– At Ibrahim Babangida’s Book Launch of A Journey in Service on Thursday, February 20, 2025
Nigeria is a country of immense wealth and potential, yet it continues to struggle with widespread poverty, poor infrastructure, and economic instability. Despite these challenges, a culture of extravagant spending and financial waste persists, particularly among the elite. One of the most recent and striking examples of this was the book launch of A Journey in Service by General Ibrahim Babangida on Thursday, February 20, 2025. At this event, billions of naira were pledged in donations, highlighting the deep-seated tradition of financial excess that has long defined Nigeria’s political and business landscape.
While such donations may be viewed as a display of generosity or support for intellectual endeavors, they also raise serious questions about the country’s priorities. How can billions be donated at a social event while hospitals remain underfunded, universities are on strike due to unpaid salaries, and millions of Nigerians live in poverty? This essay explores the implications of such financial extravagance, the culture of wasteful donations in Nigeria, and the urgent need for a shift towards responsible financial management and philanthropy.
The Culture of Lavish Donations in Nigeria:
Nigeria has a long history of high-profile events where individuals and organizations pledge massive amounts of money, often in a bid to demonstrate wealth, influence, and political alignment. Book launches, weddings, birthdays, chieftaincy coronations, and even funerals have become platforms for financial spectacle. The launch of A Journey in Service followed this trend, as prominent politicians, business tycoons, and government officials publicly announced their multimillion and billion-naira donations.
At the event, leading figures from both the public and private sectors seized the opportunity to pledge large sums of money, some undoubtedly seeking political favor or business advantages. This practice is not unique to Babangida’s book launch; it is a deeply ingrained aspect of Nigerian elite culture. While some of these donations are genuine, many are made for show, with little intention of actual payment or real commitment to social good.
Moreover, the motivations behind such donations are often questionable. Some donors use them to launder money, evade taxes, or secure government contracts. Others see them as investments in future political ambitions, hoping to gain favor with influential figures. The end result is a cycle of financial excess that does little to improve the lives of ordinary Nigerians.
Economic Hardship vs. Elite Excess:
The billions of naira pledged at Babangida’s book launch stand in stark contrast to the economic reality facing most Nigerians. The country is currently dealing with inflation, currency depreciation, high unemployment rates, and deteriorating public services. Despite being Africa’s largest oil producer, Nigeria struggles with fuel scarcity, power outages, and a weak healthcare system.
Educational institutions frequently go on strike due to unpaid salaries and lack of funding. Many hospitals lack basic equipment, forcing Nigerians to seek medical care abroad if they can afford it. In rural areas, poverty is widespread, and millions lack access to clean water, electricity, and quality education. Given these challenges, the spectacle of billion-naira donations at a book launch seems not only wasteful but deeply insensitive.
One must ask: if the elite can afford to pledge billions at a social gathering, why are they not directing such funds toward addressing Nigeria’s pressing issues? If a fraction of these donations were channeled into public health, education, and infrastructure, the country could make significant progress in improving the lives of its citizens.
The Lack of Transparency and Accountability:
Another issue with these extravagant donations is the lack of transparency regarding their actual impact. In many cases, large sums pledged at public events are never fully redeemed. Donors may announce enormous contributions for the sake of publicity, but there is no system in place to track whether these funds are actually paid or utilized for meaningful causes.
Even when such donations are collected, they are often mismanaged. Without proper oversight, funds may be diverted for personal gain rather than being used for constructive purposes. This lack of accountability further reinforces Nigeria’s culture of financial waste and corruption.
To curb this problem, there should be mechanisms to ensure that public donations are properly documented, monitored, and utilized for genuine developmental projects. Regulatory agencies, civil society organizations, and the media must play a role in holding donors accountable and ensuring that their contributions serve the public interest.
The Need for a Change in Priorities:
If Nigeria is to progress, its elite must change their approach to wealth and philanthropy. Instead of using social events as platforms for extravagant financial displays, they should focus on impactful, sustainable investments that address the country’s most urgent challenges.
For example, rather than pledging billions at a book launch, donors could invest in:
Education – Funding scholarships, providing resources to schools, and supporting research and innovation.
Healthcare – Building hospitals, equipping existing ones, and sponsoring medical outreach programs.
Infrastructure – Investing in roads, electricity, clean water, and public transportation.
Job Creation – Supporting small and medium enterprises (SMEs), skill acquisition programs, and entrepreneurship initiatives.
Public Accountability Initiatives – Funding organizations that promote transparency, good governance, and anti-corruption efforts.
Philanthropy should be about making a real difference in people’s lives, not about showmanship or political maneuvering. Nigeria’s wealthy elite have the financial capacity to drive significant change, but only if they redirect their resources toward meaningful development rather than wasteful public pledges.
In conclusion, the billions of naira donated at Ibrahim Babangida’s book launch on February 20, 2025, are yet another reminder of Nigeria’s culture of financial waste and misplaced priorities. While book launches and other social events are important, they should not become arenas for extravagant spending while the majority of Nigerians struggle with poverty and economic hardship. The display of affluence is quite disturbing and nauseating at a period of economic downtime like this in Nigeria.
It is time for Nigeria’s leaders, business moguls, and influencers to rethink their approach to wealth and philanthropy. Instead of engaging in wasteful public pledges, they must focus on sustainable investments that genuinely improve the nation’s welfare. If Nigeria is to fulfill its potential as a prosperous and equitable society, financial responsibility, transparency, and strategic philanthropy must replace the culture of reckless extravagance.
The billions in donations at Babangida’s book launch should serve as a wake-up call. The real “call to service” should not be about funding elite events—it should be about serving the Nigerian people and building a better future for all.
Prof. Funmilayo Adesanya-Davies, a Nigerian former female Presidential Candidate is a Professor of Applied Linguistics, a Political Analyst and a Public Commentator.
