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Credible Elections Can Only Bring about Good Governance in Nigeria – Saraki

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Former Senate President of the Federal Republic of Nigeria, Dr. Abubakar Bukola Saraki has maintained that credible elections can only bring about the good governance, noting that without credible election there can never be good governance.

By Abdulrahman Aliagan, Abuja

Former Senate President of the Federal Republic of Nigeria, Dr. Abubakar Bukola Saraki has maintained that credible elections can only bring about the good governance, noting that without credible election there can never be good governance.

Saraki stated this on the virtual session hosted by Centre for Liberty Nigeria to mark year 2020 International Day of Democracy with the theme: “The Urgency of Electoral Reforms and the Sustenance of Democracy in Nigeria”.

The session that was anchored by the Sir Ariyo-Dare Atoye of the Centre equally has the former Speaker of House of Representatives as Co-Panelists in the interactive session that lasted for about 1hr: 30 minutes.

Dr. Saraki said that, “Good governance is a way of measuring how public institutions conduct public affairs and manage public resources in a preferred way, the process of decision-making and the process by which decisions are implemented”.

He attributed the reasons, why vote doesn’t count in Nigeria to the level of poverty and education.  He added, “If citizens know that selling their votes on the Election Day is negative to growth and development their state and local government, they won’t do it. The same thing goes to religion and ethnicity.”

He stated further that, Nigerians need more awareness on electoral process and good governance, he said, “Irrespective of your religion belief or ethnic nationalities that is not what is important, he added that, “The most important thing is who can deliver on our mandates.”

He assured that Nigeria will get there, but overtime, “When people begin to see the effect of bad governance and that they cannot continue to live in an environment of bad government, they will look for who best can deliver on their mandates.”

In his contribution to Electoral Reforms, Alhaji Ghali Naaba said Nigerians need political education, he said, “It is very necessary for us to achieve dividends of democracy, adding that democracy is expected to transform our lives for the better and not other way round.

Centre for Liberty Nigeria is a non-violent direct action group and a tripartite coalition group of concerned Nigerians, adopt A Goal Initiative and Free Nigerian movement. The group is being led by Nigerians who are dedicated to rebuilding Nigeria through fearless and purposeful citizens’ against impunity, injustice and bad leadership throughout Nigeria.

Globally, the theme for International Day of Democracy 2020 is “COVID-19: A Spotlight on Democracy.”

“Every Country is implementing measures to fight this pandemic. It is also important that the countries uphold the rule of law, protect and respect international standards and basic principles of legality, and the right to access justice, remedies, and due process of law.”

Background

In September 1997 the Inter-Parliamentary Union (IPU) adopted a Universal Declaration on Democracy. That Declaration affirms the principles of democracy, the elements and exercise of democratic government, and the international scope of democracy.

The international conferences on new and restored democracies (ICNRD process) began in 1988 under the initiative of President Corazon C. Aquino of the Philippines after the so-called peaceful “People Power Revolution” overthrew the 20-year dictatorship of Ferdinand Marcos. Initially an inter-governmental forum, the ICNRD process developed into a tripartite structure with participation of governments, parliaments and civil society. The sixth conference (ICNRD-6) that took place in Doha, Qatar, in 2006 reinforced the tripartite nature of the process and concluded with a declaration and Plan of Action which reaffirmed the fundamental principles and values of democracy.

Following up on the outcome of ICNRD-6, an advisory board set up by the chair of the process – Qatar – decided to promote an International Day of Democracy. Qatar took the lead in drafting the text of a United Nations General Assembly resolution and convened consultations with UN member states. At the suggestion of the IPU, 15 September (date of the Universal Declaration on Democracy) was chosen as the day when the international community would celebrate each year the International Day of Democracy. The resolution entitled “Support by the United Nations system of efforts of Governments to promote and consolidate new or restored democracies”, was adopted by consensus on 8 November 2007.

   

About author
Time Nigeria is a modern and general interest Magazine with its Headquarters in Abuja. The Magazine has a remarkable difference in editorial philosophy and goals, it adheres strictly to the ethics of Journalism by using the finest ethos of the profession to promote peace among citizens; identifying and harnessing the nation’s vast resources; celebrating achievements of government agencies, individuals, groups and corporate organizations and above all, repositioning Nigeria for the needed growth and development. Time Nigeria gives emphasis to places and issues that have not been given adequate attention by others. The Magazine is national in outlook and is currently being read and patronized both in print and on our vibrant and active online platform (www.timenigeria.com).
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The Missing Middle of Infrastructure Finance: Why Capital Still Fails to Become Infrastructure

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  By Chidi Nwafor  In October 2023, a Gulf sovereign wealth fund quietly closed a $2 billion allocation to global infrastructure, earmarked in part for emerging-market energy and transport assets. The announcement drew the usual applause: another sign, commentators said, that institutional capital was finally waking up to the infrastructure opportunity in the Global South. Eighteen months later, less than a tenth of that allocation had actually left the fund’s balance sheet. Not because the mandate had changed. Not because the fund had lost appetite. According to two people familiar with the portfolio, the constraint was simpler and more uncomfortable: there were not enough investable projects to put the money into. This is not a story about a reluctant investor. It is a story about capital that wants to move, cannot find enough places willing and able to receive it in a form it can underwrite, and quietly waits instead. Multiply that fund by the hundreds of pension schemes, sovereign wealth vehicles, commercial banks and infrastructure funds now carrying dedicated allocations for emerging-market infrastructure, and a pattern emerges that rarely makes it into a headline: the world is not short of capital for infrastructure. It has capital in historic abundance, sitting adjacent to a historic infrastructure gap, unable to cross the distance between the two. The Comfortable Explanation  The explanation on offer at every major infrastructure summit is a familiar one. Global infrastructure investment needs run into the tens of trillions of dollars over the coming decade; committed capital falls well short; therefore, the problem is one of insufficient funding, and the solution is more of it: more pledges, more blended-finance facilities, more climate funds, more multilateral capital increases. It is a comfortable explanation because it assigns responsibility clearly to governments who under-fund, institutions who under-commit, and it offers a clean remedy: raise more. It is also, on close inspection, not what the evidence shows. Pension funds globally hold trillions in assets under management with explicit infrastructure allocations that remain structurally underweight, not because trustees have rejected the asset class but because deal flow meeting their risk and governance thresholds has not materialised at the pace their mandates assume. Sovereign wealth funds report the same pattern. Commercial banks with dedicated project finance desks describe pipelines that look full at the term-sheet stage and thin dramatically by financial close. Development finance institutions, whose entire purpose is to absorb risk that commercial capital will not, routinely report that their binding constraint is not capital adequacy but the volume of bankable transactions their teams can originate and structure in a given year. None of this fits the scarcity narrative. All of it fits a different one. Availability Is Not Deployability  Capital availability and capital deployability are not the same condition, and the conflation of the two is doing real damage to how the world thinks about the infrastructure gap. Availability asks whether money exists somewhere with a mandate that could, in principle, be pointed at infrastructure. Deployability asks something much narrower and much harder: whether a specific project, at a specific moment, has been engineered, structured, documented and de-risked to the point where an investment committee can approve it without exception. The first condition is met, overwhelmingly, across nearly every category of capital that matters to infrastructure. The second is met by only a small fraction of the projects competing for it. The result is a market that looks, from the outside, like a financing gap, and functions, from the inside, like a conversion problem: an abundance of capital on one side, an abundance of infrastructure need on the other, and an underbuilt set of mechanisms in between capable of turning one into the other at any meaningful scale. Where the Conversion Breaks  The break does not happen at the ends of the process. It happens in the middle, in the unglamorous sequence of work that turns a plausible concept into an instrument a fiduciary can sign. A promising transmission project needs a feasibility study rigorous enough to survive institutional scrutiny rather than optimistic enough to attract early interest. It needs offtake arrangements that hold up under real counterparty and currency risk, not the counterparty risk assumed in a base case. It needs environmental and social documentation calibrated to the standards of the institutions being asked to fund it, not the standards of the jurisdiction hosting it. It needs a legal and commercial structure that allocates risk in ways a commercial lender, not only a development financier, will accept. It needs a sponsor capable of executing what has been proposed, not merely capable of proposing it. 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