CHANNELSTV — broadcast 20261011 010000 UTC 515 transcript segments Google Speech-to-Text API Automatic Transcription (Chirp) Data courtesy of The GDELT Project (https://www.gdeltproject.org/), from the Internet Archive TV News Archive. Machine transcription. Treat it as a searchable index of what was broadcast, not a verbatim quotation record. [00:00:00] to do lot of campaign about patriotism in [00:00:03] of Nigeria [00:00:04] of so that people do not abuse uh the policy that [00:00:08] government intends uh [00:00:11] of to have positive impact on the people so people don't just get [00:00:15] discounted price and then begin to sell higher rather [00:00:19] than [00:00:20] of transport people around the third thing is that the [00:00:22] subnationals [00:00:24] me have responsibility the state government the [00:00:27] local government I have not [00:00:30] seen [00:00:32] uh a state like Legos, Legos is trying, so you [00:00:36] have the blue rail, you know, [00:00:39] of why can't we connect the three senatorial district [00:00:42] in all the respective state with [00:00:45] train, is doable, and it's not rocket [00:00:48] science, um, during my my my PhD [00:00:52] of of research, I went to Forstrail in Scotland, and we [00:00:56] found out that these things are not rocket science, and we [00:01:00] cannot shift all the blame to the federal government, state government, what are [00:01:04] they doing, where are the buses they are using to [00:01:07] of move student to school during the rush hour to move [00:01:11] civil servant to work, so they don't have to [00:01:15] drive their [00:01:16] of cars, so these are issues, what are we [00:01:19] of doing about having uh primary health care [00:01:24] in center that is being controlled by state government effective in all [00:01:27] the villages, in all the towns, so that you don't need [00:01:31] too much money to get health care. what are we [00:01:35] doing about our [00:01:37] of primary and secondary school, such that there are enough [00:01:41] chairs, good teachers and then sit for [00:01:45] them, and so people will not have to think [00:01:49] of sending the awards to private school where they will be needing [00:01:52] 30000 uh per time or 1 million per [00:01:56] time and then there is pressure every text message you get. [00:02:00] what is government going to do [00:02:01] of about mass housing? heard that the federal government has [00:02:05] intention to build wonderful mass housings [00:02:08] along all [00:02:09] of the major highways that is going on, [00:02:12] of maybe shokoto, badagre road, fantastic initiative, [00:02:16] i pray they do this quickly uh, you know so that [00:02:19] things can reduce, because when you look at house rent, you look [00:02:23] at transport cos, you look at healthcare cost, you look at [00:02:26] education, there is problem, it's not sustainable. [00:02:30] several people cannot do it. i was with a company uh two [00:02:34] days ago and we analyzed a staff that [00:02:38] ends 1 million [00:02:39] of i in that company and myself and [00:02:42] foreigner we concluded that that [00:02:45] individual has two children, he has a car. [00:02:49] the current [00:02:50] of price of 2023 corolla in Nigeria is [00:02:54] about 25 to 26 million. so we look at that guy, he didn't [00:02:58] know we were discussing him. "we said if this guy is able to save [00:03:02] 200,000 a month, in one year he will save [00:03:05] 2.4 million, in 10 years he will save [00:03:09] 24 million, he cannot even buy one corolla, 10 years [00:03:13] to come, prices has gone up and it's [00:03:16] not if those prices went above the roof out [00:03:19] of the country, it's because [00:03:21] of the exchange rate, so we need to do something [00:03:25] you know little by little so that our [00:03:28] naira can gain" more value so that the [00:03:32] items [00:03:33] of that are import dependent, they can begin to crash [00:03:36] little by little, and I know we can achieve it, it's a matter [00:03:40] of sitting, so the number of [00:03:44] policies that have to be together, one cannot work in [00:03:47] isolation, okay, [00:03:51] of exactly [00:03:51] the idea, so many other levels of government to - to come [00:03:54] in, what are your thoughts, what are the [00:03:59] of immediates in in European? union [00:04:01] um steps that need to be taken to ameliorate some [00:04:04] of the pressure uh that this initiative of government [00:04:07] this skyrocketing cost of [00:04:10] living that the government is trying to mitigate what other things need [00:04:14] to be added because [00:04:15] it will seem like [00:04:16] a this one [00:04:16] of initiative is not likely to be [00:04:18] enough [00:04:22] yeah [00:04:24] mean like i said mass transportation schemes will be [00:04:27] needed with and of course we need to double down on the [00:04:31] uh CNG initiative uh we need to [00:04:35] displace lot [00:04:37] of the uh right now the [00:04:40] component of petrol in our transportation is high, it's way too [00:04:44] of high, I think we need to displace that to other fuels, [00:04:48] that's very important, and then we in the [00:04:52] of of government needs to, so when we think about the pump price, there are elements of that pump price [00:04:56] there [00:04:56] of are that are that are payments to governments and [00:05:00] agencies, so maybe they can take [00:05:03] a closer look and see what they can wave in the for a limited [00:05:06] period uh to help [00:05:09] of reduce the pomp price. I think that's that will be a quick win. if you ask [00:05:13] me uh and then of course um again like I keep [00:05:16] saying these interventions need to have easy [00:05:20] tramp, preferably an automatic exit ram so that we don't [00:05:23] end up with something that perpetuates um like we've [00:05:27] seen in the past so whatever intervention we have must have a [00:05:31] time frame within which it has to wind down uh [00:05:35] because these are is distortions ultimately to the [00:05:39] the free market system that we are trying to put in place uh [00:05:43] so that's those are my thoughts on what we can do in the near [00:05:46] term to address the immediate challenges we face while we [00:05:50] do not lose sight the ultimate destination [00:05:54] which is a free competitive market going [00:05:58] forward i think that is very important and addressing the [00:06:01] immediate challenges why not losing sight the [00:06:05] ultimate destination which is a highly competitive market dare [00:06:09] say that if the [00:06:12] consumer is the principal [00:06:16] uh is the primary reason for public policy, if the welfare the [00:06:20] consumer, then a competitive market [00:06:23] is the right answer, and this [00:06:27] you know while we address all these uh immediate [00:06:31] challenges, let's not lose sight of that destination. [00:06:35] okay, dr. let me just take us back to uh part [00:06:39] of what uh engineer [00:06:40] wake said earlier mentioning. um the [00:06:44] manufacturing uh sector, how this [00:06:47] you know foil subsidy issue is affecting manufacturing [00:06:51] in Nigeria, the government came up with the [00:06:54] presidential um intervention fund [00:06:57] program, it's 200 billion naira uh [00:07:01] 75 billion to the large enterprises, [00:07:04] msmes got 75 billion to and nano business is [00:07:08] 50 um, but lot of people have said that is just like [00:07:12] drop in the ocean, what more do you think they can [00:07:16] do in that line to ensure that [00:07:20] businesses, enterprises in Nigeria, they can stay a [00:07:23] float, [00:07:26] well energy is major cost for [00:07:30] everybody, it's a major cost, whether in [00:07:33] hospitality, in manufacturing, uh, you seeher [00:07:37] you have um a generator with diesel or you [00:07:40] rely on the power grid and then you and have a gas uh [00:07:44] generator, so what I think government need to do [00:07:48] is to look at how to address clusters [00:07:51] of manufacturers, take for instance, [00:07:55] there's what we call um the flower gate in og [00:07:59] state from nest to uh down to a place called [00:08:03] kobakwe, so on your right on your [00:08:06] left you have factories and I think I'm proud [00:08:10] that Ugun States has become industrial [00:08:13] capital of Nigeria, now that may [00:08:17] not be good news if we don't address [00:08:21] how power can get to these people, and so state government [00:08:25] need to sit down and say, look, what is the energy requirement [00:08:29] for factories that are here in these clusters, and then we can [00:08:33] have heavy power plant uh power by [00:08:36] gas to reduce their production [00:08:40] cost, and when that happened, "it will have effect [00:08:44] on their prices, because is what [00:08:48] your cost is that you put a markup [00:08:51] on before you determine your price, and you cannot ask [00:08:55] somebody who produce a unit of product that is [00:08:59] coming out at 100 naira and you are asking him to [00:09:02] sell at 80ira, it's not going to happen, it [00:09:06] must also sell to cover the cost, have a [00:09:10] gross profit and then..." cover the overhs, [00:09:14] staff salaries and other expenses, [00:09:17] so the major issue is that [00:09:21] nemo that quadnon are bet, you cannot give [00:09:25] what you don't have, so we need to address [00:09:29] these clusters, manufacturers, apart from [00:09:32] that, we need to also come with intervention [00:09:36] on cost of fund to these entities, for [00:09:39] example, [00:09:40] if we look at everybody that is into production [00:09:44] of food items, we can use the bank of industry [00:09:48] and other commercial bank to channel fund to them at single [00:09:52] digit rate, and we do it, you know, [00:09:56] massively that nobody is left out, not [00:09:59] discriminatory, and we look at the comparative [00:10:03] advantage the six geopolitical zone, southwest, [00:10:06] south south, southeast, north central, northwest, [00:10:10] northeast. people who are producing leather, people [00:10:14] who are having where we can get leathers, people who are in [00:10:18] the southeast that are producing shoes and shirts, all [00:10:22] these areas we will have. intervention [00:10:26] in terms of cost of fund and that's why [00:10:29] China is taking over factories in [00:10:32] Nigeria, it's not because they are too special, companies in [00:10:36] Nigeria are getting uh money a [00:10:40] rate that does not make sense when you compare them with people that [00:10:44] are getting [00:10:45] from China, so you get 1 million from [00:10:47] china, it's clear that we need an all of [00:10:50] society or should I say all of government approach to [00:10:54] uh these issues that you're talking about, so many things [00:10:58] are tied to this, thank you so much for your time this morning, Dr. [00:11:02] Bingard is president economic summit, he is also a [00:11:05] lawyer, chartered accountant as well, we've also had [00:11:09] engineer who is petroleum engineer, thank you so much for [00:11:13] your time, engineer work, we had hoped to have [00:11:16] the president the petroleum products retail outlets [00:11:20] owners association of Nigeria on the program this morning, but for. [00:11:25] raising he was unable to join us, hopefully we'll get him on other programs this [00:11:29] morning. in the meantime, we take a short break now, when [00:11:32] we return, policies always come from leaders, [00:11:36] let's talk a little about that after this [00:11:39] break. [00:12:49] with news gathering and research. we [00:12:51] need to confirm the story. [00:12:55] directors as well as policy makers from the business [00:12:59] districts to the corporate the policy, actions and even [00:13:03] inaction the fiscal and the monetary [00:13:06] authorities make impact. 90% of Nigeria's economy [00:13:10] is an informal sector, just like this market, and take for [00:13:13] example, they're impacted by government policies like inflation [00:13:17] rates, prices, keep going [00:13:20] up, well trading [00:13:24] is... and mostly virtual get the top stories that set your [00:13:28] investing agenda. Beyond Africa, we got you [00:13:31] covered. It's a full menu for you every [00:13:34] weekday, business morning and business [00:13:38] incorporated only on Channel's [00:13:40] television. [00:13:49] Forms, elections and Nigeria's future. Uh, on [00:13:53] Tuesday it was uh, that... the inec called [00:13:57] a world press conference and say it's 100 [00:14:00] days to the 2020 seven general elections [00:14:04] and you know trying to tell us about your [00:14:07] assuring i think today is 96 [00:14:10] days so we are counting down to the elections [00:14:13] and how ready is INEc and how [00:14:17] ready are Nigerians to take up [00:14:20] you know this very important um [00:14:23] journey towards ensuring that we have the good [00:14:27] leadership that we all desire and we all [00:14:30] want, maybe maybe another way to help people [00:14:34] understand what we're talking about, we always put you is [00:14:38] INEc is a is [00:14:41] recruitment um [00:14:44] agency, no, no, no, no, no, no, political parties are [00:14:48] recruitment agencies, inec is like the [00:14:52] aggregator, and helping... to [00:14:55] employ the right person is [00:14:58] hr is hr [00:15:02] is hr so political parties and recruitment [00:15:05] agencies supplying staff so in this [00:15:08] your yes [00:15:12] where are nigerians they are the company they are [00:15:15] the owners the company thank you [00:15:19] so are we ready as the owners the company to ensure that we [00:15:23] bring in? the right people for this [00:15:27] right jobs that we have, so we are going to have that conversation this [00:15:30] morning um joining us in the studio is a [00:15:33] strategic leadership consultant Mr. Solomon. [00:15:37] thank you for being here, thank you, your [00:15:41] Solomon, okay, it's [00:15:44] okay, also with us already, and professor [00:15:48] vincent and is the founder and director general, [00:15:51] international institute for national transformation, thank [00:15:55] you for joining us, thank you so much, [00:15:59] since i'm with you prof, let ask the same [00:16:02] question, is inec ready, are [00:16:06] Nigerians ready? told us they are ready, but what do you [00:16:10] think? uh, by the [00:16:13] way, I was at the press [00:16:15] conference in Abuja, [00:16:19] and I must say it was a perfectly [00:16:23] delivered speech by the chairman of [00:16:26] INEC, you could almost walk away [00:16:29] thinking that all is well, [00:16:33] but you always find out that the issue... [00:16:37] crises in the time of [00:16:40] execution. execution [00:16:43] involves do you have the competent [00:16:46] people? do they know what to [00:16:49] do? do they have the moral [00:16:53] character to maintain the integrity [00:16:57] the process and most importantly [00:17:00] would they have the protection they need? [00:17:04] efficient tools so that they can transmit. so [00:17:08] I left there saying that talk is [00:17:11] cheap, but action is really where the [00:17:15] robber meets the road, and by the [00:17:18] way, it's not soly the responsibility of [00:17:22] INEC, all Nigerians, the political [00:17:25] parties, everybody must work [00:17:28] together and corporate according to the [00:17:32] guidelines given, and if we do that, I believe we will [00:17:36] have very successful. for electional [00:17:39] outcomes, okay uh, [00:17:42] let me come to the studio now, um, I'm not sure [00:17:46] you were at the press conference, but you have watched it and has assured [00:17:50] us that they are ready, and if we look [00:17:54] back in history and see how eneck tells us, you know, [00:17:58] we are ready, everything is going on well, and then it comes [00:18:02] to election day, we'll hear about glitches and things like [00:18:05] that, um, what? what more would you say that [00:18:09] you know we need to do for for INEC and as [00:18:13] INEC to be ready for this general elections [00:18:16] coming? thank you yummy and uh thank you [00:18:19] viewers um just like prof just mentioned prof [00:18:23] said something about morality and the and and he also [00:18:27] said something about talk being [00:18:29] cheap. um I next said we are [00:18:33] ready and you made reference to points at [00:18:37] which we begin to hear there are glitches, that talks [00:18:41] about ethical leadership, [00:18:44] can iineck be relied upon, will they [00:18:48] stick to what they say, if they are given [00:18:52] this responsibility to make [00:18:56] Nigeria great, that's how I like to put it, are they [00:18:59] willing, are they genuinely committed to making it [00:19:03] happen, that's where the issue lies, and the [00:19:06] last we had so also, but on the day [00:19:10] the election, just like you said, we had there are [00:19:13] glitches, um, in in my opinion, [00:19:17] many of Nigeria's problems are man-made, we [00:19:21] deliberately frustrate technology, we frustrate things, [00:19:25] we want things to be manual, we cause confusion [00:19:28] so that um, [00:19:30] you know, we can do the wrong thing or manipulate it, [00:19:34] so it's possible, if they say they are ready, I believe... are ready [00:19:38] because they are the ones in charge, my own uh constraint is i'm not even [00:19:42] as particularly about inic, i don't know why your me is interested in [00:19:45] hr this morning, i'm more concerned about the [00:19:49] Nigerian themselves, um, do we know what we [00:19:53] want, you are in strategic uh, [00:19:56] you are strategic leadership consultant, so [00:20:00] you and we always say uh, according [00:20:03] to John Maxwell, everything rises and falls on leadership, [00:20:08] but then it has also been demystified that leadership is not [00:20:11] about the person at the top, leadership is about a [00:20:15] system, including the people, leading even their [00:20:19] leaders so to speak, so in terms [00:20:22] of employing the right people, are [00:20:26] Nigerians ready, do we know, you may ask [00:20:30] those questions, is INEc ready, are Nigerians ready, [00:20:33] so are Nigerians ready, do [00:20:36] we do we know what to look? we want what to look out for in [00:20:40] recruiting the right people for the whatever the posts that [00:20:43] there are. okay, thank you. so like you said, i studied strategic [00:20:47] leadership at doctoral level. and we say that um [00:20:51] leadership and followership are two sizes the same coin. [00:20:55] now we we've brought in the issue of recruitment uh in [00:20:59] recruitment um the the pool the [00:21:02] candidates [00:21:03] you know or the pool from which you are doing your leadership selection does [00:21:07] matter and so so um most the people that are being [00:21:11] thrown up are actually Nigerians so just like you [00:21:15] said um there is [00:21:17] the the responsibility of followers. but then we [00:21:21] also must pay attention to the system that seem to throw [00:21:25] up our worst sets of people [00:21:29] uh when we have good ones or some that are [00:21:32] best we also have a system that tries to [00:21:36] checkmate them so that they are unable to deliver [00:21:40] so will we say Nigerians are ready some are some [00:21:43] are not okay some ones things [00:21:47] to uh one things to continue as they've been the status quo because [00:21:51] the confusion benefits them, but there are also [00:21:55] people who knows that the way we are going, if we [00:21:59] don't wake up, those who think they are employ, [00:22:03] they are enjoying, we may end up because I mean we may all [00:22:07] end up coming down together, because um, we are an [00:22:10] ecosystem, and life is social, we are connected, [00:22:14] whether we like it or not, we are interconnected, if [00:22:18] I do something, if I sneeze here, is likely to affect you and [00:22:21] you may carry it to your house and it will affect someone who was not [00:22:25] here, I'll come [00:22:27] to you on on that same you know trajectory, [00:22:31] we've laid the foundation, you has laid the foundation asking the question [00:22:35] whether or not the HR is is [00:22:39] ready uh for this process and then you've also heard Dr. Fande talk about the [00:22:43] fact that the pool from which we are recruiting is [00:22:47] also very very salient. talk to us about [00:22:51] your thoughts on that angle, the pool from which [00:22:54] Nigerians are recruiting, and Nigerians can't just speak [00:22:58] anybody from any political party, it is the [00:23:01] responsibility the recruit recruitment agencies so to speak, which are [00:23:05] the political parties, in my analogy, to throw up [00:23:09] who they are recommending for employment by [00:23:12] Nigerians, help us understand, I mean what's in [00:23:16] that ecosystem and what Nigerians should be looking for. in [00:23:20] that regard, by the way, [00:23:23] Mr. Ayo, I give you excellent credit for [00:23:27] coming up with that analogy, it's a very [00:23:31] perfect analogy, don't forget that [00:23:35] the HR cannot is not the one [00:23:39] producing the people, HR [00:23:42] is selecting from the pool of people [00:23:46] presented to them, incidentally. [00:23:50] the Nigerian education system has [00:23:54] decreasingly been [00:23:58] producing people that lack value, [00:24:01] people that lack skill, so you cannot blame [00:24:05] Nigerians who are not being [00:24:08] properly equipped by [00:24:11] the education system to which they have been [00:24:14] immersed, there has no [00:24:17] been substantive. movement [00:24:21] in the curriculum that produces the [00:24:24] people, education is like [00:24:27] mold, all of us go through that [00:24:31] mode and we become what the [00:24:34] mode is frame to be, so [00:24:38] I will not blame Nigerians because the [00:24:41] inferior education system we have, [00:24:45] that's why it is very critical that [00:24:48] whoever takes office after [00:24:51] January must realize that the [00:24:55] education system needs to be [00:24:58] reformed, need to be strengthened, [00:25:02] needs to be restructured, if you are going to produce [00:25:05] the kind of people that will produce the new [00:25:09] Nigeria that you want, this is what [00:25:13] every developed nation has done, they [00:25:17] anticipate their needs, five things years ahead [00:25:21] of time, they improve the curriculum to [00:25:24] produce the kind of people that will provide those [00:25:28] kinds of services, they upgrade your education [00:25:32] system, by the time it comes [00:25:35] implement the excellent systems [00:25:39] they want, they've already develop the people, and [00:25:42] that's why i am far more interested in [00:25:46] what happens after election than what [00:25:50] happens, not that the election is not important, [00:25:54] but Mr. O, we have lot of work [00:25:57] to do after the election to [00:26:01] fix or... the imbalances that [00:26:04] exist in our society, but you know, one the part of this conversation is [00:26:08] Nigeria's future prof, and I like what you said about the fact [00:26:12] that we should think ahead, like generations [00:26:16] ahead, um, engineer our education [00:26:20] system, so [00:26:21] that the engineer, the this the education system is producing the kind of leaders that [00:26:25] will meet the needs of that future that we have for [00:26:28] ourselves, so let's talk about that future, what? [00:26:32] is that future? the question has continued for very long [00:26:36] time. people are asking the question, what [00:26:40] is the Nigerian vision? because that is would should [00:26:44] be the basis upon which we cannot tweak the [00:26:47] education sector, the education to education [00:26:51] system to produce personnel accordingly. there are those [00:26:55] who always reference the chinas of this world, japans of this [00:26:59] world, saying that they have a system to to... to [00:27:02] educate their children, not just academically, but [00:27:06] also [00:27:07] uh um technically and vocationally. so that [00:27:10] question remains, prof, what is the Nigerian [00:27:14] vision? how do we have that conversation around creating [00:27:18] that vision that our education system will be constructed [00:27:22] against? you know [00:27:25] uh, a very simple [00:27:28] term, the vision of Nigeria, [00:27:32] is already embedded in our national [00:27:35] anthem, you can gleam the future there [00:27:38] our nigerians we [00:27:41] healthy, i still [00:27:44] remember we held the [00:27:47] our native [00:27:49] land [00:27:53] our own their native land though [00:27:57] tribes and tong may differ [00:28:01] in brotherhood we stand, so one the clear [00:28:05] vision of a future Nigeria is [00:28:08] nation of brotherhood, a [00:28:11] common destiny, we are all tied [00:28:15] together in the single garment of [00:28:18] destiny, if you if you hold one [00:28:22] person down, you have to stay down [00:28:25] to keep them down, if you lift each [00:28:29] other, you have to keep right, rising and [00:28:33] rising to lift people to the highest level, so [00:28:37] you yourself you also being lifted, so that [00:28:40] mentality of holding each other must be [00:28:44] totally destroyed, let every region [00:28:48] be unleashed to release their potential towards [00:28:52] the development the nation, and that leads to the issue of [00:28:56] creating economic corridors, let [00:29:00] the southies, let the south. west let the north [00:29:03] central find what makes them take, find [00:29:07] their area of economic [00:29:10] advantage, let them be unleashed to [00:29:14] contribute towards the development of Nigeria, [00:29:17] ultimately is to build one nation [00:29:21] that is bound in freedom, [00:29:24] peace, prosperity and [00:29:27] unity, that's what every nation is [00:29:30] seeking, and that's what every... nation wants to [00:29:34] attend welfare for their people, [00:29:38] peace and security, where they can raise their [00:29:41] families, where they can enjoy their hard [00:29:45] level, that to me should [00:29:49] be the ultimate vision for Nigeria. Okay, let me [00:29:53] come to to doctor, you're smiling, I see you want to add [00:29:57] one or two things to to what he has said, but addition [00:30:01] to some the your... reactions to what he has [00:30:03] said um the irev which is [00:30:07] the um uh inec [00:30:10] results uh viewing you [00:30:13] know portal portal yes [00:30:16] and the beavers yes they are part the reforms [00:30:20] that you know the government have put in place uh to ensure that [00:30:23] yes we can have credible elections [00:30:27] but for the people what should we look out [00:30:31] for in the leaders that we want, because everyone [00:30:35] is saying lot of things now, oh you didn't do it [00:30:39] well, oh your reforms are bad, oh no, my reforms are [00:30:43] good, what should we look out for in all [00:30:46] the noise that will be hearing during this campaign period? all right, [00:30:50] thank you again, yummy, i'll come to that, but just to add a [00:30:54] little to what um prop said, um, he spoke about the [00:30:58] education system, which i