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            Home » African Largest Economy: The paradox of Nigeria reality, By Toyin Adinlewa
            Opinion

            African Largest Economy: The paradox of Nigeria reality, By Toyin Adinlewa

            techBy techNovember 7, 2015No Comments6 Mins Read
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            Democracy is such a government that I have found so interesting but often disturbing, perhaps because of the privileges it gives to all and sundry within any democratic system, regardless of some individuals who in the real sense should bury their heads in shame for mismanaging and misusing the public trust they were bestowed at one time or the other.

            Such is the reality of Nigeria politics where a failed and defeated party, better put, individuals are tongue-lashing the current government for being sincere with Nigerians and their international allies on the reality of our economy which were shrouded in secrecy during their reign leading to corruption of monumental proportion.

            Recently, while reacting to the latest statement of President Muhammadu Buhari that Nigeria, as a nation, with its abundant human and natural resources, is broke and cannot pay cabinet ministers, the PDP, in a statement by its National Publicity Secretary, Olisa Metuh, said “the President’s unwary statements have become very serious clog in the wheel of progress, eroding the confidence of both domestic and international investors in the Nigerian economic and social system.”

            He said instead of making efforts to harness resources and grow the economy, the president has rather continued to apply himself, perhaps unwittingly, to de-market the nation and scaring away investors through negative labeling of Nigerians and unwarranted unhealthy portrayal of the nation’s economy.

            Expectedly, president Buhari, in a statement by his Special Adviser on Media and Publicity, Mr Femi Adesina lambasted PDP-led government under Dr Goodluck Jonathan for shamelessly lying to Nigerians and the world about the buoyancy and vibrancy of the Nigerian economy.

            The president said he would not in the guise of “marketing” the country, refrain from telling Nigerians and the world the emerging truths about the abject state in which years of plundering by a PDP leadership had left the Nigerian treasury and economy.

            Metuh seemed to be protecting Nigeria economy from being de-marketed but quick to forget that a nation cannot thrive by calling white for black to those who are expected to be partners in progress.

            But this shameless PDP’s attack on the president raises so many questions: When does telling the truth become unhealthy portrayal of one’s nation? Or when does telling lies become a strategy for attracting investors when realities are ostensibly apparent? I mean, why would a country still regarded as a pride of Africa descends so low by lying to trusted allies for the purpose of wooing investors?

            Metuh and his party (PDP) own Nigerians reasonable answers to these question and with a sense of urgency should explain why our economy is now in a coma and some states still find it hard to pay their workers even before the handing over if indeed the economy was as good as it was portrayed during Jonathan administration.

            Meanwhile, a critical assessment of the Jonathan administration, especially his last two years, clearly revealed that a-reality-concealed-methodology was adopted to obfuscate the plundering and treasury looting perpetrated by the high rank and file within his cabinet. Nigerians were made to believe that the economy was doing well. Oh! Actually, economy was buoyant and vibrant but they were equally plundering it, leaving nothing for the masses.

            This big lie was branded the largest economy through rebasing by Jonathan so-called economic group headed by Dr Okonjo-Iweala. You would recall that at a time when indices were showing negative, monies not being remitted to the government coffer, allegation of money laundering and many discerning Nigerians getting curious, economy was rebased and declared the largest in Africa, 26th in the world based on a bigger GPD

            However, the paradox is that, a bigger GDP also implies an upward revision in per-capita income which was totally ignored. There is no corresponding shift in the actual income, earnings, productivity and wellbeing of Nigerians yet the shout of Nigeria economy being the largest in Africa permeated every nook and cranny of the world- a strategy employed to divert Nigerians attention from reality of treasury looting by his cabinet members.

            My problem really was not against re-basement per se, but the way by which it was used to becloud Nigerians of the economy realities which would have been proper for any government to bring to national discourse. Jonathan and his team caused the current economic woe leading to a situation where some states owe up to seven month salaries and the federal government being unable to pay large cabinet as declared by the president.

            So Metuh should know that he and his party have no moral standing to challenge any statement made by Mr President for the purpose of telling Nigerians the current economic situation. We are in the era of change where transparency and accountability are primed; where there is no room for any secrecy.

            Also, Metuh failed to understand that it would be equally damaging for any government, especially Nigeria government with the person of President Buhari- a man of high integrity, in the bid of wooing investors to declare that all is well when in actual fact indices show the reverse.

            We are no longer living in their creation-the “Republic of liars” (courtesy of Prof. Wole Soyinka)- a construction in the PDP 16 years of misrule with no sustainable development to show for it whether in power sector or infrastructure. Nigerians through the last general election demolished such republic, and now expect the current administration of Buhari to be truthful and transparent in the course of building the country we all envisage.

            Meanwhile, it may be true that Nigeria is broke when considering the dwindling oil price couple with the fact that the tax revenue generating capacity of the Nigerian economy is yet to be harnessed and that the current tax system is ineffective in many ways. So, the statement of Mr President portends nothing far from the reality and should not be seen as Metuh highlighted.

            Therefore, all hands must be on deck to salvage our economy from total collapse by supporting this current administration mantra of change through collaboration and changing all our behavioural traits that may be antithetical to sustainable growth.

            We must realize that Nigeria is for all of us, and only our cooperation and patience can make our dream of great nation come through.

            Toyin Adinlewa is a Mass Communicator and Public Affairs Analyst

            Africa Mr President Nigeria PDP
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