By Ndubuisi Ukah
To say that Nigerians are economically hurting at this moment is no exaggeration; to state that most Nigerians have never had it this economically difficult in their lifetime is not an overstatement; the fact that most Nigerians are out of work and go to bed hungry now is no longer news. The pains are palpable in the voices and faces of everyday Nigerians on the streets and in the work and market places across the land – driven by the current economic recession. And while it’s luring to heap the blame squarely at the doorsteps of fallen crude oil prices, it would be best to put the blame to where it rightly belongs – on our visionless and prodigal leadership class, who instead of building the nation’s future by responsibly planning ahead for times like these, irresponsibly chose to build and nurture an unprecedented corruption industrial complex.
To say that Nigerians are economically hurting at this moment is no exaggeration; to state that most Nigerians have never had it this economically difficult in their lifetime is not an overstatement; the fact that most Nigerians are out of work and go to bed hungry now is no longer news. The pains are palpable in the voices and faces of everyday Nigerians on the streets and in the work and market places across the land – driven by the current economic recession. And while it’s luring to heap the blame squarely at the doorsteps of fallen crude oil prices, it would be best to put the blame to where it rightly belongs – on our visionless and prodigal leadership class, who instead of building the nation’s future by responsibly planning ahead for times like these, irresponsibly chose to build and nurture an unprecedented corruption industrial complex.
What we are
experiencing right now in the country is a practical realisation of the
age-long saying that “he who fails to plan, plans to fail”. For decades, the
leadership class rather than engaging in the patriotic act of nation-building,
has spent most of their time perfecting the shameful act of betrayal of public
trust by repeatedly engaging in massive looting of our “easy-to-come” petro
dollars, at the callous expense of everyday Nigerians. Stories abound of
looting in the billions of dollars of monies earmarked for road construction,
Niger Delta development, power rehabilitation, refineries turn-around
maintenance, and fight against Boko Haram even as innocent Nigerians, women and
children were being raped, abducted and killed by the Boko Haram renegades,
etcetera. As such, in the light of the above and other several well-documented
gross mismanagement of our national wealth by an irresponsible, greedy and
visionless political class, it’s unfortunately, fair to conclude that the
current economic recession has been a long time coming.
It’s also
fair to acknowledge that all of these frustrations led to the CHANGE vote by
the Nigerian people in the last election. The election was simply aimed at
making a statement against impunity and business as-usual.
While the current administration has recorded some success in the areas of
reducing corruption in public service and curbing the free reign of Boko Haram
in the Northeastern part of the country, it’s clear to any objective observer
that not much has been done to instill needed confidence in the economy,
especially by way of sound fiscal and monetary policies. There doesn’t seem to
be a steady hand in-charge of the economy at this time and this doesn’t bode
well for the administration after 15 months of coming to power.
All one
hears most of the times on the pages of newspapers are platitudes and pockets
of incoherent and reactionary interventions by the apex bank. It is well known
that nothing hurts an economy and scares investors and the business community
during an economic recession more than equivocation and non-steady economic
steering hands. Considering that recessions are not uncommon in nations’ economic
lives, one tends to believe that what our economy is suffering more from right
now is not simply the recession, but the feeling of hopelessness in the
recession. A time as serious as this calls for decisive economic leadership and
clarity of direction.
Mr. President, if I
were you, I’ll be on national television engaging in question and answer
sessions as often as possible, explaining the present economic problem and
possible solutions in very simple and clear terms to the Nigerian people. You
owe it to them and they rightfully deserve it. The Nigerian people are hurting
so much right now and they don’t seem to get the sense that someone is caring,
listening and doing something to alleviate their sufferings.
The Nigerian people are a smart people; they get the fact that the problem did not emanate with this administration, but they also understand that things could really get worse if nothing urgent and serious is done right now by the administration to stem this ugly tide.
The Nigerian people are a smart people; they get the fact that the problem did not emanate with this administration, but they also understand that things could really get worse if nothing urgent and serious is done right now by the administration to stem this ugly tide.
Mr. President, there
has to be that sense of the fierce urgency of now on the economy, just like
you’ve demonstrated in the fight against Boko Haram and corruption. This time
calls for you to seek help from the best Nigerian economic experts wherever you
can find them.
