Inside Business Africa INSIDE BUSINESS AFRICA APRIL 2019 - Page 16

Cover Feature I N S I D E B U S I N E S S A F R I C A President Buhari with King of Jordan Abdullah II bin Al-Hussein winning the 2015 election had contested 3 times but couldn't pull through to the winners' side. But succeeded on the fourth try. He now has a second term to do. He was re- elected on Saturday 23rd February 2019. This is his second coming. No doubt there were many sad moments in his first term which will end on May 29, 2019, how can he do better now that he is back for a second term? While we will go on to name some of those expectations and juxtapose it with his performance in his first term, We will also communicate what he can do differently now that he says he is ready to make vissibe change possible. One, is his promise that he was going to fight corruption to a standstill. If you are conversant with the affairs of Nigeria, you will wholeheartedly agree it is easier to steal from government than it is to greet your neighbor good morning. You will agree that Nigeria is a country known worldwide for being very corrupt. The country has consistently been within the top most number on the list of Transparency International as a corrupt country. No thanks to public office holders who brazenly steal public funds and engage in other nefarious activities that are corrupt. What is most worrisome is the little or no consequences for their unworthy actions. Their unworthy actions have left Nigerians poor and were in the most desperate need for a saviour to salvage their situation. This is was why a lot of people expected that Buhari was the right man for the job - to fight corruption. This was the man who has an untainted public life and with the Mr Integrity tag. He is widely known to pursue a sparse lifestyle. He is the man that abhors ostentatious living. Looking at these credentials, one would think that he would make mincemeat of corruption in his first term. He did so little to prove that he can. Buhari showed to be selective in his war against corruption. He was quick to order the EFCC to jail his enemies and leave out his friends even when the both sides are culpable of the same crime of public pilfering. Take the case of Babachir Lawal, the former SGF - investigation had proved he made unholy big cuts from a grass cutting contract job. Yet he was living and working with the president who pretended not to have known about his SGF's lootings. Lawal would later be suspended by the vice president in the absence of Buhari who had gone on medical leave in the UK. So much for a man who is reputed with integrity. Buhari’s government has shown to welcome corrupt persons who are undergoing trial in course cases filed by the EFCC. Once they join his party, the 16 u t APRIL1 4 - 28, 2019 APC, they become saints whose old sins have been washed away. Chief Orji Uzor Kalu, a former governor of Abia State who has been elected senator despite still undergoing trial for the humongous sum he is alleged to have stolen from Abia state while prsiding ov er the affairs of the state. Then there is Abdulrasheed Maina. The pension civil servant who is alleged to have stolen millions of pensioners money. He is here with us, free and living a beautiful life with stolen funds. He has gone to do a newspaper advert congratulating Buhari on his re-election. Well, I'm hoping that in this second coming of the president, he will do away with partial treatment by allowing justice to take course on both his foes and friends found to be corrupt. There should be that official and unofficial non-interference with the work the EFCC do that goes beyond media trial. Buhari should fight corruption this time around for real regardless of who is involved. He has promised while speaking on his triumph at the polls that Nigerians should get ready for a tougher time. Then the issue of poverty level of Nigerians - a sad reality President Buhari had promise to eradicate when he becomes president. The majority of folks in this country are common people living life on the grind mill. It has even been reported globally in the news media some of the key word used by global leaders and economists that “Nigeria is now the poverty capital of the World. And this is something that doesn't have to be. It is largely due to bad leadership. Our political leaders are perpetual selfish folks who are more concerned with feeling up their pockets than offering any bit of selfless service. Nigerians are constantly trying to egg out a living on some government policies that does not want them to live. As a small business owner trying to do business and earn a living and hopefully expand within reasonable time and employ people, the business policy in Nigeria will suffocate the life out of your growing business, despite several initiatives like Ease of Doing Business Banking Report THE MAGAZINE 0F THE CORPORATE WORLD BP's Dudley warns on LNG trade war vulnerability Insecurity in global trade flows could have a particularly damaging impact on confidence in LNG as an energy source T rade tensions could impact on LNG's prospects as the world transitions to cleaner energy sources, by encouraging countries to resume a dependence on domestic resources rather than imports, BP chief executive Bob Dudley told the LNG19 conference in Shanghai today. "Gas is affordable, abundant, cleaner and easily transportable thanks to LNG", says Dudley, while noting that global trade in the liquefied gas is set to more than double from 400bn m³/yr to around 900bn m³/yr by 2040. But trade wars only serve to remind countries that becoming dependent on imported energy can create political risk. "Countries need to have confidence in the security of their gas supplies," says Dudley. BP has researched the implications if trade tensions were to escalate - likely in reference to US president Donald Trump's tariff wrangle with China - and found that it could heighten concerns about energy security, leading to less oil and gas trading as countries return to domestic resources. "This could have a profound implication for countries like China that have created a massive programme of replacing coal for energy," says Dudley LNG shipments from the US to China have plummeted, at least partially as a consequence of the trade war and higher Chinese tariffs. While 25 US LNG vessels sailed there during the last six months of 2017, only six did during the same period last year, despite a boom in the US' LNG output, according to data from the Institute for Energy Research. The Energy Information Administration (EIA) projects America could more than double its LNG export capacity by the end of 2019 and could become the world's top natural gas exporter as early as 2022. But not all observers had a gloomy outlook for global trade tensions in the LNG market. "There are massive supplies sitting in America and I understand that China will currently be reluctant to buy them, as they represent a strong negotiation card in the trade war," Hans Kristian Danielsen, marketing and sales manager at consultancy DNV GL told Petroleum Economist. "But this is only an indirect impact and it could change quickly if relations improve, as I believe they will.” u t 37 u APRIL1 4 - 28, 2019 Inside Business Africa keeps you up to date and well informed www.insidebusinessafricang.com