Friday, 20 July 2018




The 2018 Budget is not fundamentally different from previous ones. The only constant thing about budgets in the last five years is the steady increment in the volume of budget as well as debt servicing. Capital expenditure nosedived in 2016 from N601 billion allocated in 2015 to mere N173.1 billion which was actually spent. However, in the same year 2016 debt servicing recorded N1.3 trillion up from N1 trillion in 2015. Hence, the budgets for social services like education and health have recorded paltry allocations.

The Socialist Party of Nigeria (SPN) sees the 2018 budget as, once again, having all the hallmarks of a capitalist budget in a time of mounting crisis. It is a budget of poverty consolidation and enrichment of a few privileged persons. We do not see the rational for servicing of debt to the tune of N2.01 trillion an amount that equals the amount allocated to Education (N661 billion), Health (N356 billion), Agriculture and Rural Development (N203 billion), Water Resources (N155 billion), Power, Works and Housing (N715 billion) put together. What this clearly shows is that the Buhari-led government prioritizes the interest of a few creditors, most of whom are members of the ruling class, far and above the obligations to the Nigerian working masses.

It is obvious that governments at all levels have continually plunged the Nigeria economy into needless debt as a means of largely acquiring more public funds to themselves, resulting in increasing debt servicing. Besides, the Nigerian working masses do not feel any positive impact of these loans considering the fact that the loan are largely mismanaged and looted. The most ridiculous is government constantly and mostly borrowing money from the privileged few and imperialist institutions through financial instruments like treasury bills only to pay back one of the highest interest rates in the world and, to make matters worse, the loans are mostly not invested on anything tangible. The government through the CBN gives loans to the commercial banks only to borrow same money at a more profitable rate is round stripping and stealing. Inflation in Nigeria is mostly influenced by cost push and not demand push considering the fact that Nigeria is mostly an import nation with weak currency, weak purchasing power, lacking basic infrastructure, high cost of credit currently hovering 20% etc.

A government that claims to bring about change should pay more attention to social services and massive job creation but typically of the capitalist government, less attention are paid to the challenges confronting the people. SPN is opposed to the provocatively high allocation to the National Assembly (N139.5), Office of the Secretary to the Federal Government (N112 billion), Office of the National Security Adviser to the Federal Government (N123billion) and the jumbo salaries and allowances for political office holders in the executive, legislators, agencies etc., put at over N500 billion. SPN government will reduce the allocation to the National Assembly by at least 80% and same for Office of Secretary to the FG and Security adviser to the FG and thereby saving about N300 billion that will be channeled into education, health etc.

In the same way the reduction of jumbo salaries and allowances to the average wage and allowances of civil servant will save at least another N300billion. SPN will pay back loans that were utilized in the interest of the people but will not service or pay loans owed to looters while some of the loans will be re-negotiated. SPN is opposed to Tax amnesty of N87.8 billion BUT favours making the rich and the big companies to pay more tax and hereby raising additional revenue from corporate income tax from N658 billion to at least N1 trillion. Massive investment in social infrastructure and industrialization under a democratic control of the working people will drastically the cost of doing business and consequently attract more small and medium scale businesses.

The SPN will scrap the allocation to Power Reform Program of N193 billion in line with its renationalization program of the power sector. SPN will also scrap the N65 billion for amnesty to militants and N150 billion allocated to Special Intervention Program and invest these resources in addition to the existing allocation to expand, education, health, environment, housing etc., and by so doing train, educate and create jobs to youths in general as a means of eradicating militancy, kidnapping and other social vices in one plan to eradicate poverty and joblessness.

The Buhari government and the entire ruling elite are not thinking about industrialization let alone planing towards it, the government confuses foreign investment with industrialization. Attracting foreign Investment will not industrialise the economy, at best the foreign investors will cherry pick and exploit the opportunities to make the most profits. Only massive investment in key sectors like education, integrated transportation, rural development, modern agriculture, healthcare, steel etc., in a planned manner can industrialise and create jobs on a massive scale. The essence of industrializing the economy is to produce and carryout services faster, better and efficiently with the aim of improving the quality of life. This also means producing small tools and big machines including automated ones in Nigeria to enable the economy's productivity increase and thereby raise living standards. 

The capitalist ruling elite in a neo-colonial economy is incapable of achieving industrialization and advancement in the economy because it is weak to challenge the imperialist capital. The task of achieving sustainable economic progress can only be carried out by the working masses through nationalized planned economy under transparent and democratic control and management by the working people themselves. This is what the SPN will work to achieve by building a movement of Nigerian working people and poor that can transform the country.
Abiodun Bamigboye
Acting National Chairperson
Chinedu Bosah
National Secretary

Thursday, 19 July 2018


The Socialist Party of Nigeria (SPN), IFO Local Government Area (LGA) chapter, sympathizes with the victims of flood which occurred last Friday 13 July 2018 in Abeokuta during a heavy rainfall. According to reports, no fewer than 5 people may have lost their lives while properties worth millions of naira were destroyed by the flood.
As far as we are concerned, this is a natural disaster made worse by the failures of the Governor Ibikunle Amosun-led State government. We therefore put the responsibility for this disaster at the doorstep of the Ogun state government and demand immediate compensation to all victims as well as emergency measures to prevent a new flood considering that the rainy season is far from over.
However while sympathizing with the people of Abeokuta, we warn that a far greater disaster beckons in the rural communities of Ifo Local Government Area of Ogun state like Oke Aro, Olambe, Matogun, Giwa, Koye Oke, Alagbole, Ajuwon, Akute etc if the Governor Ibikunle Amosun-led State government does not wake up for its slumber. These are communities that have been abandoned for long by the government in the areas of provisions of basic public infrastructures. There are no drainages or water channels in these communities because there are no tarred roads!
It is disheartening and a sign of the insensitivity of the ruling All Progressive Congress (APC) to the plight of the people of these communities that all the road projects began by the Governor Ibikunle Amosun-led government years ago have now been abandoned thus compounding the condition of the roads and adding to the hardship and pain of the people living in these communities. As a result, people in these communities are living in palpable fear for their lives as the rainy season intensifies. Infact, should there be a heavy downpour in these communities on the scale of the rainfall that caused the flooding in Abeokuta last week, there is no doubt that several parts of these rural and abandoned communities could be submerged leading to large scale death and destruction.
Our party therefore calls on the Governor Ibikunle Amosun-led state government to immediately come to the rescue of the inhabitant of these communities by ensuring that all abandoned road projects are completed, efforts made to tar all roads within the communities and drainage channels are dug in order to prevent mishap. As far as we are concerned, the Ogun state government has the resources to complete the abandoned road projects and even do more. But this will only be possible if the routine looting of the state treasury by politicians is blocked and the corrupt contract system replaced by a system of public works programme under which roads and other similar infrastructural projects will be undertaken directly by a retooled and motivated public works department instead of the current practice where infrastructural projects are contracted out to friends and political associates masquerading as contractors in order to steal public resources.
The Socialist Party of Nigeria (SPN) is a newly registered political party that stands for the interest of the working class and poor masses. We urge the people of Ifo LGA and Ogun state at large to join and support our party so that we can offer responsible, efficient and pro-people governance instead of the fraudulent, corrupt, inefficient and irresponsible governance that the PDP and APC have offered to the state since 1999.
_______________________                           ______________________
AYOMIDE E AJAKAYE                                     MALLAM YUSUF KAZEEM
CHAIRMAN                                                           SECRETARY
08064876421                                                        07068476258

Wednesday, 18 July 2018


*The election reflects mass rejection of the pro-establishment politicians and their political parties!
**NLC and TUC must commence the process of providing the working people with an independent pro-people political alternative either by forming a mass party or supporting the building of SPN into a mass party

Press Statement

The Socialist Party of Nigeria, SPN, describes the outcome of the July 14, 2018, Ekiti State gubernatorial election as neither a pass mark for Dr Kayode Fayemi of All Progressive Congress, APC nor an endorsement of Buhari/APC-led federal government. The election which was more or less a vote buying contest among capitalist political parties especially APC and PDP was not only characterized by militarisation and inducement of the electorate but also reflects a mass rejection of the pro-establishment politicians and their political parties by mass of the working people in the state.

According to the official election result declared by the Independent National Electoral Commission (INEC), Dr Kayode Fayemi, the candidate of APC polled a total of 197,459 votes to defeat other candidates who participated in the election. These include his closest rival Professor Olusola Eleka of People Democratic Party, PDP who got 178,121 votes. The result further revealed that, the total votes cast is about 403,451. This is far below 50% of total number of registered voters of 913,334 people and 60% of about 646,000 people who collected permanent voters cards (PVC) in the state.

Going by this data, it is obvious that, Dr Kayode Fayemi did not get up to one third (33%) of the total number of people with PVC let alone that of the total numbers of the registered voters. It is in the light of this, we of SPN reiterate that, Dr Fayemi/APC electoral victory is far from being a pass mark! Again, despite the billions of naira allegedly spent to buy votes by capitalists’ politicians who participated in the said election especially that of PDP and APC, it is instructive to state that, the total votes cast fell below the 433,345 votes cast in 2014. Hence, the winner got about 30% of votes of the registered voters despite cash-and-vote election while at least 69% of registered voters rejected both anti-poor parties (APC and PDP).

This decline in the total vote cast is not surprising to us in SPN. We believe the decline in the turn-out of the electorate largely reflects the huge level of mass dissatisfaction among the people against the four years of misrule and administrative recklessness of the Governor Ayodele Fayose/PDP-led government in the state. It also represents the mass disappointments in the failure of president Buhari/APC-led government to resolve the problems of mass misery accentuated by PDP 16 years of misrules at the federal level. Also responsible for the decline is the fact that four year rule of Dr Kayode Fayemi as Governor of the state between 2010 and 2014 was characterized with mass attacks on workers and poor masses in the state.

Also worthy to note is that, the decision by over 69% of registered voters who either refused to collect the PVC or participate in the said election may not be unconnected with the fact that most working people in the country have been forced by their past experiences to believe that every politician that seeks political power does so for self-serving motive while mass of the working people continue to wallow in abject poverty. Thus, they believe it is a waste of time to participate in elections.

As much as this impression is true, it also important to state that the situation is partly because of the continuous refusal or inability of the leadership of the labour movement, NLC and TUC to offer the working people with an option of credible and independent mass pro-working people political alternative. This has made it difficult for the working people to arrive at a conclusion that only a government formed by them is capable of beginning to address and meet all of their economy and political aspirations and desires.

It in a bid to accelerate the process through which the working people will come to this realisation that we of the SPN call on the NLC and TUC to follow the example that led to the formation of SPN and commence the process of providing the working people with an independent pro-people political alternative either by forming a mass party or supporting the building of SPN into a mass party through which the masses can begin to express their true electoral value.  Unless the labour leaders are prevailed upon to yield to this their historical task, sections of the capitalist ruling class will always appropriate the anger of the working people against any section of their class that failed to meet the aspiration of the people to manoeuvre themselves to power.

Our effort to end the cycle of perennial replacement of one set of thieving elites with another in favour of establishment pro-working people government with a socialist programmes  explains why we shall continue to build SPN as a true alternative pro-working people political platform to all the existing capitalist political parties in the country. This we also hope could compel the leadership of labour movement in the country to form a pan-Nigeria working people political platform or support building the SPN as such mass platform that will have a wider organisation spread and structure across the length and breadth of the country.

Abiodun Bamigboye                                                                                     Chinedu Bosah

Acting National Chairperson                                                                          National Secretary

08033914091                                                                                                  07033775517

Tuesday, 10 July 2018


 *No government formed on the basis of capitalist philosophy is capable of offering any breakthrough for the poor masses

Press Statement 

The Socialist Party of Nigeria (SPN) hereby disclaims the report in the Vanguard Newspaper on Saturday July 7, that it was among the 41 pro-capitalist political parties, led by the anti-poor People Democratic Party (PDP), in a coalition aimed at producing a consensus candidate to dislodge from power the inglorious regime of the Muhammadu Buhari/APC-led federal government come 2019 election.

The story is titled: “2019: PDP, SDP, APGA, 39 other parties move to produce one candidate”. Since this false report was published, we have been inundated with calls by our members and supporters who were disturbed that our great party which stands for the workers, youth and the poor is being grouped with anti-poor and corrupt parties like the PDP and others so listed. 

Meanwhile the SPN was neither represented in any meeting to discuss forming a coalition neither did the leadership of our party at any time confirms its participation in such a meeting to Vanguard newspapers and its agents. Ethics of responsible journalism and fair hearing requires Vanguard newspapers to contact the official leadership of the SPN to confirm or disclaim this report before rushing to publish a false story. We hereby demand a public retraction of this false story by the Vanguard newspaper.

We strongly believe that the inclusion of SPN is a deliberate ploy by the PDP to use the SPN to give credibility to its coalition of anti-poor political parties which are not different from the APC.  It is in the light of this, that SPN dissociates itself from all coalitions formed by pro-capitalist political parties with the sole purpose of wresting political power from the Buhari/APC-led government, regardless of whether or not SPN is publicly mentioned as part of such a coalition.

 As much as we of SPN agree that Buhari/APC-led government is a monumental failure  which deserves to be removed even before 2019, we however, disagree with any false impression that the replacement of APC-led regime with a government formed by the PDP that plunged the country in a deep mess while in power or a coalition of another section of the thieving politicians and their political parties with anti-poor capitalist program is capable  of guaranteeing a better Nigeria and improvement in the living and working condition of workers and the poor masses as a whole.

This is because all these political parties which include the Olu Falae-led Social democratic Parties, Alliance for Democracy, AD; labour Party, LP, Unity Party of Nigeria, UPN, Justice Party and 36 others subscribe to the same anti-poor neo-liberal, capitalist philosophy of exploitation and corruption which is the main reason the Buhari-led regime like the past governments formed by the PDP have failed to meet the needs of the poor masses.

The SPN holds that only a government with a socialist programme in which the needs of the masses form the basis of governance and policies side by side with nationalisation of commanding heights of economy under a democratic management and control by the working people can guarantee basic needs of the masses and sustainable infrastructure developments.

Except Buhari-led regime is replaced with a government that is committed to the implementation  of a socialist programme which SPN is committed to implement if it gets to power, any coalition of political parties that subscribe to capitalist philosophy of running the society will end up compounding the woe of the working people if  it replaces Buhari-led regime come 2019.

Abiodun Bamigboye; 
Acting National Chairperson 08033914091 

Chinedu Bosah; 
National Secretary ( 07033775517)