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A gaze into the future (2)

BusinessDay
9 Min Read

We left the first segment of this piece looking at gender inequality in the country and most importantly the plight of families whose daughters were abducted in Chibok on 14 April 2014. Despite successes recorded by the Nigerian military, we’ve not seen traces of the 219 Chibok girls that have been held in captivity for two years. It is necessary to state that when most of the challenges facing our children in Nigeria are not addressed squarely today, we may end up having worse issues in the future.

The future we desire as a nation is that in which poverty is eradicated by the year 2030. When the world’s population is projected by the United Nations to reach 8.5 billion by 2030, Nigeria will be having an estimated population of almost 260 million. It is in 2030 that Nigeria and other nations will be expected to take stock of their achievements with respect to the Sustainable Development Goals (SDGs). But if in 2016 more than 70 percent of Nigerians are said to be poor, what will be the future of a nation of about 260 million people?

My concern therefore stems from how Nigeria plans to eliminate poverty by 2030 which is in line with the first goal of the SDGs. This is because a concentration of poor people in a nation presents its own challenges, thus making it difficult to eradicate poverty and inequality. Eradicating poverty between 2016 and 2030 appears to be too ambitious for Nigeria.

We may want to know why this is so despite the benefits of population growth. But we should not forget that resources are limited only to the extent that we are unable to create them. To end extreme poverty by 2030, Nigeria needs higher economic growth than in the past, and more growth that benefits the poor. Otherwise, hunger and malnutrition will be difficult to combat, while expansion of educational enrolment and healthcare facilities would be problematic.

Still gazing at the future of Nigeria, it appears only President MohammaduBuhari (PMB) is combating corruption.What happens when PMB completes his tenure as President of Nigeria? I ask this question because it seems PMB is the only one in government at the federal level, working tirelessly to return the nation to the path ofhonour and glory. While other politicians are fighting for power, money and anything they could grab. When the idea was brought forward in 2015 for PMB to change his official car to a new one, he declined the offer. It was on the grounds that the armor-plated car he met in office was in good and serviceable condition.

As I write this piece, there is controversy in the media regarding the purchase of Toyota Land Cruiser Jeeps for senators in the NASS. This is happening when the 2016 budget has not been passed into law. As the APC is planning to sue the NASS over delay of the 2016 budget, the latter is threatening to veto PMB on the same matter.

Why has some “distinguished” senators chosen the path of controversy almost on all matters having Naira and Kobo implications? It seems the anti-corruption campaign is not compatible with the DNA of most NASS members. With respect to corruption, the spirits of most NASS members are willing to let go their plundering lifestyle, but their flesh is weak.

That some senators bought a brand new jeep for themselves is not my source of concern. After all, most Nigerians love good cars. What is disturbing is that each of the vehicles was reported to have been procured at the cost of N35.1 million when it is purported to cost about N17 million in the market. I hope the allegation is false. If it is true, then the attitude is negative and unpatriotic; it fuels inflation as Nigeria does not manufacture Toyota Land Cruiser Jeeps.Are we not assembling SUVs in Nigeria?

Again, the senators have demonstrated that they are greedy and insensitive to the plight of an average Nigerian. That the economy is not doing well does not bother National Assembly members. They are distracted by what they want to get from office. That is why they cannot pass any law that will improve the well-being and prosperity of the people.

I agree with those who described the inflation of the unit cost of each car as a “willful, grievous and criminal act.”Our senators should be reminded subtly that “every dollar lost to corruption is a dollar lost to investing in a child’s education, healthcare or much needed infrastructure.

Still on the over invoicing of the jeeps, I read that the Nigerian Labour Congress and Trade Union Congress are warming up to mobilize Nigerian workers, civil society allies, market women and students for action. A public affairs analyst is of the view that if these senators do not want protests by these unions and civil societies, they should honorably order the supplier to return the excess funds on the jeeps to government coffers.

After the debt forgiveness in 2005, it is on record that Nigeria has been running a budget deficit. If former President Olusegun Obasanjo had not applied wisdom to seek for debt forgiveness, how much will Nigeria be owing international financial institutions today? Perhaps, Nigeria’s debt profile would have been at unimaginable level. What then is the future of our children in a nation that is panting for breath under the burden of debt? Your guess is as good as mine as Nigeria gets poorer relatively and absolutely.

As I gaze into the future, it is not likely that the cost of crude oil in the international market will increase soon. Just last week, Saudi Arabia expressed its unwillingness to reduce oil production at the just concluded Doha meeting of OPEC and non-OPEC members. Saudi Arabia has increased its production to one million barrels of crude oil per day, while Iran is also increasing its output.

How is Nigeria going to fund the 2017 budget? Despite huge mineral resources available in Nigeria, the easy option always embraced by government officials for economic survival is the “begging bowl” approach. By adopting the “begging bowl” approach Nigeria is always looking up to foreign institutions for donations and grants as well borrowing of funds to spend in addition to its earnings from the sale of crude oil.

The good news is that crude oil is now US$ 46/barrel in the international market. This gives Nigeria a buffer of US$ 8.0 over its US$38.0/ barrel used as benchmark in the 2016 budget. My advice to the federal government is to start saving excesses from sale of crude oil. Nigeria should cultivate a culture of savings and not only sharing. Otherwise, we will be sweeping problems under the carpet for children yet unborn.

In concluding, I draw inspiration from KemiAdeosun, Minister of Finance that we need to start sowing the seed of sustained prosperity. I request the federal government and other tiers of government to collectively displaythe will in ensuring that funds borrowed are safeguarded. And also to ensure that wastages within the existing systems are eliminated. This is because “we cannot mortgage our future and that of our children based on a system that has failed us for generations”. If our children’s interests are not protected, then Nigeria has no future.

 

MA Johnson

 

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