Archive for nigeriang

Ugandan police fire tear gas at food protesters

Ugandan police fire tear gas at food protesters

Military police
fired tear gas on Thursday to disperse a crowd of more than 1,000
marching to the centre of the Ugandan capital, Kampala, in protest
against steep rises in food and fuel prices, Reuters witnesses said.

Opposition leader,
Kizza Besigye, President Yoweri Museveni’s closest rival in February
elections, marched with the demonstrators, who had gathered in a
Kampala suburb and defied police attempts to scatter them before they
reached the city centre.

Opposition and
civil society groups launched their first “walk to work” protest
against steep rises in the cost of living on Monday, but it was swiftly
stifled by police, and opposition leaders were detained.

The groups had vowed to continue protesting every few days and the march on Thursday was their second demonstration.

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Senate panel slams Goldman over crisis report

Senate panel slams Goldman over crisis report

In the most damning
official U.S. report yet produced on Wall Street’s role in the
financial crisis, a Senate panel accused powerhouse, Goldman Sachs, of
misleading clients and manipulating markets, while also condemning
greed, weak regulation, and conflicts of interest throughout the
financial system.

Carl Levin,
chairman of the Senate permanent subcommittee on investigations, one of
Capitol Hill’s most feared panels, has a history with Goldman Sachs.

He clashed publicly with its Chief Executive, Lloyd Blankfein, a year ago at a hearing on the crisis.

The Democratic
lawmaker again tore into Goldman at a press briefing on his panel’s
639-page report, which is based on a review of tens of millions of
documents over two years.

Mr. Levin accused Goldman of profiting at clients’ expense as the mortgage market crashed in 2007.

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BRAND MATTERS: Brands and the youth market

BRAND MATTERS: Brands and the youth market

The youth segment
is now a major target of brands. Youth have become powerful due to
their adventurous and trend-setting lifestyle. Companies create
strategies aimed at connecting directly with the youth.

The telecom
companies have adopted the music platform as a verifiable channel to
tap enormously into the youth market. Banks have also developed
youth-centric products which are aimed at stimulating and sustaining
the interest of these energetic lot. Some of these products speak the
language and exemplify the dynamic, vibrant, and adventurous lifestyle
of the youth.

The rise of social
media has also redefined the importance of the youth market. The youth
market grows in leaps and bounds and they tend to experiment with
brands that align with their status. I just stumbled on information
that young people in South Africa have a mobile penetration of about 86
per cent. I know the figure can be higher in Nigeria.

With this scenario,
companies need to create strategic youth marketing plans that enable
the brand gain relevance, which translates to building brand equity.
There should be a core brand strategy that focuses on youth.

It is obvious that
any brand that ignores the youth market does so at its own peril. Brand
messages should be tailored to align with the lifestyle, culture, and
aspirations of youth. The social media has become a key tool in
aligning with the culture of youth and brands need to recognise the
impact of social media revolution on the youth.

For any brand to
effectively connect with the youth, it should understand what resonates
with them and what is popular amongst their peers. The concept of wants
and needs cannot be divorced from youth too, as priority should be
given to their needs in order to empower them. They also want brands
that are desirable and trustworthy. The Sprite Triple Slam is hinged on
drama, sports, and music platforms. It showcases the talents and skills
of youth in these areas. Through these platforms, the brand has been
able to connect and bond with youth more.

The truth is that
youth always experiment with different brands, as they are
trendsetters. Any brand that aligns with their culture automatically
wins them over. Messages should be direct and concise, as youth have
short attention span due to the immediacy of the digital world. They
want brands to provide them with up to date, improved services on a
regular basis. When a brand refuses to meet up with their expectations,
they move on to any other brand that satisfies their yearnings.

The role of word of
mouth cannot be underestimated among youth. When a brand satisfies
their yearnings, they ‘mouth’ it to others and it generates influence
and advocacy for the brand. This also underscores the edge of social
media networking amongst youth, as a community is built around this. It
explains why the youth market is seriously pursued by marketers. A
brand is not connecting with today’s youth if it is not social
networking.

Youth are shifting
to social media to connect, network, and influence one another as they
pay attention to online brand messages which appeal more to them.

There should be a
positive connection between brands and youth. There are key messages
that resonate with young people and brands should leverage on such.
When brands connect with youth, they develop long and memorable
relationships.

The world has
indeed become a digital village and the youth have embraced technology
to broadcast their opinion on a global platform. They want their voices
to be heard and they want brands to empower them to do this.

With the marketing
space being crowded, brands that deploy appropriate strategy definitely
engage and retain young consumers. Youth engagement tools should be
adopted to influence youth and their community.

It is also
important that consumer demographics is focused on from concept to
execution stage in the brand communication campaign. This ensures that
the communication approach is relevant with youth lifestyle.

The youth market
has, to a large extent, helped brands to rethink, re-work, and reinvent
their communication strategies to align with the real needs of youth.

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Stockbrokers reject commission’s appointment of council members

Stockbrokers reject commission’s appointment of council members

Just
as calm seems to be returning to the capital market, a quiet war is
brewing as stockbrokers have kicked against the decision of the
Securities and Exchange Commission (SEC) to appoint members into the
council of the Nigerian Stock Exchange (NSE).

Already,
the NSE council has written to SEC expressing its rejection of the
appointment. A source who was privy to the council meeting on Tuesday
when the appointment was rejected, said members were undivided in their
position.

“It
was an unanimous decision and the council has already written to the
Commission on its position. We are trying to make the Commission see
reasons,” the source said.

SEC
last week muted the idea of allowing the interim administrator and
interim president of the council, Emmanuel Ikhazobor and Balama Manu,
to remain as council members at the expiration of their tenure.

The
duo was appointed by SEC in the wake of the sacking in August of the
former director general of the NSE, Ndi Okereke-Onyiuke. Their tenure
was supposed to end with the assumption of office last week of the new
NSE chief executive officer, Oscar Onyema.

Guiding the new CEO

However,
SEC said its decision to allow its appointees remain on the council was
for them to guide the new CEO until he fully takes charge.

A
statement by SEC’s spokesperson, Lanre Oloyi, stated that the
appointment was to speed up the ongoing restructuring process and
prepare the Exchange for eventual demutualisation, which would allow
its shares to be listed and traded.

According to SEC, all its nominated members shall be on the Council pending the election of a new council.

“We
expect the restructuring exercise to be quickly concluded so that
elections can be conducted to establish a new council. We are hopeful
that by that time all the cases in court would have been disposed of,
so as to allow the interim president to conduct elections without any
legal impediment,” the commission said.

SEC
said it derived its powers from Section 35 (1) of the Investment and
Securities Act 2007 which states, “The Commission may, where it deems
appropriate, issue directives to a securities exchange, capital trade
point, or any other self regulatory organisation.”

No interference

The
source, however, said the section does not clearly state that the
Commission can make such appointments and thus interfere in the running
of the Stock Exchange.

“That
section only deals with market operations and not governance issues.
What the stockbrokers are saying is that the memorandum and article of
association (MEMART) establishing the Stock Exchange does not provide
for SEC to appoint members to council.”

On
the position of the Commission now that stockbrokers are challenging
its position, Mr. Oloyi said this was a temporary arrangement.

“This
is just an interim arrangement. We have only asked that the Exchange
should consider public interest in constituting membership of the
council.”

He
said the outgoing interim administrator has one month to fully handover
to the new CEO, after which he will serve as deputy to the interim
president.

“This
transitional arrangement is until a new council is properly constituted
by the Stock Exchange. I cannot tell you how long this will take. You
know there are a lot of cases in court,” Mr. Oloyi added.

He said SEC was committed to building a vibrant capital market that would be of benefit to the entire economy.

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National identity registration to begin after polls

National identity registration to begin after polls

A new national
identity registration would begin after the elections, the National
Identity Management Commission, said on Wednesday, after the initial
efforts by the federal government years ago could not yield the desired
results.

Chris Onyemenam,
the Director General, National Identity Management Commission, the
guest speaker at the April edition of Information Value Chain Breakfast
Forum, stated this at a monthly breakfast forum organised by Digital
Jewels Limited. He said registration had already begun in Lagos and
Abuja.

In his
presentation, titled ‘The National Identity Management Scheme:
e-Commerce catalyst or encumbrance’, Mr Onyemenam spoke on the gravity
of challenges in identity management in Nigeria, and how the commission
plans to tackle the encumbrances and restore sanity in the nation’s
identity sector.

The botched project

Over eight years
ago, the contract for the implementation of the national identity card
scheme was awarded to SAGEM of France. However, the contract, which was
laden with alleged bribery scandals, did not yield the results
Nigerians expected because years after the registration, majority of
Nigerians neither had a national card nor numbers with which to be
identified.

In May 2007, the
NIMC Act established the commission and provided the legal framework
for the reforms in the sector. The reform mandate includes collecting
basic demographic and biometric data, creating, operating and managing
a National Identity Database, providing an on-line/off line cost
effective verification and authentication infrastructure in Nigeria,
integrating with ID schemes, providing standardized identity attributes
and fostering the orderly development of an identity sector in Nigeria.

“As e-commerce
catalyst, identity management has several benefits to the economy,”
said Mr Onyemenam. “These include streamlining biometric-linked
projects in the public and privates sector, eliminating multiple and
ghost identities, reducing identity theft and related fraud (advance
fee fraud), enhancing the work of law enforcement agencies, financial
inclusion and development of financial services sector, creating new
economic and employment opportunities, among others.”

The challenges

The challenges
facing the scheme include multiple identification initiatives by
institutions such as the Pension Commission, land registers, Federal
Inland Revenue service, SIM registrars, Law enforcement Agencies,
Financial Institutions, the Independent National Electoral Commission,
Immigrations, Federal Road Safety Corps and several others who have to
embark on their own personal registration and the absence of ‘core’
identity sector infrastructure.

Mr Onyemenam said that identity management is party of the federal
government desire to develop and deepen the consumer credit sector,
facilitate the enforcement of existing/extant laws and meet global
practices, facilitate financial inclusion and development of commerce
generally, harmonization of identification schemes committee in 2005.
“It would help in the enhancement of the consumer credit sector,
governance through e-governance, revenue processes, administration of
social welfare programmes and subsidies, national payment system and
improve standard of life as it would enhance national security among
others,” he said.

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Our doors are not locked, says Intercontinental Bank

Our doors are not locked, says Intercontinental Bank

The management of
Intercontinental Bank yesterday denied that there was a court order to
seal up its headquarters on Danmole Street, Victoria Island, Lagos.

Sources however
confirmed that a former employee of the bank secured the order to seal
up the place. Two employees of the bank who work at the headquarters
corroborated that policemen came to the premises to effect the order
but they did not carry out the order after a meeting with the bank’s
management.

At about 4:30pm
yesterday there was a heavy presence of policemen at the bank’s
reception, an indication that something was amiss.

An angry man,
dressed in native attire, was also seen at reception giving orders to
the security officers to close the bank’s entrance door. When
approached and asked why he gave the order, he refused to speak on the
matter. However, it appeared his words had no effect as the officers
left the door open to visitors while staff carried on with their duties.

Eddy Ademosu, the
bank’s spokesperson, claimed that the bank was not aware of any court
order restraining it from carrying out its operation. “Our door is not
locked as you can see,” Mr. Ademosu said, adding, “It is not as if
there are no issues in court relating to shareholders, the bank itself,
or customers’ perceptive, but even issues in court are being resolved
as a responsible organisation.”

According to him,
“If there are issues, it would have been brought to our attention.
Maybe somebody will come tomorrow with a court order — I cannot say,
but as I speak we are not aware of any court injunction.”

He said the heavy presence of security personnel is not new because
“security has always been part of the bank” since the Central Bank
intervention, while he also said the persons giving orders might be
telling the officers to lock the door since it was closing time.

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HASHTAG: For whom shall I vote?

HASHTAG: For whom shall I vote?

It is not a
peculiar conundrum – many of my friends and associates are, like me,
yet undecided. To be sure, this pondering is the exclusive preserve of
a band of us who take ourselves way too seriously. Most of the voting
population has made up its mind. Still, my one vote, that one decision,
I insist on prizing highly.

We have a decidedly
uninspired (not necessary uninspiring) field of candidates. Yes, people
are passionate about many of them – but ask for the specifics and you
are likely, like I have found, to draw a blank.

Let’s take the
putative social media favourite – Buhari-Bakare – for instance. Sadly,
I find their campaign standoffish and self-involved. I find that the
two flagbearers make statements that don’t quite pan out with their
reality. I also find it difficult to live with their inability – or
unwillingness – to engage a wider field of interest groups and to
engage the media on anything but their terms. However, a mentor
recently made an eminently fine case for that ticket – it is the one
ticket not beholden to any narrow or special interest. It is the one
most uncomfortable with establishment, does not benefit from it, and is
angry enough to actually restructure our politics so that it begins to
benefit the people. Thus, tomorrow, I might hold my nose and jump on
that radical train.

Then there is the
president, Goodluck Jonathan – whom I had seriously considered voting
for as early as October last year. He has opened up several democratic
spaces in a way that has never been done before – opening up lines to
civil society, youth, entertainment and the arts in a way that no other
government has found important. He has actually brought government
closer to the people without a fear of demystification. I find that
thoroughly exciting. I am also privileged to have interviewed him
recently, and I came off thoroughly impressed with him as a person: he
revealed, in our off-record conversation, a man I would be comfortable
with as a leader. Unfortunately, too many of his actions, from his
refusal to attend the debates to the failure of any considerable power
reform, have created too many doubts in my mind.

In addition, there
is the matter of the PDP. Like I asked him, it does appear that his
party is wired against change. I am as interested in who will be
president as I am in the people around him. And I haven’t seen any
willingness yet to rein those elements in. It worries me, and I will
sleep tonight with that worry.

Three weeks ago,
after his performance at the debates, Ibrahim Shekarau became my
option, in principle. All I had left to convince me was to ask my
friends who know Kano, the state he currently governs. The verdict is
not good at all. The words don’t match the actions. Very sad. Very,
very sad.

On Nuhu Ribadu, one
line will suffice. I have listened to his interviews, his debates, and
his other public statements – and I look forward to seeing Fola Adeola
at the top of the ticket come 2015.

No candidate, of
course, can be perfect. I know that, trust me. But of the four major
candidates (going by polls and news commentary) the imperfections
threaten to swallow their essence.

What is a young man to do come Saturday? I just might vote for Pat
Utomi. He might have willingly taken himself out of the running, but
perhaps I want to be able to sleep with the satisfaction of knowing
that, strong candidate or not, I made the vote for the hand that I
truly, honestly believe is the most capable of understanding the
challenges of our complex nation, and following through with
prescriptions that will set it aright. I still have 24 hours to decide.
So, I suspect, do you.

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The men who would be president

The men who would be president

Tomorrow, Nigeria
will find out whether the incumbent president, Goodluck Jonathan, will
be a given another chance to prove his mettle as the nation’s leader,
or whether that huge responsibility will be handed over to former
military ruler, Muhammadu Buhari; former anti-corruption czar, Nuhu
Ribadu; or sitting Kano State governor, Ibrahim Shekararu. The four
leading candidates couldn’t be more strikingly different. The duo of
Jonathan and Sambo seem to represent the status quo; an unhurried
establishment candidacy that emphasizes the strength of its network,
its brand of unity, a string of self-professed achievement in less than
a year of government, and a calm strategic approach both to governance
and campaign strategy.

Mr Buhari and his
vice, Tunde Bakare, strike the very opposite pose. Seeking to position
themselves as insurgent change makers, the duo have emphasized their
independence from the establishment, a visceral anger about the state
of the nation, a pungent distaste for the ruling party and all it
represents, and a refusal to continue business as usual.

Mr Ribadu and his
deputy Fola Adeola have sought to appeal to the new generation of
voters, branding themselves as the youthful, engaged and connected
ticket that’s in line with a changing global economy. Touting their
achievements as builders of institutions – be it the Economic and
Financial Crimes Commission or Guaranty Trust Bank – they emphasise
that they can be trusted to ‘sweep’ away the old and usher in the new.

Finally, Mr
Shekarau, and with him the mostly silent John Oyegun, have sought to
parley the success of their respective national debates into a case for
competent, knowledge-based leadership.

Of course, there
are other candidates on the field – variously described as fringe – but
if the several polls by media and civil society are to be believed (and
there is no reason why they should not be) the battle is between the
four candidates profiled above.

It was just about
to get more interesting. However, Nigerians, excited by the possibility
of an epic battle following rumours of a coalition between the
candidates of the Congress for Progressive Change and the Action
Congress of Nigeria were disappointed when, with remarkably virulent
counter-accusations between the two camps, it appeared that, not only
had discussions broken down irretrievably, but none of the parties left
the discussions with respect for the other side.

There are those
who immediately point to the personal and political weaknesses of the
candidates involved and conclude that this gives an advantage to the
incumbent president – who has maintained a calm and presidential mien
throughout the campaign season.

However, while
this paper shares in the disappointment that comes from the inability
of the so-called presidential candidates to firm up strategies that can
give Nigerians even stronger choices, it would be unwise to immediately
make any conclusions from this series of perhaps unfortunate events.

As Nigerians
showed last weekend, there is a new sense of empowerment and
realisation that the people actually own the process and are able to
influence its outcome. There is no doubt that tomorrow will see even
greater numbers coming out to exercise their civic responsibility, and
reclaim their country – and they will do this with zero patience for
any manipulation of the process. The truth is – at least, based on the
sheer volume of political advertising by the prohibitive frontrunner –
no one, politician or public, is taking this election for granted.

This is just as it should be. The Nigerian voter is now the
beautiful bride, which is its proper place. If there are free and fair
elections tomorrow, in spite of whoever emerges victor, that singular
fact will immediately tilt the balance of power from president to the
people. And the next few years will truly then present a government for
and by the people. That, beyond the shenanigans of individual
candidates or their campaigns, is the real bottom line for tomorrow’s
duel.

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EXCUSE ME SIR: Election eve visitor

EXCUSE ME SIR: Election eve visitor

Excuse the dirt on
the floor, it’s hard to get brooms to buy in Lagos these days. No, you
don’t have to thank me for meeting with you. It was long overdue,
anyway. You are busy and I am busy, but this meeting was necessary so
we both understand one another some more. I also want you to know where
I stand because when you are peeling roasted yam for a blind man, you
have to whistle so he knows you are not eating his yam. We have
misunderstood each other so much lately, but you know how this game is
– very slippery. What can I offer you, sir? Ah no, you have to take
something. Don’t be in a big hurry. I have tuwo and fresh fish pepper
soup. I know you don’t drink, sir, but just in case, I have ogogoro and
burukutu – great stuff. I call it Merger Brew. Be careful, too much of
the drink can be a bit disruptive.

Yes, the matter at
hand. Are you in a rush? That is what I thought – it is raining
outside, so no hurry because I don’t have any umbrella in the house. I
should, right? Anyway, that is not important now; let’s get to business.

You are sweating
badly, sir; sorry, my generator cannot carry the air-conditioner. I
understand, but you need to relax. You have put up a good fight. But
wait, let me be sure my door is properly secured before we start; this
side of town is a bit seedy. You are right, there are serious security
issues in the country and people are edgy these days. So what did you
say your plans were on that? I read your manifesto quite alright, but
it was not so clear to me. What we need are not promises; we need
assurances. Okay, that is good if that is one of the reasons we are
meeting tonight. But we have many expectations and by “we”, I mean a
collective of Nigerians that have decided to take a chance on you. Save
the appreciations; we just want to make sure you do your job when you
win or else there will be consequences. You can’t even begin to imagine
what it takes us to stick out our necks for you.

Here is our list of
expectations from you. Please, we want you to give us your word that
every single one of them will be actualized. No excuses. Say that
again, sir – what do you mean you don’t understand the sentences and
the grammar of the list? Well, what you have in your hands was written
by one of the young graduates from our university. Sorry, I can’t
explain that to you – it should remind you of the dire need to
resurrect our comatose educational system as soon as you settled down.
There is nothing as volatile as a half-baked graduate.

What? You can
barely hear me? Oh, you mean the noise? Sorry, sir, it is a combination
of the multiple generators from my neighbours’ compound. No, we have
not had electricity in days. Sometimes, we go for weeks without a
flash. We generate our own light and water. You know that, right? I am
sure that is no news to you. Yeah, a state of emergency on power will
be more like it. Thank you for the promise of more megawatts but do you
know what the blind wife of a hunter said? Not until I taste my
husband’s elephant meat, I refuse to believe the villagers’ hype. Hold
on, let me put some petrol in the generator. I won’t be long. Take it
easy on my Merger Brew, sir.

Sorry about that. I
am sure you did not find the darkness funny. That is what we have to
deal with almost every night, so we are really depending on you to
change things quick. If we vote for you and we are still left in the
dark – let’s just say it won’t be business as usual because thunder can
break. So let your guys know, sir. No, I am not threatening you, sir.
We are having a civil conversation under one umbrella to figure out how
we can sweep away corruption in the power sector, right?

I am not angry. I
already told you we have decided to vote for you because we have
weighed our options and we would like to give you a shot. And if you
don’t deliver within a short period of time, we will be having this
conversation again the way my mother used to discuss with me when I did
something wrong. And I still have memories of fiery, whistling leather
belts, sir.

We are done, sir. I wish you the very best. Do you have any message
for Nigerians heading to the polls tomorrow? Say that again. You make
me laugh, sir. Some people might misinterpret that o. Okay, if those
are the only words you have for them, I have no choice, sir. I will
tell them you wish every single one of them “Good luck!”

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Saving our troubled education sector

Saving our troubled education sector

Along with the
power and the rail systems, there is little disagreement among
Nigerians that the education sector is in the doldrums and needs an
urgent and sustained heavy government rescue intervention. Most
employers or office managers are daily confronted with this reality in
their dealings with barely literate subordinates. For those who don’t,
the yearly ritual of wailing whenever any of the nation’s three post
secondary examination bodies release the results of their exams should
be no less educating.

Government
officials have also always made the right noises. In early 1998, during
the 45th meeting of the National Education Council (NEC) held in
Kastina, the minister of education at the time exhorted participants to
find a solution to the parlous state of the sector.

Talking about the
extent of the rot in the sector, he listed some of the symptoms to
include, among others, decline in standards, deterioration of
facilities, examination malpractices, mass promotion syndrome and the
poor results churned out year in, year out.

The figures are
sobering. In 2010, for instance, the West African Examination Council
(WAEC) results showed that only 24.9 percent of the candidates that sat
for the exam obtained five credits, including Mathematics and English
Language. In 2009, the figure was 25.99 percent. The results had
fluctuated from 23 percent pass in 2008; 21 percent in 2009 and 20
percent in 2010.

Many factors have
been posited as responsible. Examination malpractices, along with poor
preparation of students for an examination, is seen by experts as both
an outcome and a cause of the problems in the nation’s education
sector. This is cumulative in effect and often, it takes years for the
malaise to become obvious.

Aside from these
factors, the problem posed by the poor management of educational
institutions in the country, both public and private, is also
disturbing. A close assessment of activities in schools has revealed
that students are made to suffer undue amounts of exploitation by
school heads in the name of enrolment fees and assurance of success in
their examinations. This is in spite of the fact that most of the
schools lack basic learning facilities and a complete set of teachers.
In some cases, a school with the services of an English Language
teacher will lack that of a Mathematics teacher. In the end, the school
engages in mass promotion of students as a way out. The effect of all
this on students is staggering.

These various
challenges confronting the nation’s education sector lead to the poor
results and consequently a low skilled workforce in every sphere of
national life. Much needs to be done in the sector, but most
initiatives are hardly carried out. The incumbent federal
administration has also launched its own. The minister of education,
Ruqayyatu Ahmed Rufa’I, is currently working on a policy of
inclusiveness – a variant of the “No child left behind” policy of the
American government.

It is early days
yet. But the disposition of the president, Goodluck Jonathan to this
issue gives some glimmer of hope that things might be different this
time – especially if the president gets the affirmation of Nigerians to
continue in office.

Mr Jonathan
admitted recently that many of the challenges confronting this nation
were because there is a lack of will on the part of those in power to
do the right thing. One of the three Es which he said his
administration would focus on is education. The other two are
electricity and electoral reforms. Education, he says, should be
promoted “as a potent instrument for the transformation of our country”.

At this point in
our nation, it is obvious that there is nowhere else a transformation
needs to take place more than in the education sector. Our political
leaders, as they win our votes to either hold on to the posts they are
occupying or assume new ones, must realise that nothing can change this
country better than the proper education of its citizens. Mr Jonathan
asked Nigerians to insist “that the right thing should be done”.
Nigerians should push for this political statement to be applied to the
nation’s education.

Joe Ikhazaboh writes from Port Harcourt

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