*Buhari |
You stoked
price vectors to let the inflation genie out of the bottle and then burnt up
Nigerians’ cash assets with 68% Naira devaluation starting in the last week of
May, after increasing electricity tariff by 45% in March and after
increasing pump price of petrol by 67% few weeks earlier, to send all
things up in the air – with nothing settled as yet; not even Nigeria itself, which badly convulsed in feverish price hikes, country-wide, after reeling for
long from rocket-propelled grenades fired by hundreds of militias doubly armed
with improvised explosives now rampaging all across Nigeria.
As news of Nigeria ’s mounting horrors spread, London ’s Evening Standard reported it on September 7:
“Western firms can be forgiven for shying away from investing in Buhari’s
Nigeria ,”
the Evening Standard said – with reasons ranging from untrammeled treasury
thefts to your having no clearly seen honest resolve to fight corruption. A
slew of foreign investors may as well be closing its files on Nigeria . They
are reportedly put off by the way things are going awry.
Schools crumble in Nigeria
without books as hospitals lay bare without imported medicines – all of which
can’t be bought at the current price exchange rate of N425 to a Dollar versus
the much lower April exchange rate of N260 to one Dollar. Workers are being
laid off in thousands and the casualties near 4.5 million Nigerians sacked
under your 15-month perplexing regime, according to anecdotal evidence.
Those
spared mass sackings are pitch-forked to half salary – in defiance of anything
contracts law say on the sanctity of existing agreements in an increasingly
anomic Nigeria – where, besides routine beheading on the streets from
neighbourhood spats, the Court of Appeal in Lagos division then declared a few
weeks ago that wearing the Muslim Hijab head-cover is superior, as Islamic Law,
and overrides any other law that a state government may enact as ‘school
uniform rule.’
A false
bottom for this rather zany declarative order was quickly constructed
judicially and called ‘fundamental human rights’…in a country contradictorily
self-described in its 1999 Constitution as ‘secular.’ In just under 16
months Nigeria
now looks eerily strange – like a horror film – to those looking in from
outside.
But to be
sure, Nigeria
was not as much a puzzle or hardscrabble place as this. Nigeria was,
contrarily, a fragile and less horrific and much less hopeless place. So,
what happened to CHANGE, President Buhari? That’s the crux. No two broom-wavers
on your APC side of the Nigeria ’s
party politics divide ever understood what CHANGE means from get-go. In
retrospect, it would seem like a mere slogan just thrown in to replace absent
thought-process inside the party. It could even be worse. For after you won the
election on that abstract sloganeering you alone now have the writ to decide
what CHANGE means for a whole nation, since your party members were just
carried away by the sound of that word and mindlessly ran to town with it.
The winds
can only assist a bird which already has a direction, the old wit says. Without
clarity of thought on the gritty specifics of CHANGE – which should encapsulate
a theory of state in ideological terms – the winds cannot assist the APC’s
bird’s flight to anywhere. That’s why Nigeria looks more driftless; like
flotsam and jetsam on the high seas, just being blown away with sea currents,
and without volition or direction, in negation of the purpose and meaning of
‘government’.
Today, if
it is systems-analysed for structural functionality, Nigeria is closer to a failed
state. Indeed, Nigeria
is today precariously placed 14th from the bottom of the Index Of The World’s
Failed States. The question will then recur: ‘Whatever happened to CHANGE’?
It is neither obvious nor felt. That’s why many foreign investors hiss at the
cheapened Nigerian currency from your devaluation and still resist rushing in
to buy up the country’s assets for peanuts. They simply don’t see a plan of
what will happen next to their imported capital should they gamble on Nigeria .
A foreign
investor wishing to set up a manufacturing business in Nigeria will
need advanced calculators for starters. His imported dollars will firstly be
converted by the bank at 320 to a dollar. The investor will then confront a new
price structure on the streets where his converted dollars in Naira will then
have to chase mostly imported inputs at the rate of 450 Naira to a dollar.
That’s besides a different set of existential crises of non-available electricity
supply and no water running since from the taps in Nigeria ’s
commercial capital city of Lagos
to do any basic manufacturing or even flush a toilet.
Since July
when Nigeria was driven by your trial-by-error government into economic
recession, after two consecutive quarters of negative results from
Nigeria’s import/export trade – on the back of high inflation from your price
vector devaluation – with petrol pump price hike added, now made
worse by slackened effective demand as a result of massive retrenchment of
workers, and yet, made worse still by recent increase in bank lending rate to
over 20% – in a theoretical fight against inflation – investors don’t see
these reflexive and reactive actions as tantamount to a policy on how to exit
an economic recession.
Truth is,
without an intelligent exit plan disclosed in clear details to the public, it
is par for the course Nigeria
would spend several years badly mired in this economic recession with worse
consequences for political stability of Nigeria .
It is in
that vortex that your approval rating dropped to 32% today, according to the
GAIN POLL, because a beclouded leadership usually won’t inspire. That’s why Nigeria also
fades away from the horizon of the international community which is too busy to
do a mind-reading or worry over another country’s leadership which has no
direction after 15 months in office.
Mr.
President, getting one’s country into a recession is terribly bad. That’s
exactly what cost President George H.W. Bush his job, especially when Bush’s
approval rating plummeted to the depths where yours is stuck today. Getting
into a deepening recession with a blank head and without any intellectual plan
on a means of escape, is worse. You cannot be the lightning rod of a whole
nation, and its sole hope of CHANGE, and still be its sole repository of
knowledge on how to exit from crushing economic recession. You can’t be all of
those things at the same time, Mr. President, and claim to be running a
sensible or modern government.
The point of living in a big country is to draw from the intellectual strength
in the country. Not all persons are looking for money. There are Nigerians who
prefer honour to money and will feel more fulfilled to rise to the occasion and
answer a patriotic call to help push Nigeria gingerly back from the
precipice of the abyss. But that cannot even happen if your government is
insular and will not reply letters on policy matters, as your Chief of Staff,
Abba Kyari, is wont.
Best of
luck to you Mr. President on the intentional but dire choices you make for
yourself.
*Awofeso, a legal
practitioner, is resident in Lagos .
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