By Fem Aribasala
When Buhari seized power, Nigeria ’s
GDP was $444. When he was overthrown in 1985, Nigeria ’s GDP had dropped
dramatically to $344. When Buhari seized power, one dollar exchanged for 0.724
naira. But by the time he was overthrown, one dollar exchanged for 0.894 naira;
a 23% devaluation in barely two years. It was not surprising, therefore, that
there was wild jubilation throughout the length and breadth of Nigeria when
Buhari was overthrown.
*Buhari |
Litany Of Failure
History is now
repeating itself in Nigeria .
Since electing Buhari as president one year ago, Nigeria’s GDP has plummeted,
with the economy suffering a negative growth in the first quarter of 2016; the
worst in 25 years. Prices have skyrocketed. Investors have packed their bags
and left Nigeria .
Job losses and lay-offs have increased geometrically. Petrol stations have
surreptitiously doubled their prices. Nigeria is now on the cusp of a
recession.
Buhari was handed over
$30 billion in foreign reserves by the Jonathan administration. He inherited
over $2.5 billion in the Sovereign Wealth Fund; $1.4 billion in the ECA; and
$4.65 billion in back taxes from NLNG. But virtually all of this has been squandered
in one year of gross incompetence.
The president took the
illegal and ill-advised step of providing N713 billion as bailout for insolvent
state governments, without the approval of the national assembly, only to
discover that those monies were squandered and not even used as intended to pay
salary arrears. He squandered billions of dollars defending doggedly an
unrealistic official value of the naira, only to finally admit defeat after the
damage had been done.
Billions of dollars
were mopped up by corrupt officials and shrewd middlemen who obtained dollars
at the official N200 to $1 rate, only to sell this for huge profit at the N380
to $1 black market rate.
Babatunde Fashola
boasted while in opposition that: “A
serious government will fix the power problem in six months.” Now in office
as Minister of Power for over six months, power blackouts have been
unprecedented under his watch condemning the Buhari administration by his own
words as a most unserious government.
Change For Worse
Goodluck Jonathan warned
Nigerians about the bankruptcy of Buhari and the APC. His words have now become
prophetic. He said in the heat of the 2015 election campaign: “The choice before Nigerians in the coming
election is simple. It is a choice between going forward and backward, between
the new ways and old ways, between freedom and repression, between a record of
visible achievements and beneficial reforms and desperate power seekers with
empty promises.”
After 365 days of a
disastrous Buhari presidency, only diehard Buharimaniacs can deny that
Jonathan’s warning has not come true. Propaganda has an expiration date, and it
must now be abundantly clear that the expiration date for the hot air of
Buhari’s government has long passed. Many of those like Dele Sobowale, Oby
Ezekwesili and Wole Soyinka, who sang the praises of Buhari during the 2015
election, are already having a buyer’s remorse. Most Nigerians now realise they
have been sold a fake bill of goods by Buhari and the APC.
Buhari’s maladroit
approach to Nigeria ’s
diversity has created new fissures. Fulani herdsmen continue to kill innocent
farmers while Buhari sees no evil and hears no evil. We are now saddled with a
burgeoning secessionist movement that gets more incendiary by the day as the
government continues to violate Nigerians’ right to self-assembly by shooting
down pro-Biafra activists.
Even more devastating
is the fact that Buhari’s body language of Northern domination has energized an
irredentist movement in the Niger Delta dedicated to blowing up Nigeria ’s economic
jugular of oil pipelines and installations. As a result, Shell has had to shut
down its Forcados terminal. Chevron’s Escravos operation has been breached. ENI
and Exxon Mobil have declared “force
majeure.” The outcome is that Nigeria ’s oil production is now
down from 2.2 million barrels a day to 1.4 million.
Under the
circumstances, how can the government possibly celebrate its one-year
anniversary except by attempting to pull the wool over the eyes of Nigerians?
What precisely can Buhari claim credit for in his one year of woeful,
do-nothing presidency?
Sound And Fury Signaling Nothing
In his speech to
Nigerians on his anniversary, the President claimed: “We identified forty-three thousand ghost workers through the
Integrated Payroll and Personnel Information system.” This is a case of
taking credit where credit is not due because of failure to achieve. The
Integrated Payroll and Personnel Information system is a legacy of the PDP
administration. It was introduced by Ngozi Okonjo-Iwealla in 2007. Therefore,
it is disingenuous for Buhari to try to get credit for it.
Buhari also said: “The first steps along the path of
self-sufficiency in rice, wheat and sugar, big users of our scarce foreign
exchange, have been taken.” But Mr. President, the first steps were not
taken by your government. If we are well on the way to self-sufficiency in food
production, it is because of steps taken by the Jonathan administration, under
the transformative leadership of the Akinwunmi Adesina as Minister of
Agriculture.
It was under Jonathan
that dry-season rice farming was introduced, enabling Nigeria to
reach 60% self-sufficiency in rice production. It was under Jonathan in 2014,
and not under your administration in 2015/16, that Olam Rice Farm, the biggest
rice-processing mill in Africa, with 105,000 metric tons capacity, was
commissioned in Rukubi, Nasarawa
State .
The president said
furthermore: “We are projecting non-oil
revenues to surpass proceeds from oil.” Again, this would not be as a
result of any government-induced improvement in the non-oil sector of the
economy but would simply be as a result of the decline in oil prices.
Buhari acolytes fanned
out in the media, giving him credit for the TSA, even though it was the
brainchild of the Jonathan administration. They credit him with the TSA, not
realising its imprudent timing has provoked the widespread sacking of bank
employees. They claim bombastically that as much as N2.2 trillion has been
saved through the TSA. At the same time, Lai Mohammed and Rotimi Amaechi are sent
to convince Nigerians the country is broke.
Buharimaniacs even
claim the president’s outrageous 30 junkets abroad within the year of Nigeria ’s economic adversity have ensured Nigeria is no
longer a pariah nation. However, Nigeria
was not a pariah nation before Buhari came: Nigeria has become a pariah nation
since the coming of Buhari. Before Buhari , Nigeria was the number one destination-country
for foreign investments in Africa . Since
Buhari’s arrival, foreign investors have left in droves.
Goodbye To Change
To demonstrate to
Nigerians that his anti-corruption policy is achieving great success, Buhari
promised to publish the names of those who had returned looted money to the
government. This would confirm once and for all that the government’s
anti-corruption program is an effective tool for re-harnessing the nation’s
lost resources.
But having won
plaudits for this pledge, the government no longer had any need for it. It soon
became another casualty of its APC (All Promises Cancelled) tendency. No
sooner had the promise been made than the announcement came that the government
would no longer be releasing the names. But should a president make promises
without first thinking it through? Would this tendency not convince the
international community that the government of Nigeria cannot be trusted?
The government’s
last-minute excuse that it changed its mind because it does not want to
embarrass those returning the monies is not credible. This administration
routinely leaks to the press the names of those under investigation by EFCC.
That means it names publicly those accused of corruption even when they have
not been convicted of corruption. Now it wants us to believe it is reticent
about naming those who took government money and agreed to return them.
The government’s
disdain for promises made continued. On 30th May, 2016, while hosting State
House correspondents in Aso Rock, the president told Nigerians the change mantra on which he fought and
won the 2015 election has been thrown out of the window. He said: “We recently just found out that we are poor
because we don’t have anything to fall back to. This is the condition we found
ourselves and this change mantra had to go through hell up till yesterday.”
Having suddenly
discovered, after one year in office, that rich Nigeria is actually poor, the
president then sent Lai Mohammed to tell Nigerians the government has recovered
a whopping $9 billion of loot from PDP politicians. Just how poor does that
make the government?
Contradictions Galore
It is more than abundantly
clear that the Buhari administration simply cannot be truthful. How can the
government be poor, and at the same time have $9 billion recovered from
looters? How can the government have $9 billion recovered, yet it went
cap-in-hand to the Chinese seeking a loan of $2 billion? If $9 billion has been
recovered, then Nigeria
is not broke. If $9 billion has been recovered, the government should now be
able to fulfil its failed campaign promises.
This is what the
president said one year earlier: “The
monies we realise from anti-corruption campaign will be adequately used to
improve education in the country.” “The money saved will finance jobs,
health-care and the provision of social safety net for the needy, weak and
vulnerable of our land.” In which case, many of our problems should soon be
over if in fact the government’s anti-corruption campaign has been as effective
as we are now meant to believe.
But if you believe the
government has actually recovered $9 billion from treasury looters, then you
have learnt nothing about this government in the past year. The truth of the
matter is that whatever this government says must be taken with a very large
grain of salt. Adams Oshiomhole had told Nigerians a U.S. government official revealed
to him that one single Nigerian stole a massive $6 billion under the Jonathan
administration. So how come the government has only managed to recover $9
billion from the entire country after one year of highfalutin media hype?
The government’s
approach of revealing unverifiable figures of recovered loot without the names
of those from whom they were recovered reeks of corruption for lack of
transparency. If, as I have maintained elsewhere, Lai Mohammed is Nigeria ’s version of Iraq ’s
Comical Ali, then the recovered $9 billion must be synonymous to Iraq ’s weapons
of mass destruction which could nowhere be found.
There is no way of
knowing if the figures released by the government are true or fiction, because
the names of those allegedly returning the money are not mentioned alongside
how much they returned. If they are named and shamed, the looters themselves
can verify if the amount declared is more or less than what they returned.
Covering up the names simply provides avenues for whatever loot is recovered to
be re-looted by government accomplices.
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