22/07/2022
Nigeria's Economic Stagnation: Beyond the Presidwncy.
By Abdullah Dan'azumi Golkos.
CEO Salasadiscourse Political Consultants.
The advent of Democracy and the high expectations has proved to be elusive with exception of the Islands of affluence that have been created here and there across the country.
The standard of living of the majority has continue to deteriorate. The infrastructural decay has continued unabated and in some instances have even worsened. Industrialisation, that creator of employment has been totally abandoned with few exceptions. Some have decided to relocate their industries to other countries on the West Coast as a result of the persistent energy crisis which have made their operations unprofitable thus compounding the problems of unemployment.
There have been efforts to wrongfully attribute the problem to the Presidency. But is the problem really that of leadership or structural defect? Obasanjo was the most experienced and the most rugged of all the elected Presidents we have had so far. Despite his doggedness, he could not solve the perennial energy crisis neither could he take on the Political class. Realising his inability to achieve any meaningful development under the existing dispensation, he organised a Constitutional Reform Conference which never saw the light of the day.
As a panacea to the symptoms of the crisis, he established the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) after realising that neither the Constitution nor the structural framework on the ground can provide an enabling environment for development or to confront corruption which is the practical manifestation of the deficiencies.
He tried to elongate his tenure to strengthen his position to enable him confront the myriad of the alleged problems. The legislature throw it out after enjoying the incentives dispensed in the tenure elongation campaign.
President Jonathan whom some people dub as clueless was to be confronted with same challenges. He decided like President Obasanjo before him, to organise a Constitutional Conference. The timing of the Conference and its lopsided composition was to condemn it before its ending. It proved to be dead on arrival.
President Yar'Adua's tenure was short lived. But he saw the development problem as not only of leadership but the process that produced the leadership itself. He constituted the Election Reform Committee which produced a new Electoral Act.
All these efforts are undertaken by the Presidents on the realisation of the deficiencies of the system to make Nigeria great. All to no avail.
When President Buhari was elected, the thought that the failure was that of leadership persist. With a reputation as a brutal Military dictator, an apostle of anti corruption and a born again Democrat, expectations are high.
Few months into his administration, the expectations started to fizzle out as
indications started to indicate that it's going to be business as usual. They are not mistaken. His hands are tied. The very factors that stopped his predecessors dead in their tracts cannot spare him.
Realising the lack resources to undertake any meaningful development project because of the high level of overhead cost which leaves little for Capital projects, he decided to do the abnormal. He resorted to taking foreign loans for Capital projects ignoring the country's foreign reserve. He adopted this policy in the belief that the projects for which the loans were taken will in the long run pay off the debts. The whole policy is anchored on the believe that any normal process of financing the projects direct from the foreign reserve through the Political process will be abused.Thus its safer to bypass that process and deal direct with the contractors.
But understand that the reality of the situation goes beyond ordinary leadership as reflected by the inability of the elected President to meet expectations, we have to go back to attempt an analysis of how the factors militating against our development came about.
The vacuum created by the elimination of the Middle class through the implementation of the World Bank and the International Monetary Fund (IMF) advised economic reforms that started in mid eighties is the beginning of the problems.
The reform which resulted in the Liberalisation, Privatisation of the economy and the devaluation of the Naira was to destroy many local industries with its attendant unemployment, while the devaluation of the currency is to weaken its purchasing power thus resulting into hyperinflation and economic stagnation.
The economic process pursued through the the implementation of the policies was to produce a special class of people which comprises of financial speculators whom President Abatcha had to later set up a Failed Bank Tribunal to deal with them, a wealthy, politicised, aggressive and collaborative Clergy, a foreign donor funded Civil Society more bent on impressing their donors rather than promoting and advancing national interest, a powerful Independent Oil Marketers who are holding the country to ransom and are manipulating the economy at will.
The activities of these class produced by the Economic Reform which started in the Mid eighties is complemented by a compliant Political class at all levels of Governance with a strong presence in the National Assembly. Adding no direct value to the economy, these group came to be entirely dependent on state resources. The Clergy while benefitting from state largess indirectly through non taxation, also have no qualms in manipulating and exploiting a hypnotised and deprived flock whose lack of access to not only economic empowerment funds, but also the basic needs for survival, have lost all hope and has come to believe that his economic liberation lies in miracles rather than assertiveness.
The Constitution which has not regulated the privileges of the Political class turned out to be an open cheque. The chambers of the Assembly came to resemble a Chamber of Commerce rather than that of elected Representatives.
Budgets are padded at will and privileges are extended in the name of oversight functions. Duties of the Civil Service Commission which is basically that of employment is usurped. Personal and state interest became interchangeable. Politics became big business. Nigeria became a Stock Market where shares can be bought and sold. Everything and everybody came to have a price tag as witnessed at the recent Primaries of the Parties. The Privatisation of our national life is complete going beyond even the wildest dreams of the initiators.
The artificial affluence arising from the rapacity of this unproductive group was met by a corresponding level of poverty as the social disparity between the rich and the poor became unbridgeable. Within a short period, their action had catapulted Nigeria to the unenviable position of the " Poverty capital of the world."
Nigeria is saddled with a strange type of Democracy whose major beneficiaries after having paid and manipulated their ways through the electoral process, became worse than feudal lords. They become the personification of the state: Untouchable and above the law.
The Constitution gave unregulated powers to the National Assembly which came to be abused. Budgets presented by the Executive branch are passed only in exchange for concessions. Nothing gets done except if their financial interest is protected. Current Expenditure came to dwarf Capital Expenditure. More is spent on maintaining them rather on projects. Without industries to provide employment and the Political processes churning out Millionaires on monthly basis, the state was straightened to its limits.
The resulting poverty from the plunder of state and private resources by this dependent class led to counter reactions by both the classes. The deprived class having lost hope in the state, renounced their contract with the State. They forcefully took over the Ungoverned spaces in the countryside. Regional, ethnic and religious ideals become mobilising instruments. Insurgency, banditry, irredentism and kidnapping became the order of the day. The colluding clergy like the Ostrich which always bury its head in the sand in the face of approaching Storms,is to attribute these factors to our sins and calling on people to repent.
The emergence of these groups necessitated the abandonment of movement by road whose control is contested between the security forces and the militant groups. Nigeria became a killing field with reported killings as the result of invasion of rural settlements by armed groups has become common. Occasional attacks against Military formations and ambushes become routine.
Refusing to surrender its privileges to "Restructuring" or the "Devolution of Power " as against the agitation for secession by some of the Militant groups, the beneficiaries responded in typical fashion.
They come to rely more on the security forces for protection. They built houses with high walls in the urban centres whose gates are elecrically controlled and manned by corporate security guards complemented by the Police and other security agencies and Man eating Dogs. This is in addition to CCTV's to monitor movement around the area. When moving around, they are protected by members of a Police Special Protection Unit formed specifically to provide security for them. The movement which nearly turned into a revolution but for the lack of a coordinated leadership came into existence because of the excesses of one of such outfits.
With positions hardened by both groups, one to protect its privileges and the other to forcefully challenge the status quo, unconsciously, the battle line is drawn. Sooner or later, one will give in.
While the need for Restruturing and Devolution of Power has been rejected, no better option has been recommended. And as long as the present structure exists with its attendant Social disparity in favour of such an unproductive class which is bent on protecting its privileges, we shall not know peace. And without peace, development is impossible.
