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Can Nigeria Afford A Bicameral Legislature?, By Eric Teniola This is not about discussing the demerits of democracy, which is a form of governance that has come to stay. What we are considering is the need to reduce the cost of governance. The presidential system of government that we are running is too expensive, and it will lead us to nowhere. COVID-19 is ravaging our land and destroying the economy, which has been highly underperforming. The country has continued to slip backwards. There is a shortfall in our oil revenue. Nigeria’s foreign capital inflow has sunk to $9.68 billion, the lo...

COVID-19 is ravaging our land and destroying the economy. In the meantime the economy is under-performing. The country has gradually...

Vanguard News Translate Sad return to broken chains (3) On By Eric Teniola The second part of this piece published last week highlighted the nation-wide celebration that followed the granting of $20 billion debt relief to Nigeria in 2005. THE four states are among the richest states in the country. I grew up in an age that insists that he who goes a-borrowing, goes a-sorrowing. It was an idiom used by the American Nationalist, Benjamin Franklin (January 17, 1706-April 17, 1790). Borrowing makes our lives unfortunate, but we are the ones who borrow, so we face problems s...

Vanguard News Translate Sad return to broken chains (2) On By Eric Teniola HE moved to the Federal Public Service as Administrative Officer. Class III, in 1958 and was promoted Permanent Secretary in 1960, and headed in turn the ministries of Defence, Communications, Industries and Finance. He occupied the vital post of the Permanent Secretary, Finance, from 1966 through the years of civil war with all its effects on the country’s finances. In December 1970 he was appointed Administrative Officer (Principal Grade), and became Secretary to the Federal Military Government...

Share In June 2005 we were so ecstatic in celebrating the debt relief offered us, a relief of over $20billion dollars, which was beyond the total revenue of Nigeria for one year. So happy were we that President Olusegun Obasanjo, GCFR, had to make a broadcast to the nation on June 30, 2005. He followed the broadcast by appearing before the joint sitting of the National Assembly on July 26, 2005 to speak on the issue. In the broadcast, he declared, “How did we work to get out of this debt quagmire? We did it by resolving and working hard to break with the past; by identifying new voices and ...