Tribune Online
  • Home
  • #NigeriaElections2023
  • News
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions
No Result
View All Result
  • Home
  • #NigeriaElections2023
  • News
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions
No Result
View All Result
Tribune Online
No Result
View All Result

Investors reluctant to invest, consumers careful to spend over fear of electoral violence – Osinbajo

by Tribune Online
January 31, 2023
in Latest News
Reading Time: 4 mins read
A A
Osinbajo departs Vietnam, discussion on feed Nigeria Summit, NES#28: Osinbajo highlights importance of African Carbon Market in addressing climate change, Osinbajo expresses support , Every hardworking deputy always run into trouble with power brokers ― Osinbajo, Relief to states as NEC set to review bailout repayment modalities, Osinbajo wants African nations' debt swapped for climate action, social justice my virtues , Nigeria needs $410bn to implement energy transition, Stay ahead of terrorists, Osinbajo commissions Pandagric

Osinbajo

The Vice President, Professor Yemi Osinbajo has said that free and fair election is crucial because it is meant to support the primary objective of enabling the citizens to live well and have access to jobs and services.

The Vice President, who stated this on Tuesday at the Leadership Annual Conference and Award, said there is reluctance to invest before the election and consumers are careful not to spend their savings because of the fear of electoral violence.

“The daily struggles for food for shelter for clothing are bigger than any other matters. Certainly bread and butter trump everything else. So in our democracy, where we have today over 200 million people, 90 million of whom require education, and job opportunities, those are under the age of 30 and all others requiring health care infrastructure and social service, the enormity of the challenges are stuck.

“Democracy, the rule of law and the election of governments by free and fair elections are crucial, because they are meant to support the primary objective of enabling citizens to live well and have access to well-paying jobs, opportunities and services, or in a broad sense to support the growth and stability of the economy and the social structure of the nation.

“So it is evident then that we must carefully curate these safeguards for the well-being of our citizens to ensure that they do not negatively affect the very well-being that they are meant to protect, namely, the economy and the social structure of society. And this is a delicate task indeed because in every election cycle, the first casualty is the economy.

“There is a reluctance to invest before the elections. Consumers are careful not to spend their savings or to be bullish in the stock market sometimes because of the fear of electoral disturbances that might spiral out of control and make business and commerce impossible”, he said.

Related News

Osinbajo support group endorses Atiku for president

Buhari’s economic policies have touched lives of ordinary Nigerians more – Osinbajo

Elective positions: Osinbajo inaugurates APC legal compliance committee

Osinbajo said for the most sophisticated economic actors, it makes sense to simply wait until the complexion of the new government is clear. He noted that the prospects for the disruption of the economy are even greater, where elections for one reason or the other, produce governments that are not credible.

“Legitimacy of governments as conferred by the freely given mandate of the electorate is a major consideration as we’ve heard from our guest speaker. For self for savvy investors, both local and foreign capital, they say is a great coward, running away from the slightest sign of trouble”, he noted.

He further stated that Nigerians know from their recent Electoral history, that there are too many examples of electoral violence following disputed electoral outcomes. He said this of course, usually means the destruction sometimes public and private property and infrastructure, aside from the waste of man hours, while the unrest lasts and its immediate aftermath.

In his remarks, the former Prime Minister of Kenya, Raila Odinga said elections and democracy are failing in Africa not be because a majority of Africa’s voters prefer authoritarian, non-democratic forms of government, but because an organized elite, keen to protect narrow selfish interests, has forged strategic alliances and captured strategic systems and institutions of various nations with the sole purpose of subverting the substance of elections.

“In a number of countries, we are witnessing a situation in which the majority is increasingly at the mercy of the minority with regard to free, fair, transparent and credible elections. Africans, who wake up at dawn, stand in long queues all day to cast their ballot, end up with results that indicate their votes were not counted and did not count.


“In the last decade, many of our nations have evolved modern systems for collection, collation, transmission and tallying of election results. Many have adopted a results management system that combines traditional vote counting and tallying processes, and use of technology to verify voter eligibility, register votes and transmit results”, he said.

He said there is need for further reforms to make the voting process more accessible and reliable; enhance protections against mistake, irregularity, confusion, and fraud.

“There is need to rethink use of technology. Either we adopt reliable election technology, including voting machines that generate a voter-verifiable audit trail, so voters can confirm that their choices are being recorded accurately or we go fully manual.

“Here is my call to action. If Africa’s elite autocrats are uniting against free and fair elections, Africa’s democrats must also unite and defend democracy. We must build a continent wide pro-democracy coalition and look out for each other”, he said.

Odinga said the continent’s democrats must treat the subversion of election anywhere on the continent as a subversion of the people’s will everywhere on the continent.



Tags: Osinbajo
ShareTweetSendShareShare

Related News

Amani Health unveils ‘Speak Up Now’ to tackle trauma, abuse in children
Latest News

Amani Health unveils ‘Speak Up Now’ to tackle trauma, abuse in children

March 29, 2023
Poor quality water kills faster than imagined, NAFDAC DG tells sachet water producers
Latest News

Poor quality water kills faster than imagined, NAFDAC DG tells sachet water producers

March 29, 2023
CAN congratulates Niger Governor-Elect
Latest News

CAN congratulates Niger Governor-Elect

March 29, 2023

Most Read

  • Appeal Court signals stance on Atiku, Obi’s challenge
    Appeal Court signals stance on Atiku, Obi’s challenge
  • Ndigbo in Lagos apologise to Nigerians over Nwanyanwu, Muonso's statements
    Ndigbo in Lagos apologise to Nigerians over Nwanyanwu, Muonso's statements
  • I'm federal govt liability, I work for APC, Portable tells Police
    I'm federal govt liability, I work for APC, Portable tells Police
  • My daughter caressed me and I lost control  —Father who impregnated daughter
    My daughter caressed me and I lost control —Father who impregnated daughter
  • VIDEO: Police storm Portable's bar, singer resists arrest
    VIDEO: Police storm Portable's bar, singer resists arrest
  • From 100 level, I laboured not to get a B in any course  —Enoch Akinleye, best graduating student, Faculty of Life Sciences, UNILORIN
    From 100 level, I laboured not to get a B in any course —Enoch Akinleye, best graduating student, Faculty of Life Sciences, UNILORIN
  • MC Oluomo's video: He must pay for it if... — Lagos deputy gov, Hamzat 
    MC Oluomo's video: He must pay for it if... — Lagos deputy gov, Hamzat 
  • Comedian, Ijoba Lande, is missing, wife, others cry out
    Comedian, Ijoba Lande, is missing, wife, others cry out
  • Ekweremadu, Igbo curse and crime of passion
    Ekweremadu, Igbo curse and crime of passion
  • EuroAfrica meets FG, to recruit 500 Nigerians for Poland-based company
    EuroAfrica meets FG, to recruit 500 Nigerians for Poland-based company

Subscribe to e-Paper

E-Vending, e paper, pdf, e-paper, Tribune

Frontpage Today

EDITORIAL

Editorial
Opinion
Letters

BUSINESS

Capital Market
Money Market
Economy

ENTERTAINMENT

Friday Treat
Entertainment
Razzmattaz

REGIONS

South West
Niger Delta
Arewa

RELIGION

Tribune Church
Church News
Muslim Sermon
Eye of Islam
Islamic News
COLUMNS

Anike's Diary
Aplomb
Ask The Doctor
Autoclinic With The Mechanic
Awo's Thought
Borderless
Crucial Moment
Empowered For Life
Festus Adebayo's Flickers
Financewise
Gibbers
Intimacy
Language & Style
Leaders' Forum
Leadership & Management
Lynx Eye
Monday Lines
Mum & Child
Natural Health
Notes from Atlanta with Farooq Kperogi
On The Lord's Day
PENtagon
Political Panorama
Veritatem With Obadiah Mailafia
Voice of Courage
Whatsapp Conversation
You and Eye
Your Life Counts

WOMEN

Xquisite
Xquisite Food
Xquisite Style
Wondrous World of Women

MORE

Business Coach
Education
Event Digest
Crime & Court
Do It Yourself
Ecoscope
Property & Environment
Energy
Maritime
Aviation
Brands & Marketing
Agriculture
Info Tech
Labour
Leadership & Management
Achievers
Arewa Live
Arts & Culture
Arts & Reviews
Campus Beat
Politics
Health News
  • About Us
  • Contact us
  • Disclaimer
  • Privacy
  • Tribune Advertisement Rates

© 2023 Tribune Online, an online publication of African Newspapers of Nigeria Plc. All Rights Reserved.

No Result
View All Result
  • Home
  • #NigeriaElections2023
  • News
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions

© 2023 Tribune Online, an online publication of African Newspapers of Nigeria Plc. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist