By Toyin Adinlewa
Leadership is about doing the right thing, even if it’s going against a vast number of naysayers and mediocre people.- N. R. Narayana Murthy.
No doubt, Nigerians, as a people, are facing the most toughest, challenging and critical moment in their national life. The current economic downturn is biting hard and even the well-to-do are not immune to the resultant effect let alone the common people on whose mandate the present administration of President Muhammadu Buhari rode to power with the promise of change for better standard of living, killing corruption and ensuring security of life and properties.
PMB took the oath of office on 29 May, 2015 and since then; the nation has never remained the same. Corruption with impunity is daily being tackled and it appears that Nigeria is eventually killing corruption with the vibrancy and digging it out in style using EFCC. Even though, it hasn’t successfully prosecuted any culprit with Dasuki and Saraki being the infamous, the operation of EFCC is by far what Nigerians need to survive the onslaught of the “macroscopic few” who had hitherto plundered our commonwealth for no common good.
Obviously, the most talking points in the Nigerian polity as President Muhammadu Buhari marks his first year in office is government’s decision to scrap the contentious Petroleum Support Fund, otherwise known as fuel subsidy, a development culminating in marketers being directed to sell premium motor spirit, PMS, between N135 and N145 per litre. Expectedly, the hike in the pump price of petrol elicited mixed reactions, with those against it raising a eyebrow and outright condemnation and demanding that government should immediately revert to status quo of #86.50 naira per litre.
Before now, it is almost difficult if not impossible to talk of subsidy removal in Nigeria even when it is obviously counter-productive to continue spending such a huge amount of money which could have been used for infrastructural development. I have always been longing for that courageous and bold President who would save Nigerians from this good for nothing subsidy that has benefited some few individuals instead of the generality of the people.
To be candid, the discovery of oil in commercial quantity in 1950s couple with oil boom of 1973 that appear as a blessing to Nigeria has since turned to be nation’s doom obviously because of the neglect of agriculture and the building of Nigeria economy around the then newly discovered oil.
The economy became heavily dependent on oil. By this time, oil revenue represented almost 90 per cent of foreign exchange earnings and about 85 per cent of total exports. While the boom afforded the government much needed revenue, it also created serious structural problems in the economy. The agricultural sector was most hit. Rural urban migration increased, as people attempted to reap or benefit from the windfall from oil. Production of agricultural commodities for export declined. Food production became a problem. Starting from 1974, the economy became a net importer of basic foods. Huge foreign exchange earnings were utilised in importing food. What a mess!
Nonetheless, prices of foodstuff remained high. Policies like the government’s Operation Feed the Nation (OFN) programme could not reverse the deteriorating food situation. Government was involved in direct food production, provided subsidies to peasant farmers and created more commodity boards for various agricultural and food products.
The growth rate of GDP was quite high, such that a growth rate of 10.5 per cent in 1976 was considered unimpressive. Government expenditure fuelled the inflation rate. Between 1975 and 1976, the rate of inflation reached 23 per cent. It reduced to 16 per cent in 1976 and 1977. For the same periods, unemployment rate was 4.3 per cent and 2 per cent respectively. That was the genesis of our current woe!
Subsequently, even when it becomes obvious that economy needed to be diversified, our government continues to be uninterested. The discomfort index in 1976 continues to grow culminating to economic meltdown Nigeria is witnessing today. What a nation we are! Our oil boom is becoming our doom.
Under the former administration of ex-president Goodluck Jonathan, Nigeria again enjoyed the proceeds from oil when it was sold between $100 and 120$ per barrel but nothing good was made of it. Instead, a gargantuan act of corruption was recorded leaving the current administration reeling on how to retrieve out money for national development. What a pity!
With President Buhari saying recently that: “We made a terrible mistake by becoming a mono- product economy hinged on oil and we are now in a volatile situation, due to the crash in oil prices. We have seen the benefits of diversification which helped Iran to survive many years of sanctions and still come out strong. We are now fully committed to economic diversification. Most of the things on our import bills can be produced here. And we are determined to achieve that self-dependency.”
PMB has come to term with the fact that Nigeria needs to go back to agriculture. Our economy needs diversification. Agriculture and mining sectors need serious attention. In fact, declaring a state of emergency in these sectors will go a long way to safe our economy from going into recession.
However, I need to state here clearly that even when our experience, as a nation, under President Muhammadu Buhari one year in office is nothing near comfort as expected, PMB, I believe, is doing his best to bring the nation back to his past glory and placing it on a pedestal of power among the community of nations. After all, he is just an inheritor of Jonathan’s maladministration.
One cannot dispute the fact that President Buhari is working hard to not only kill corruption before it kills us but also sound warning to the corrupt. For once, since its inception, EFCC is working without government interference. All animals are equal in the ongoing war against corruption.
Our image, as a nation, is now something to write home about. People around the world are now rising in defence of Nigeria. What a surprise! Cameron’s statement of Nigeria being fantastically corrupt attracted serious condemnation from eminent people around the globe with the Archbishop of Canterbury, Justin Welby on the list. All to the credit of PMB.
Needless to mention also, the bravery of our gallant army in the ongoing war against Boko Haram who until now has remained our most dreadful nightmare. Terrorists are on daily basis decimated and there are indications that they are now begging for amnesty. Imagine the defeat! Some emirs who were displaced from their kingdoms are now returning to their respective palaces with hope emerging that our girls are close to reuniting with their respective parents.
So, irrespective of what Nigerians are currently going through, the ray of hope of better Nigeria still beckons and Nigerians cannot afford to lose hope in Buhari-led administration for delivering its promised change.
Nigerians must keep hope alive by waiting patiently and give the needed support for the total transformation of our dear nation as this administration clicks a year in office on May 29, 2016. Happy democracy day!
Toyin Adinlewa is a Mass Communicator and Public Affairs Analyst write from Ondo.
