasingly alarming foundation: a precipitous and seemingly incessant accumulation of debt. This borrowing spree, which has become the hallmark of the administration, is now prompting serious questions about fiscal sustainability, intergenerational equity, and the very definition of responsible governance, framing the 2027 election as a critical choice between the candidate of a profligate administration intent on mindless borrowing and an astute management and financial expert.
Upon taking office in 2019, Governor Makinde inherited a debt of approximately ₦150 billion. Within a few short years of taking over, that figure ballooned to over ₦350 billion, representing a staggering increase of more than 130 percent. While the government defends this strategy as “strategic borrowing” necessary to bridge a vast infrastructural deficit, a closer examination reveals a pattern that leans less on strategy and more on a relentless leveraging of the state’s future. The administration’s singular focus on capital projects, while commendable in its ambition, appears to be financed by mortgaging the financial flexibility of future administrations and generations of taxpayers. The argument that debt is a tool for development is economically sound in principle, but its virtue is entirely contingent on its management, sustainability, and the tangible returns on investment. On these metrics, growing scepticism suggests the administration is failing.
The core of the criticism lies not in the act of borrowing itself, but in its pace, scale, and the potential misalignment with revenue-generating outcomes. The state’s debt service-to-revenue ratio is becoming dangerously stretched. A significant and growing portion of the state’s monthly federal allocation and its Internally Generated Revenue (IGR), which has seen a rise to over ₦4.5 billion, is now pre-committed to servicing existing debts. This creates a fiscal straitjacket, effectively siphoning funds away from critical recurring expenditures like education, healthcare, and public sector wages to pay interest on loans taken for new projects. The government is building new roads while potentially jeopardizing its ability to maintain them or pay the teachers and health workers who give the state its human capital. This is the paradox of indebtedness: today’s monuments can become tomorrow’s burdens.
Furthermore, there is a palpable concern regarding the efficiency and transparency of the deployment of these borrowed funds. The public is presented with a simple equation: massive debt equals massive projects. However, the lack of granular, accessible data on the cost-benefit analysis for each project financed by debt fuels scepticism. Are the projects being executed at optimal value? Are the loans tied to projects with clear, measurable economic returns that will boost the state’s IGR sufficiently to offset the debt? Or is the state, in its rush to build a legacy, financing white elephants and overpriced contracts? The incessant borrowing, without a concomitant and overwhelming demonstration of prudence, creates a perception of a government spending with abandon, secure in the knowledge that the repayment will be a problem for another day and another leader.
It is within this context of fiscal apprehension that the political narrative for 2027 is crystallizing. The very weakness of the Makinde administration—its perceived profligacy and lack of nuanced financial management—becomes the greatest strength of the potential challenger to Makinde or the People’s Democratic Party candidate in the 2027 governorship election.
The prospect of Chief Adebayo Adelabu, the current Minister of Power and former Deputy Governor of the Central Bank of Nigeria (CBN), is no longer just a political alternative; it is an antidote to the current fiscal anxiety. Adelabu’s entire career is a repudiation of the current model. Where the present administration is defined by borrowing, Adelabu’s profile is defined by management.
The case for an Adelabu governorship is built on the premise of competent, technical stewardship. His resume — a former Senior Consultant and Audit Manager in one of World’s biggest Accounting firm, PricewaterhouseCoopers, a former West Africa Regional Finance General Manager in Standard Chartered Bank, former Executive Director, Group Chief Financial Officer (Group CFO) in Nigeria’s largest bank, First Bank and former Deputy Governor, Central Bank of Nigeria. In addition, a fellow of the Institute of Chartered Accountants of Nigeria (FCA), a fellow of the Chartered Institute of Bankers of Nigeria (FCIB) and a National Honouree as Officer of the Order of the Federal Republic (OFR). He’s also a renown and distinguished private sector investor with strings of visible businesses in Real Estate, Hospitality, Agriculture and Financial Securities providing direct and indirect employment to thousands of Oyo state indigenes. And lately the best performing Honourable Minister of Power in two years with overwhelming testimonies of unprecedented improvement in Electricity Supply in Nigeria’s history —suggests a leader who would approach the state’s finances with the discipline of a risk-assessing banker, not the zeal of a legacy-seeking out going governor. The critique of Makinde’s incessant borrowing naturally leads to the promise of an Adelabu administration focused on debt optimization, not just acquisition. This would involve restructuring the existing expensive debt portfolio to secure better terms, a complex financial manoeuvre far beyond the scope of a politician but well within the wheelhouse of a central banker.
Moreover, the solution would shift from borrowing to a relentless focus on radical revenue engineering. The goal would be to move beyond merely improving IGR collection to fundamentally expanding the state’s economic base through sophisticated public-private partnerships, attracting large-scale investment into agro processing and solid minerals, and creating a business-friendly environment that grows the pie rather than just slicing it differently. Adelabu’s national network and experience, particularly in the critical power sector, could be leveraged to bring strategic federal projects and private sector investments to Oyo State, creating jobs and broadening the tax base organically.
The 2027 election is therefore shaping up to be a fundamental referendum on economic philosophy. Governor Makinde will campaign for his candidate on the tangible evidence of his projects, asking to be judged on the bridges and roads he has built, even if they are paid for with debt that will long outlast his tenure. In contrast, an Adelabu campaign would frame the choice around consolidation and solvency. It would be a promise to secure the state’s financial future, to build not with concrete alone but with a solid balance sheet. The indebtedness of Oyo State is Makinde’s defining legacy. The 2027 election will determine whether the people of Oyo State want to continue building upon it or elect a financial expert to finally manage it.
…Mide Isaac is an Ibadan, Oyo State public affairs analyst
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Sunday Igboho’s Iru Ekun as Sòbìà, the guinea worm
By Festus Adedayo
Make no mistake about it: Yorubaland is encircled by terrorists. And Nigeria is today as sour as vinegar. The president’s birthplace is now a terrorist enclave. Since the Ahoro-Esinele tragedy in Oriire LG of Oyo State on May 15, a lot more blood has been spilled. Blood spillage has become, in the words of Bob Marley, a natural mystique and “many more will have to suffer; many more will have to die.” Ondo, Ekiti, Ogun, Osun have since been taking bites of their own blood. On Friday, bandits stormed the Igbosi area of Idogun in Ose Local Government Area of Ondo State. They destroyed two buildings and kidnapped a nine-year-old boy. On the whole, Nigerians can taste the bitter feel of blood in their mouths. Or see a picturesque of blood flowing on the horizon. News of violent deaths in the hands of terrorists, kidnaps for ransom and violent abductions have become daily existential realities.
Sending children to school today is risky. It is like hopping over an IED-buried land. The victory of Boko Haram terrorists, who declared war on education, against a Southwest which prides itself as beacon of education, couldn’t receive more fitting finality than now. Late last week, an unverified claim was made that terrorists keeping vigil with menacing guns over our children and their teachers inside the forest of Oyo National Park have made depressing ransom demands.
War has indeed begun. But, for the president, 2027 votes seem more precious than his people’s blood. And since, as his people say, even if one beholds a thousand heads in the marketplace, it shouldn’t be difficult to identify one’s, the people are bothered whether the president has identified his in this cadaver-counting arithmetic. The president has effectively mutated from his constitutionally-guaranteed role as actor-in-chief into a national mourner-in-chief, running a government of bereavement and weekly national condolences.
As I write this, news filtered in that terrorists have again struck Borno State, beheading soldiers and vigilante members. Like other parts of Nigeria, Southwest Nigeria is terrified. It is almost a crime to celebrate. Killings no longer make front page news. Nor the number of our countrymen sent to the graveyards. You can compare our situation to someone’s whose mother was offered as sacrifice to Yemoja, the goddess of the river, for whom smiling is an anathema. Killings by terrorists have become a roulette. Since they stormed Ahoro-Esinele and Yawota, killing a teacher, abducting 46 pupils, teachers and decapitating one, Southwest has been the proverbial cycle of conspiracies (Egbìnrìn òtè) which, as you attempt to grapple with one, a multitude spring up.
Many parts of Nigeria bear virtually all chaotic symptoms of rebel-occupied spaces in far-flung places of Africa. Anarchy is fast becoming the new normal. Indices of ungovernable Nigeria are evident.
The chaotic, violent and blood-soaked situation today in Southwest Nigeria is almost akin to that of the 19th century. According to J. F. Ade Ajayi and S. A. Akintoye, in their “Yorubaland in the Nineteenth century” published in Groundwork of Nigerian history (1980) edited by Obaro Ikime, it was the century the Binis succeeded in making incursion into Northern Yoruba towns of Owo, Akoko, Ekiti and Ikare. Between 1830 and 1850, extreme Northeastern Yorubaland towns of Oworo, Bunu, Iyagba, Owe and Ijumu had been taken over by Jihadist Fulanis. Led by the Nupe Malam Dendo, the Jihadists later made incursions into Igbomina, Akoko and northern Ekiti. Ilorin cavalry’s forays also met with huge success. The rivalry between the Ibadan and Ijaye for dominance left blood and sorrows. By 1847, highly feared Ibadan forces had occupied Ekiti, expelled the Ilorin and by 1860, spread their tentacles of dominance over it, Ijesa, Akoko, Igbomina and vast territories of Osun and Ife kingdom. The 16-year war against the Ibadan in the Kiriji war, also known as the Ekitiparapo war, was to later truncate Ibadan’s dominance.
All these led to, in the words of Ade-Ajayi in another journal article with the title, “Professional Warriors in 19th century Yoruba politics” a shift from part-time militias to professional standing armies. Leaders of the armies of Yorubaland during this troublous era were: Aare Latoosa, who commanded Ibadan forces in the Kiriji War; Balogun Oderinlo, a tactical genius who fought and decimated Fulani forces in the Osogbo War; Balogun Ogunmola, a ruthless strategist; as well as Basorun Oluyole and Balogun Ibikunle. The Kiriji war also produced Ogedengbe Agbogungboro of Ilesa, who became the supreme commander of the allied Ekiti-Parapo forces. He was renowned for his military prowess. Then, we had Fabunmi of Oke-Mesi, who was a dreaded key strategist whose beheading of an Ibadan tax administrator became the catalyst of the Ekitiparapo war; as well as Ijaye and Abeokuta (Egba) Commander Kurunmi of Ijaiye.
These militia leaders were spurred on by the collapse of the Old Oyo Empire in the same 19th-century. They became a new class of warlords who rose from the ashes of the incursions of external and internal forces into the domains of territorial powers. These militias sidestepped traditional hereditary lines and went ahead to acquire immense political power. By doing this, they fundamentally transformed the powers of Yoruba constitutional monarchies. Their military expeditions also led to a shift and reshape of Yoruba societal norms, recalibrating might to be right. As said by Ade-Ajayi, the control of violence, access to firearms, and war tactics during this time became central pillars of political authority. It led to a total militarization of the whole of Yorubaland. This pervaded the land until British colonial intervention became the sole enforcer of normalcy and peace in the late 1890s.
Another example was the Agbekoya Parapo Revolt of 1968–1969 led by Tafa Adeoye. It was a peasant revolt in the Western Region, fought and won against the Federal Government by the Ibadan, spearheaded by two villages of Akanran and Akufo.
I went into this small history to be able to situate what is playing out today. All the above militia leaders of Yorubaland were ex-bandits who became respected military Generals. Ogedengbe Agbogungboro of Ilesa was a local fearless bandit who, as a young boy, terrorized his Atori village. In 1851, he fought on the side of Ijesa against Ibadan in the Ijebu Ere (Ijebu-Jesa) war. He also fought the Igbajo war. It was in this latter war that Ibadan captured him and he became a prisoner of Basorun Ogunmola. He later transformed into a major war commander in the Kiriji war. He died in 1910 as holder of the title of Odole of Ijesaland. Fabunmi of Oke-Mesi was also a local bandit who beheaded an Ibadan Ajele named Oyepetun in retaliation for an assault on his wife.
To validate why a people who lay store by good conduct could accommodate bandits as their leaders, Yoruba validate this in a saying that weaponizes necessity as mother of invention. It is rendered as, “ojó t’áa bá pà’jùbà làá níran àdá, ojó ogun bá le làá níran omo t’ó le”. Literally, it means, it is on the day of cultivation of a virgin forest that a machete becomes a close companion, just as a moment of being besieged makes the tough son in the closet the most useful weapon of defence. By the way, Ibadan veteran broadcaster, Fresh FM’s Abolade Salami gave me this saying some years ago.
A few weeks ago, self-labeled Yoruba nation activist, Sunday Adeniyi Adeyemo, popularly known as Sunday Igboho, again hit headlines. He had earlier come into national reckoning in January 2021 when he gave a controversial seven-day ultimatum to suspected Fulani herdsmen allegedly terrorizing the Ibarapa area of Oyo State to vacate the space. Public accusation then was that these herders were behind the orgy of kidnapping and killing of local farmers in the area. He instantly hit the klieg light as a folk hero in Yorubaland. The Muhammadu Buhari government however hounded him. It led to an Operation Get Igboho which, on July 1, 2021, had a joint team of security operatives haunt him at his Soka, Ibadan, residence. The Department claimed it recovered seven AK-47 assault rifles, three Pump Action guns, 30 fully charged AK-47 magazines, 5,000 rounds of 7.62mm ammunition, and 18 Walkie-Talkies, among others, from his house. Igboho thereafter fled the country.
After being granted pardon and he returned from exile, Igboho recently announced the formation of a security outfit he called “Ìrù Ekùn Security Network”. In his words, it would collaborate with the Police, Department of State Services, Nigeria Army and other relevant stakeholders to flush out terrorists, kidnappers, bandits, and other hoodlums, who are threatening the peace and safety of the people. He also claimed to want to work with South-West governors to fortify state-backed security outfits like the Amotekun corps.
Igboho deserves kudos for the spiritual significance of his security outfit. In Yoruba Ifa corpus (Odu Ifá), Iru Ekun, literally translated to mean a leopard’s tail, is a profound verse with prophetic invocation. An Irete family of the Ifa corpus, it represents fierce protection, wealth and status, as well as wisdom and strategy. While children sang those days that the fierce eyes of the leopard are reddish and its tail stiff, “Ojú ẹkùn yí pọn, ìrù ẹkùn yí le”, Iru Ekun then means confidence, power and alert readiness. In the wild, when it confronts an assailant, the leopard, for a split second, remains calm but when it pounces on the enemy, it tears them into pieces. In praise of this strategically alert animal, the Yoruba say its calmness is not a sign of timidity, “Didake ekun, t’ojo ko”.
In the wake of the abduction of pupils and teachers at Oriire, Igboho has again come out to say he knew the politicians behind it. He said they were Tinubu haters.
Voluble, illiterate, unpretentious but bold, those who know Igboho know of his trajectory as an anvil in the hands of politicians. He is also a notorious land-grabber. The Elebu area in Ibadan has repeatedly witnessed his notoriety in this regard. However, this is not a time for recriminations. It is a time to seek ways of wiping away the caked blood of sorrow from our brows as a people and who can effectively do this. Thus, Igboho’s offer to tame insecurity in the Southwest, even claiming to be able to spread his Ìrù Ekùn’s tentacles to Kogi and Kwara States, deserves thorough examination.
Thus, that Igboho is transmuting from villainy into a people’s heroes has its historical trajectory as analyzed above. However, if the aim is for the Yoruba, through Igboho, to harvest their share of the national cake as Niger Deltans are doing with the Tantita Security Services, which claims to be protecting critical oil pipelines and gas sector installations, Igboho’s Ìrù Ekùn is all well and good. If, conversely, the aim is to provide security for the Southwest, it may be deadly in the long run. Igboho may succeed in bailing out some children from the grips of terrorists inside the Oyo National Park. Many may even die in the process. Ultimately, the end result may prove catastrophic for the people.
First is, to hand over such tremendous power to a non-state actor of Igboho’s pedigree and educational depth is dangerous. What knowledge does he have in modern warfare? A similar outing proved fatal which Nigeria has yet to recover from. Mohammed Yusuf, founder of Boko Haram, was known as provider of security cover for then Borno governor, Ali Modu Sheriff. In the 2003 elections, Sheriff reportedly provided him financial backing, government appointments and even protection. His sect, in exchange, then gave him grassroots support and protection. By 2003, the glue to the rapport came in the form of political alliance, with a deal struck to give the sect concessions. One was the release of its imprisoned members and appointment of its allies into local government offices. Yusuff however sensed betrayal and abandonment. After election and Sheriff government sought to do away with Yusuff, the bubble burst. This led to its radicalization and clashes with local security forces. The subsequent deadly 2009 uprising which later arose became a fait accompli. And Yusuff’s elimination. The whole of Nigeria is today suffering from this unholy alliance.
Second, as the Yoruba say, even when a mad person is cured of their malady, there always remains fragments within them, a moment of insanity in sanity. To give Igboho, an ally of political players, such huge security powers is potentially dangerous for the polity. The timing of the outfit is everything but right. Handing total security to a non-state actor, one who has expressed his angst at alleged persons who want to stop “our son” from being president, would be akin to arming deadly political thugs. HURIWA, the human rights group, might have had this in mind when, in its reaction to Igboho’s Ìrù Ekùn, said it would threaten national security
Third is that Ìrù Ekùn Ekun would empower other nationalities facing insurgency like the Southwest to equally demand national imprimatur for their own militia. It will be unfair not to grant them, or else it becomes an exercise in ethnic favouritism.
The president’s immediate response to the Oriire kidnap, after the tragedy of his sending a delegation to the place last Sunday, rather than his physical presence, is equally a placebo that cannot cure this national ailment. He had announced the recruitment of 1000 forest guards to be deployed to the forests, in partnership with the Oyo State government. Not only will the presidency, as usual, dilly-dally on this, no one knows the guards’ modus operandi nor when it will take off. Its effectiveness is also suspect except government veers off constitutional provisions by empowering it to carry sophisticated guns.
If, almost three weeks after 46 pupils and teachers were taken into captivity, 1000 forest guards idea is the only plausible word we have heard from government, it is frightening and disheartening. Government should confess its limitations. When a person exhibits palpable incapacity as this, Yoruba compare them to the scruffy whom they ask to confess their dirt affliction so that they could receive help. They say, “Jéwó, òbùn k’án dáso ró e”. It is apparent that government is too tame to rescue us. Could it confess?
In all, the current state of insecurity in Nigeria is the ripening of fruits of decades of neglect of security issues. A Buhari minister once openly told Nigerians that Fulani herders of all countries in Africa were free to ingress and egress into Nigeria. Current holders of power were too timid, apparently due to their eyes on power, to condemn the seeds of sorrow Buhari sowed.
The state police idea is apparently the most effective path to tread. Unfortunately, because of votes, necessity to act right politically, and in supine bow to the region where massive votes could come from, the presidency is dilly-dallying on the implementation of the lofty anti-insecurity idea. IGP Tunji Disu’s timeline implementation of 60 months equally gave indication of the peremptory approach government wanted to give the idea.
To combat guinea worm, which Yoruba call Sòbìà, native doctors found a herbal remedy in the Olúgànbe leaf. It is usually boiled and its water used to clean the ulcer. The leaves are then used as plaster on the burst worm site. So, as a tribute to the rescue that the Oluganbe leaf provides those who suffer the strike of Sòbìà, a traditional Yoruba aphorism was invented as salutation to the Oluganbe. They say, “kí Sòbìà t’ó d’egbò, Olúgànbe làá ké sí,” translated to mean, before guinea worm transmutes into a dangerous sore, Oluganbe is always called to the rescue. Beyond the strike of the Sòbìà, this wise saying has assumed a broader context as call on those who have ears, upon noticing early signals of an impending disaster, to immediately seek timely solutions to it. However, what do we do when the Oluganbe is itself the affliction? That is the complexity of the Nigerian security challenge. And Igboho’s Ìrù Ekùn.
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How Sanwo-Olu is selling Lagos as Africa’s gateway for investment
By Olumide Iyanda
Ahead of the Invest Lagos 3.0 summit holding at Eko Hotel & Suites from June 8 to 10, Governor Babajide Sanwo-Olu is pitching Lagos as Africa’s leading destination for investment. The target is to attract about ₦4 trillion, or roughly $2.5 billion, in fresh investments into sectors ranging from infrastructure and technology to housing, agriculture and transport.
For decades, Lagos has occupied a unique position in Nigeria and Africa. It is the country’s commercial nerve centre, home to major banks, manufacturing firms, technology companies, ports and financial institutions. It is also a city whose scale and pace continue to shape conversations about urbanisation, infrastructure and economic growth on the continent.
The argument being advanced by Lagos officials is straightforward. With its population, market size, transport links and expanding infrastructure, Lagos is positioning itself not simply as Nigeria’s economic capital, but as a gateway to African business opportunities.
According to investment documents prepared ahead of the summit, Lagos contributes more than 30 per cent of Nigeria’s Gross Domestic Product and accounts for about 90 per cent of the country’s foreign trade flow. The state government also says Lagos generates about 70 per cent of its revenue internally, reducing dependence on federal allocations.
That revenue growth has become a major part of the Lagos economic story. Lagos generated more than ₦1 trillion in Internally Generated Revenue in 2025, making it the first Nigerian state to cross that threshold. The state’s formal economy has also been estimated at more than $130 billion.
Mr Sanwo-Olu recently pushed the case for Lagos during Africa Week 2026 at King’s College London in the United Kingdom. He described Lagos as a powerful symbol of Africa’s potential and an example of how sub-national governments can drive economic growth and global influence.
According to the governor, Lagos has evolved into Africa’s second-largest city economy, with an estimated Gross Domestic Product of about $259 billion on a purchasing power parity basis. He said the city has become Nigeria’s principal commercial gateway and a major destination for investment, enterprise and talent.
Sanwo-Olu noted that despite occupying a relatively small landmass within Nigeria, Lagos has grown into one of the continent’s most economically consequential urban centres. He said policy, innovation and enterprise had combined to shape not only local development but also regional and global economic conversations.
The numbers partly explain the attraction. Lagos has an estimated population of about 22 million people and remains Africa’s most populous city. Officials estimate the population could exceed 30 million within a few years, with annual growth estimated at 3.2 per cent. More than 45 per cent of Nigeria’s skilled manpower is said to reside in Lagos, while the literacy rate stands at 92 per cent.
Infrastructure remains central to the state’s investment push. Projects such as the Lekki Deep Sea Port, the Lekki Free Zone and the Dangote refinery corridor are being promoted as evidence of Lagos’ ambition to become a regional logistics and industrial hub.
The Lekki Free Zone has emerged as one of the focal points of the state’s industrial strategy. Located along the Lekki Peninsula, the zone is designed to attract manufacturing, logistics, energy and technology investments through tax incentives and infrastructure support. Officials say the area is expected to support industries ranging from automobile assembly and agro processing to tourism and real estate.
Sanwo Olu said his administration’s development philosophy since 2019 has been to treat Lagos not as a challenge to be managed but as a platform to be unlocked. He said this vision is reflected in the state’s THEMES+ agenda, which focuses on transport, health, education, technology, urban development, security and social inclusion.
Transport reform has remained a major part of that strategy. The governor pointed to the commencement of passenger operations on the Blue Line Rail and the inauguration of the Red Line Rail, alongside investments in roads, bridges, bus reforms and water transportation.
“These are not isolated projects but part of a deliberate attempt to transform how a city of Lagos’ scale functions,” he said.
The governor also listed achievements, including the delivery of more than 3,000 affordable housing units, deployment of 250 patrol vehicles for security operations and the acquisition of 62 fire trucks to strengthen emergency response services. He added that the state had invested in food security initiatives such as the Imota Rice Mill and expanded logistics systems.
Housing remains one of Lagos’ biggest economic and social challenges. State documents estimate a housing deficit of about 1.8 million units, while housing demand is projected to grow by 20 per cent annually. About 80 per cent of households are estimated to live in rented accommodation.
Technology and financial services continue to define much of modern Lagos. The city has emerged as Nigeria’s leading technology ecosystem, attracting startups, venture capital firms and multinational companies. Sanwo Olu said Lagos now hosts more than 2,000 startups and has produced five unicorns in fintech and digital commerce. The city has also been ranked among the world’s fastest-growing technology ecosystems.
The governor said Lagos’ ₦4.44 trillion budget for 2026 reflects the administration’s determination to continue investing in infrastructure, social services and economic competitiveness. He added that Lagos accounts for a significant share of Nigeria’s capital importation and internally generated revenue, arguing that a strong Lagos ultimately strengthens the national economy.
He also highlighted the growing importance of the creative economy. According to him, sectors such as music, film, fashion, design and digital content have turned Lagos into a major creative hub, with Nollywood and Nigerian musicians projecting African creativity globally.
Still, challenges remain. Traffic congestion, flooding, pressure on public infrastructure and concerns about the cost of doing business continue to affect residents and investors alike. Economic inequality also remains visible across the city, where luxury developments exist alongside overcrowded communities with limited services.
For the Lagos State Government, Invest in Lagos 3.0 is therefore more than a promotional event. It is an attempt to strengthen confidence in the city’s long-term economic direction at a time when African economies are competing aggressively for global capital.
Whether through ports, finance, technology, manufacturing or consumer markets, Lagos continues to present itself as a city too important for investors to ignore. The challenge, as always, will be balancing rapid growth with the infrastructure and governance needed to sustain it.
*Olumide Iyanda is the publisher of QEDNG and convener of the QEDNG Creative Powerhouse Summit*
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Wike’s Media Parleys And Matters Arising
By Habib Aruna
Former Rivers State governor and now Minister of the Federal Capital City, Nyesom Wike is a politician that enjoys being in the news. If he’s not making news at state functions or political events, the loquacious politician would want to be in the news by organizing his now famous Media Briefings, where senior journalists will sit down as pupils while Wike talks to them like headmaster.
The last one held early this week kept me wondering what this circuit is all about. What does he really want to gain by the dozens of millions of Naira spent on press parleys and where is the money coming from? Is it from his private pocket or from the state? If it’s from the state, who is accounting for it? Or is he just dipping his hand into state coffers without subjecting himself to due process? And how is the money expended on these media briefings accounted for?
Because we need to begin to ask pertinent questions when taxpayers’ money is being used for purposes that are not directly beneficial to them. Wike did not start his media parleys in Abuja, it indeed started when he was governor of the oil rich state of Rivers. This was where he gained national prominence with the way he engaged national TV stations and paid for hours to air his views on critical and crucial national issues. He elevated this approach when he was appointed the FCT minister by President Bola Tinubu and he has used the platform to promote the agenda of the president while also using it to castigate his political enemies.
In truth, there is nothing bad for a politician in a democratic setting, to occasionally engage the media and by doing so, let the public know what his government, ministry or agency is doing. It is part of being accountable and responsible to the citizens, who constitutionally deserve to know how their commonwealth and resources are being spent. The worry however, is when these parleys are organized solely for political purposes or to target political opponents.
Television has been a major means of communication or passing information since the late 40s. Former United States President, John Kennedy made it the biggest and widest means of reaching the audience. Since then, political leaders have used the TV at every opportunity to send their messages to their targeted audience. We can remember how successive US governments used the daily White House daily briefings to explain cogent issues affecting the American people. Not to forget that television debates between candidates of political parties, for decades, became an integral part of the election process.
It’s however not every leader that understood the power of the tube and its efficacy; while leaders like United States President, Donald Trump would use every opportunity to talk to journalists on germane issues, others like Tinubu have not find it expedient to engage, even State House reporters, on burning issues in the polity. What stops the president to surprise Villa Correspondents and address the current disturbing security situation in the country and to use the auspices to assure Nigerians of their safety, while pledging the safety return of students and teachers recently abducted in Oyo State.
Through Former President, Olusegun Obasanjo’s quarterly media chat, we were able to know the thinking of Aso rock on major challenges facing the country and what the federal government is doing to fix them. The health challenges faced by Musa Yar’Adua had an adverse effect in the way he relates to the media. I can’t vividly remember any notable engagement he had with journalists before his passing. Gooduck Jonathan’s tenure was not in any way better, even though he had an effective Media team led by Dr Rueben Abati. Jonathan was not media friendly even with his gentle mien and harmless personality. He is a man of short words and not a robust communicator.
President Mohammadu Buhari was also not a man that is friendly with television cameras and microphone. Notably shy and not used to speaking too much! One can easily count the amount of time he spent speaking to journalists during his eight years in power. Needless to say that he also had top media advisers who have paid their dues in the profession and who should have insisted that he do more in talking to the media so that matters of public importance are not left in the realm of undue public speculation.
All our presidents since 1999 came in with the right media team, who can boast of requisite experience of managing the image of the number one citizen and his office. Curiously however, they all failed to make their principals more exposed to the klieg light, thereby denying Nigerians the opportunity of seeing and listening to their leaders directly. I can’t remember any of our presidents taking a stroll within the villa to eat lunch, using the opportunity to engage journalists at the Press Centre or granting interviews when the media least expected. That will absolutely be a day to remember!
That is why Wike supporters are quick to rise to his defence, for according to them, the minister is using what he has to get what he wants. They argued that the minister understood the influence and reach of buying TV time to send his message and ‘harass’ perceived political opponents. But at what cost? The last media parley was shown live on five national TV stations. That is hundreds of millions of Naira, and if you add other logistics it will be running to yet other millions. As already pointed out above, where is this money coming from? Is it from Wike’s pocket or from the FCT treasury? If it’s from the FCT, who approved it and who will account for it? Which of the Senate committees are looking at the books to make sure tax payers money are well accounted for and not wasted to promote the political agenda of Wike?
For sure, these live media broadcasts do not come cheap and if FCT money is being used for these shows, then there must be accountability and responsibility from Wike and his co-travellers. It is only then that we can be rest assured that those who are calling for equity are doing so with clean hands.
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