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The Brexit Nightmare ByReuben Abati

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What has the United Kingdom just done to itself, its people and the future of its self? It is difficult to fully understand why a country in taking a decision about its future will decide on a false option that seems to negate long-term interests.
And this, just because a total of 17.4 million people out of over 61 million chose to vote against the United Kingdom’s continued membership of the EU. More than 50% of these pro-Brexit voters are actually between the age bracket: 50-70, thus an ageing class of voters has taken a decision to undermine the future of the younger generation.
Pro-EU Prime Minister David Cameron said he was “courageous and optimistic ” when in January 2014, he tried to justify the need for a referendum.
His words then: “ I think the overwhelming majority of the British people say they want to be in Europe but they want some changes to the relationship and they would like to be given a say. It is not something that we should be frightened of. It’s something we should embrace.” Cameron is now a study in political miscalculation and how over- confidence can make a political leader misread the people’s moods and expectations. He has been praised for his “courage” in quickly accepting the people’s verdict and for tendering his resignation, but I guess he won’t possibly be talking about courage. He must be full of regrets for presiding over the United Kingdom’s exit into a nightmare. Britain is better off remaining in the EU. But on June 23, 2016, the people of Great Britain spoke and their verdict has been accepted as the status quo, except a miracle happens and the current petition by the pro-EU protesters results in a second referendum. As things stand, the people have rejected continued membership of the European Union. The implication is that the majority of the people believe that the United Kingdom is better off on its own. What is quite clear is that this British exit (Brexit) is more about the rise of xenophobia, bigotry and isolationism. It is not new. Britain has always looked backward and in-out in the course of its membership of the EU, oscillating between its commitment to a greater Europe and the need to preserve British identity and sovereignty.
The British public mind has been driven in recent years by loud, perpetual carping about too much control from Brussels, and the
need to project Britain first. The ultra nationalists nursed fears about their great country becoming a colony within a EU empire. They are uncomfortable with the apparent globalization of British demographics, turning Britain into a country of many racial colours, with the influx of so many immigrants who are empowered by EU laws to be free citizens of a united Europe. The call for a referendum on this matter has now given the Brexiteers, who jus want their country to be left alone by outsiders, the opportunity they have always wanted. PM Cameron apparently underestimated their resolve. The Leave EU activists campaigned more vigorously, and deployed every possible means including blackmail and sentiments. They had the vibrant support of many political leaders including former London Mayor Borns Johnson, Michael Gove, and fire-eating UKIP leader, Nigel Farage. In the event of an intense campaign that divided the country right down the middle, we witnessed the mainstreaming of xenophobia and bigotry. Labour MP Jo Cox who was murdered by an irate Eurosceptic for her pro-EU stance will be remembered as the symbol of how a straightforward, for or against, political debate turned into hate campaign and a national referendum became an act of terror. There are many lessons to be learnt from this instructively low moment in Britain. What has happened is actually a referendum on the British establishment and the EU. The EU faces a crisis requiring urgent introspection and reform of its processes, if it must continue to serve its purpose. Britain is not the first country to avoid membership of the EU but whereas countries like Switzerland and Norway can hold out on their own, Brexit comes at great cost to the British. At hand is the triumph of emotions over reason, and the triumph of right wing populism. In many countries of Europe and even at the moment in the United States, the ultra-conservative political bloc seems to be in the ascendancy. Questions are being asked about regional integration and globalization. The basis for this is largely the manner in which regional groupings such as the EU disappoint the people. This is made worse by the failure of the leadership elite and sitting governments. When people are not happy with their governments or their circumstances,
they are ready to make any choice that looks like an alternative. Opposition and anti-establishment politicians understand this game too well.
All they need to do is to demonize the establishment, tear the government of  the day into pieces, call names and tell the people that the time has come for change. Those who claim that they best know how to save a nation, armed with populist rhetoric in an election time, and have the best support of the people, in the long run stand a better chance of winning. Democracy in that fashion is a play-field of emotions, not facts. It is the same scenario that made Bernie Sanders so popular in the recent Presidential nomination process in the United States, and also led to the emergence of Donald Trump as the presumptive Republican Presidential candidate. Political leaders who don’t want sad outcomes only have to provide good leadership and meet the people’s
expectations. It is also clear that democracy may not produce rational outcomes in so far as it awards triumph on the basis of percentages: in Brexit, the difference is just 4%, 58-42, but the rule of the game is that majority carries the day, and as in most cases, the winner takes it all. But should the economic and political destiny of a people be determined in such formulaic manner?
Brexit has left the United Kingdom in a more divided shape that it was before the referendum. The entire country is in turmoil.
The taste of change doesn’t quite seem so sweet anymore, less than 72 hours after the vote. Young Britons may no longer be able to
move freely across Europe and the experts have predicted rising costs and expectations and greater economic hardship. If Brexit
stands, more than half of the population will be thrown into a winter of discontent, wondering why just about 1.3 million voters
(17.4 million (for), 16.1million (against) should have been allowed to mislead a country. Many Britons will no longer be able to find jobs so easily across Europe. Hyperdemocracy has resulted in British discombobulation. But that is democracy: it includes the people’s right to make mistakes, that is – the right of the simple majority to make mistakes at the expense of the minority, who may have lost the vote due to poor turn out or other matters of logistics. Leadership counts. The truth is that the leadership elite in Britain has also not always being too clear about where Britain should stand in relation to the rest of Europe. Even the pro-EU political leaders do not really object to Britain holding on to its national currency, the Pound, as opposed to the Euro, and Britain opting out of the idea of being a Schengen border. Britain also did not join the European Economic Community until 1973, 16 years late. Two years later, there was an exit referendum similar to this one, won by the pro-Europe campaigners. Nothing forecloses the possibility of another referendum in the not too distant future to reverse the present decision. What has happened isperhaps all correctly British, in the final analysis: a nation yet to come to terms with certain odern realities, caught between nostalgia and the future. This is precisely what the copycat plebiscites should understand, particularly in Africa where some commentators have been saying that some African countries on account of Brexit may begin to raise question about the relevance of the African Union. The AU is modeled after the EU and it receives substantial funding support from it, but it has not been as remotely relevant in addressing the people’s expectations. In my opinion, there is nothing to fear in terms of a copycat effect in Africa; most Africans are
indifferent about the AU anyway, they are not even aware of its existence. But as most development aid received by African countries come from the EU, this may be negatively affected with the exit of a major country like Britain, and a post- EU Britain may also be compelled to adjust its trade relations, immigration rules, and development support for countries in Africa. This, I think, is all there is to it at this end. Closer home, the more strident call is for a referendum on the Nigerian union. In the last few days, I have for example, seen a strange Nigerian invention called “Biafrexit”. This must be a joke, symbolically thrown up by those who must know that no Nigerian government will allow such a vote. The Brexit vote was not about disintegration, even if Scotland is now insisting on its independent right to be part of the EU; rather the vote was more about national and economic identity. Nigeria is
still at the level of debates: we can hold as many conferences as we like, adjust the Constitution at mutually agreed terms, but a
referendum that could lead to the dissolution of this country is not what we need, and it is certainly not the lesson from Brexit.

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US Lifts 12-Year Security Restriction on Nigerian Vessels — Oyetola

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The United States Coast Guard (USCG) has lifted a 12-year-old Condition of Entry (CoE) imposed on vessels arriving in the United States after calling at Nigerian ports, Minister of Marine and Blue Economy Adegboyega Oyetola has announced.

The development ends a regime of additional security requirements that had affected vessels operating between Nigeria and the United States since June 25, 2014.

Under the former arrangement, vessels heading to the US that had visited designated Nigerian ports within their previous five port calls were subjected to additional security measures and enhanced scrutiny before being allowed into American waters.

Oyetola said the decision followed significant improvements in Nigeria’s maritime security system and its implementation of the International Ship and Port Facility Security (ISPS) Code.

The minister credited the achievement to collaboration between the Federal Ministry of Marine and Blue Economy, Nigerian Maritime Administration and Safety Agency (NIMASA), government agencies, port and terminal operators, shipping companies and other stakeholders.

According to Oyetola, the US Coast Guard conducted four comprehensive assessments of Nigeria’s maritime security framework and port facilities between 2024 and 2026.

The assessments took place in March and April 2024, March 2025 and April 2026, with the findings showing improvements in Nigeria’s compliance with international maritime security standards.

The lifting of the restriction is expected to have implications beyond security compliance.

According to the minister, Nigerian ports could benefit from faster vessel turnaround times, improved shipping schedules and lower operational costs, as vessels will no longer face the additional requirements imposed specifically under the CoE.

The development could also make Nigerian ports more attractive to international shipping operators and potentially encourage greater shipping activity, trade and investment.

For more than a decade, the additional requirements had contributed to increased security and operational expenses for shipping companies, as well as extra inspections, documentation and delays.

Oyetola described the lifting of the restriction as an important milestone for Nigeria’s maritime sector and an indication that the country’s efforts to improve port security are yielding results.

He also commended NIMASA Director-General Dayo Mobereola and his team for their contribution to the process.

The minister said the Federal Government would continue working to maintain the progress made and position Nigeria as a safe, secure and competitive destination for international shipping.

The removal of the US restriction is therefore being seen as a significant development for Nigeria’s maritime industry, particularly as the country seeks to improve port efficiency and strengthen its role in international trade.

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Dangote Refinery Secures $400m Underwriting Commitment Ahead of $5bn IPO

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Dangote Petroleum Refinery has secured a $400 million underwriting commitment as preparations continue for its planned initial public offering (IPO), which could become one of Africa’s largest-ever stock market listings.

The underwriting commitment was announced by IPO advisers Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group. It forms part of a broader $1 billion underwriting programme supporting the proposed offering.

The programme comprises a $600 million completed and funded private placement alongside the new $400 million underwriting commitment.

The refinery, owned by Nigerian billionaire Aliko Dangote, has submitted an application to Nigeria’s Securities and Exchange Commission (SEC) for a potential $5 billion IPO. However, the final size of the offering has not yet been determined and will depend on regulatory approval and market conditions.

According to the advisers, the $400 million underwriting facility will become effective when the IPO is launched, subject to prevailing market conditions and the necessary regulatory approvals.

The development represents another major step in the refinery’s plans to broaden its ownership base and raise additional capital for future growth.

The company has been preparing for a retail-focused Nigerian IPO, with management previously indicating that the offering is intended to give Nigerian investors an opportunity to participate directly in the refinery’s growth.

The proposed $5 billion offering has attracted considerable attention because of its potential scale.

Dangote Refinery is Africa’s largest refinery, with an initial refining capacity of about 650,000 barrels per day. The company has also set out plans to increase capacity to approximately 1.4 million barrels per day within three years, with the expansion expected to be financed partly through IPO proceeds and debt.

The refinery’s management has said preparations for the IPO are progressing, while investor interest has been strong during pre-marketing activities.

A $2.5 billion private placement in July reportedly valued the refinery at around $40 billion. The transaction was said to have been heavily oversubscribed, attracting interest from African and international institutional investors.

Dangote Refinery has also strengthened its position in international fuel markets amid disruptions linked to the conflict involving Iran.

The refinery has become a major supplier of aviation fuel to markets across Africa and Western Europe, with its management saying it became Europe’s largest supplier of jet fuel in June and July.

The company also benefits from its access to Nigeria’s crude oil resources, strong domestic fuel demand and its integrated refining operations.

Unlike plans for an immediate foreign listing, the company currently intends to focus its IPO on the Nigerian market.

Dangote Refinery’s CEO, David Bird, said the company wants the offering to encourage broad participation by Nigerians and create an opportunity for citizens to share in the refinery’s future growth.

A potential foreign listing could be considered later, after the company establishes a longer track record of production and financial performance.

With the new $400 million underwriting commitment and preparations for a potential $5 billion offering continuing, the Dangote Refinery IPO is shaping up to be a major development for Nigeria’s capital market and the country’s energy sector.

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Troops Arrest Dogo Gide’s Alleged Ally, 60 Suspected Terrorist Collaborators

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Nigerian security forces have arrested a suspected terrorist operative allegedly connected to notorious terror figure Dogo Gide, alongside 60 other suspected collaborators in separate operations across the country.

The arrests were recorded between August 12 and 13, 2026, according to a military situation report released in Abuja on Thursday.

In Kaduna State, troops of the 4 Demonstration Battalion reportedly intercepted a suspected ISWAP operative at the Kadage Checkpoint. The suspect was allegedly transporting seven pairs of sewn foreign camouflage uniforms believed to be destined for a terrorist camp.

Military authorities said preliminary questioning indicated that the suspect was a close associate of Dogo Gide and had allegedly been providing logistical assistance to his network.

Items recovered during the arrest included 23 yards of foreign camouflage material, two mobile phones, three ATM cards and an identity card, among other materials.

In Adamawa State, troops from the 226 Battalion, working alongside local hunters, conducted a raid on a motor park in the Gombi area following intelligence reports concerning suspected terrorist collaborators.

The military said some of the suspects were allegedly operating under the cover of menial workers and hawkers. The operation resulted in the arrest of 60 people, who have been detained while investigations continue.

Authorities are expected to establish the identities of those arrested and determine whether they have links to terrorist activities.

The military also reported a significant recovery in Zamfara State, where troops of the 1 Brigade found an RPG bomb during a fighting patrol around Tunga-Jambako in Maradun Local Government Area.

The recovery followed an earlier terrorist ambush in the area. Troops subsequently carried out searches and expanded their presence to prevent further attacks and restrict the movement of suspected terrorists.

In Benue State, troops operating under Operation Whirl Stroke arrested five suspected terrorists during offensive operations around suspected terrorist enclaves in Chito, Jootar and Ikyior, all in Ukum Local Government Area.

The military said the troops destroyed the identified enclaves and recovered two motorcycles and two locally fabricated firearms, among other items.

The report also disclosed that troops in Borno State intercepted five women and seven children believed to be family members of terrorists after they reportedly escaped from the Gazuwa Camp.

Separately, six male children were intercepted at Ajiri after reportedly fleeing Murofari Village, where violent clashes had occurred between rival terrorist groups.

The military said the operations demonstrate its continued reliance on intelligence-led actions to disrupt terrorist logistics, dismantle support networks and restrict the freedom of movement of armed groups across the country.

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