Nigeria's Labour Party leader and Presidential Candidate of the party in the 2023 general election, Peter Obi, has congratulated the newly elected 47th President of the United States, Donald Trump.

The Labour Party leader expressed the hope that Trump's victory will help to deepen democracy globally and engender much-needed peace in the World.

Obi commended the US electoral officials as well as the people of America for conducting a successful poll.

Signed 

Ibrahim Umar 

POMR SPOKESMAN

The two major trade groups in the petroleum downstream market are up in arms with Dangote Refinery, accusing it of monopolistic tendencies to dominate the sector and dictate prices. Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Association of Nigeria (PETROAN) are insisting that petrol from Dangote Refinery is costlier than imported substitutes and so, they should be allowed to import the product for the benefit of Nigerians. But in a counter argument, Dangote Refinery says its pricing is benchmarked against international prices ‘’and we believe our prices are competitive relative to the price of imports’; that any product brought into the country at a lower price must be of inferior quality, and could pose health risks to Nigerians and damage their vehicles. ‘’If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products and conniving with international traders to dump low quality products into the country without concern for the health of Nigerians and the longevity of their vehicles. Unfortunately, the regulator (NMDPRA) does not even have a laboratory facilities which can be used to detect substandard products imported into the country’’, the refiner stated in a press statement last Sunday.

This controversy throws up two options with far-reaching consequences for the Nigerian economy: should we return to the era of fuel importation and bring in cheaper products, even if they are of poor quality, or do we resist importation and stick with what Dangote and other local refiners produce? We should consider these options dispassionately before we make a choice. First, what are the implications of continued fuel importation? Importation will further depreciate the value of the Naira, drain our scarce foreign reserves and exacerbate inflation and cost-of-living crisis. Recall that at the peak of our fuel importation, the CBN had told us that 40% of foreign exchange is used for fuel imports. If the imported substitutes are cheaper as IPMAN stated, the savings motorists make in fuel price may just be offset by a concomitant spike in inflation and the cost of car repairs.

But what do we gain as a country and a developing economy if we do away with importation and buy only from Dangote, even if its price is higher than the price of cheaper imported products? We shall be supporting and protecting domestic industrialization; creating jobs for our young people; enhancing tax income for the government and establishing incentives for other foreign and domestic investors. A potential investor is always eager to understand the attitudes of the government towards new investments – is the government pro business or not? Are there enough incentives and protection for domestic production? The manner we treat Dangote today is sending some signals to other would-be investors.

It is natural for a new producer to launch its products or services with relatively initial high prices; but in the long-run, charges begin to fall as output increases and economies of scale sets in. Even before its prices begin to dip, the manufacturer surely offers other benefits to the economy which importers don’t. This is why nations, including developed ones, go the extra mile to protect domestic investments. It is the reason US government imposes high tariffs on goods imported from China and the Biden administration does not approve the purchase of American steel giant, United States Steel Corporation, by Japanese investors. Similarly, Nigeria must take steps to protect and encourage Nigerian investors who borrow money from banks and invest in this economy to create products and generate employment for our teeming young talents. A domestic producer pays taxes to the government and provides many philanthropic assistance to the community in which it operates.

We cannot afford to go back to fuel importation. The Petroleum Industry Act clearly stands against fuel importation whenever local production is available, and, as economists are wont to explain, importation exports jobs and brings in inflation. Those who are touting importation of petrol as an alternative to domestic refining are buccaneers and profiteers who are not interested in the growth and development of this country. This is the time for the Tinubu administration to be very categorical and firm on this matter by insisting that Nigeria will not go back to the era of fuel importation, and that we must be intentional about developing our country and encouraging production.

Our domestic investors, big or small - whether it is Innoson Motors; Ibom Airlines; Dangote Refinery or that small bakery in your neighbourhood - deserves our encouragement and incentives. They create jobs; pay taxes; generate own electricity; add value and are the reason the government is hoping for a $1 trillion dollar economy. I acknowledge that Nigerians are facing severe challenges due to high fuel prices. I am also aware that Dangote Refinery was built at a humongous cost (close to $15 billion) borrowed from both international and domestic sources. Bank charges are high and breakeven point is still far; and to that extent, it must charge commensurate prices for its products. The refinery should therefore strike a balance between the need to cover costs, especially its variable costs, in the immediate term, and the imperatives to consider the diminished purchasing power of the consumers. Clearly, petrol enjoys inelastic demand, but there’s a limit to what consumers can take in terms of price increase. The refinery’s tax-free status and guarantees supply of Naira-denominated crude oil should help it to absorb some costs and keep product prices competitive. Similarly, NNPC should tell Nigerians the status of the turnaround maintenance of the Port Harcourt refinery. Will the four refineries ever come back to life?

Etim is a journalist and author

Too many Nigerians are too difficult to understand, most especially the educated ones among them, or, should I say, the supposedly-educated! They approbate and reprobate at the same time. In one breath they affirm that they stand for something; in yet another they negate the same thing they claimed to stand for. They condemn corruption but are themselves corruption personified. They rail at bad governance only as they wait for the opportunity to get into government and do worse things! That is why nothing gets better here but gets worse. The corruption of each sitting government becomes worse than its predecessor’s! Ad nauseam; ad infinitum! 

Frederick Douglas's (1857) description best fits the Nigerian elite “who want crops without plowing up the ground; they want rain without thunder and lightning. They want the ocean without the awful roar of its many waters”. But there can be no progress without discipline, law and order. Development is impossible in the absence of fidelity for principles and consistency. Thank God, I long ago gave up on Nigeria; such that the shenanigans of both its leaders and the led hardly get under my skin anymore.

I do not think we can have any people more duplicitous than some Nigerians. The elites especially speak from both sides of the mouth. In the name of politics, they pull down anything and everything just to make dubious claims and score cheap political points against perceived opponents. That way, nothing works and they never will! Scoring cheap political points is higher on their scale of preference than what better serves the national interest. That way, they tied the hands of the President Bola Ahmed Tinubu government when it tried to relocate some departments of government from Abuja for greater efficiency; just as they are also trying to frighten it away from tax reforms that aim at discouraging the “monkey dey work, baboon dey chop” Nigerian system. 

The controversy trailing the kid protesters is yet another. Still, these are the same people who, on social media, inundates us each moment with the giant strides that China and Chinese kids are making! We envy them; we wish we could appropriate for ourselves their achievements but detest the discipline and hard work giving birth to their mouth-gaping innovations!

Some Nigerian youths or kids are said to be too young to face the consequences of their action and the entire polity was (premeditatedly?) gutted as a result! My goodness! Yet, the same youths or kids were not too young to kill, maim and commit harakiri! They were not too young to burn down public and private property! They were not too young to ruin lifetime investments, achievements and livelihoods! And we saw them on television do all of this with uncommon gusto as well as with relish. They were not too young to commit those crimes! May you not encounter them and their rage!

The Boko Haram monsters of today were like those youths and kids decades back. They were also the foot soldiers employed in countless religious riots across towns and cities in the North. The bandits and terrorists of today similarly came through the ranks of lawless youths and kids used as cannon fodders and wreckers of destinies by feudal forces that have held this country down for over a century. We have watched them slit the throats of human beings as if they were goats or chicken! We witnessed as they carried the head of Gideon Akalula on a spike, celebrating with it in the streets of Kano.

 If Akaluka has receded far into memory, what of the girl Deborah Yakubu who was gruesomely murdered in Sokoto with no consequences following? When, in 2011, Muhammadu Buhari bayed for blood with his incendiary statement of monkeys and baboons being soaked in blood, youths and kids from his section of the country were the executioners. How many Youth Corpers from the South, the hope of their families, had their throats slit in details too gory to recount here!

What I am driving at here is that there must be consequences for every action - good or bad. And not only must there be consequences, they must comply with Isaac Newton’s Third Law of Motion which states that for every action or force in nature, there is an equal and opposite reaction. Not only must everyone pay for their action, the remuneration must be commensurate with the harm or havoc done. Therefore, anyone who knowingly, whimsically, callously and premeditatedly takes the life of another person must also pay with his or her own life. Those who similarly destroy public and private property must be made to face the music.

 If you are not too young to commit a crime, you should not be too young to pay the prescribed penalty. Anyone who thinks, speaks, or acts to the contrary is a public enemy. People like them sired the bandits and terrorists of today. Those of them holding the government’s hand and not allowing criminally-minded youths or kids to be brought to book are breeding the bandits and terrorists of tomorrow. In future, the victims of the Frankenstein monsters they are breeding today will be their own children and grandchildren. By then, it will be too late for them to cry! Drink from the elders’ pot of wisdom! It says: “Oka bi’mo si’le - oro!” There is no way the child of a cobra will not grow up to become a cobra!

Have I said there should be no protests against bad governance? Not at all! There can even be protests against a government that is doing well - if only for it to make its best better. Besides, no government is perfect. There must always be room for improvement. Every sector or segment of society cannot be satisfied at the same time. What ails one may be the pleasure of the other. Hence, Jeremy Bentham and the other Utilitarian philosophers posit that “the greatest happiness of the greatest number” is the purpose of government.

 So, there will always be grievances. There will always be protests; more so in a democracy where the people are awarded the liberty of freedom of speech, even if mostly only on paper. Should the government, therefore, allow protests? Yes, it has a duty not only to do so but to also offer protection to protesters. We must continue to drum this into the ears of the government and to insist it is done. The Constitution, which is the ground rule of the country, mandates them to do so. If they fail to comply, then, they flout the Constitution and in saner societies, that is enough ground to impeach the government or vote it out of office at the next election cycle.

Protesters, however, have the duty to keep their protests peaceful. Their rights of protest also presupposes the rights of other citizens to shun protests and go about their own lawful business. Therefore, protesters must not become unruly or violent as to disrupt or endanger public peace. They must not destroy public and private property. 

During the last #ENDBADGOVERNANCE protests we witnessed the massive destruction of public and private property. I saw on social media a Pharmaceutical Stores burnt to ashes and the abject owner asking where they expected him to start from! Many lives were also lost. It is trite that your rights stop where that of the other person starts. Otherwise, society becomes impossible to govern and we return to the Hobbesian state of nature - a state of lawlessness and chaos; of the war of all against all; where life is solitary, brutish, nasty and short.

There must be a government - whether we like it or not; and whether or not we like the face of the person in the saddle or we think we know or can perform better than him. And it is in our interest that the government is allowed to govern. The lawlessness ravaging many parts of the country today is as a result of the impunity of the past. The impunity of the present will, in like manner, jeopardise the peace, safety, security and prosperity of future generations.

 If the kids in question participated in the #ENDBADGOVERNANCE mayhem in some parts of the country, they should, for goodness sake, be allowed to face the music and learn useful lessons that will make them into better citizens. Those who recruited and coralled them into such dangerous assignments should also be fished out and be made to face the music. Bad behaviour must attract commensurate consequences. The security threats we face today will be a child’s play compared to what our children and grandchildren will face tomorrow if we continue to treat (kid) criminals with kid gloves.

 Have we forgotten so soon the horror kid soldiers (criminals) unleashed on hapless citizens during the Liberian and Sierra Leone’s civil wars?

FEEDBACK

I read through your piece on forest rangers and Oyo state’s reported pioneering role in its re-introduction. Kindly note that the Ekiti State governor inaugurated our own version known as Agro Rangers as far back as April this year. They are to focus more on securing Ekiti farmlands - Yinka Oyebode, Chief Press Secretary to the Ekiti State Governor.

My response: Great! Let’s have the details, please! The other South-west governors should please follow suit. Keeping the South-west safe and secure is a task that must be done!      

Former Editor of PUNCH newspapers, Chairman of its Editorial Board and Deputy Editor-in-chief, BOLAWOLE was also the Managing Director/ Editor-in-chief of The WESTERNER newsmagazine. He writes the ON THE LORD'S DAY column in the Sunday TRIBUNE and TREASURES column in NEW TELEGRAPH newspaper on Wednesdays. He is also a public affairs analyst on radio and television.

President Bola Ahmed Tinubu, Commander-in-Chief of the Armed Forces, has announced the death of Lt. General Taoreed Abiodun Lagbaja, Chief of the Army Staff.

Lagbaja died at the age of 56.

According to a statement issued by the Special Adviser to the President, Information and Strategy, Bayo Onanuga, he passed away on Tuesday night in Lagos after a period of illness.

“Born on February 28, 1968, Lt. General Lagbaja was appointed Chief of Army Staff on June 19, 2023, by President Tinubu.

“His distinguished military career began when he enrolled in the Nigerian Defence Academy in 1987. On September 19, 1992, he was commissioned as a Second Lieutenant in the Nigerian Infantry Corps as a member of the 39th Regular Course.

“Throughout his service, Lt. General Lagbaja demonstrated exceptional leadership and commitment, serving as a platoon commander in the 93 Battalion and the 72 Special Forces Battalion.

“He played pivotal roles in numerous internal security operations, including Operation ZAKI in Benue State, Lafiya Dole in Borno, Udoka in Southeast Nigeria, and Operation Forest Sanity across Kaduna and Niger States.

“An alumnus of the prestigious U.S. Army War College, he earned a Master’s degree in Strategic Studies, demonstrating his dedication to professional growth and excellence in military leadership.

“Lt. General Lagbaja is survived by his beloved wife, Mariya, and their two children.

“President Tinubu expresses his heartfelt condolences to the family and the Nigerian Armed Forces during this difficult time. He wishes Lt. General Lagbaja eternal peace and honors his significant contributions to the nation,” the statement added.

[DailyPost]

In a world that celebrates unity and cultural diversity, beauty pageants offer more than just a stage for glamour; they serve as platforms to foster inclusion, break down stereotypes, and empower women globally. Yet, recent actions taken against Miss Universe Nigeria, Chidimma Adetshina, by South African authorities threaten to undermine these values. The Progressive Forces of South Africa have launched a petition to bar Adetshina from representing Nigeria at the international Miss Universe pageant, citing allegations of identity theft due to unresolved concerns surrounding her and her mother’s South African identity documents. This move, while draped in legal concerns, appears to be rooted more in prejudice and a skewed view of nationality than in legitimate claims of identity fraud.

Despite having previously withdrawn from the Miss South Africa pageant under similar pressure, Adetshina’s resilience and ultimate victory at Miss Universe Nigeria demonstrate her rightful place on the global stage. The accusations against her, fueled by a vocal faction, raise important questions about the boundaries of citizenship, belonging, and the unnecessary politicization of a platform meant for celebration and empowerment.

It is essential to understand the unique dynamics that underpin Adetshina’s story. Born to a Nigerian father and a Mozambican-born mother, she represents a merging of cultures that echoes Africa’s rich and diverse heritage. For centuries, African identity has been more of a tapestry than a linear tale, with interwoven roots stretching across borders. As such, it is troubling when the legitimacy of one’s identity is called into question based solely on bureaucratic technicalities.

In Adetshina’s case, the Department of Home Affairs in South Africa recently announced its intent to revoke her and her mother’s South African identity and travel documents. While the Department’s legal justification for this decision hinges on document verification, this appears disproportionately severe given the lack of proven criminal intent or harm. In most cases, people are given a grace period to correct any issues related to documentation. Revoking identification, especially without due process, strips an individual of their dignity and fundamental rights.

Adetshina’s experience reflects a concerning pattern, as this marks the second instance of South Africans attempting to bar her from a pageant. In her first brush with discrimination, she was forced to withdraw from the Miss South Africa pageant, succumbing to pressure and the notion that she was “not South African enough.” Her re-entry into the world of pageantry through Miss Universe Nigeria should have symbolized a fresh start, a reclamation of her dignity and potential. Instead, it has reawakened the same old prejudices, suggesting that the opposition against her may be less about adherence to laws and more about identity politics.

The Progressive Forces of South Africa justify their stance by arguing that her participation compromises Miss Universe’s “integrity.” This, however, seems to imply a misguided understanding of what the pageant stands for. Miss Universe prides itself on inclusivity, diversity, and the celebration of multicultural backgrounds. To impose rigid nationalistic constraints on contestants erodes these core values and threatens to turn the platform into a battleground for exclusionary identity politics.

Adetshina’s situation underscores a troubling contradiction within modern-day pageantry. Beauty contests today are marketed as platforms for women’s empowerment, pushing contestants to be ambassadors of change in their societies. They celebrate qualities like resilience, intelligence, and compassion over mere physical appearance. Yet, Adetshina’s experience illustrates how easily women’s achievements can be dismissed based on arbitrary criteria. The intense scrutiny over her identity not only shifts attention away from her accomplishments but actively belittles them.

One has to question why, in an age that champions women’s progress, we still see cases where a woman’s achievements are overshadowed by attempts to delegitimize her for reasons she cannot control. Her success in winning the Miss Universe Nigeria title should have granted her a fair opportunity to showcase her talent and serve as a role model on an international stage. Instead, she is being unfairly penalized.

The petition against Adetshina, backed by over 1,182 signatories, is a stark reminder of how easily a platform meant to unite can be weaponized to divide. South Africa, like much of Africa, faces ongoing challenges in fostering unity among its diverse populations. Anti-immigrant sentiment has flared in various contexts, often targeting individuals and communities with long-standing roots in the country. By targeting Adetshina, this petition does more than attempt to deny one person an opportunity, it sends a message to all Africans of mixed heritage that they must “prove” their worthiness and defend their identity at every turn.

In a world that is increasingly globalized, where people of different backgrounds live and thrive together, the fixation on rigid, single-nation identities is outdated and counterproductive. Miss Universe, as an institution, should exemplify progress, unity, and the celebration of shared humanity. Excluding Adetshina from this stage sends the wrong message, portraying beauty pageants not as inclusive events but as nationalist exercises, a perception that could have long-lasting, negative effects on the industry.

The Miss Universe Organization has a choice in how it responds to the pressures surrounding Adetshina’s participation. If the organization gives in to these exclusionary demands, it risks compromising its principles of inclusivity and representation. If, however, it stands firm in support of her rightful place on stage, it will uphold its mission of breaking down borders and uniting people across cultures.

As individuals, it is essential for us to question why some people are so quick to erect walls around identity, especially in contexts where those barriers do more harm than good. Adetshina’s fight is not merely a personal struggle; it reflects the broader challenges of young Africans who face complex identity issues amid stringent nationalism.

To truly support young African women, we must encourage platforms like Miss Universe to be places of acceptance and opportunity, not spaces where nationality overshadows talent, character, and commitment.

In closing, let us not allow rigid identity politics to rob deserving individuals like Chidimma Adetshina of their dreams. Let her beauty and intellect shine, for she represents more than herself, she embodies the hope of a united, progressive Africa. Miss Universe has the potential to be a beacon of this unity, a reminder that beauty knows no borders and that diversity is our greatest strength. Will the pageant stand up for these ideals, or will it cave to narrow definitions of belonging? For the sake of progress, let’s hope it chooses the former.

In a society that places increasing value on wealth and glamour, it is not uncommon to see certain figures in the limelight flaunting their material success as proof of their lifestyle choices. Recently, popular Nigerian social media personality Bobrisky made headlines during his travels abroad, as he drew attention not only to his journey but to the extravagant amount he spent on a first-class ticket. However, beneath this display of opulence lies a more important message for Nigerian youths: the pursuit of wealth alone does not lead to lasting satisfaction. In fact, the wisdom of scriptures warns us about the empty allure of materialism and the dangers of envying others whose values may not align with true purpose and fulfillment.

To many young Nigerians, the lives of celebrities and social media influencers like Bobrisky seem glamorous and attractive. The lure of a lifestyle filled with luxurious travel, expensive fashion, and lavish parties can indeed be enticing. However, such lifestyles are often unsustainable and do not necessarily reflect inner peace or happiness. The Bible reminds us in Proverbs 23:4-5, “Do not wear yourself out to get rich; do not trust your own cleverness. Cast but a glance at riches, and they are gone, for they will surely sprout wings and fly off to the sky like an eagle.”

The scripture emphasizes that material wealth is often temporary and can vanish as quickly as it appeared. This is why it is dangerous to base one’s self-worth on riches or to look up to those whose only testimony is the money they have spent. True success lies not in flaunting wealth, but in character, integrity, and impact on others’ lives.

It is natural to look up to public figures and be inspired, but there is a fine line between admiration and envy. Social media has intensified the tendency to compare ourselves with others. We see the surface-level highlights of people’s lives without knowing the full story, and this can lead to dissatisfaction with our own lives. Galatians 6:4-5 advises, “Each one should test their own actions. Then they can take pride in themselves alone, without comparing themselves to someone else, for each one should carry their own load.”

Many young people fall into the trap of chasing wealth and fame without considering whether these pursuits align with their values or their purpose. Bobrisky’s lifestyle may seem alluring to some, but his display of wealth without depth is a reminder that it is important to question what truly brings fulfillment. Do we want to pursue things that give temporary pleasure, or do we want to build lives rooted in meaning?

One of the greatest lessons we can draw from scripture is the power of contentment. In 1 Timothy 6:6-10, we read, “But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that. Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction.”

This passage underscores the peace that comes with being content and the dangers of chasing after wealth for its own sake. The joy that many think they will find in material things is often short-lived. Contentment, on the other hand, brings lasting peace and frees us from the exhausting pursuit of keeping up with others.

While Bobrisky may pride himself or herself on his or her financial achievements, true wealth is not measured by money alone. It is found in inner fulfillment, meaningful relationships, and a life of purpose. Ecclesiastes 5:10 reminds us, “Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.” Wealth in itself is not evil, but an unhealthy attachment to it can be dangerous.

The testimony of wealth that Bobrisky shares pales in comparison to the enduring impact of those who live with purpose, integrity, and a commitment to serving others. Young Nigerians are encouraged to seek fulfillment in personal growth, family, and contributions to society.

Young people today are faced with more choices than ever about who they want to be and what they want to stand for. Figures like Bobrisky may tempt some to abandon their own paths in favor of chasing fleeting glory. However, this is a distraction from what truly matters. Philippians 4:8 offers a wise guide: “Finally, brothers and sisters, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable, if anything is excellent or praiseworthy, think about such things.”

Choosing to live with purpose means aligning your life with values that bring out the best in you and inspire others. When we look to figures in the public eye, let us seek those whose lives reflect positive values, not just wealth.

At the end of the day, wealth and material things will fade. What remains is the impact we leave on others. Bobrisky’s wealth may serve his interests, but a life that truly matters is one that leaves a legacy of positive influence. Proverbs 22:1 tells us, “A good name is more desirable than great riches; to be esteemed is better than silver or gold.”

Instead of seeking to amass wealth for the sake of appearances, young Nigerians are encouraged to build a legacy of integrity, kindness, and contribution to their communities. These are the things that will be remembered long after the temporary allure of material wealth fades.

Against the foregoing cautionary backdrop, it is expedient to in this context urge Nigerian youths to seek lasting fulfillment, not temporary satisfaction.

It is essential for Nigerian youths to recognize that while wealth and success are valuable, they should not come at the expense of purpose and integrity. Bobrisky’s display of wealth may seem impressive to some, but it ultimately represents an empty pursuit if it lacks substance and positive impact. Let us choose role models whose lives reflect values worth emulating and aim to build lives of purpose, impact, and lasting contentment.

The words of Jesus in Matthew 6:19-21 resonate powerfully: “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”

In the end, the real treasures are not in luxury, fame, or social media validation but in the lasting fulfillment that comes from a life well-lived and a legacy rooted in love, service, and faith. Choose to invest in a life that goes beyond wealth, for it is there that true riches are found.

The naira faces more headwinds as the safe-haven currency rallied strongly amid rising odds of Donald Trump’s return to the U.S. presidency.

The naira settled at N1,664.91/$ in the NAFEX market, while in the black market, the local currency lingered near the N1,730 support line.

Although the U.S. elections were still too close to call, the U.S. dollar strengthened against the British pound in London due to speculators betting on Republican Donald Trump as the winner.

• Trump got a head start over Kamala Harris, with both candidates backed by pro-Republican factions. Key battleground races in states, where elites were expected to secure victories, became increasingly decisive.
• Markets now expect Donald Trump to narrowly beat Kamala Harris in a tight U.S. presidential contest. As a result, the dollar reached its highest value since July.
• The dollar, which had fallen to a two-week low against a basket of currencies earlier in the day, surged to record its highest level since April 14, 2005. The triumph and aftermath of the U.S. presidential election heightened investor fears and quickly spread throughout markets.

Trump’s criticism of the Federal Reserve’s independence and his potential influence on its policies could affect U.S. interest rates. Lower U.S. rates might keep the dollar weaker than expected, which could ease pressure on the naira. However, if his policies lead to higher U.S. interest rates to combat inflation, this could strengthen the dollar and put the Nigerian currency at a disadvantage.

A president advocating for stronger trade tariffs or protectionist policies, such as those proposed by Donald Trump, could lead to a stronger dollar, further pressuring the naira. If the U.S. implements tariffs that affect global trade—particularly with countries like China—this could trigger an economic recalibration, potentially strengthening the dollar against other currencies, including the naira.

Trump’s approach to international relations, especially concerning conflicts or trade disputes, could either create or alleviate geopolitical tensions. Whether the global environment stabilizes or remains volatile will affect investor confidence in emerging markets, impacting the naira’s value.

Elevated appetite for risk amid higher odds of Trump’s Presidency

Bitcoin soared past $75K, reaching its highest-ever level, driven by the sentiment that former President Trump would ease cryptocurrency regulations if he won the election.

• U.S. markets are expected to react sharply to the election results, with investors adopting a cautious approach. U.S. stocks recorded their highest gains in six weeks during Tuesday’s trading session.
• Currency traders are also concerned about market uncertainty ahead of Thursday’s interest rate-setting decisions by the Federal Reserve and the Bank of England.
• The VIX index, which serves as Wall Street’s “fear gauge,” reached a high of 23.4 late last week before dropping to around 20.5. Tuesday’s robust equity market returns likely contributed to the drop in anticipated short-term volatility.

Price activity suggests that naira short-sellers are firmly in control of the N1,650 support line in the unofficial black market. Given the growing demand for foreign currency—primarily for travel, gasoline imports, and tuition payments abroad—additional selling pressure is expected.

[Nairametrics]

The  foregoing is far from being a rhetorical question.

To be  sure, it would be important to know if teams of election observers from Nigeria and other African countries have left for the United States to monitor  the do-or die American elections.

After all, if American  civil society organisations  could sponsor the observer teams to monitor Nigerian elections, it should not be beyond contemplation that the American elections should be monitored by Nigerian observers too. 

To think otherwise would be nothing but inferiority complex and sheer Afropessimism in appreciating the dialectics of democratic development. 

Last year, the  reports of western  observers of the Nigerian elections were branded as the most authoritative on the emergent issues from the polls. The verdict on the results of the election by western observers  were deemed supreme.  Editors, columnists, bloggers, television and radio anchors as well as  other public intellectuals  quoted profusely  the reports of the foreign observers as they pummelled the Independent Electoral Commission (INEC). Meanwhile, hardly was notice taken of the fact that the  Nigerian Bar Association also put up teams to monitor the election and issued reports.

Election monitoring is said to be in three broad stages – pre-election; during the election and post-election. Beyond monitoring, psephologists (theorists of elections) would find ample materials for study in the American presidential election, which some commentators have described as the election like no other!  

Doubtless, election observers already have their job well cut out for them as America decides on its future at the polls.

There is indeed a lot to monitor in the elections. What with the fact of the strange news from America in the last few months, the campaigns have been defined by what the most charitable observers would call un-American manifestations. Before yesterday’s final day of voting, fears have been rife that America may be heading towards an inconclusive election, a development often associated with nascent liberal democracies.  There have been reports of violence in words and action. Security men  have been put on red alert. Former President Donald Trump, the  candidate of the Republican Party,  has escaped two assassination attempts on the hustings. The candidate himself has threatened bloodshed  in the event that  he loses the election. On one occasion he said this would be the “last election” should he not be declared as the winner. Even before the first ballot was cast, Trump and his supporters had begun to question the integrity of the election. Ballots of the early voting have been reportedly burnt.  Only a few days ago, Trump said at a rally that he wouldn’t mind if journalists covering his campaigns were shot because they “are fake news” purveyors. On another occasion he wished nine guns were pointed on the head of Liz Cheney, a former Republican congresswoman, who has endorsed  Vice President Kamala Harris the candidate of the Democratic Party. More ominously, Trump said at the eve of the  election that he regretted leaving the White House after losing the 2020 election.

In the light of the foregoing, it would not be an extravagant claim to propose that Nigeria’s democracy  has indeed  grown enough to be in position to critically observe what is going on in America.

This was the point eloquently  made yesterday  by  the director-general of the Nigerian Institute of International Affairs (NIIA) and an eminent scholar, Professor Eghosa Osagie, in his introductory remarks at a roundtable hosted by the  foreign policy  think-tank. As Osagie rightly put it, Nigeria should keenly observe the American election from the viewpoint of democratic development.  Later, Osagie, a political scientist, summed up the points  by saying that whatever the outcome of the election,  while America might not change it would be  the responsibility of Nigeria to devise its policies in relating to America.

The vigorous discussions at the roundtable  was brilliantly  moderated with a lot of insights  by Amarachi Ubani of CHANNELS Television. Interestingly, as Amarachi, a member of the Institute,  expertly teased out perspectives of speakers, it became clear that there were pro-Harris, pro-Trump and the neutrals on the forum.

In some respects, the  roundtable was akin to a team of observers monitoring  the American election, albeit from a distance of  8, 719 kilometres away.

For instance, a public policy analyst and development strategist, Mr. Magnus Onyibe, who has met Trump, excitingly  articulated the case for the  Republican presidential candidate. Onyibe presented Trump at the august forum as the “change” America needs and a “non-traditional politician” who would  “ drain Washington.” Onyibe, an author,  said “Trump is not anti-immigration; but he is anti-illegal immigration.” He recalled that Nigeria once expelled “illegal Ghanaian  immigrants.” while South Africans are also hostile to “illegal Nigerian immigrants.”  For Onyibe,  Trump remains essentially a businessman in his approach to politics. Onyibe said “Trump knows Nigeria,”   recalling that the former American president talked about the Nigerian oil reserves when they met in the U.S. And, of course, Onyibe reminded his audience that “Trump’s daughter is married to a naturalised Nigerian.” So Trump  is, after all, an  in-law, as it would be put in the Nigerian parlance !

In a way, Onyibe, was responding to other distinguished speakers, who had earlier made weighty submissions.

While acknowledging the importance of the American election for reflection in Nigeria,  veteran political scientist, Professor Adele Jinadu, situated the emergence of Trumpism in American politics within the context of the “perpetual crisis of democracy” and the “upsurge of populism’ in some liberal democracies. He warned against personalising  the trends in the politics of the most powerful country as “contending social forces” are actually  at play. Jinadu also underlined the institutional resilience which has ensured a “pushback” to some of the absurdities of Trump and Trumpists. Jinadu pointed to  the institutions sustaining the American institutions despite the Trumpist assaults. He described these institutions as “guardrails” that would prevent the system from collapsing. The social scientist, who has remarkably intellectualised the process of election monitoring in Nigeria, also emphasised the importance of “character in politics” and the need “to look beyond elections and hold elected leaders accountable” at the end.  He also demystified  election polls, insisting that they could sometimes go  wrong. According to Jinadu, the respondent only tells the pollster what he would do on election day. This might eventually not be the case.

For another notable political scientist, Professor Femi Otubanjo, “Trump will not be good for Nigeria;  but it is not  sure if Harris will be great for Nigeria either.” He rated the American election managers  highly; but he said that “ the problem will be the electoral college.”  While Otubanjo  decried the “isolationism” of Trump, he conceded that Harris could be “more institutionally minded.”   Otubanjo made it clear: “Trump will be dangerous to the world.” The scholar  is not, however, excited about a democrat being in the White House. He recalled  that while former President Barack Obama, a democrat,  did not permit the sale of Tucano aircraft to the government of President Goodluck Jonathan to fight terrorism, it was Trump that later made the sale of arms to Nigeria possible. Remarkably, when discussions drifted to the perennial question of Nigeria’s bid for a permanent on the Security Council of the United Nations, Otubanjo dismissed such efforts as “fighting for nonsense.”  Instead, he advocated the scrapping of the Security Council itself to enable the genuine democratisation of the United Nations. This, he said, would upend  the present anti-democratic oddity in which one nation can veto the decision of all the other members of the world body.  

The focus should be on “domestic policies,”  according to Dr. Reuben Abati, the celebrated anchor of ARISE NEWS Television. Abati  says Nigeria would have to do its work in order to “hold its head within the international space.” He asked : “Do Nigerian Trump supporters truly know Trump”? He, of course, acknowledged that a second term for Trump in the White House would have consequences for immigration, energy sector, the value of the Dollar and, of course, geo-political stability.

A lawyer and author, Mr. Femi Ojomu, said with the American election, “the world faces a crossroads.” He reminded the forum that “Nigeria is a non-aligned nation.”  For him, the challenge “is taking advantage of  the opportunities” available  in the Nigeria-American relations regardless of “who emerges  as American president.”  He pointed to areas of security, African Growth and Opportunity Act (AGOA), immigration, social rights  etc.  Ojomu made a clear distinction between the agendas of Harris and Trump.

For this reporter, the expectations from the outcome of an American presidential election should be tempered by a historical reality. Harris and Trump represent the two sides of the same face of American imperialism to the world. If you doubt it,  ask the helpless victims of the ongoing  crimes against humanity in Gaza in which America is openly complicit. The difference is that Harris could  be a pretentious imperialist while Trump would be barefaced dismantling the post – second world war order, which America led other imperial  powers to build.  .

Unlike the pretentious Democrats, Trump wants  ethnic cleansing of Gaza so that it would become a “beautiful beach front.”

The government, in which Harris is the Vice President,  has been spending billions of dollars to arm Netanyahu to kill children, women, UN workers, journalists and health workers for over a year. The position of Harris during the campaigns has been kaleidoscopic  depending on the audience. Harris said she would stand by Israel to exercise its right of self-defence (a refrain of successive American administration for decades) in Pennsylvania with a significant Jewish population. She only spoke of a ceasefire and  relief for Palestinians  in Michigan while facing a huge population of   Arab voters.

As experts ponder the implications of the seeming  degeneration of the America’s  political system, it is noteworthy that one of America’s best thinkers on liberal democracy, Francis Fukuyama, seemed to have foreseen Trumpism and other American tragedies.  In 2014, one of Fukuyama’s books, “Political Order and Political Decay” was published.  That was two years  before the election  of Trump in 2016.

In the book Fukuyama wrote inter alia: “No one living in an established liberal democracy should therefore be complacent about the inevitability of its survival. There is no automatic historical mechanism that makes progress inevitable, or that prevents decay or backsliding. Democracies exist and  survive only because people want and are willing to fight for them; leadership, organisational ability, and oftentimes, sheer good luck are needed for them to prevail…”  

Despite the  ugly face  of American politics on display during the campaigns, some Nigerian public intellectuals are wont to fall back to the  default position in  analysing the elections in America. As Dr. Abati puts it, the next few days the media space would be replete with essays on the “lessons to learn from the American elections.”

It might  be unthinkable in not a few quarters that America could  indeed have lessons to learn from Nigeria’s democratic development.

Two contrasting events  in the political histories of  United States and Nigeria could be recalled to make this point. In the cool evening of  March 31, 2015, incumbent President Goodluck Jonathan of the Peoples Democratic Party (PDP)  called to congratulate  General Muhammadu Buhari of the All Progressives Congress (APC) while collation of the results was still in progress. Before Jonathan’s historic call, the nation was on a  knife edge as it awaited  the conclusion of the presidential election that year.

Contrast the Nigerian positive story  with the American tragedy  of  January 6, 2020. President Donald Trump inspired a mob to stymie the conclusion of the presidential election which he clearly lost as an  incumbent. The Trumpist thugs invaded the Capitol, America’s citadel of liberal democracy, in an abortive attempt to prevent the certification of the election of Joe Biden as president of the United States. In the process six persons died and at least 170 police officers were injured. No, it is not every time Nigeria has lessons to learn from America in democratic development. At least on this occasion, it is important to transcend the national pastime of  self-flagellation in order to see that America has huge lessons to learn from Nigeria.

In fact, in the next few hours both Harris and Trump have some lessons to learn from Jonathan of Nigeria, an under-celebrated hero of  liberal democracy. 

You never know, the  crucial lessons could help in saving America from itself as chaos is widely  predicted for the superpower.  

QUOTE

“In fact, in the next few hours both Harris and Trump have some lessons to learn from Jonathan of Nigeria. You never know, the crucial lessons could help in saving America from itself as chaos is widely  predicted for the superpower”

LaLiga have requested Valencia and Levante’s matches this weekend be postponed as recovery efforts continue in the region following deadly flooding which has left at least 218 people dead.

Valencia are due to travel to Espanyol on Saturday in LaLiga, while Levante, who are also based in Valencia, are scheduled to play away against Tenerife in the second division on Sunday.

On Tuesday, both clubs requested the matches be rearranged for a later date, with LaLiga forwarding the request on to the Royal Spanish Football Federation [RFEF], who will have the final say.

“Just one week has passed since the catastrophe occurred and the situation remains very serious,” Valencia and Levante said in a joint statement.

“Both clubs are grateful for the understanding and empathy shown by LaLiga, the RFEF and our opponents.

“We remain firmly committed to continue helping all the affected areas in the province of Valencia.”

Flood waters swept through the Valencia region after heavy rainfall on Oct. 29, with the full scale of the loss of life and damage to homes, businesses and transport links becoming apparent in the following days.

As a result, five Copa del Rey games were immediately postponed last week and rescheduled for later in November.

Five games were also called off across the top two tiers of Spanish football over the weekend, including Real Madrid’s trip to Valencia, Villarreal’s match with Rayo Vallecano and Levante’s fixture against Malaga.

In Liga F, Valencia and Levante’s games were both off at the weekend and the RFEF announced earlier on Tuesday that Sunday’s derby between the two sides has also been postponed.

[Leadership]