Google Speech-to-Text API Automatic Transcription (Chirp). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00to do lot of campaign about patriotism in
00:00:03of Nigeria
00:00:04of so that people do not abuse uh the policy that
00:00:08government intends uh
00:00:11of to have positive impact on the people so people don't just get
00:00:15discounted price and then begin to sell higher rather
00:00:19than
00:00:20of transport people around the third thing is that the
00:00:22subnationals
00:00:24me have responsibility the state government the
00:00:27local government I have not
00:00:30seen
00:00:32uh a state like Legos, Legos is trying, so you
00:00:36have the blue rail, you know,
00:00:39of why can't we connect the three senatorial district
00:00:42in all the respective state with
00:00:45train, is doable, and it's not rocket
00:00:48science, um, during my my my PhD
00:00:52of of research, I went to Forstrail in Scotland, and we
00:00:56found out that these things are not rocket science, and we
00:01:00cannot shift all the blame to the federal government, state government, what are
00:01:04they doing, where are the buses they are using to
00:01:07of move student to school during the rush hour to move
00:01:11civil servant to work, so they don't have to
00:01:15drive their
00:01:16of cars, so these are issues, what are we
00:01:19of doing about having uh primary health care
00:01:24in center that is being controlled by state government effective in all
00:01:27the villages, in all the towns, so that you don't need
00:01:31too much money to get health care. what are we
00:01:35doing about our
00:01:37of primary and secondary school, such that there are enough
00:01:41chairs, good teachers and then sit for
00:01:45them, and so people will not have to think
00:01:49of sending the awards to private school where they will be needing
00:01:5230000 uh per time or 1 million per
00:01:56time and then there is pressure every text message you get.
00:02:00what is government going to do
00:02:01of about mass housing? heard that the federal government has
00:02:05intention to build wonderful mass housings
00:02:08along all
00:02:09of the major highways that is going on,
00:02:12of maybe shokoto, badagre road, fantastic initiative,
00:02:16i pray they do this quickly uh, you know so that
00:02:19things can reduce, because when you look at house rent, you look
00:02:23at transport cos, you look at healthcare cost, you look at
00:02:26education, there is problem, it's not sustainable.
00:02:30several people cannot do it. i was with a company uh two
00:02:34days ago and we analyzed a staff that
00:02:38ends 1 million
00:02:39of i in that company and myself and
00:02:42foreigner we concluded that that
00:02:45individual has two children, he has a car.
00:02:49the current
00:02:50of price of 2023 corolla in Nigeria is
00:02:54about 25 to 26 million. so we look at that guy, he didn't
00:02:58know we were discussing him. "we said if this guy is able to save
00:03:02200,000 a month, in one year he will save
00:03:052.4 million, in 10 years he will save
00:03:0924 million, he cannot even buy one corolla, 10 years
00:03:13to come, prices has gone up and it's
00:03:16not if those prices went above the roof out
00:03:19of the country, it's because
00:03:21of the exchange rate, so we need to do something
00:03:25you know little by little so that our
00:03:28naira can gain" more value so that the
00:03:32items
00:03:33of that are import dependent, they can begin to crash
00:03:36little by little, and I know we can achieve it, it's a matter
00:03:40of sitting, so the number of
00:03:44policies that have to be together, one cannot work in
00:03:47isolation, okay,
00:03:51of exactly
00:03:51the idea, so many other levels of government to - to come
00:03:54in, what are your thoughts, what are the
00:03:59of immediates in in European? union
00:04:01um steps that need to be taken to ameliorate some
00:04:04of the pressure uh that this initiative of government
00:04:07this skyrocketing cost of
00:04:10living that the government is trying to mitigate what other things need
00:04:14to be added because
00:04:15it will seem like
00:04:16a this one
00:04:16of initiative is not likely to be
00:04:18enough
00:04:22yeah
00:04:24mean like i said mass transportation schemes will be
00:04:27needed with and of course we need to double down on the
00:04:31uh CNG initiative uh we need to
00:04:35displace lot
00:04:37of the uh right now the
00:04:40component of petrol in our transportation is high, it's way too
00:04:44of high, I think we need to displace that to other fuels,
00:04:48that's very important, and then we in the
00:04:52of of government needs to, so when we think about the pump price, there are elements of that pump price
00:04:56there
00:04:56of are that are that are payments to governments and
00:05:00agencies, so maybe they can take
00:05:03a closer look and see what they can wave in the for a limited
00:05:06period uh to help
00:05:09of reduce the pomp price. I think that's that will be a quick win. if you ask
00:05:13me uh and then of course um again like I keep
00:05:16saying these interventions need to have easy
00:05:20tramp, preferably an automatic exit ram so that we don't
00:05:23end up with something that perpetuates um like we've
00:05:27seen in the past so whatever intervention we have must have a
00:05:31time frame within which it has to wind down uh
00:05:35because these are is distortions ultimately to the
00:05:39the free market system that we are trying to put in place uh
00:05:43so that's those are my thoughts on what we can do in the near
00:05:46term to address the immediate challenges we face while we
00:05:50do not lose sight the ultimate destination
00:05:54which is a free competitive market going
00:05:58forward i think that is very important and addressing the
00:06:01immediate challenges why not losing sight the
00:06:05ultimate destination which is a highly competitive market dare
00:06:09say that if the
00:06:12consumer is the principal
00:06:16uh is the primary reason for public policy, if the welfare the
00:06:20consumer, then a competitive market
00:06:23is the right answer, and this
00:06:27you know while we address all these uh immediate
00:06:31challenges, let's not lose sight of that destination.
00:06:35okay, dr. let me just take us back to uh part
00:06:39of what uh engineer
00:06:40wake said earlier mentioning. um the
00:06:44manufacturing uh sector, how this
00:06:47you know foil subsidy issue is affecting manufacturing
00:06:51in Nigeria, the government came up with the
00:06:54presidential um intervention fund
00:06:57program, it's 200 billion naira uh
00:07:0175 billion to the large enterprises,
00:07:04msmes got 75 billion to and nano business is
00:07:0850 um, but lot of people have said that is just like
00:07:12drop in the ocean, what more do you think they can
00:07:16do in that line to ensure that
00:07:20businesses, enterprises in Nigeria, they can stay a
00:07:23float,
00:07:26well energy is major cost for
00:07:30everybody, it's a major cost, whether in
00:07:33hospitality, in manufacturing, uh, you seeher
00:07:37you have um a generator with diesel or you
00:07:40rely on the power grid and then you and have a gas uh
00:07:44generator, so what I think government need to do
00:07:48is to look at how to address clusters
00:07:51of manufacturers, take for instance,
00:07:55there's what we call um the flower gate in og
00:07:59state from nest to uh down to a place called
00:08:03kobakwe, so on your right on your
00:08:06left you have factories and I think I'm proud
00:08:10that Ugun States has become industrial
00:08:13capital of Nigeria, now that may
00:08:17not be good news if we don't address
00:08:21how power can get to these people, and so state government
00:08:25need to sit down and say, look, what is the energy requirement
00:08:29for factories that are here in these clusters, and then we can
00:08:33have heavy power plant uh power by
00:08:36gas to reduce their production
00:08:40cost, and when that happened, "it will have effect
00:08:44on their prices, because is what
00:08:48your cost is that you put a markup
00:08:51on before you determine your price, and you cannot ask
00:08:55somebody who produce a unit of product that is
00:08:59coming out at 100 naira and you are asking him to
00:09:02sell at 80ira, it's not going to happen, it
00:09:06must also sell to cover the cost, have a
00:09:10gross profit and then..." cover the overhs,
00:09:14staff salaries and other expenses,
00:09:17so the major issue is that
00:09:21nemo that quadnon are bet, you cannot give
00:09:25what you don't have, so we need to address
00:09:29these clusters, manufacturers, apart from
00:09:32that, we need to also come with intervention
00:09:36on cost of fund to these entities, for
00:09:39example,
00:09:40if we look at everybody that is into production
00:09:44of food items, we can use the bank of industry
00:09:48and other commercial bank to channel fund to them at single
00:09:52digit rate, and we do it, you know,
00:09:56massively that nobody is left out, not
00:09:59discriminatory, and we look at the comparative
00:10:03advantage the six geopolitical zone, southwest,
00:10:06south south, southeast, north central, northwest,
00:10:10northeast. people who are producing leather, people
00:10:14who are having where we can get leathers, people who are in
00:10:18the southeast that are producing shoes and shirts, all
00:10:22these areas we will have. intervention
00:10:26in terms of cost of fund and that's why
00:10:29China is taking over factories in
00:10:32Nigeria, it's not because they are too special, companies in
00:10:36Nigeria are getting uh money a
00:10:40rate that does not make sense when you compare them with people that
00:10:44are getting
00:10:45from China, so you get 1 million from
00:10:47china, it's clear that we need an all of
00:10:50society or should I say all of government approach to
00:10:54uh these issues that you're talking about, so many things
00:10:58are tied to this, thank you so much for your time this morning, Dr.
00:11:02Bingard is president economic summit, he is also a
00:11:05lawyer, chartered accountant as well, we've also had
00:11:09engineer who is petroleum engineer, thank you so much for
00:11:13your time, engineer work, we had hoped to have
00:11:16the president the petroleum products retail outlets
00:11:20owners association of Nigeria on the program this morning, but for.
00:11:25raising he was unable to join us, hopefully we'll get him on other programs this
00:11:29morning. in the meantime, we take a short break now, when
00:11:32we return, policies always come from leaders,
00:11:36let's talk a little about that after this
00:11:39break.
00:12:49with news gathering and research. we
00:12:51need to confirm the story.
00:12:55directors as well as policy makers from the business
00:12:59districts to the corporate the policy, actions and even
00:13:03inaction the fiscal and the monetary
00:13:06authorities make impact. 90% of Nigeria's economy
00:13:10is an informal sector, just like this market, and take for
00:13:13example, they're impacted by government policies like inflation
00:13:17rates, prices, keep going
00:13:20up, well trading
00:13:24is... and mostly virtual get the top stories that set your
00:13:28investing agenda. Beyond Africa, we got you
00:13:31covered. It's a full menu for you every
00:13:34weekday, business morning and business
00:13:38incorporated only on Channel's
00:13:40television.
00:13:49Forms, elections and Nigeria's future. Uh, on
00:13:53Tuesday it was uh, that... the inec called
00:13:57a world press conference and say it's 100
00:14:00days to the 2020 seven general elections
00:14:04and you know trying to tell us about your
00:14:07assuring i think today is 96
00:14:10days so we are counting down to the elections
00:14:13and how ready is INEc and how
00:14:17ready are Nigerians to take up
00:14:20you know this very important um
00:14:23journey towards ensuring that we have the good
00:14:27leadership that we all desire and we all
00:14:30want, maybe maybe another way to help people
00:14:34understand what we're talking about, we always put you is
00:14:38INEc is a is
00:14:41recruitment um
00:14:44agency, no, no, no, no, no, no, political parties are
00:14:48recruitment agencies, inec is like the
00:14:52aggregator, and helping... to
00:14:55employ the right person is
00:14:58hr is hr
00:15:02is hr so political parties and recruitment
00:15:05agencies supplying staff so in this
00:15:08your yes
00:15:12where are nigerians they are the company they are
00:15:15the owners the company thank you
00:15:19so are we ready as the owners the company to ensure that we
00:15:23bring in? the right people for this
00:15:27right jobs that we have, so we are going to have that conversation this
00:15:30morning um joining us in the studio is a
00:15:33strategic leadership consultant Mr. Solomon.
00:15:37thank you for being here, thank you, your
00:15:41Solomon, okay, it's
00:15:44okay, also with us already, and professor
00:15:48vincent and is the founder and director general,
00:15:51international institute for national transformation, thank
00:15:55you for joining us, thank you so much,
00:15:59since i'm with you prof, let ask the same
00:16:02question, is inec ready, are
00:16:06Nigerians ready? told us they are ready, but what do you
00:16:10think? uh, by the
00:16:13way, I was at the press
00:16:15conference in Abuja,
00:16:19and I must say it was a perfectly
00:16:23delivered speech by the chairman of
00:16:26INEC, you could almost walk away
00:16:29thinking that all is well,
00:16:33but you always find out that the issue...
00:16:37crises in the time of
00:16:40execution. execution
00:16:43involves do you have the competent
00:16:46people? do they know what to
00:16:49do? do they have the moral
00:16:53character to maintain the integrity
00:16:57the process and most importantly
00:17:00would they have the protection they need?
00:17:04efficient tools so that they can transmit. so
00:17:08I left there saying that talk is
00:17:11cheap, but action is really where the
00:17:15robber meets the road, and by the
00:17:18way, it's not soly the responsibility of
00:17:22INEC, all Nigerians, the political
00:17:25parties, everybody must work
00:17:28together and corporate according to the
00:17:32guidelines given, and if we do that, I believe we will
00:17:36have very successful. for electional
00:17:39outcomes, okay uh,
00:17:42let me come to the studio now, um, I'm not sure
00:17:46you were at the press conference, but you have watched it and has assured
00:17:50us that they are ready, and if we look
00:17:54back in history and see how eneck tells us, you know,
00:17:58we are ready, everything is going on well, and then it comes
00:18:02to election day, we'll hear about glitches and things like
00:18:05that, um, what? what more would you say that
00:18:09you know we need to do for for INEC and as
00:18:13INEC to be ready for this general elections
00:18:16coming? thank you yummy and uh thank you
00:18:19viewers um just like prof just mentioned prof
00:18:23said something about morality and the and and he also
00:18:27said something about talk being
00:18:29cheap. um I next said we are
00:18:33ready and you made reference to points at
00:18:37which we begin to hear there are glitches, that talks
00:18:41about ethical leadership,
00:18:44can iineck be relied upon, will they
00:18:48stick to what they say, if they are given
00:18:52this responsibility to make
00:18:56Nigeria great, that's how I like to put it, are they
00:18:59willing, are they genuinely committed to making it
00:19:03happen, that's where the issue lies, and the
00:19:06last we had so also, but on the day
00:19:10the election, just like you said, we had there are
00:19:13glitches, um, in in my opinion,
00:19:17many of Nigeria's problems are man-made, we
00:19:21deliberately frustrate technology, we frustrate things,
00:19:25we want things to be manual, we cause confusion
00:19:28so that um,
00:19:30you know, we can do the wrong thing or manipulate it,
00:19:34so it's possible, if they say they are ready, I believe... are ready
00:19:38because they are the ones in charge, my own uh constraint is i'm not even
00:19:42as particularly about inic, i don't know why your me is interested in
00:19:45hr this morning, i'm more concerned about the
00:19:49Nigerian themselves, um, do we know what we
00:19:53want, you are in strategic uh,
00:19:56you are strategic leadership consultant, so
00:20:00you and we always say uh, according
00:20:03to John Maxwell, everything rises and falls on leadership,
00:20:08but then it has also been demystified that leadership is not
00:20:11about the person at the top, leadership is about a
00:20:15system, including the people, leading even their
00:20:19leaders so to speak, so in terms
00:20:22of employing the right people, are
00:20:26Nigerians ready, do we know, you may ask
00:20:30those questions, is INEc ready, are Nigerians ready,
00:20:33so are Nigerians ready, do
00:20:36we do we know what to look? we want what to look out for in
00:20:40recruiting the right people for the whatever the posts that
00:20:43there are. okay, thank you. so like you said, i studied strategic
00:20:47leadership at doctoral level. and we say that um
00:20:51leadership and followership are two sizes the same coin.
00:20:55now we we've brought in the issue of recruitment uh in
00:20:59recruitment um the the pool the
00:21:02candidates
00:21:03you know or the pool from which you are doing your leadership selection does
00:21:07matter and so so um most the people that are being
00:21:11thrown up are actually Nigerians so just like you
00:21:15said um there is
00:21:17the the responsibility of followers. but then we
00:21:21also must pay attention to the system that seem to throw
00:21:25up our worst sets of people
00:21:29uh when we have good ones or some that are
00:21:32best we also have a system that tries to
00:21:36checkmate them so that they are unable to deliver
00:21:40so will we say Nigerians are ready some are some
00:21:43are not okay some ones things
00:21:47to uh one things to continue as they've been the status quo because
00:21:51the confusion benefits them, but there are also
00:21:55people who knows that the way we are going, if we
00:21:59don't wake up, those who think they are employ,
00:22:03they are enjoying, we may end up because I mean we may all
00:22:07end up coming down together, because um, we are an
00:22:10ecosystem, and life is social, we are connected,
00:22:14whether we like it or not, we are interconnected, if
00:22:18I do something, if I sneeze here, is likely to affect you and
00:22:21you may carry it to your house and it will affect someone who was not
00:22:25here, I'll come
00:22:27to you on on that same you know trajectory,
00:22:31we've laid the foundation, you has laid the foundation asking the question
00:22:35whether or not the HR is is
00:22:39ready uh for this process and then you've also heard Dr. Fande talk about the
00:22:43fact that the pool from which we are recruiting is
00:22:47also very very salient. talk to us about
00:22:51your thoughts on that angle, the pool from which
00:22:54Nigerians are recruiting, and Nigerians can't just speak
00:22:58anybody from any political party, it is the
00:23:01responsibility the recruit recruitment agencies so to speak, which are
00:23:05the political parties, in my analogy, to throw up
00:23:09who they are recommending for employment by
00:23:12Nigerians, help us understand, I mean what's in
00:23:16that ecosystem and what Nigerians should be looking for. in
00:23:20that regard, by the way,
00:23:23Mr. Ayo, I give you excellent credit for
00:23:27coming up with that analogy, it's a very
00:23:31perfect analogy, don't forget that
00:23:35the HR cannot is not the one
00:23:39producing the people, HR
00:23:42is selecting from the pool of people
00:23:46presented to them, incidentally.
00:23:50the Nigerian education system has
00:23:54decreasingly been
00:23:58producing people that lack value,
00:24:01people that lack skill, so you cannot blame
00:24:05Nigerians who are not being
00:24:08properly equipped by
00:24:11the education system to which they have been
00:24:14immersed, there has no
00:24:17been substantive. movement
00:24:21in the curriculum that produces the
00:24:24people, education is like
00:24:27mold, all of us go through that
00:24:31mode and we become what the
00:24:34mode is frame to be, so
00:24:38I will not blame Nigerians because the
00:24:41inferior education system we have,
00:24:45that's why it is very critical that
00:24:48whoever takes office after
00:24:51January must realize that the
00:24:55education system needs to be
00:24:58reformed, need to be strengthened,
00:25:02needs to be restructured, if you are going to produce
00:25:05the kind of people that will produce the new
00:25:09Nigeria that you want, this is what
00:25:13every developed nation has done, they
00:25:17anticipate their needs, five things years ahead
00:25:21of time, they improve the curriculum to
00:25:24produce the kind of people that will provide those
00:25:28kinds of services, they upgrade your education
00:25:32system, by the time it comes
00:25:35implement the excellent systems
00:25:39they want, they've already develop the people, and
00:25:42that's why i am far more interested in
00:25:46what happens after election than what
00:25:50happens, not that the election is not important,
00:25:54but Mr. O, we have lot of work
00:25:57to do after the election to
00:26:01fix or... the imbalances that
00:26:04exist in our society, but you know, one the part of this conversation is
00:26:08Nigeria's future prof, and I like what you said about the fact
00:26:12that we should think ahead, like generations
00:26:16ahead, um, engineer our education
00:26:20system, so
00:26:21that the engineer, the this the education system is producing the kind of leaders that
00:26:25will meet the needs of that future that we have for
00:26:28ourselves, so let's talk about that future, what?
00:26:32is that future? the question has continued for very long
00:26:36time. people are asking the question, what
00:26:40is the Nigerian vision? because that is would should
00:26:44be the basis upon which we cannot tweak the
00:26:47education sector, the education to education
00:26:51system to produce personnel accordingly. there are those
00:26:55who always reference the chinas of this world, japans of this
00:26:59world, saying that they have a system to to... to
00:27:02educate their children, not just academically, but
00:27:06also
00:27:07uh um technically and vocationally. so that
00:27:10question remains, prof, what is the Nigerian
00:27:14vision? how do we have that conversation around creating
00:27:18that vision that our education system will be constructed
00:27:22against? you know
00:27:25uh, a very simple
00:27:28term, the vision of Nigeria,
00:27:32is already embedded in our national
00:27:35anthem, you can gleam the future there
00:27:38our nigerians we
00:27:41healthy, i still
00:27:44remember we held the
00:27:47our native
00:27:49land
00:27:53our own their native land though
00:27:57tribes and tong may differ
00:28:01in brotherhood we stand, so one the clear
00:28:05vision of a future Nigeria is
00:28:08nation of brotherhood, a
00:28:11common destiny, we are all tied
00:28:15together in the single garment of
00:28:18destiny, if you if you hold one
00:28:22person down, you have to stay down
00:28:25to keep them down, if you lift each
00:28:29other, you have to keep right, rising and
00:28:33rising to lift people to the highest level, so
00:28:37you yourself you also being lifted, so that
00:28:40mentality of holding each other must be
00:28:44totally destroyed, let every region
00:28:48be unleashed to release their potential towards
00:28:52the development the nation, and that leads to the issue of
00:28:56creating economic corridors, let
00:29:00the southies, let the south. west let the north
00:29:03central find what makes them take, find
00:29:07their area of economic
00:29:10advantage, let them be unleashed to
00:29:14contribute towards the development of Nigeria,
00:29:17ultimately is to build one nation
00:29:21that is bound in freedom,
00:29:24peace, prosperity and
00:29:27unity, that's what every nation is
00:29:30seeking, and that's what every... nation wants to
00:29:34attend welfare for their people,
00:29:38peace and security, where they can raise their
00:29:41families, where they can enjoy their hard
00:29:45level, that to me should
00:29:49be the ultimate vision for Nigeria. Okay, let me
00:29:53come to to doctor, you're smiling, I see you want to add
00:29:57one or two things to to what he has said, but addition
00:30:01to some the your... reactions to what he has
00:30:03said um the irev which is
00:30:07the um uh inec
00:30:10results uh viewing you
00:30:13know portal portal yes
00:30:16and the beavers yes they are part the reforms
00:30:20that you know the government have put in place uh to ensure that
00:30:23yes we can have credible elections
00:30:27but for the people what should we look out
00:30:31for in the leaders that we want, because everyone
00:30:35is saying lot of things now, oh you didn't do it
00:30:39well, oh your reforms are bad, oh no, my reforms are
00:30:43good, what should we look out for in all
00:30:46the noise that will be hearing during this campaign period? all right,
00:30:50thank you again, yummy, i'll come to that, but just to add a
00:30:54little to what um prop said, um, he spoke about the
00:30:58education system, which i