SPENT FORCES HEADING FOR SDP – Old Wine in Search of a New Bottle

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By Dr. Shola Agboola

I have tried to ignore the hilarious excitement surrounding the decision of some so-called political heavyweights to join the SDP, but it has become increasingly difficult for me to resist the urge to retrospectively examine their past.

One must wonder whether those celebrating their anticipated arrival were not present in this same Nigeria when these overnight political idols held various political and executive positions. It’s either they are unaware of the havoc these individuals wreaked on our nation or they simply prefer to be accomplices in their shady and criminal enterprises.

Whatever their cumulative intentions may be, the SDP should never become a dumping ground for political has-beens gearing up for the 2027 general elections. Rather than deceitfully courting political personalities of questionable character to team up with them, the so-called leaders of our party should focus on internal reconciliation—as directed by the Federal High Court, Abuja—if they truly mean business. This would be far better than selling off the SDP to the highest bidder.

After all, many members of the so-called NEC have developed protruding bellies, thanks to the money made through the party. If they wisely prioritize internal cohesion without anyone being made to feel like a loser, party members might be willing to overlook the unconstitutionality of Gabam’s entrance into the SDP and the illegitimacy of his current national chairmanship—which is erroneously recognized by INEC.

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Before we begin to sing praises of these new joiners, let us remind ourselves—or educate the budding politicians in our midst—about the legacies of some of those they eagerly await:

ATIKU ABUBAKAR:

• Aluminium Smelter Company, Ikot Abasi
  Originally valued at $3.4 billion, Atiku sold a 70% stake for just $250 million. The undervalued sale led to a legal battle between a Russian company and a Nigerian, Ruben Jaja. The conflict ultimately led to the company’s collapse.
• NITEL
  In 2001, Atiku and Obasanjo decided to sell NITEL, then worth $2.4 billion (over N4 trillion today). It was sold for a paltry $252 million. A legal battle soon ensued between Tunde Ayeni’s NATCOM and Tony Elumelu’s TRANSCORP. The dispute was settled by liquidating NITEL.
• Ajaokuta Steel
  Before it was earmarked for sale, Ajaokuta was valued at $8 billion. Legal battles among Nigerian, Indian, and Russian firms dragged on from 1999 until 2022. Buhari’s administration eventually agreed to pay $496 million in settlement. This was a plant that was already 98% completed by 1994.
• Aladja Steel Company
  Valued at over $700 million, it was sold off during the Atiku/OBJ regime for a bonanza price of $30 million. Ownership disputes remain in court to this day.
• Mambilla Hydropower Project
  This project was expected to generate over 3,500MW of electricity. Due to various contractual confusions, numerous legal tussles have persisted—some of which involve current SDP leaders.

Should we, as a party, continue to welcome those whose principal legacy is the destruction of Nigeria’s key assets?

I personally expect the SDP’s 2027 presidential aspirant—a sociopolitical critic and internationally recognized legal luminary—to lead the charge in keeping political liabilities at bay, while carefully and methodically prosecuting his 2027 project. That is a better path than embracing cankerworms preparing to bore into the nerve centres of both the SDP and Nigeria.

Let’s shine our eyes.

Dr. Shola Agboola writes from Ondo State.