Yes, shedding half of the Excess Crude Account 60 weeks from 2019 elections is suspicious

by Alexander O. Onukwue

It’s been 30 months since the Buhari administration took on the responsibility of defeating Boko Haram. After announcing victory on at least two occasions, it still wants $1bn for the same fight. The National Economic Council will have to explain more on how they came about a resolution to dig such a hole in the nation’s Excess Crude Account.

From their meeting on Thursday in Abuja, the Governors announced that the funds were to be targeted at fighting Boko Haram. Speaking for the Governors, Edo state’s Godwin Obaseki said the money would be spent on the purchase of security equipment, procurement of intelligence and logistics.

All of which sounds about right but for some sensible reasons.

Firstly, it’s barely 60 weeks to the 2019 presidential elections, and even the blind know how much politicians like to make it rain during campaigns. Without a transparent campaign finance structure in Nigerian politics, those who wish to make sense of the splashes of cash during campaign season must begin early to be vigilant and question where politicians get their funds from. Hence, it should be a matter of concern that such a huge amount of money is being taken off the commonwealth of the nation with election and huge re-election bids soon to commence.

Secondly, throwing $1bn at the Boko Haram problem in form of military armament will not lead to the end of insurgency if the governmental gaps in the regions under siege are not attended to. Similar to some other terrorist and militia groups in other areas of the world ridden by violence and conflict, Boko Haram is known to play an economic role for those young persons who they have managed to get under their control. Since it was signed into law by President Buhari in October, not a lot has been heard of the North East Development Commission. If at all the $1bn fund were to be withdrawn from the Excess Crude Account, should a substantial part of it not be towards setting up the Commission to start repositioning the region?

Nearly every security commentator agrees that the Nigerian Military presently has many problems, including soldiers’ welfare with stories of officers having to depend on the goodwill of residents where they function for food. Will these funds be channelled towards improving soldiers welfare to ensure they have the self-esteem and confidence to confront the adversary? The APCs, anti-tank weapons and intelligence equipment to be purchased need officers who are sufficiently physically and mentally motivated.

Admittedly, the plan to combat Boko Haram cannot be public knowledge but suddenly coming up with an urge to splash money on the project so close to election season will and should raise concerns.

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