To Rescue Nigeria: We Must Go Into A War Mode

Proshare

 

I just received a text requesting for comment from one newspaper correspondent. He wrote about ‘rumours’ that the government is compelling all MDA s - Ministries, Departments and Agencies to reduce their budgets for 2019 and wanted to know the implications. In the news is also the fact that government has taken from the budget for education, health and other essentials, to fund the 2019 elections.  I met a director in one of the parastatals too who confirmed to me that government was broke. Now, what I don’t understand is how government can be broke but those top people who work for government can still have access to all the appurtenances of office. The pace of foreign travel by top directors have increased of late. Ministers and DGs no longer live in Nigeria. Yet government is broke. Broke when it comes to doing something real for the most-vulnerable Nigerians

 

It seems evident that we have to fight harder to be heard. The Buhari government cannot help itself even if its own life depended on it. The government is out of control and in a tailspin. So long as they resume daily and there is some borrowed fund to spend and keep up appearances, they keep going. We are a religious people and many people go through life hinging on prayers that tomorrow will suddenly be better. The government is poised to ignore all the arguments we. have put forward that this is not the time to reduce budgets. The essence of our petition though, is to call good attention to our budgets - the assumptions undermining them, the process of putting together, their emphasis and focus, their implementation. And that we are determined to do whatever it takes.


How someone responsible will ignore the FACT that our shambolic budgets are almost the lowest in the world in gross terms and the lowest compared to our GDP beats me. How enlightened people will not see the shame in this fact further knocks me out. How we justify collective mediocrity while chasing personal glory does my head in. Most Nigerians would even amplify the dismissive explanation that those in government put forward that ‘there is no money’.  There is no money when it comes to social services and provision of public goods, but enough when they want to gallivant across the world and back.  We must never kowtow to this newfound mediocrity.  Something must give. We must stay on this issue for as long as it takes. The few people who are watching the economy know we are in an inexplicable situation. The only group which gets some level of assurance from the Nigerian economy, are our foreign creditors.  No one can wriggle out of the obligations to these guys.  After that, government functionaries help themselves and the remaining 190million scramble over themselves to grab the crumbs like pitiable creatures. All my writeups is about how we can reform this system.

 

So, in addition to the Biblical wearing of sack cloths and sprinkling their bodies with ashes in a show of contrition, our leaders must thoroughly and totally forsake their ways in order for this country to avoid destruction. This is the time to cut all nonsensical spending. I will be watching the 2019 budget very keenly, like a hawk. I am just being proactive in shouting out now, because soon enough it will be too late to speak up. The budget would have progressed and will become intractable. And the 2019 budget will dictate how the next few years will go. The Medium Term Expenditure Framework has already been put together along the same mediocre, underachieving and anti-people lines. It must be thoroughly and summarily reviewed. I believe the government is listening though even if they pretend. The Minister for Budgeting and Economic Planning revealed last weekend that they will not be accommodating the usual mad purchase of luxury vehicles, residential houses, endless software purchase and other hopeless stuff that make it into the budget in this country year after year. The role of we the people is to ensure those items do not make it into the 2019 budget through the backdoor. Also we should make sure that whatever is on the budget works for the people. We must see how it trickles down. 2019 and going forward should be for irreversible, tangible achievements for Nigerians.

 

Let me tell you a story, dear reader. 

 

The USA went into the Great Depression in 1929. So also many top countries around the world. Next year 2019 will make that a 90 years anniversary.  Many people think the depression was triggered by the crash of the New York Stock Market in that year, but other scholars point to a combination of issues. The USA had just had a roaring 1920s. Then countries went into protectionism, and there were a few environmental mismanagement and droughts in the midwest, plus a misunderstanding of how to handle economic crisis as at that time. Some believe that pro-cyclical policies were adopted which deepened the crisis. This is somehow similar to Nigeria today. The government is cutting budgets, deepening the crisis, when it should be engaged in countercyclical policies that lift the country out of the current slump.  In economics, pro-cyclical policy are policies that perpetuate the status quo or deepen it. If you dont desire status quo, you apply countercyclical issue, which reverses current situations.   The permanent reality for countries like Nigeria has always been economic depression though. The symptoms are there; high poverty and hunger rates, high unemployment, high inflation, high crime rates, high corruption and nepotism and what have you. These have been our reality for as long as one can remember. It is also worth mentioning that since the Great Depression, no other OECD economy has admitted its economy being in depression anymore, and the economic term seem to have dropped off the lexicon.

 

So the American economy struggled through the 1930s. FD Roosevelt came up with a number of clever policies in his time, which only had marginal effect. It wasn’t until 1942 when he banned the purchase or sale of new cars for two years and directed car manufacturers to support the war effort and for every household to chip in that the USA finally got out of depression. If I may list the herculean efforts that lifted the USA I will count:

 

  1. Serious deferment of gratification
  2. Unparalleled cooperation and unity among the people. 
  3. Sense of purpose and direction on the part of the majority 
  4. Immense hard work on the part of most people who could work. 
  5. Using war mode to escape depression 

 

The fifth point is very important. I have always advised that Nigeria go into war mode against poverty and our permanent economic depression. That is how the problem must be approached. Our current and future presidents must see themselves as wartime leaders for as far as the eyes can see. Anything less is just akin to kicking the can down the road. 

 

Unfortunately for Nigeria, the society and economy has broken. We are now almost left carrying the baggage of a broken society and economy with the expected destruction that comes with it. To boot, we are not disunited and at war with ourselves. Instead of a war against poverty, we went into an undeclared civil war mode.  If you ask Nigerian politicians and top civil servants now to defer their gratification and stop unnecessary travels and purchase of luxury cars, they will argue with you. Someone will say now that its his turn you don’t want him to enjoy. If we say our civil servants should use the cars they’ve bought already for 4 years, they will throw tantrums.  If government functionaries are not ready to even put in the work and sacrifice, how then will they convince outsiders?  I can assure you dear readers that prayers will bot solve this problem. We just have to hold our noses and start diving down to the bottom of the sea like pearl hunters. Now is the time.  

 

 

Recent Articles From The Author

3.             How To Un-Break The Nigerian Society And Economy

4.             A Petition For Action – Increase The 2019 Budget To A Minimum Of N15 Trillion – Tope Fasua

5.             The Greatest Conspiracy Against Nigeria Youths

6.             A Federal Republic Of Inequality And Oppression

7.             ANRP Presidential Candidate Tope Fasua Speaks On The State Of The Nation

 

 

Proshare Nigeria Pvt. Ltd.

 

Related News

1.       What To Expect From The Markets This Week - 261118

2.      The Rich, The Poor and Buharinomics

3.      Headline Inflation Moderates To 11.26% (YoY) in October 2018; 2bps Lower Than September 2018

4.      Weekly Economic and Financial Commentary - WE 16th Nov, 2018

5.      9 Takeaways From LCCI 2018 Nigerian Debt Sustainability Roundtable

6.      The Economics of Wages

7.      How Bank Supports Economic Summit, Growing Local Enterprises

8.     FSDH Discusses Possible Implications of Continuous Drop in Oil Prices for the Nigerian Economy

9.      Special Report On Nigeria’s 36 States and FCT: Economic, Fiscal, Sectoral and Wellbeing Profiles

10.  Weekly Economic and Financial Commentary – WE 09th Nov, 2018

11.   Political Headwinds and Economic Challenges – LBS Executive Breakfast Session – Nov 2018

12.  Local Competitiveness: A Prerequisite for Inclusive Growth

 

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP