Tinubu’s foreign trips won’t attract investors – CUPP National Secretary
In this interview with AYOOLA OLASUPO, the National Secretary of Coalition of United Political Parties, Peter Ameh, delves into the intricacies of President Bola Tinubu’s administration and the challenges and opportunities that lie ahead for the nation.
Why did you say that President Bola Tinubu’s administration, has profited from questionable projects and procurements while borrowing for infrastructural development?
My concern is specifically about the mismanagement of our public resources and the lack of prioritisation in public expenditure. I have emphasised for a long time that the government must prioritise the interests of the public rather than indulge in self-serving luxury while the people continue to suffer.
If you look at what the government—whether the legislature or the executive—has done, they have allocated budgets to projects that don’t have an immediate positive impact on the general population, such as the National Library project, the National Assembly, the car park project, the purchase of the Maybach car for President Tinubu, and the acquisition of a relatively new private jet. Meanwhile, the American president’s private jet is over 30 years old.
This lack of prioritisation and failure to put Nigeria’s needs at the forefront of governance is the essence of my campaign.
There is no transparent process. For example, we still don’t know in which budget the approval for the purchase of the president’s private jet was made. Where is the public disclosure? Any government that operates in secrecy and lacks transparency will inevitably be seen as mismanaging public funds.
Is that why you claim that the wasteful spending of President Tinubu’s government is insensitive to the current issues in the country?
I have stated that Bola Tinubu’s government is wasteful and adds to the burden of the already strained Nigerian economy. The government is careless with its extravagant spending of public resources without purpose and needs to exercise extreme caution.
You can’t continue to spend money recklessly while Nigerians are struggling to survive. Nigeria and its citizens will continue to bear the high cost of governance, but the government has the power to change that.
The president refuses to align with his call for Nigerians to adopt austerity measures. He says there’s a need to implement the Oronsaye report and cut the cost of governance, yet he is creating new ministries and continues to waste public funds.
The president’s role is not to make Nigeria his second home but to remain in the country and work for the benefit of its people. Nigeria continues to endure the harsh realities of this lavish lifestyle, and the president’s “I don’t care” attitude only adds to the suffering of our citizens.
It is evident that the president has demonstrated incompetence; no rational leader would implement a policy like the removal of subsidies without first reviewing the necessary financial details.
Today, we hear about under-the-table dealings and dubious payments regarding subsidies, revealing his inability to manage our economy effectively.
The A330 jet, recently purchased for $100m, with an additional $15m spent on gadgets and state-of-the-art equipment, raises further questions.
Consider how old the plane we previously used was, and it was bought by former President Olusegun Obasanjo.
In comparison, the American president’s Air Force One is over 30 years old, while ours is only 15 or 19 years old, yet we are already acquiring another.
If the president truly cared for Nigeria, he would not have spent such an exorbitant amount.
Public hearings on these issues are essential, as Nigeria faces a crisis unlike any in our history. Many Nigerians cannot afford food, and the cries of hunger are growing louder.
Transportation costs have skyrocketed, making it difficult for people to move around, yet the president believes this is the appropriate time to make such purchases.
He is spending over a billion naira while expecting workers to perform efficiently on a salary of N70,000. He is also urging Nigerian lecturers and members of the Academic Staff Union of Universities to invest in their jobs. Why not prioritise our universities instead?
The government continues to waste public resources while asking our educational institutions to tighten their belts.
Are the president’s trips to other countries not necessary to attract investors to Nigeria?
The government is structured with ministers responsible for various sectors, including tourism. However, one thing is clear: investors will not come to a country that is unsafe for them.
Without security, an environment that facilitates the free movement of people and goods, and proper roads to transport products from factories to markets, investors will steer clear.
This highlights the importance of localising industries and providing basic amenities, such as electricity. Currently, many Nigerians are struggling, and small businesses are closing down. The statistics are alarming. The only investors drawn to Nigeria are often those involved in briefcase businesses looking to exploit our crude oil, given that we operate a mono-product economy. Beyond this, few are interested in large-scale manufacturing or exploring other sectors due to the prevailing security issues.
During a recent visit to Abuja, I noticed that Chinese workers were being guarded by police, which reflected their fear and this unsettled me.
As someone born in Lagos and who has lived in Abuja for many years, witnessing such fear in major cities signals a serious problem. What, then, is happening in rural areas that remain ungoverned?
The president’s trips abroad without conducting proper assessments at home are a waste of resources. To attract investors, essential infrastructure must be established. Look at Dubai; they effortlessly attract investors because the environment is conducive. People are eager to invest when conditions are right.
Currently, we lack an enabling environment, primarily due to inadequate security. The constitution mandates that the government provide security for life and property, which is its fundamental responsibility. With security in place, everything thrives. People can move freely, access farms or industries, and travel safely by land or sea without fear of attacks from bandits or militants.
The president must re-examine our security architecture. Why are people being held hostage in Katsina and Zamfara? Why is the Middle Belt unsafe, hindering farming? Why are our roads impassable, and our airports not meeting 21st century international standards?
Once these issues are addressed, investors will come without the president needing to travel abroad. Numerous global indicators, such as security and power ratings, serve as checklists for investors. Failing to meet these basic requirements means the president is wasting taxpayer money on unnecessary trips in pursuit of people who are unlikely to come. Recall when ExxonMobil promised to invest in Nigeria but ultimately chose Ghana instead. This exemplifies the consequences of failing to foster a conducive business environment.
The ease of doing business in Nigeria is dismal. Navigating any ministry just to obtain basic information is often a cumbersome process, primarily due to poorly trained staff.
Foreigners frequently face extortion. The civil service requires significant training, and there must be schemes for housing and transportation.
Instead of addressing these, the president’s policies have devalued money, leading to rampant inflation.
This inflation is not solely the result of excessive money chasing fewer goods or tariff increases aimed at discouraging imports; it is also driven by irrational government decisions, wasteful spending, and attempts to bridge fiscal gaps through further expenditure.
When the president announced the removal of fuel subsidies, petrol prices at filling stations soared to N700 and above. Imagine the struggles of Nigerian workers. Many rely on the African communal lifestyle, receiving financial assistance from family members to make ends meet. Without this support, many workers would struggle to reach their workplaces.
The president appears oblivious to the hardships faced by the populace. The issue with Nigeria is that those in government often display insensitivity. Once they enter the villa and embrace a luxurious lifestyle funded by taxpayers, they develop collective amnesia, forgetting the citizens who expect effective governance from them.
With the recent hike in fuel prices and scarcity, why did you say that the NNPC should not play a parasitic role in the pricing of Dangote petrol for long-suffering Nigerians?
The NNPC should now focus on developing modern refineries or creating a conducive environment for businesses to build refineries in Nigeria. Given our strategic location as a crude oil-producing nation, we have the potential to benefit neighbouring countries significantly.
If the NNPC were to involve itself in regulating prices—especially when the Ministry of Agriculture does not regulate the prices of essential items like tomatoes and yams—it would be inappropriate. The NNPC’s role should be to ensure that investments are made and allowed to profit from the business side of operations.
The government will still collect taxes from Dangote’s business and the products he sells.
For the NNPC to act as a middleman or buffer between marketers and end users would only create bureaucratic bottlenecks, ultimately increasing the cost of PMS for Nigerians. It is crucial to understand that the NNPC is already selling crude oil and making profits in various ways, so it should not target Nigerians for additional profits, forcing the masses to suffer.
Given that there are no tariffs, import duties, landing costs, or transportation expenses involved, the NNPC should invest in utilising our existing infrastructure. This includes the pipelines that transport crude oil to the Kaduna and Port Harcourt refineries and depots in Lagos, Port Harcourt, and other locations. They should quickly invest in connecting this infrastructure to the Dangote refinery to facilitate the long-distance transportation of products, thereby reducing the cost of PMS and making it more affordable for Nigerians.
Current inflation is primarily driven by two factors. First is President Tinubu’s abrupt decision to remove fuel subsidies without proper planning or restructuring.
The discussion around CNG was an afterthought, one that should have been addressed before the subsidy was lifted. Second is the devaluation of the naira. These actions were taken without a thorough review of Nigeria’s financial status and debt, resulting in uninformed decisions.
We advocate the NNPC to allow demand and supply to dictate the price of PMS through free market policies, enabling the Dangote refinery to lower prices. Since Nigeria has already given him a naira cost advantage, the NNPC should leverage this.
We should not face forex pressure, which would help strengthen the naira against the dollar. Therefore, we must eliminate the bottlenecks that have long plagued our oil industry, which includes addressing corruption within the system.
Pricing of petroleum products from Dangote refinery has been a contentious issue for marketers and the NNPC. Some believe that, since the product is now produced locally, the price should decrease. Do you agree with that?
I want to understand the factors driving petroleum prices so high, as marketers argue that PMS in Nigeria should not be more expensive than imported fuel. I believe the government is contributing to this issue by seeking to profit from petrol sales acting as a distributor for Dangote refinery, and adding its own pricing.
The government shouldn’t be involved in this way; it should purchase at market price, sell through NNPC filling stations, and make profits from there while allowing marketers to buy and sell freely.
The real problem lies with the government. What Dangote has achieved is revolutionary; he has saved the country from potential shame and embarrassment. Yet, people view him as a villain. Someone who is taking advantage of the monopoly he currently holds. He must resist any pressure from the government that could turn public sentiment against him when, in reality, Nigerians should be grateful.
PMS is not the only by-product of crude oil; there are other products as well, so it’s unfair to place the entire financial burden on the masses.
Nigerians have already been impoverished by the poorly thought-out policies of the APC government. We cannot continue to exploit the people, turning them into beasts of burden, trekking long distances when they should be enjoying the benefits of living in a country blessed with gas and crude oil.
What are your thoughts on the view that the country is experiencing an almost comatose opposition?
None of us, even those in opposition, are impressed, as the opposition is crucial. In fact, I often tell Nigerians to ensure that the opposition remains strong. The role of the opposition is to challenge the decisions of those in government, and the inability to do so has exposed a glaring weakness in Nigeria’s opposition and its failure to hold the ruling party accountable or to push it to perform better.
A strong opposition party is essential in any democratic system, as it keeps the ruling party’s power in check, ensuring that their actions are transparent and accountable. However, I won’t shy away from the truth: the absence of a robust opposition allows the ruling party to act with impunity, which is why we are suffering the consequences of poor governance.
But Peter Obi of the Labour Party and Atiku Abubakar of the PDP have been doing that. Are they not doing enough?
Sincerely, people must have confidence in political parties. These parties need to be accountable to the public, as they are public institutions, not merely community or village associations. They are creations of law and belong to the people. This is why they have a life of their own and are self-sustaining. Leadership comes and goes, but political parties must build policies that resonate with the public, ensuring transparency and accountability to restore trust.
The problem lies in political parties not being fully attuned to the desires of the public. They must align with the constitutional rules and regulations, as well as the guidelines for political parties. These principles are vital. If we have 18 or 19 political parties today that all present incompetent or corrupt candidates, we will end up voting for the wrong people. Political parties are the first line of leadership selection, and it’s crucial that when citizens go to the ballot, they have the best possible choices.
Political parties are essential, and we must do everything to keep them alive, sustain them, and interrogate their policies and agendas for the country. Failing to do this will have severe consequences. It is crucial to cultivate a stronger, more robust opposition because, without it, we risk becoming a one-party state.
