As Nigeria Seeks Economic Remedy

Presently, any sane individual or entity that truly means well for Nigeria ought to be concerned with the required remedy for the country’s myriad of economic challenges.

In any circumstance, while searching for the most viable way of putting a holistic end to any menace, it’s imperative to first ascertain the origin of the plight. In view of this, there’s a compelling need to look inwards towards unraveling the genesis of this apparently poignant state.

In some quarters, people are of the view that the predicaments are attributable to the 16-year ‘misrule’ of the People’s Democratic Party (PDP). Whilst many persons are preoccupied with a belief that the plights are attributed to so many promises made by the current ruling party, the All Progressives Congress (APC).

In other quarters, most individuals are of the notion that most of the ongoing crises were occasioned by Nigeria’s unending sole dependence on the oil sector. Among all, some schools of thought are strongly of the opinion that the origin of the state of poignancy is particularly traceable to the presumed high level of docility that marred the Goodluck Jonathan-led leadership.

Notwithstanding, there are two major factors responsible for the tantrums and brouhahas currently ravaging all facets of Nigeria’s socio-economic and political space. First, those who are negatively affected by the ongoing anti-graft war or who have perceived a ‘witch-hunt’, as the case may be, had vowed to make the country ungovernable.

The second factor is skepticism on the part of the governed. Most Nigerians had been and are still skeptical over the established notion that President Muhammadu Buhari was the awaited Messiah; they are still in doubt over the sincerity surrounding the ongoing anti-corruption war; the electorate are doubting the ability of the present administration to lead the country to the anticipated promised-land.

It’s invariably the prerogative of everyone to nurture any opinion. But for the interest of Nigeria who is already crying foul, we are not meant to be concerned or bothered over people’s personal opinions, rather how to salvage them from this untold hardship irrespective of whose ox is gored. Thus at this juncture, the most consequential and rational question becomes, what’s the panacea?

For the present administration to be thoroughly described and recognized as a responsible and responsive government, it must be ready to absorb constructive criticism, which remains an inevitable veritable tool in nation-building. It’s expected to spread its hands open for any form of criticism that is aimed at addressing any anomaly or ill.

In the same vein, the leadership must at all cost be willing to adhere to the principles guiding the rule of law. If anyone detained by the Economic and Financial Crimes Commission (EFCC) or the Department of the State’s Service (DSS), or other related agencies, has reached or tendered all the required conditions to be bailed, he should be released without much ado prior to when next he would be needed for further scrutiny or interrogation.

It’s only the military that does not understand the language of bail. To restrict the person’s movement afterwards, they ought to endeavour to seize his/her International Passport coupled with other traveling documents.

Similarly, anyone who is still in detention that pleads to be allowed to see his doctor abroad or claims to be passing through a severe medical condition, should be allowed to travel out, but in custody of a reliable security team. Better still his doctor should be invited to attend to him in the cell.

It’s noteworthy that the person’s health condition is very crucial in such a situation; a detainee must be medically sound to enable them pass through any stress during arraignment. In other words, one must be alive to attend to any query.

More so, the government ought to be prepared to charge accused persons to court without much ado. Constitutionally, it’s only the judiciary that has the immunity to tender justice. Alleged looters or corrupt individuals cum organizations shouldn’t just return stolen monies and be allowed to get away scot-free. If such practice is being upheld, subsequently public office holders would attempt to steal funds in their custodies since they would only be asked to return them if caught in the process.

In the same vein, the judicial custodians or members of the bench must endeavour to give speedy hearing to any prosecution with a view to salvaging the electorate from the bondage of unending suspense invariably witnessed during court proceedings.

Regarding the renewed Biafra agitation, the government is enjoined to handle the matter with optimum diplomacy. First, it ought to endeavour to unravel what actually prompted the reemergence of a protest believed to have faded off long ago. It ought to equally be noted that the aggrieved group has a constitutional right to ask for freedom if it felt marginalized, hence the need to grant its members a fair hearing. Thus, the treasonable felony established against the leader of the Indigenous People of Biafra (IPOB), Mr. Nnamdi Kanu should be reviewed in earnest for the interest of Nigeria at large.

It’s worth noting that the budget remains the bedrock of any nation’s quest for development. Taking into cognizance that currently, none of Nigeria’s fiscal budget could be aptly financed without indulging in borrowing, it’s obviously highly time the government thought outside the box. To ensure a feasible budget, the government must not compromise every effort targeted towards diversification of the country’s economy as it has unabated been sung in various quarters and fora by well-meaning analysts and social commentators.

Against this backdrop, I enjoin the government to take sectors such as education, health, power, science and technology, tourism, agriculture as well as solid minerals, as priorities. These areas that have hitherto been maltreated and relegated need to be strengthened and resuscitated headlong.

Taxing the poor masses by outrageously hiking their electricity tariffs as well as imposing stamp-duty charges on their transactions isn’t the panacea. Honestly, if the needful is done or taken care of as expected, there won’t be any need to sub-charge ordinary citizens; also, the ongoing continuous decline of the crude-oil value would be seen as a blessing in disguise.

The education arena requires a drastic upgrade or total overhaul in order to encourage entrepreneurship among our young ones. Isn’t it ridiculous that among the best one thousand universities in the world, no Nigerian university is included?  Yet, on a daily basis, millions of naira are being transported to foreign countries by most Nigerian parents or guardians, who are mostly serving/past government officials, to cater for their wards’ tuition fees.

The health sector too, cannot be neglected because billions of naira are equally invariably sent to foreign nations by the rich, for payment of medical treatments at the expense of our foreign reserve.

Nigeria is tremendously blessed with enormous cultural heritage, thus it’s time she harnessed the viable and lucrative ones for the sake of tourism. Similarly, it’s so pathetic that the farmers are still using farming implements used by their forefathers.

The governors, rather than depending solely on the federal allocation, ought to be mandated to follow suit as regards diversification of the Internally Generated Revenues (IGRs) in their respective states, to enable them not to see payment of the current national minimum wage as a far-fetched consignment as it’s presently witnessed.

Inter alia, the leaders are expected to note that Nigeria requires meritocracy in a bid to actualize her anticipated change or economic turnaround. People should be considered important and relevant based on their abilities and competence rather than their wealth, social statuses or political affiliations.

The electorate on their part must desist from a cantankerous lifestyle. They can’t continue sitting on the fence and expect miracles to happen.