This is written in response to an article written by Mr. Erasmus Ikhide under the title ‘Edo: the return of the old order’, which was published at page 24 of The Nation of Friday, 1st April 2016.
Contrary to the views expressed by Mr. Ikhide, Godwin Obaseki is one of the few governorship aspirants in this time and space who understand the basics of national configuration as it relates to constitutionally settled matters. Godwin Obaseki has a thorough knowledge of state-craft to enable him cope with the challenges of good governance in a democratic society. The writer does not want to join issues with Mr. Ikhide on the History of the Benin people. However, it should be noted that Mr. Obaseki is an illustrious Benin man with thorough understanding of the history of his people. He possesses a dynamic exposition on the Benin historical facts.
Mr. Ikhide quoted Mr. Obaseki’s statement in an interview as follows: “My area of specialization is (capitalism). I was born into capitalist system and it is also the system of governance of Edo State people right from time immemorial and I don’t know when socialism entered the system”. Mr. Ikhide then asserted that Edo electorate are waiting patiently for him to come clean on how, when and where was the capitalist system he was born into’. Everybody knows that Nigeria is a capitalist society. Capitalism in this part of the world started even before colonialism. Wikipedia defines capitalism as an economic system based on private ownership of the means of production and their operation for profit. Characteristics of capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system, and competitive markets. In capitalism, decision-making and investment is determined by the owners of the factors of production in financial and capital markets, and prices and the distribution of goods are mainly determined by competition in the market. Capitalism is the social system which now exists in all countries of the world. Under this system, the means for producing and distributing goods are owned by a small minority of people. The majority of people must sell their ability to work in return for a wage or salary. The working class members are paid to produce goods and services which are then sold for a profit. Capitalism has existed under many forms of government, in many different times, places, and cultures.
According to Joseph Schumpeter, capitalism is the most successful economic system that has existed thus far. Capitalism, he observed, creates wealth through advancing continuously to ever higher levels of productivity and technological sophistication. Democratic socialists believe that both the economy and society should be run democratically to meet public needs, not to make profits for a few. To achieve a more just society, many structures of our government and economy must be radically transformed through greater economic and social democracy so that ordinary people can participate in the many decisions that affect our lives. Seen from the above, there is no doubt whatsoever, that Nigeria is a capitalist or free market economy. Therefore, Mr. Obaseki’s assertion that he was born into a capitalist system is perfectly true.
Moreover, Mr. Ikhide displayed inadequate understanding of Obaseki’s economic and national development theory. Mr. Ikhide quoted Mr. Obaseki thus: “but , in the mean-time, we also had the benefit of the experience of Comrade Oshiomhole on how to execute transactions, policies and projects even when the super structure of governance is broken down. So, we had to build roads, whether we had qualified engineers to help us to design roads in the Ministry of Works or not. We had to get our bills of quantity right for our schools and our government buildings; we had to procure the services of consultants … to do the mapping to determine what we needed to do before we build roads”. What Mr. Obaseki expressed is that the governor has laid effective foundation for the execution of transactions, policies and projects that will be built upon by subsequent administration under whatever circumstances or conditions. Mr. Obaseki never implied that “pieces of grand engineering edifices have taken place or health care delivery services have been achieved without doctors and nurses.” Mr. Obaseki, over the years, has asserted that Edo people should be certain that schools, hospitals and roads built presently would last for a long time. He intends to continue with the laudable achievements of the governor if he is nominated and elected. Mr. Obaseki, who is the head of Governer Adams Oshiomhole’s Economic Team, is aware that engineers, doctors and nurses have been employed by Governor Adams Oshiomhole’s administration.
This is the point at which Edo people have arrived at the zenith of proper management of resources. This is one of the few times in living memory that would-be successor to the governor’s seat is totally committed to the government in which he serves in his quest to continue with sustainable development in the state.
Mr. Obaseki’s electricity agenda is the best the writer has seen from a governorship candidate. According to him, “One thing that this government has started that the people will not see until two years time is electricity.
Government has encouraged people to come and generate electricity for Edo. As we speak, our investors have started building big electricity plants across the state that will generate about 450 megawatts each. The total electricity we consume in Edo is about 100 but these people are building a plant that will generate 450 each. So by the end of 2017, we will have enough electricity for Edo”. Since then, he has set out the details in his manifesto. He understands the vital role electricity plays in the industrialization process. There is no doubt that he will use his fundraising acumen to generate funds to support what the comrade governor has done. Presently, the state government is working on the number of megawatts that can sustain economic development in the state in concert with the federal government. What the state government envisages is continuity in this enterprise. The investors who will involve a huge amount of money are readily available to a focused leader. With stability in power generation, economic boom can be attained. With such economic boom, the wretchedness and poverty of the people will be replaced with the splendour and grandeur of the people. The next governor of Edo State will find an already existing and viable blueprint for education, health and agricultural sectors. This is what the continuity of the new order entails in a democratic society.
Mr. Obaseki currently serves as the Chairman of the Edo State Government Economic and Strategy Team (EST), a position he has held since March 17, 2009 for the public good. He has participated in several Committee activities in Edo State Government. They include Tax Assessment Review Committee for Edo State Internal Revenue Service (TARC), Committee on Micro, Small and Medium Enterprises (MSME), Committee on the Implementation of the Law Establishing the Edo State University of Science and Technology, Uzaire, Committee on Contributory Pension Scheme, Edo SEEFOR/DPO Steering Committee, Committee on the Report of the Audit of the Credentials of Teaching Staff in Public Schools in Edo State, Land Use Charge Committee, State Steering Committee on the European Union Assisted Niger-Delta Support Programme (NDSP) Component 3 (Development of Edo State Water & Sanitation Policy and Law.
As chairman of the Economic Team of Edo State Government, his achievements include: documentation of State Economic Development framework through Sectors’ Strategic Planning which is reviewed and updated on an ongoing basis; introduction and enculturation of retreats as a platform to ensure all parties engagement not only in planning and executing state development initiatives but also in monitoring and evaluation of outcomes; N25 Billion Infrastructure Development Bond from the Nigerian Capital Market in 2010; $225 Million Concessionary rates Development Loan from the World Bank with the 1st Tranche of $75 Million already accessed; successfully hosted Sector based Economic Summits and Policy Dialogue Series including the Power Round Table in 2010, 2011 Education Round Table and 2012 Agribusiness Round Table. The outcomes of the various summits in which he participated include the Azura-Edo IPP project with over $1 billion in FDI currently under development in Ihovbor, Uhunwode LGA and Education Reforms which have translated to significant improvement in educational infrastructure and student performance in WAEC and other Exams.
Moreover, following the 2012 Agribusiness Summit, the state has attracted investment in the Rubber Sub-sector for the development of the single largest Rubber Plantation project in Nigeria in Sokponba in Orhiomwon LGA under a privately developed and financed initiative. Also, a framework for local economic empowerment through the process of out-growers schemes is being finalised to attract funding into the development of key crops for which Edo State has natural endowment including Oil Palm, Rubber, Cassava, Cocoa, Rice and other grains.
Mr. Obaseki is familiar with fundraising for development. He has established track records in Investment Banking, Asset Management, Securities Trading and the Public Sector both internationally and locally. He started with Capital Trust Brokers Limited Lagos as a stockbroker where he excelled and subsequently worked with International Merchant Bank (an affiliate of First Chicago Bank). He worked in New York as a principal of Equatorial Finance Co, a Financial Advisory firm with a focus on Africa and providing Structured Trade Finance for African related transactions through credit, financial advisory and risk insurance. He founded Afrinvest West Africa Limited (formerly Securities Transactions & Trust Company Limited (SecTrust)) in 1995 as the pioneer Managing Director. The firm has since grown to become a leading Investment Banking and Investment Management firm in Nigeria.
Afrinvest has been ranked as a major Investment Research firm which is at the forefront of playing instrumental roles in the introduction of new financing products such as Eurobonds and Global Depository Receipts to Nigerian Companies. He is presently the Chairman of the Board of Directors of the firm which won the Best Asset Management Firm in Nigeria (2014) Award by the Wealth & Finance International Magazine Finance Awards. Afrinvest is one of the most trusted advisory firms in the domestic corporate finance market, pioneering major innovations and providing leadership in the Nigerian Securities market. The firm has advised on many landmark transactions including the first Eurobond Issue by a Sub-Saharan Africa Corporate (outside South Africa); the first ever simultaneous merger and tender offer transaction in Sub-Saharan Africa and the largest ever listing on the Nigerian Stock Exchange.
This is not the first time that Mr. Ikhide has unfairly condemned the bulwark of the economic team in Edo State. Writing in opinionnigeria.com on the 16th of January 2016 under the title “Edo 2016: Clowns Now In Search Of Crown”, Mr. Ikhide stated that “Seven plus years ago, Comrade Adams Oshiomhole became the governor of Edo State as a result of the degenerate and decadent state of affairs. His dynamic personality, the clarity of his mind, the catholicity of his ideas and his remarkable talents as an organiser and former union leader infused a new life and determination into the polity and the people’s hope to dream anew.” Later in the write-up, he asserted, “Now, a great deal of the electorate are in an irritable mood on the governor’s moves to truncate the ‘One man one vote’ mantras with his rumoured endorsement of Mr. Godwin Obaseki. The belief is that the less well-known Obaseki did not entertain governorship notion until Governor Oshiomhole drafted him into the race, thereby trusting his candidacy down of the APC party leadership and Edo people. There is the need for the governor to clear his own name.” Mr. Obaseki is well-known within and outside Edo State. He does not seek cheap publicity and relevance. He is in the governorship race because it is his constitutional right and he is willing to serve the people of Edo State. Mr. Ikhide should commend the comrade governor for involving Mr. Obaseki in the governance of Edo State. If Mr. Ikhide ever had confidence in the governor, this is the time he needs to use his talents to promote the course of democracy and development in Edo State.
The old order is dead and buried. Governor Oshiomhole is a personification of the new order in Edo State. Whoever he trusts enough to earn his endorsement is a product of the new order. Mr. Ikhide will be serving the interest of the old and discredited order if he continues with unprovoked attacks against Mr. Obaseki. The remnants of the old order are waiting to snatch victory from the progressives and whatever Mr. Ikhide uses to condemn Mr. Obaseki today is what the old order will eventually use to campaign against him and other aspirants tomorrow. Those who have interest in continuity and sustenance of the new order must desist from condemning the same order. Mr. Obaseki is tested and trusted. His invaluable experience endeared him to the comrade governor. To the satisfaction of the governor and the people of the state, he has fulfilled his mandate. Mr. Obaseki is and should be seen to be a continuity of the new and progressive order. The old order which was fought and decimated with the coming of Oshiomhole has remained dead and buried in its grave. Thecertainties of political emancipation, its heroic possibilities and dynamic optimism for a new order are being re-energised for the future. The Edo voters are being told not to look back to the old order but to continue with the new order that has been established in Edo State.
Sunday E. Edeko, Ph.D., an Associate Professor of Law, Ambrose Alli University Ekpoma, Edo State, can be reached through e-mail: [email protected] and Tel: 08057267619
