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One year of change gone

By Gerald Nwokocha
08 June 2016   |   1:06 am
The coming of the “change” government a year ago was full of expectations because Nigerians believed in the man that was going to be at the helm of affairs.
 Buhari at Eagle Square, Abuja, during his inauguration as the fifth President of the fourth Nigerian Republic.

Buhari at Eagle Square, Abuja, during his inauguration as the fifth President of the fourth Nigerian Republic.

One of the major issues that have drawn us back as a country is that we don’t tell ourselves the truth. We hide the truth. Even the media practitioners who are supposed to be unequivocal in telling those in authority and the populace the truth seem to have allowed sentiment to play out thereby joining hands in promoting impunity. When those in positions of authority do wrong, the media has even helped to shield them.

The coming of the “change” government a year ago was full of expectations because Nigerians believed in the man that was going to be at the helm of affairs. Also, the urgency to have another set of people run the affairs of the country was a factor. Nigeria has convulsed in a series of twitches after the first one year in office of the current administration. The one-year advent of the Buhari Administration has witnessed policy flip-flops and no clear direction to guide and shield the wobbling economy. Virtually, the Administration has been rated low in the last one year.

They said 100 days in office was too early to judge the administration. Then we waited for six months. When it was six months, the apologists of the Administration said that six months was too early to begin to put the country in the right track. Then we gave them one year. The government re-introduced the same forex controls and import licensing that failed in 1984, and have failed in about 60 countries of the world.

The Administration has been characterised by prejudices, and insincere and weak strategies to fight corruption fight holistically to the extent that once you belong to the party, you are given a waiver. Ask me how? Some of the names mentioned in the Dasukigate who later defected to APC towards the end of last year, 2015, and early this year have not been prosecuted by any anti-graft agencies. If they tell you they are unbiased, ask them why they quickly jettisoned the ‘Halliburton scandal’ probe as soon as it was called up.

They told the world that Nigerians are ‘bad people’ not knowing that by so doing, they have made investing in Nigeria to become a big risk.

Nigeria dropped from No.1 Investment destination in Africa to No.27 before South Sudan. Some foreign companies mostly in service industry left the country. According to a recent statement by the National Bureau of Statistics, 4.3 million jobs were lost in 10 months. Food scarcity has returned to the country with prices of commodities skyrocketing.

The GDP growth rate crashed to a 25-year low. Counterproductive monetary policies, looming unemployment crisis, Forex crisis, economic recession became the order of the day. The administration has boosted fuel crisis, electricity crisis and inflation.

The trust of Nigerians in the Nigerian nation also diminished drastically owing to proven signs of Ethnicity, hypocrisy and nepotism in appointments and governance. The security of life and property could no longer be guaranteed because of the multiplicity of terror groups. The failure of the administration to embrace inclusivity has given rise to the emergence of Niger Delta Avengers. The emergence of Fulani killer herdsmen, with miniscule strategies to contain them.

We’ve seen lies, propagandas and denial of campaign promises. Some cabinet members lack independence from the President to do what is right, and there is a communication breach between the government and the governed. A promise made is a debt unpaid (Robert W. Service). Even if the promise is not important, a promise should always be fulfilled.

Not a grain of corn or tomatoes seed was provided to the farmers. Instead, the fertiliser subsidy was taken away. However, we must appreciate the strides in the areas of TSA, improved foreign relations and gallant efforts at combating Boko Haram.

An economist and former Executive Secretary of the African Petroleum Producers’ Association, APPA, Mr. Dave Liaji, said the “Change” government is yet to find its bearing since coming into power on May 29, last year. He said: “As far as I can see, there is no reason to believe that this Administration has got its bearing right in the management of petroleum sector policies and it’s not for want of brilliant minds within its ranks.

“My fear is that if the President insists on running Nigeria’s oil and gas sector with the paradigms of the late 1970s or of the mid-1980s when he held the positions of Federal (military) Commissioner for Petroleum Resources, and was (military) Head of State, respectively, he may not achieve the intended and desired results. In the former periods, the preferred route was for the public sector (i.e. government) to occupy the “commanding heights” of the national economy (“crowding out” the private sector).”

On the other hand, oil discovery in the country has made some youths to be lazy, bringing about over dependence on oil production. One day, oil well would run dry but then what happens to those countries that oil is their main stay of their economy? Most countries of the world have diversified their economy. Brazil is a major producer of Jets today aside from doing well in agriculture. The United Arab Emirate (UAE) a major oil rich country did not rely on oil. They thought of an alternative way of creating wealth. They started spending on tourism. If you say they predicted the future, you may not be wrong. If they kept relying on oil, then when the oil dries up or when there is a drop in the oil price, what would become of them?

Now, imagine just a drop in oil price, is already making Nigeria run into recession. This is because we allowed the boom in the oil price to consume us and made us lazy to plan for the rainy days. “When you fail to plan, you fail to succeed.”
Nigeria’s problem is simple. We just bought that mentality of total dependence on oil and gas, forgetting that there are many other areas we can venture in to create wealth and drive the economy outside oil.

One of the things that helped Malaysia and Singapore to stimulate their economy from third world country was education. We have not yet tapped into the potent power of education. When you invest so much in your educational sector, indirectly, you are promoting productivity and in turn, enjoying the dividends in your economy. Can a typical Nigerian engineer be involved in a Robotic Modified Research work if a standard Institute is provided? Can a typical Nigerian agricultural graduate be involved in a genetically modified plant research if a standard Institute is provided? Can a Nigerian Medical graduate be involved in Neurological Research work if an Institute on that is provided? Truth is, we have brilliant people down here but our schools are not equipped. And it will surely in turn come to affect our economy (productivity).

We have also seen that the country has in recent times, witnessed a high interest rate, inflation, reduced consumer confidence, reduced real wages, decline in gross domestic product (GDP). Already there is a general increase in the prices of goods and services but a drastic decline in employment and workers salary. There is also a drop in the stock market and a decline in the housing market. With all these factors, ravaging our economy in recent times, I always knew that recession was imminent. The blame for all the challenges befalling the country always falls on the Federal leadership, often on the president himself.

The Nigerian stock market crashed by N1.732tn between May 2015 and May 2016. The Nigerian Stock Exchange (NSE) data showed that the NSE market capitalisation on May 28, 2015 was N11.658tn, while that of May 27, 2016
was N9.926tn.

Happenings in the last one year have further ripped open the fact that the Administration lacks sound economic managers to sail Nigeria’s drowning economy ashore. The continuous dwindling value of the Naira and high cost of staple foods are just enough pieces of evidence. This is to say the least! But so far, I have seen nothing much to cheer about!

Though one year may not be enough to judge an administration, but one year cannot just be wished away. Besides, the first year of every administration should signpost the direction a government will take and give a glance of what to expect in the coming years.

“Change” simply means to become different or a process through which something becomes different. The masses knew there were problems that was why they elected Muhammadu Buhari to come and solve them not to be capitalising on what the previous administration did or did not do. The hunt for change must be one where all sectors must be made to work.

The onus lies on the President and his cabinet to strive to rekindle the fading hopes of Nigerians as virtually everybody is angry. There must be clear-cut economic solutions to shield the poor and vulnerable. One can generally say that the first one year of the present administration requires much to be the administration that will lead Nigeria to the Promised Land. The remaining years beckon.

• Nwokocha, a writer and Principal Author, The Metamorphoses of Nigeria, lives in Abuja
nwokochagerald@gmail.com (08032565094).

6 Comments

  • Author’s gravatar

    Let’s not deceive ourselves, presently nothing is working in the country except poverty that’s written over the faces of all Nigerians.

  • Author’s gravatar

    At least, Mr President has CHANGED from ever 250 cow rearer to all time presidential jet flyer. Is it easy to have 10 people around you to a London hospital for 10 days? Yet he said he says he met empty treasury.

  • Author’s gravatar

    Good morning, Nigeria.

  • Author’s gravatar

    The problem with this country is that we don’t always tell ourselves the truth..from the president to the masses. Nigeria is sick. and the only medicine that can cure us is to change our mindset. When you speak to an average Nigerian citizen about the woes of our leaders, what you will hear is ‘E go better’..please tell me when when it will be better…If we don’t cut our cost of government we all at the end will see that Nigeria is a time bomb waiting to explode.
    I rest my case.

  • Author’s gravatar

    I share the sentiments of the author. But I think corruption was the bane of the past administration and previous regimes since the advent of this 4th republic. Buhari will do well to beam his searchlight beyond the last administration.