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Downstream Deregulation: Between Obasanjo’s Half-measures And Tinubu’s Bold Leadership

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By Temitope Ajayi
A video of former President Olusegun Obasanjo’s interview with News Central Television has been trending on social media platforms for the past week. In the interview, the former President, in a veiled reference to the current administration, said Nigeria has a President who came into office without a plan. Yet, the same ‘planless’ president is implementing a bold economic reform programme that Obasanjo initiated and abandoned mid-way.
This intervention is essentially about a tale of two leaders and how they both handled fuel subsidy removal, a very touchy issue every president of Nigeria has avoided since 1973 because of its disruptive nature and potential to precipitate a pushback that may lead to civil unrest. This serious matter in itself can make a difference between a bold and courageous leader from one that is pretentious and hesitant.
It is a fact of history that one of the things former President Obasanjo set out to do, among other reforms his administration embarked upon, was complete deregulation of the downstream oil industry. But hard as he tried, he failed to actualise it. Obasanjo faced so much opposition from organised labour and civil society groups that he abandoned a good policy that would have led to massive economic gains for the country. All he could muster the courage to do was to raise the pump price four times during his two-term tenure.
Twenty years after Obasanjo failed to implement complete downstream deregulation, President Bola Tinubu had the courage of his conviction to implement the policy, redirect the economy, and ensure efficiency in the management of public finance.
Despite his foibles and messianic complex, former President Obasanjo is no doubt a remarkable leader. His administration opened the economy and implemented essential reforms that his immediate successor should have continued with. What most critics find offensive about the former president is how he sees himself as the only saviour God created for Nigeria. As far as he is concerned, no other leader before and after him has been good enough. For context and clarity, it is essential to recall the former president’s position on deregulating the downstream oil sector when he was in charge.
In a national broadcast on October 8, 2003, President Obasanjo expressed his frustration and anger at the Nigeria Labour Congress for its opposition to the deregulation of the downstream sector to the point of accusing labour leaders of sedition thus:
“As you are aware, my government has embarked on fundamental reforms designed to depart from the waste and unproductive exercises of the past and leave lasting legacies for the prosperity and improved welfare and well-being of all Nigerians. Since 1999, we have gradually but steadily embarked on the programme of liberalisation and deregulation of the Nigerian economy to promote efficiency and effectiveness of service delivery. Most Nigerians and certainly all organised key stakeholders in the Nigerian economy, including the Nigeria Labour Congress, have endorsed the deregulation programme of government.
“It is a fitting symbol of our administration’s commitment to the welfare of workers and in an effort to cushion the effects of deregulation that the government provided 80 buses to the NLC in 2002. The transliner buses were delivered to the Congress for management without government interference. It is noteworthy that every step taken to deregulate the downstream oil sector has been dogged by, sometimes, irresponsible opposition by the Labour Congress. The result has been that we took too little steps to achieve no meaningful and satisfactory progress. We have tolerated all of these in the interest of promoting popular dialogue and informed dissent.
“Let me inform Nigerians that when government first came up with the deregulation programme, it was endorsed by the NLC and other stakeholders. In fact, the NLC had requested that we call it a “liberalisation” programme. It was thus more a matter of label than of substance. If we had been successful in implementing the deregulation or liberalisation of the downstream oil sector as earlier agreed by all stakeholders, including labour, we would not have been worrying about the periodic and unsatisfactory price-fixing which has led no where except to frustration. The failure to fully deregulate or liberalise has also cost Nigerians billions of naira which are currently wasted on millions of man-hours in queues at the petrol stations.
“The tens of billions of naira currently being lost in money that could have been used to increase capital spending in the universities, fund agriculture, repair and rehabilitate our roads, invest in education and health, improve security with extra police for security of lives and property.
“Realising that the investment of well over $400 million (excluding pipelines and depots) in the last six years mostly on Turn Around Maintenance (TAM) and repairs had not improved the performance of the refineries significantly, government had decided that it was unwise to put additional money into the repair of the Kaduna and Port Harcourt refineries before privatising them.
“What most Nigerians must know is that the contracts for the Turn Around Maintenance for the Kaduna and Port Harcourt refineries were awarded with 50% of the cost paid upfront before the advent of this administration in 1999. Allow me to add that two of the three refinery locations in the country today, were built by my administration as military head of state. This means that if for no other reason, I should be interested in keeping them working. Already, 18 private firms have been licensed to build refineries but they have been reluctant to go into the industry because of Government’s price control in the sector.
“If only 30% of these firms had been able to establish and operate private refineries, thousands of jobs would have been created and Nigeria would have been in a position to even export refined oil products. All these benefits and more have been denied to Nigerians by the stop-go approach to the deregulation or liberalisation programme, and only a few Nigerians are benefiting from the prevailing government-controlled system. In fact, the NLC’s approach has been counter-productive, and inflicted more pains on Nigerian workers. Each time there is a small increase of three naira or more, transporters have used the opportunity to jerk up transportation cost thereby making the ordinary worker poorer.
“A once-and-for-all total deregulation would have meant a once-and-for-all increase in transport cost and the pump price for petroleum products. Without a doubt, a once-and-for-all total deregulation would have resolved the problem of availability and thus bring down prices for those outside Abuja, Lagos, Port Harcourt and their environs who have always paid much more than the official posted price. Pump prices arising from the present total deregulation would, in reality, amount to a reduction in prices of majority of Nigerians.”
Interestingly, excerpts from the 2003 national broadcast by President Obasanjo present a contrast between the former leader and President Tinubu. They also showcase two leadership visions. One leader saw the need to fight for the country’s long-term sustainability but chickened out because he lacked the courage to upset the status quo. Two decades later, another leader saw the damage the failure to make the right economic decision had caused the country. He decided to correct it to avert a looming calamity. While former President Obasanjo left the most challenging task of his presidency undone, President Tinubu tackled head-on what has become an existential threat to our collective well-being from his first day in office. He has remained focused on the bigger picture.
President Tinubu recognises the burden of leadership and responsibility he bears on behalf of Nigerians. In discharging this burden, he knew from day one that he would have to make the right but unpopular decisions that would ultimately serve the best interest of the country and her people.
It is certainly not correct to say this president came to the office without a plan. President Tinubu came into the office with a clear plan titled “Renewed Hope 2023: Action Plan for a Better Nigeria.” It was a well-thought-out programme, with which he canvassed for votes across the country and was elected by our people.
In the past 17 months, he has remained faithful to the document as he implements the distilled eight-point agenda.
At the heart of President Tinubu’s economic revitalisation is gas development and expansion of gas pipeline infrastructure to enable Nigeria to compete with Russia in the European markets. In fairness to him, former President Obasanjo himself recently lamented he did not pay adequate attention to gas during his term of office.
Expanding the pool of available talents and human capital through granting of loans to young Nigerians who are the future of the country to enable them acquire tertiary or vocational education is part of the plans that propelled Tinubu into office. Consumer credit initiative that will promote local production and further stimulate the economy is also high on Tinubu’s action plan. To the President’s credit, these two important policy initiatives among several others are being implemented through NELFUND and Nigerian Consumer Credit Corporation (CrediCorp).
If there is one President of Nigeria that came prepared and well armed with a clear cut plan to reposition the country across sectors for better outcomes, that President, undoubtedly, is President Bola Ahmed Tinubu.
-Ajayi is Senior Special Assistant to President Tinubu on Media and Publicity

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Edo Govt To Raise N160bn For Climate Project While Kidnapping Ravages The State… Is That What The People Need?

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As kidnapping and violent crime continue to escalate across Edo State, the government has announced plans to raise N160 billion to tackle ecological challenges, raising serious questions about priorities in the state.

The Executive Chairman of the Edo State Ecological Fund and Management Commission, Blessing Agbomhere, revealed during a press briefing on Wednesday that the funds would be raised through the Ecological/Climate Trust.

According to him, the Okpebholo Green Revolution for Edo is scheduled to launch next week.

SEE ALSO: Edo Cracks Down on Drug Cartels, Arrests Breastfeeding Mother, Six Others

Agbomhere stated that Edo’s three-year budget would not be enough to remediate gully erosion sites across the state.

The over 60 gully erosion sites identified would be addressed in phases, with some remediation projects costing between N5 billion and N20 billion each.

The government also plans to plant one million trees in four years.

He further raised concerns over illegal sand mining, particularly in Edo South Senatorial District, revealing that many operators have no plans to restore the land after their operations, which continues to exacerbate erosion problems.

“A lot of companies are operating in Edo State. After their operation, they will leave the state without remediating the environment. We are calling on them to tell us their plans for remediation when they leave,” Agbomhere said.

While ecological initiatives are undeniably important, the timing and focus of the government are being questioned.

Kidnapping and insecurity are surging across the state, yet attention and resources are being directed toward environmental projects instead of immediate security measures.

At a time when fear dominates daily life for Edo citizens, raising millions for ecological projects while kidnappers roam freely sends a troubling message: are citizens’ lives being sidelined in pursuit of long-term environmental goals?

Biz Tellers raises the concern: shouldn’t security take precedence over climate projects when residents’ lives are under threat? The government insists that addressing ecological challenges is crucial for long-term development, but for many, this does not answer the urgent question of public safety.

As Edo faces both ecological and security challenges, the debate over government priorities intensifies.

The pressing question remains: is this really what the people need right now?

 

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Opinion/Feature

Obaseki: A Loose Cannon Fanning Global Embers of Hate

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By Fred Itua

Godwin Obaseki’s latest outburst is not a surprise. It is simply the continuation of a pattern that Edo people came to recognize too late. His years in office were marked by intolerance, vindictiveness and a violent streak that constantly simmered beneath the surface. Those who worked closely with him still carry the scars of his temperament. His former deputy, Philip Shaibu, is the most glaring example.

Whatever their disagreement may have been, no rational leader plots the humiliation and removal of a deputy he once described as a brother. Yet Obaseki manipulated every institutional lever available to him to settle a personal score, using the House of Assembly as a pawn to crush a man whose only crime was falling out of favour with the lord of Osadebe Avenue.

In October 2022, Obaseki’s hateful tendencies were expended on those he promised to serve. He supervised the demolition of roughly one hundred homes across Oke-Oroma, Irhirhi-Obazagbon and Ogheghe communities. Residents insisted they held valid documents, including Certificates of Occupancy, yet he pushed ahead in defiance of a subsisting court order that had restrained any action pending the determination of their suit. The result was devastating. Thousands were displaced and property worth billions of naira were reduced to rubble. Such a vindictive man!

Edo people saw the full extent of this violence during the 2024 governorship election when Obaseki stood before cameras and threatened that Edo would burn if his preferred candidate lost. Those words were not the empty rant of a frustrated politician. They came from a man with a history of weaponizing state power, a man whose administration armed loyalists and created networks of political enforcers who blended easily into the criminal elements that then turned their guns on innocent citizens.

ALSO READ: Edo Cracks Down on Drug Cartels, Arrests Breastfeeding Mother, Six Others

It is no coincidence that the early days of the current administration were choked with spikes in kidnapping and armed robbery. These were not random crimes. They were the desperate convulsions of an ecosystem built, funded and empowered by Obaseki himself.

Governor Monday Okpebholo has had to stabilize a state that was deliberately left volatile. Through calm leadership and quiet strength, he has managed to rein in the chaos and restore public confidence. But Obaseki, instead of retreating into reflection, has doubled down.

His recent video in Birmingham reveals a man who cannot bear the reality that Edo people have moved on. He accused Okpebholo of being “stupid”, boasted that he is mobilizing the international community against him and President Bola Ahmed Tinubu, and threatened that the governor “will see”.

These are not harmless statements from an angry former office holder. They are calculated threats from someone who has never hidden his desire to destabilize Edo State whenever power slips from his grip.

He claims that a governor from Irrua cannot dictate to people in Benin. That remark alone exposes the dangerous tribal undertone of his politics. For eight years, he exploited ethnic sentiment to divide communities and isolate opponents. Now, he is attempting to ignite the same divisive flame against a governor who has only focused on governance, inclusiveness and development.

Obaseki’s language in that video is not only reckless, it is incendiary. It hints at an attempt to stir resentment, inflame divisions and rally hostility toward a government that is working hard to rebuild the damage he left behind.

His recent globe-trotting under the guise of “meet and greet” is now clearer for what it is: an effort to secure foreign sympathy, funding and legitimacy for a domestic political battle he has already lost. When a former governor openly brags about mobilizing the diaspora and the global community against the current leadership of his own state, it raises valid questions about intent.

What exactly does he need international pressure for? Why is he desperately trying to create a narrative of crisis where none exists? And who are the people he hopes to recruit from abroad? Edo people have not forgotten that this same man once threatened to burn down Nigeria during an election.

They have not forgotten that his private “security structure” terrorized communities under the cloak of political loyalty. They understand the implications of a former governor seeking global support while trading in fear and hostility.

The uncomfortable truth is that Obaseki’s comments suggest a willingness to collaborate with external actors to undermine the peace of Edo State. A man who once equipped foot soldiers and political enforcers is now boasting about global mobilization.

The link is not far-fetched. His post-tenure travel pattern, sudden desperation and inflammatory rhetoric open the possibility that he is seeking funds or tacit support to revive the political machinery that once served him; a machinery that slipped into criminality after he left office. Edo cannot afford to overlook this. A man who once used threats to bend institutions is now using threats to intimidate a sitting governor.

And yet, despite Obaseki’s attempt to twist reality, Monday Okpebholo has not threatened him. He has not weaponized ethnicity. He has not responded with abuse. All he has done is to remind the public that the records of Obaseki’s misrule are there for anyone to examine.

The refusal to swear in duly-elected lawmakers. The manipulation of the Assembly to serve private interests. The unprecedented decision to withhold the swearing-in of judges recommended by the National Judicial Council. The demolition of the central hospital without providing a viable alternative for ordinary people. These actions were not just bad governance; they were the height of arrogance and indifference to the people he claimed to represent.

It is ironic that Obaseki now accuses others of threatening him when his own record is littered with acts that undermined the wellbeing of Edo people. His fear is not Governor Okpebholo. His fear is accountability. His fear is that the fog of propaganda can no longer cover the damage he inflicted on institutions, communities and public trust. And so he runs abroad to find new allies, hoping that distance will distort the truth.

His attacks on Governor Okpebholo’s loyalty to President Bola Tinubu are even more revealing. By insisting that Okpebholo should not deliver votes to the President, Obaseki exposes the bitterness that comes from losing political relevance. But governance is not about ego. Performance is what earns support. And Okpebholo’s quiet but consistent reforms across infrastructure, security, social welfare and public administration already place him miles ahead of the eight years of stagnation that Obaseki left behind. Edo people are not blind. They know who is working. They know who listens. They know who respects them. No amount of foreign posturing will change that.

Obaseki’s latest rant is a dangerous escalation from a man struggling to remain politically relevant. It is an open threat to peace and a signal that he is willing to drag Edo into conflict just to nurse his bruised pride. Edo people and the federal government must treat this with the seriousness it deserves. A former governor openly encouraging dissent abroad while tribalizing politics at home is a security concern. His record, his words and his behavior suggest that he is not acting alone.

The time has come for security agencies to take Obaseki’s latest comments and conduct seriously. His public threats, global mobilization and divisive rhetoric raise red flags that cannot be ignored. A thorough probe is needed to determine the intent behind his statements and the networks he is attempting to activate.

His known supporters, online loyalists and political enforcers must be properly profiled and monitored to ensure they do not undermine the peace Edo State is currently enjoying. Edo cannot afford to slip back into instability, and every institution responsible for protecting public safety must act decisively before words escalate into something more dangerous.

Fred Itua, the Chief Press Secretary to Governor Monday Okpebholo wrote from Benin City, Edo State

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Opinion/Feature

For the Records … Revocation of CofO of Presco Plc

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I have received calls, messages and other inquiries regarding the revocation of the CofO of Presco Plc by Governor Monday Okpebholo. The Secretary to State Government, Barr. Umar Musa Ikhilor, has robustly explained the issues.

Unfortunately, some folks, for obvious reasons, are still yearning for more answers. I’ll explain the facts and I hope this helps.

It has been established that the published Revocation Notice didn’t pass through the appropriate channels. Again, the actual number of hectares intended for excision from Presco Plc’s total landholding was grossly misrepresented in the published text.

For clarity, the Edo State Government has not revoked Presco Plc’s Statutory Right of Occupancy. What was under technical consideration was the excision of approximately 20 hectares—a clearly defined area—strictly limited to the portions of land containing strategic crude oil wells.

This excision became necessary because no individual or company can lawfully exercise proprietary rights over land where mineral resources are located, as such resources are vested exclusively in the Federal Government.

Section 44(3) of the Constitution of the Federal Republic of Nigeria (1999, as amended) provides that:

“Notwithstanding the foregoing provisions of this section, the entire property in and control of all minerals, mineral oils and natural gas in, under or upon any land in Nigeria shall vest in the Government of the Federation…”

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Section 1 of the Petroleum Industry Act, 2021 similarly states that:

“…the entire ownership and control of all petroleum in, under or upon any lands in Nigeria shall be vested in the State (Federal Government)…”

Section 28 of the Land Use Act (1978) empowers government to revoke rights of occupancy strictly for overriding public interest, which includes matters relating to mineral exploitation.

The Edo State Government advises the general public, stakeholders, and Presco Plc to disregard the notice in its entirety.

Meanwhile, Governor Monday Okpebholo has initiated a formal administrative review to strengthen internal controls to prevent future breaches.

The administration of Governor Monday Okpebholo reiterates its commitment to transparent land administration, orderly engagement with investors, and the protection of public interest, particularly in matters involving national strategic assets such as oil and gas assets.

So, my people, no cause for alarm.

Fred Itua is the Chief Press Secretary to Governor Monday Okpebholo of Edo State.

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