₦airaland Forum

Presidential Candidate of the Accord Party, Dr. Gbenga Olawepo-Hashim, has said Nigerians should not have to pay more than ₦605 per litre for petrol under an Accord administration, arguing that the price could eventually fall to as low as ₦200 per litre if Nigeria gets its production costs and exchange rate right.

Hashim said the proposed price would represent a starting sustainable price, not an artificially subsidised price, and insisted that the reduction would not come at the expense of government revenue or Federation Account Allocation Committee (FAAC) revenues.

“₦605 per litre is our starting sustainable price for petrol. Nobody will buy petrol above ₦610 under our government. It could be as low as ₦200.”

He said the key to achieving the price was not another opaque subsidy regime but a fundamental correction of what he described as Nigeria's distorted petroleum cost and accounting structure.

Hashim, who has consistently opposed the removal of petroleum subsidy, described the previous justification for subsidy removal as “accounting magic”, arguing that Nigeria must first establish the genuine cost of producing, refining, transporting and distributing petrol before declaring that government is subsidising consumers.

“Any time you sell a product above its legitimate cost of production, refining, transportation and insurance, you cannot call the difference between that price and an international benchmark a subsidy loss. That is opportunity cost.”

According to him, Nigeria has often approached petroleum pricing by comparing the domestic value of crude or refined products with international market prices, rather than determining what it actually costs Nigeria to produce and deliver the product to Nigerian consumers.

He said this creates a misleading impression that government is necessarily making a loss whenever Nigerians receive petroleum products below an international benchmark.

“A country does not subsidise itself simply because it chooses to use its own resources to provide affordable energy to its citizens.”

Hashim called for an independent forensic audit of Nigeria's petroleum cost structure, covering crude production, contracting, procurement, refining, transportation, storage, insurance, pipeline operations and distribution.

He said the audit should establish the actual cost of producing and delivering every litre of petrol to the Nigerian market.

“Show Nigerians the books. Publish the production cost. Publish refinery cost. Publish transportation. Publish insurance. Publish every margin. Let the data speak.”

The Accord candidate argued that Nigeria's high petroleum costs cannot simply be passed on to consumers without examining the reasons behind them.

He questioned the country's relatively high production costs compared with major oil-producing economies, arguing that contracting, procurement, insecurity, operational inefficiency and possible cost inflation deserve closer scrutiny.

“Before asking Nigerians to pay more, government must first explain why it costs so much to produce our own oil. If the cost is genuine, show us the evidence. If it is inefficiency, corruption or inflated contracting, fix it.”

Hashim said Nigerians were effectively paying twice for the weaknesses of the petroleum sector: first through inefficient and inflated production costs, and again through higher prices at the pump.

“The Nigerian people should not pay for inefficiency twice. They should not pay for inflated costs inside the system and then be told that the resulting high price is the inevitable consequence of subsidy removal.”

He said his proposed pricing framework would be based on two fundamental variables, an appropriate production cost and an appropriate exchange rate.

Hashim said his administration would target an exchange rate of between ₦525 and ₦700 to the US dollar, arguing that exchange-rate stability would substantially affect the naira cost of petroleum-sector inputs and the wider economy.

“We will achieve this strictly by ensuring appropriate production cost and appropriate exchange rate.”

He stressed that the proposed reduction would not be financed by reducing government revenue.

“The reduction will not be at the detriment of government revenue or below current FAAC. We are not going to make petrol cheaper by making government poorer.”

According to Hashim, the objective is to reduce the underlying cost of production rather than simply transfer the cost from government accounts to consumers or vice versa.

He argued that lower energy costs could also stimulate production, reduce transportation and manufacturing costs, increase household purchasing power and expand the economic base from which government generates revenue.

“Our objective is not simply cheap petrol. Our objective is a productive Nigerian economy in which affordable energy, stronger production and stronger government revenue reinforce one another.”

Hashim said the proposed ₦200–₦300 per litre price should therefore be understood as a potential medium-term outcome of correcting the country's economic fundamentals, rather than an arbitrary political promise.

“₦605 is the starting sustainable price. If we get production costs right and achieve the exchange-rate target, the price could come down to ₦200 or ₦300.”

He said the policy would also be accompanied by accelerated domestic refining, greater transparency in the petroleum value chain and measures to eliminate waste and leakages.

Hashim maintained that subsidy itself should not be treated as automatically illegitimate, provided that any intervention is transparent, targeted and designed to achieve measurable economic objectives.

“The issue is not whether government can intervene. The issue is whether government intervention is transparent, productive and accountable. Subsidy should protect Nigerians and the productive economy, not enrich intermediaries.”

He said the debate over petrol pricing should therefore move beyond political slogans and focus on the underlying data.

“Let the data speak. Tell Nigerians exactly what it costs to produce the crude, what it costs to refine it, what it costs to transport it and what every margin represents. Then we can have an honest conversation about subsidy.”

Hashim said the 2027 election should ultimately be a contest over competing economic models and not merely competing political personalities.

“Nigeria does not have to choose between affordable petrol and government revenue. We can have both. But we must stop using accounting to hide inefficiency and start using economics to build prosperity.”

Presidential Candidate of the Accord Party, Dr. Gbenga Olawepo-Hashim, has described former Vice President Atiku Abubakar as the “father of subsidy removal” in Nigeria’s Fourth Republic, saying his recent reversal on fuel subsidy removal deserves an explanation and an apology to Nigerians.

Hashim said he had consistently opposed the removal of subsidy on petroleum products and reiterated his position during an interview on Trust TV last week, where he advocated restoring subsidy on petroleum and other strategically important products as part of measures to protect citizens and productive sectors from excessive economic shocks.

According to Hashim, the subsequent change of position by politicians who previously advocated subsidy removal raises questions about the sincerity and originality of their new positions.

“Some candidates who campaigned in the last election to remove subsidy are now reversing themselves without even regretting their earlier display of ignorance and lack of compassion for the people.”

Hashim specifically criticised Atiku for changing his position without acknowledging his previous advocacy for subsidy removal.

“Atiku’s recant on subsidy removal without an apology is dishonesty. If you change your position because circumstances or evidence have changed, tell Nigerians why you changed. There is nothing wrong with changing your mind. What is wrong is pretending that you never held the position in the first place.”

He said Atiku, President Bola Ahmed Tinubu and Peter Obi all campaigned on subsidy removal during the 2023 presidential election, while he, Omoyele Sowore and Prince Adewole Adebayo opposed the policy.

Hashim argued that Atiku’s position on subsidy removal predates the Tinubu administration, describing the former vice president as one of the earliest major advocates of subsidy removal and wholesale privatisation during Nigeria’s Fourth Republic.

“The truth of the matter is that Atiku, before Tinubu, on the National political scene, has been the father of the idea of subsidy removal and wholesale privatization in this republic, he and his so-called economic team.

We combatted them vigorously during the early period of the Obasanjo government.”

‘We opposed subsidy removal when it was politically inconvenient’

Hashim recalled that in 1999, during the administration of former President Olusegun Obasanjo, when Atiku served as Vice President and headed the government’s economic team, the administration increased petroleum product prices and removed subsidy.

He said he and other PDP officials publicly opposed the decision.

According to him, Alhaji Iro Dan Musa, then PDP Deputy National Chairman; Harry Marshall, National Vice Chairman, South South; Abubakar Magaji, National Vice Chairman, North Central; Emmanuel Ibeshi, National Publicity Secretary; and himself, then Deputy National Publicity Secretary, jointly addressed a press conference condemning the increase in petroleum prices and subsidy removal.

Hashim added that the National Assembly also passed resolutions against the policy, after which the executive reversed its decision.

“We opposed subsidy removal when it was politically inconvenient to do so. We did not suddenly discover the suffering of Nigerians because another election is approaching.”

He said the historical record demonstrated that his opposition to subsidy removal was not an electoral strategy.

Hashim proposes targeted subsidy system. Hashim said the debate should move beyond the simplistic argument that every subsidy is wasteful and instead focus on designing a transparent and sustainable system that protects citizens and productive economic activity.

He argued that subsidy can be deployed strategically to reduce production costs, protect purchasing power, support industrial activity and prevent sudden economic shocks. He argued there is subsidy in America and Europe, only ignorant and wicked people make blanket argument against subsidy"

“Our position is simple: restore subsidy on petroleum products and other strategic products where necessary, but do it intelligently. Subsidy should be targeted at protecting the Nigerian economy and Nigerian people, not at enriching intermediaries.”

He proposed that any future subsidy regime should be built around targeting, transparency, measurable economic outcomes and strict accountability, rather than open-ended payments to importers or politically connected intermediaries.

According to him, "our own government would identify strategic products and sectors where price shocks have economic wide consequences, establish clear eligibility criteria, publish the fiscal cost and beneficiaries, and periodically assess whether the intervention is delivering measurable economic benefits."

He also assured that stronger domestic production would be an essential component of a sustainable subsidy policy.

“The objective would be to use subsidy as a bridge to greater domestic productive capacity not as a permanent excuse for dependence on imports.”

Hashim also criticised sections of the media for failing to sufficiently scrutinise changing political positions.

He alleged that politicians with greater access to media platforms could appropriate ideas previously advanced by less powerful political actors and subsequently present them as their own.

“They lack originality and their fans in the media never take them to task.

Instead, they promote these corrupt and dishonest politicians as major candidates.”

He added that, “only God knows how many of our ideas they would pirate before the election and use their big megaphone to amplify.”

Hashim said the 2027 Presidential election should be defined by competing ideas and credible economic programs rather than political imitation.

“Nigeria needs originality, courage and compassion in leadership. We cannot continue recycling people because they have the biggest megaphone. We must begin to ask who said what first, who stood by the people when it was difficult, and who has a credible plan to rebuild the economy.”

He reaffirmed his commitment to an economic programme focused on affordable energy, Strategic market repositioning as a reliable supplier of energy to the world, protection of domestic productive capacity, industrialisation, job creation, stronger purchasing power and strategic government intervention in critical sectors.

“The Nigerian people are not laboratory animals for politicians to experiment on and then return to them during election season with a new script. We must learn from our mistakes, tell the truth about them and build a better economic future,” Hashim said.

Ybass001:
This is the kind of political engagement Nigeria needs, dialogue, collaboration, and a clear focus on building a better country rather than simply replacing one leader with another.

Video

As the campaign season kicks off, a New Nigeria Support Group has released a video promoting Dr Gbenga Hashim of Accord Party for President pic.twitter.com/dovw9Jo3l9

— Just Event Online Publication (@justeventsonlin) August 19, 2026

Image123:
What good thing have we used our own intelligence and influence for though?

The Foundation for Peace Professionals (PeacePro) has called for a comprehensive investigation into the foreign intelligence influence ecosystem in Nigeria, warning that the inquiry must go beyond formally funded civil society organisations and media houses to examine the wider networks through which foreign interests may influence Nigerians.

In a statement by its Executive Director, Abdulrazaq Hamzat, PeacePro said the focus should not be limited to who receives foreign resources, but should examine the relationships, access, information flows and influence that may accompany them.

“The question is not simply who funds these organisations or engages these individuals. The bigger question is who is influencing whom, through what channels, for what purpose and ultimately in whose interest?”

PeacePro said Nigerians do not necessarily have to knowingly cooperate with a foreign intelligence operation before becoming useful to it.

“A Nigerian can be completely unaware of an intelligence operation and still become useful to foreign strategic interests. What begins as research, advocacy, media engagement, fellowship, consultancy, conference participation, funding or a personal relationship may acquire strategic value beyond what the individual initially understands.”

The organisation therefore called for examination of the broader ecosystem, including funding arrangements, research partnerships, fellowships, consultancies, sponsored campaigns, media relationships, digital influence networks, strategic communications and access to sensitive information.

PeacePro, however, cautioned against equating foreign engagement with espionage.

“Foreign funding is not automatically proof of espionage. But neither should the language of development assistance make Nigerians incapable of asking whether strategic interests accompany foreign resources.”

It said scrutiny must be universal.

“If Nigeria is serious about sovereignty, nobody should be above scrutiny, not government, not civil society, not the media, not influencers, not political actors and not foreign partners.”

PeacePro said the investigation should not end with identifying possible influence networks. It should lead to a national counter intelligence awareness framework that equips Nigerians to recognise potential manipulation, recruitment and exploitation.

The organisation proposed structured awareness programmes for journalists, academics, researchers, influencers, civil society actors, political actors and other professionals who regularly interact with foreign institutions.

Such programmes, it said, should help citizens recognise potential warning signs, including unusual approaches for sensitive information, attempts to cultivate privileged relationships, unexplained financial or logistical support, requests for confidential information and efforts to influence public opinion or policy through concealed interests.

“A Nigerian does not have to know that an intelligence operation exists before becoming useful to it. An informed citizenry is one of the strongest protections against manipulation.”

PeacePro urged government to establish lawful and confidential channels through which citizens who suspect they are being approached or exploited by foreign interests can seek guidance without automatically being treated as suspects.

Hamzat said Nigeria must move beyond asking how foreign intelligence might use Nigerians and develop the capacity to understand foreign strategic interests, protect sensitive national information and negotiate international relationships from a position of knowledge and confidence.

PeacePro concluded that, “the strongest counter intelligence system is not one that merely watches Nigerians. It is one that makes Nigerians difficult to manipulate.”

igienepo:
The truth of the matter is that, to defeat the present administration, there must be an intentional joint force, opposition parties must recognise the fact that coming together is the best and only way to defeat this present government.

abbasajao:
Why didn't them mention Elrufai?

The presidential candidates of the Accord Party, African Action Congress (AAC) and Social Democratic Party (SDP), namely Gbenga Olawepo-Hashim, Omoyele Sowore and Adewole Adebayo, have demanded the immediate release of Nnamdi Kanu and Bichia Maisango.

The three opposition candidates made the demand after a meeting in Port Harcourt, Rivers State, during the weekend, where they discussed Nigeria’s democracy, economy and security.

They called for an immediate review of cases involving Nigerians imprisoned over political expression, self-determination advocacy or the peaceful exercise of constitutionally protected rights.

They specifically demanded the release of Kanu, whose agitation has centred on the political rights and aspirations of the Igbo people, and Maisango, whom they described as an advocate of Hausa Zallah cultural rights.

The three leaders also called for an end to what they described as the legal and political persecution of Sowore over his political activities.

They, however, stressed that their position did not necessarily constitute an endorsement of the views or methods of the individuals concerned.

Bichia Maisango was arrested by DSS after NSA, Nuhu Ribadu wrote petition against him over his Hausa cultural advocacy.

Nnamdi Kanu was convicted over separatist agitation for Biafra.

The presidential candidates of the Accord Party, African Action Congress (AAC) and Social Democratic Party (SDP) have resolved to work together towards a common democratic force ahead of the 2027 presidential election, in what could become a significant realignment of Nigeria’s opposition politics.

The three candidates, Dr. Gbenga Olawepo-Hashim of Accord, Mr. Omoyele Sowore of AAC and Prince Adewole Adebayo of SDP, reached the resolution after a meeting in Port Harcourt, where they deliberated on Nigeria’s democracy, economy and security during the weekend.

They expressed concern over the concentration of political power, weakening of democratic institutions and shrinking space for genuine political competition, warning that Nigeria risks moving from competitive multi-party democracy towards what they described as “a coronation disguised as an election.”

The leaders consequently resolved to align their political forces towards presenting Nigerians with a joint democratic alternative in 2027.

The proposed alliance will seek to mobilise workers, youths, women, professionals, entrepreneurs, civil society organisations and Nigerians across ethnic, religious, regional and political divides.

Further consultations, they said, would determine the structure, modalities and presidential candidate of the proposed alliance.

“The larger national interest must take precedence over individual political ambitions,” they declared.

The three presidential candidates demanded an immediate review of cases involving Nigerians detained or imprisoned over political expression, self-determination advocacy or the peaceful exercise of constitutionally protected rights.

They specifically called for the immediate release of Mazi Nnamdi Kanu, whose agitation has centred on the political rights and aspirations of the Igbo people, and Bichia Maisango, whom they identified as an advocate of Hausa Zallah cultural rights.

They also called for an end to what they described as the legal and political persecution of Omoyele Sowore over his political activities.

The leaders stressed that their position did not necessarily amount to an endorsement of the views or methods of the individuals concerned.

“Democratic societies must accommodate dissent and peaceful disagreement,” they said.

The three candidates called on the international community, democratic governments, regional institutions and international democracy and human-rights organisations to closely monitor Nigeria’s democratic trajectory.

They expressed concern over alleged attempts by individuals within the security architecture, electoral institutions, judiciary, legislature and executive to weaken opposition parties, manipulate public institutions and frustrate genuine political competition.

While rejecting foreign interference in Nigeria’s sovereign affairs, they called for accountability where individuals abuse public office or institutional authority to undermine constitutional democracy.

They urged international partners to document credible evidence of democratic reversals and consider targeted sanctions, including visa restrictions and other lawful measures, against individuals credibly established to have participated in such activities.

“Nigeria’s multi-party democracy must be preserved. No individual, political party, security agency, electoral official or institution is bigger than the Nigerian Constitution,” they declared.

The leaders also criticised the economic policies of the President Bola Ahmed Tinubu administration, particularly fuel subsidy removal and currency devaluation, which they said had contributed to rising living costs, declining purchasing power, unemployment and widespread economic hardship.

They called for urgent economic reforms, including substantial salary reviews towards a genuine living wage, stronger domestic production, investment promotion, job creation and measures to reduce inflation.

On insecurity, they demanded a proactive national security strategy built around intelligence, technology, adequately equipped security forces, community cooperation, economic opportunity and effective prosecution.

They rejected what they described as appeasement, selective enforcement and political complicity that enables violent groups to operate with impunity.

The three candidates pledged to defend Nigeria’s multi-party system and reject political monopolisation.

“A democracy without meaningful opposition is merely an electoral ritual,” they said, affirming their commitment to the constitutional right of Nigerians to form political parties, contest elections, disagree with government and offer alternative programmes without intimidation.

They also declared that national unity must be founded on justice and inclusion.

“Unity cannot be built by suppressing differences; it must be built by guaranteeing justice within diversity,” they said.

The proposed alliance, according to the leaders, is not merely an anti-incumbency arrangement but an attempt to develop a credible governing alternative based on democratic accountability, economic justice, security, institutional reform, social inclusion and national development.

They resolved to continue consultations with other presidential candidates, political parties, organised labour, civil society organisations, professional associations, youth and women’s groups, traditional institutions and religious bodies.

They called on Nigerians committed to democracy and accountable government to join the process.

“The 2027 election must be a genuine contest over Nigeria’s future, rather than a predetermined political coronation. Nigeria belongs to its people. Political power belongs to the people. The ballot belongs to the people.”

They concluded by urging Nigerians to defend the country’s Constitution and multi-party democracy peacefully.

“The time has come for Nigerians to rise, not with violence, but with courage; not with hatred, but with organisation; not against Nigeria, but in defence of Nigeria.”

Meanwhile, the Movement for Democratic Renewal (MDR) for the South-South and South-East zones was launched on Saturday in Port Harcourt, Rivers State, with speakers calling for unity of purpose to rescue the country.

The MDR is Co-Chaired by Dr Gbenga Hashim and the NLC President Comrade Joe Ajaero .Leaders of NLC
gathered with leaders of industrial unions at the NLC Labour House, Port Harcourt, to confront what they described as a fundamental national question, How do we rescue Nigeria’s democracy and restore hope to millions of our people?

The Co-Chairman of the movement, Dr. Gbenga Hashim, said Nigeria had always been a great country but that recent leaders had conspired to make it small.

According to him, “the prosperity in Nigeria continued until 1976 and Nigeria was a lender, not a borrowing nation.”

“Today, industrialisation has gone out of Nigeria"

“But we must rescue our democracy. Any democracy that abandons the welfare of the workers is a mirage.

Also speaking, Prince Adebayo Adewole, Presidential Candidate of the Social Democratic Party (SDP), urged Nigerians to reject intimidation and political pressure.

“All workers must vote, because our problem is that our leaders today see themselves as colonial masters in black skin.”

He stressed the importance of ideological unity, saying, “Unity is important. For people, we can only be united by ideology. You must raise cadres not for protest alone, but for government.”

Representing Comrade Joe Ajaero at the event, Comrade Denja Yakub said Nigerians could not depend on others to rescue the country.

“Nobody will fight for us. We need to fight for ourselves.”

He added that “there will never be industry for us if we don't have worker friendly people in power.”

The NLC Chairmen of Rivers, Akwa Ibom, Cross River, Bayelsa, Edo, Enugu, Anambra, Imo, Abia and Ebonyi attended the event, alongside leaders representing industrial unions, civil society and faith based organisations.

Fujiyama:
People who skimmed the headlines can be forgiven for thinking this was an 'Alexreports' publicity operation. Unfortunately, the name 'Peacepro' also fits the template, sort of.

But on reading the article from start to finish, there are clearly weighty issues being discussed. Quite strange that this piece wasn't covered by conventional financial press.

Presidential candidate of the Accord Party, Dr. Gbenga Olawepo-Hashim, has mobilised the party’s structures across Osun State ahead of Saturday’s governorship election, urging party leaders, candidates and supporters across all divides to close ranks and work collectively to deliver Accord at the polls.

The mobilisation took place amid the ongoing political controversy surrounding the Accord Party in Osun State and competing claims over the party’s political direction.

Addressing party stakeholders drawn from the 31 local government areas of the state at a meeting in Osogbo on Thursday, Hashim, who was represented by the National Coordinator of the Gbenga Hashim Solidarity Movement (GHSM) and South-West Coordinator, Alhaji Abass Olaniyi, described Accord as “one family”, urging members to put internal disagreements behind them and concentrate on strengthening the party’s organisation ahead of the election.

“Accord is one family. We may have disagreements, but our shared commitment to the party and to democratic renewal must remain stronger than our differences.”

Hashim called on Accord leaders across the state to activate their respective structures and ensure that the party maintains a strong presence across wards and polling units.

He said the immediate priority was to preserve the integrity of the Accord structure, maintain unity among members and ensure that supporters participate peacefully and confidently in the electoral process.

The Accord presidential candidate urged party members in Osun not to lose faith in the party, insisting that Accord’s future must be determined by the commitment of its members and the strength of its democratic structures.

Hashim also urged the Osun structures to remain disciplined, peaceful and focused on the election, warning that political disagreements should not be allowed to weaken the party’s organisational foundation.

“This is the time to unite. This is the time to mobilise. This is the time to demonstrate that Accord is bigger than any individual. We are one family, and we must act as one family,” he said.

He further urged Accord supporters to resist provocation and intimidation, insisting that the party’s response to political pressure must be peaceful mobilisation and democratic participation.

“Nobody should be intimidated. Nobody should be provoked into violence. Our strength is our organisation, our people and our commitment to democracy,” Hashim said.

He called on party leaders, candidates and supporters across Osun to turn out peacefully on August 15 and participate fully in the electoral process.

“Let us close ranks, mobilise our people and protect the Accord family. Whatever our differences may have been, today we have one responsibility, which is to deliver Accord at the poll on August 15,” he added.

The meeting also provided a visible show of support for the Hashim project, as the hall was filled with participants wearing face caps bearing the inscription “Gbenga Hashim for Imole.”

Among those present were Hon. Wumi Ajibade Fadaka from Ife East, Hon. Adewuyi Adediji from Egbedore Local Government, Hon. Mrs. Adelakun Khadijah from Ede South Local Government and Elder Ponle, among other party stakeholders and supporters.

The mobilisation underscores Hashim’s call for Accord members to set aside internal differences, strengthen the party’s grassroots structures and approach the election as a united political family.

With the election only days away, the meeting ended with a renewed emphasis on unity, grassroots mobilisation, peaceful participation and the protection of Accord’s presence across Osun’s wards and polling units.

The Executive Director of the Foundation for Peace Professionals (PeacePro) and Multidimensional Energy Economics professional, Abdulrazaq Hamzat, has called on the Central Bank of Nigeria (CBN) to urgently examine Nigeria’s potential acquisition of shareholding membership in the Bank for International Settlements (BIS), saying the move could generate up to $20 billion in cumulative economic value for Nigeria over 10 years.

Hamzat, who initiated the proposal as part of PeacePro's advocacy for stronger economic and financial institutions in Nigeria, said the estimated value could arise from improved reserve management, foreign exchange risk management, financial sector resilience, monetary policy capacity and greater institutional influence.

He clarified that the $20 billion is not money that would be paid directly to Nigeria by the BIS, but an estimate of the potential economic value that could result from better management of Nigeria’s financial assets and monetary system.

“The BIS will not give Nigeria $20 billion. That is not the argument. The argument is that Nigeria could potentially create up to $20 billion in economic value over a decade by improving the way we manage the assets, currency and financial system we already have,” Hamzat said.

The BIS is owned by 63 central banks and monetary authorities whose economies collectively account for about 95 percent of global GDP. Its shareholder members have voting and representation rights at General Meetings.

Hamzat argued that Nigeria should evaluate BIS shareholding beyond the immediate cost of acquiring shares or the dividends that may accrue.

“If we reduce BIS membership to the question of dividend, we have completely missed the point. The real value is institutional. It is about what happens to Nigeria’s reserves, currency and financial system when our central bank is more deeply integrated into the world’s leading network of central banks.”

Hamzat identified reserve management as one of the most immediate areas where Nigeria could derive economic value.

He said even marginal improvements in risk-adjusted returns, liquidity management and asset allocation could produce significant savings and additional value when applied to Nigeria’s large external reserves.

“When you are managing tens of billions of dollars in reserves, a small improvement in risk-adjusted returns, liquidity management or asset allocation can be worth hundreds of millions of dollars.”

He stressed that the objective should remain the traditional reserve-management priorities of safety, liquidity and return, rather than excessive risk-taking in pursuit of higher returns.

Hamzat also identified foreign exchange management as a major area of potential benefit, given Nigeria’s exposure to global interest rates, commodity prices, capital flows and movements in the dollar.

“The naira does not operate in isolation. Every major movement in the dollar, oil prices, US interest rates or international capital flows eventually affects Nigeria. We need a central bank that is institutionally equipped to anticipate and manage those shocks.”

According to Hamzat, deeper engagement with the BIS could also strengthen Nigeria’s financial-sector resilience.

The BIS supports major global financial standard-setting mechanisms, including the Basel Committee on Banking Supervision.

“The cheapest financial crisis is the one prevented. When a banking or currency crisis occurs, the losses spread to businesses, households, government revenue, employment, investment and economic growth.”

He said improved financial stability monitoring, risk management and crisis preparedness could therefore generate significant economic value even without producing direct government revenue.

Hamzat also linked stronger central-bank capacity to monetary policy and economic planning.

“Monetary policy is not just about interest rates. It affects investment, credit, production, employment, exchange rates and ultimately government revenue. Anything that improves the quality of monetary policy decisions can have an economy wide effect.”

He said Nigeria could benefit from deeper exposure to international central bank cooperation on inflation, financial stability, capital flows, payment systems and digital finance.

He also pointed to the BIS’s growing work on the future of cross-border payments, including Project Agorá, which is examining the use of tokenised central-bank reserves and commercial-bank deposits in wholesale cross-border transactions.

Hamzat stressed that the $20 billion estimate should be subjected to rigorous and independent economic modelling before being treated as a policy projection.

“If the independent assessment produces $20 billion, excellent. If it produces $10 billion, it is still potentially a compelling investment. If it produces $5 billion, the question remains whether the strategic benefits justify the cost. What Nigeria cannot afford to do is dismiss the opportunity without studying it.”

He proposed the establishment of a CBN-led Nigeria-BIS Strategic Assessment Team comprising experts in monetary economics, international finance, reserve management, banking regulation, foreign exchange markets, financial technology and economic planning.

The team, he said, should assess the cost of membership against potential gains in reserve management, financial stability, monetary policy, FX management, institutional influence and regional financial integration.

Hamzat said Nigeria’s potential BIS membership could also have implications for the wider West African region.

Although the BIS has 63 shareholder central banks and monetary authorities, no West African central bank is currently among its shareholders. African shareholder members include Algeria, Morocco and South Africa.

“West Africa has hundreds of millions of people and a major regional economy, yet the region has no shareholder seat at the BIS. That should concern us.”

He urged the CBN to engage regional institutions, including BCEAO, WAMA, WAMI and WAIFEM, in exploring how Nigeria’s potential membership could strengthen West African representation in global monetary governance.

“We should not only be the biggest economy in West Africa; we should also be one of the countries shaping the financial architecture of the region.”

Hamzat said Nigeria’s economic size and systemic importance provide an opportunity to translate economic weight into greater institutional influence.

“Nigeria cannot continue complaining about the rules of global finance while remaining absent from important rooms where the future of global finance is discussed.”

He said developments in digital finance, tokenisation, cross-border payments and emerging systemic risks make stronger international central bank cooperation increasingly important.

“The world is moving rapidly towards a new monetary and financial architecture. Nigeria cannot afford to watch these developments from the gallery.”

Hamzat urged CBN Governor Olayemi Cardoso to initiate formal consultations with the BIS and commission a comprehensive cost-benefit assessment of potential Nigerian shareholding.

He said the findings should be presented to the Federal Government and other relevant economic-policy institutions.

“Economic stability is built before a crisis, not during one. Nigeria should invest in the institutions that help us anticipate shocks, manage them and recover faster.”

Hamzat concluded that the proposal deserves serious consideration as part of a broader strategy to strengthen Nigeria’s monetary institutions and increase its influence in global financial governance.

“The $20 billion is a proposition that deserves to be tested, not dismissed. Nigeria needs stronger monetary institutions. West Africa needs a voice. And the CBN should seriously consider whether BIS shareholding can become part of the strategy for building a more stable, resilient and globally competitive Nigerian economy.”

Presidential candidate of the Accord Party, Dr. Gbenga Olawepo-Hashim, has accused President Bola Ahmed Tinubu of waging "a war against the people" of Osun State, in the countdown to the governorship election.

Olawepo-Hashim alleged that recent actions of the Federal Government crossed the line from politics into what he described as ‘punitive state oppression.’

In a strongly-worded statement he personally issued over the weekend, Hashim, who is also Co-Chairman of the Movement for Democratic Renewal (MDR), alleged that withholding of Osun state’s local government allocations, freezing of state government accounts and the provision of security protection for APC supporters allegedly involved in attacks on opposition members formed part of a coordinated attempt to undermine democracy and punish the people of Osun for political reasons.

While acknowledging reports that the restrictions placed on the state's accounts by the EFCC had been lifted following the president’s directive, Hashim maintained that the measures should never have been imposed in the first place.

He described those actions as abuse of federal power; inconsistent with constitutional democracy.

Hashim said: This is not politics. It is the punitive conduct of a Federal colonial state treating the people of Osun as vassals."

He further noted that democracy cannot survive where federal institutions are deployed as political weapons against elected state governments, insisting that the sovereignty of the people must never be subordinated to partisan interests.

Hashim also issued a stern warning to public officials whom he alleged participated in implementing the measures, saying they would bear personal responsibility for any unlawful actions, irrespective of how the political dispute ultimately ends.

"However this ends, all state officials involved in this political brigandage must note that they will be held individually accountable for their actions," he declared.

The presidential candidate urged Nigerians and democratic institutions to resist what he described as the weaponisation of state power, maintaining that no democracy can flourish where constitutional powers are allegedly abused to intimidate political opponents and undermine the will of the electorate.

With the Osun State governorship election approaching, Hashim called on president Tinubu to ensure that every remaining obstacle to a free, peaceful and credible poll is removed.

"It is not too late to apply the brakes. President Tinubu should immediately instruct all security agencies and federal officials to remain neutral and allow the people of Osun to make their choices in an atmosphere devoid of intimidation. The world is watching," he added.

Hashim concluded by urging the people of Osun to reject intimidation and participate peacefully in the August 15, 2026 governorship election.

"Stand your ground. Refuse to be cowed into submission. We are still a democracy and a Republic. Come out peacefully and exercise your constitutional right to vote," he urged the electorate.

The Foundation for Peace Professionals (PeacePro) has called on the Federal Government to adopt a 2year national plan to phase out long term Internally Displaced Persons (IDP) camps and replace them with purpose built communities where displaced Nigerians can rebuild their lives with dignity, security and economic opportunities.

PeacePro said Nigeria's displacement crisis, triggered largely by the Boko Haram insurgency since 2009, has persisted for more than 15 years and can no longer be treated as a temporary humanitarian emergency.

PeacePro warned that the country is gradually creating a lost generation of children and young people who have spent their formative years in camps instead of classrooms, workplaces and thriving communities.

In a statement signed by its Executive Director, Abdulrazaq Hamzat, the organisation said the country's low life expectancy makes the prolonged confinement of millions of citizens in IDP camps even more alarming.

According to the World Bank, Nigeria's life expectancy at birth is approximately 55 years, among the lowest globally.

Hamzat said this means that Nigerians who have spent between 10 and 15 years in displacement have already lost between one fifth and more than one quarter of their expected lifetime to conflict and humanitarian dependence.

"An IDP camp was never designed to become a permanent home. It was created as an emergency response. When people spend 10 to 15 years in camps in a country where life expectancy is only about 55 years, we are asking them to sacrifice a significant part of their lives waiting for a future that may never come."

PeacePro noted that many children born during the insurgency have never experienced normal community life, quality education or stable economic opportunities.

"Some children have known nothing but displacement since birth.

If we fail to act now, Nigeria will inherit a generation whose memories are defined by conflict instead of opportunity."

Hamzat proposed that the Federal Government establish new planned communities rather than expand long term camp management.

According to PeacePro, the proposed communities should include affordable housing, schools, hospitals, electricity, potable water, markets, agricultural zones, industrial clusters, digital infrastructure and employment opportunities that allow displaced persons to become productive citizens instead of long term beneficiaries of humanitarian assistance.

PeacePro argued that while voluntary return to ancestral communities should remain an option where security and livelihoods have been restored, many conflict affected rural communities lacked basic infrastructure even before the insurgency.

"Returning people to communities without roads, schools, hospitals, electricity and sustainable economic opportunities may simply recreate the conditions that existed before displacement.

Nigeria should see this tragedy as an opportunity to build stronger, smarter and more economically viable communities."

PeacePro said concentrating infrastructure and services in new communities would make public investment more sustainable while improving access to education, healthcare, employment and social services.

PeacePro further argued that continuing to feed and manage millions of displaced Nigerians indefinitely is neither economically sustainable nor socially productive.

"Humanitarian assistance saves lives, but it cannot become a permanent development policy. Every displaced farmer who returns to production strengthens food security. Every child who returns to school strengthens Nigeria's human capital.

Every entrepreneur empowered strengthens the national economy."

PeacePro maintained that the success of Nigeria's war against terrorism should not only be measured by terrorists eliminated or territories reclaimed, but by the number of lives rebuilt and futures restored.

PeacePro therefore urged the Federal and state Governments to launch a 2Year National IDP Transformation Programme to gradually close long term camps through voluntary relocation into newly developed communities supported by housing, infrastructure, skills acquisition centers, education, healthcare and sustainable livelihoods.

"The greatest victory over terrorism will not be won on the battlefield alone. It will be won when displaced families regain their dignity, children reclaim their future and communities destroyed by violence become centres of prosperity. Nigeria must stop managing displacement and start rebuilding lives."

Olatundex22:
😆😆😆 this one don collect him B in peace because he knew president ticket is a joke, it’s just to put face in posters. Well i will not blame you
Politic is the game of calculation not necessary you win just make sure you gain 👍🏻👍🏻 that’s how to play

obembet:
Gbenga is right. It’s surprising to see a Accord Party governor supporting an APC presidential candidate this doesn’t sit well at all. It reminds me of what Peter Obi did in Rivers State, where he urged Wike to secure the state for him while sidelining his own party’s governorship candidate. That kind of action reflects desperation and a lack of commitment to party loyalty it comes across as selfish.

That said, we must all do everything possible to ensure APC does not return to power in Osun.

Osun says NO to APC.

Samuels90:
Good point. Adeleke is wrong to support someone else, aside Accord. It is matured with the way the Accord Presidential guy is handling the issue.

queenamough:
Strong message to the people of Osun. One man's action shouldn't derail the party's hard work. Accord Party members should remain focused and united.

The Presidential Candidate of the Accord Party, Dr. Gbenga Olawepo-Hashim, has called on Accord Party stakeholders and supporters in Osun State to close ranks, remain loyal to the party and mobilise massively for victory in the forthcoming governorship election.

Dr. Hashim specifically noted that the actions of a few individuals must not derail the party's mission.

Dr. Hashim made the call after receiving the report of a seven-member committee of Accord Party stakeholders in Osun state, which consulted widely and briefed him on recent political developments and the state of the party.

He urged members to reject anti-party activities and stressed that the future of Accord in Osun would be determined by the commitment and loyalty of its members, not by the actions of any individual.

Describing Governor Ademola Adeleke's recent actions as a betrayal of the Accord Party, Hashim said he would not respond by undermining the Party's electoral prospects in the State.

"Governor Ademola Adeleke has obviously acted as a disloyal Party man, but I will not respond by engaging in anti-party activities in Osun. Two wrongs do not make a right,” he insisted.

Hashim noted that his actions are guided by principle, faith, democratic ethos and values rather than bitterness or revenge.

"I am a Christian. The Bible teaches that vengeance belongs to the Lord. I have no reason to pursue political revenge,” he said.

He urged Accord members and supporters across State not to lose faith in the Party “because of the actions of a few individuals,” emphasising that the Party's ideals, values and future are far greater than any single personality.

Hashim also suggested that the Adeleke family's recent political decisions may have been influenced by circumstances not fully known to the public.

"The Adeleke family is under pressure that many people do not understand. I understand some of those realities and that is why I have chosen to exercise restraint in my political response. Sometimes politicians take decisions that appear illogical.

“Supporting President Bola Ahmed Tinubu despite the political pressure the APC has mounted against them is one such example. I am not angry with them; I pity them."

Reaffirming his commitment to strengthening the Accord Party in Osun and across Nigeria, Hashim called on Party faithfuls to intensify grassroots mobilisation and remain focused on securing victory at the polls.

He expressed profound appreciation to Accord Party members, elders and stakeholders in Osun State who have remained steadfast in advancing the party's ideals and supporting its Presidential Project despite prevailing political pressures.

"I sincerely appreciate every Accord member, elder and stakeholder in Osun state, who has stood firmly with our Party and our Presidential agenda.

“Your loyalty, sacrifice and courage will never be forgotten or taken for granted."

Hashim equally assured members that their sacrifices would not be in vain, stressing that the future of the Accord Party rests in the hands of committed and principled members.

"The Accord Party belongs to its members. Its future would be determined by the loyalty, commitment and hard work of those who believe in its ideals. I urge every supporter in Osun to remain focused, united and mobilized for victory."

Dr Hashim called on President Tinubu to provide a level-playing field in the upcoming election, because, according to him, "Osun State election is the major offseason election before 2027.

“What happens would tell every one what INEC and Nigeria security forces plan to do in 2027. The world is watching.”

Supporters of the Accord Presidential Candidate had been at loggerheads with Governor of Osun State over his controversial repeated endorsement of President Tinubu, a Candidate of a rival party.

CodeTemplar:
What is this roadside outfit smoking?
From the time of freedon to 500 years after conquest, there is not even $10,000m in the region.

The Foundation for Peace Professionals (PeacePro) has disclosed that Nigeria has suffered more than US$200 billion in undeclared economic, social and developmental losses since the outbreak of the Boko Haram insurgency in 2009, urging the Federal Government to immediately undertake a comprehensive national audit of the hidden costs of terrorism.

In a statement issued on Friday by its Executive Director, Abdulrazaq Hamzat, PeacePro said Nigeria's counter-terrorism efforts have been measured almost exclusively by the number of terrorists neutralised, weapons recovered and territories reclaimed, while the country's most devastating losses have remained undocumented and largely ignored.

According to PeacePro, the over $200 billion estimate is a conservative policy assessment based on more than fifteen years of cumulative losses arising from the destruction of public infrastructure, abandoned agricultural production, collapsed businesses, disrupted supply chains, population displacement, reduced investments, interrupted education, environmental degradation, humanitarian expenditure and lost economic opportunities.

Hamzat explained that its estimate was developed through an aggregation of available data from government institutions, international financial organisations, humanitarian agencies, academic studies and independent policy analysis.

PeacePro noted that while international assessments have estimated the direct economic impact of the North-East conflict at well above US$100 billion, Nigeria has never undertaken a comprehensive valuation of indirect national losses, including foregone investments, productivity losses, human capital erosion and long term opportunity costs. When these hidden costs are incorporated over more than fifteen years of conflict, PeacePro said, the cumulative national loss exceeds US$200 billion.

"Nigeria has counted the number of terrorists killed, but it has never counted the true value of what terrorism has taken away from the nation," Hamzat said.

"Every abandoned farm is an economic casualty. Every destroyed school is a development casualty. Every displaced family is a productivity casualty. Every investor discouraged by insecurity represents a lost opportunity for national growth. These are the hidden casualties of terrorism."

PeacePro warned that the country's greatest losses are no longer limited to the battlefield but are increasingly reflected in weakened economic growth, declining investor confidence, food insecurity, rising youth unemployment, psychological trauma, environmental degradation and the erosion of national cohesion.

PeacePro maintained that without a deliberate national recovery strategy, Nigeria risks achieving military victories while suffering long term economic and social decline.

To reverse the trend, PeacePro called for the immediate establishment of a National Recovery and Reconstruction Commission to coordinate the rebuilding of conflict affected communities and implement a National Post Terrorism Transformation Framework.

The proposed framework includes the reconstruction of critical infrastructure, revitalisation of agriculture and local industries, rehabilitation and economic reintegration of internally displaced persons, nationwide trauma healing programmes, expanded youth employment initiatives, environmental restoration, intelligence led security reforms and community based reconciliation programmes.

PeacePro also renewed its proposal to transform Sambisa Forest into Africa's Peace City, an international hub for peacebuilding, conflict resolution, security innovation, post-conflict research and sustainable economic development.

Hamzat argued that converting one of the world's most infamous theatres of terrorism into a global symbol of peace would demonstrate Nigeria's resilience and redefine its post-conflict recovery.

PeacePro urged the Federal Government, the National Assembly, state governments, development partners and the private sector to move beyond a security centred response by embracing a comprehensive national transformation agenda.

"The final victory over terrorism will not be measured by the number of insurgents defeated," Hamzat concluded. "It will be measured by the number of communities rebuilt, children returned to school, farms restored to production, businesses reopened, displaced families resettled and hope restored to millions of Nigerians."

press9jatv:
he doesn't believe in himself. He's a goner. No can vote for a deceiver that built substandard roads and bridges. He's a goner

Nobellight77:
We are not looking for party that will rule Nigeria. We are only looking for good people to do so. Any good person who truly loves the country and people from any party is welcome.

timilehin007:
This is not even pipe dream worthy, it's straw dream 😂😂😂

TheStoriesOfMan:
If he gets 10k votes in Anambra State, I'll vote the party in 2031 elections.

TheStoriesOfMan:
Accord party winning is like Cape Verde attempting to win World Cup.

Accord party to win 2027 presidential election should be 13.99 or 2365/1.

press9jatv:
Adeleke's defeat is imminent. He's a goner