By ADE ADEWOLU, Phd
The current situation of things in Nigeria calls for a reappraisal.
The country is on the way to true development, but there are some steps to be taken to prevent temporary pains from truncating the future progress. The President needs a league of people whose past shows that they will offer selfless advice.
With every aspect of Nigerian citizenry feeling the pinch of the Petroleum Subsidy removal, it is necessary for each and every one to bring out ideas that can add value and make our country better. Obviously, this is not the time for ‘name-calling’ or apportioning blames. It is time for constructive development of the country.
Below are some of the ideas that came to mind while pondering over the future of our country:
Security Architecture:
This has become necessary since some lazy people are cashing in on the democratic opportunities to enslave fellow citizens and demanding ransom as a way to live their extravagant lifestyles. Technology makes it easy to curtail the excesses of miscreants like these through the creation of Close-Circuit Television (CCTV).
With a back-to-back installation of CCTV on dedicated solar-powered street lights, the security threats and the attendant kidnappings can be effectively managed and greatly minimized.
There is no country where there are no people with criminal tendencies. The effective monitoring of back-to-back CCTV will enable the security agencies to identify the routes of lawless people and kidnappers as well as curtail their nefarious tendencies.
Coupled with Satellite and Geographic Information System,GIS and relevant imaging systems, it will be more difficult for undesirable elements to demand ransom from kidnapping as a source of livelihood.
In addition, banks and other financial institutions can help to monitor monies paid by inserting marked monies in ransom payments.
We need to vigorously pursue debt forgiveness by creditor organizations like the World Bank.
This may involve people like Dr. Ngozi Okonjo-Iweala and other high ranking World Bank Officials of Nigerian descent.
Chief Olusegun Obasanjo did it and he got impressive results. Writing off debts will restore power to the Naira. People like Chief Anthony Ani – a former Finance Minister in Nigeria recently posted some of the actions taken during his tenure that should be revisited.
Bad heads in Central Bank of Nigeria,CBN, as well as commercial banks would not allow those progressive initiatives to see the light of the day.
A strong and healthy relationship between Central Bank of Nigeria (CBN), Commercial Banks, Western Union and MoneyGram will restore the value of the Naira.
Co-opt Chief Anthony Ani into a strong economic team and they will suggest the way forward.
Reduce the cost of Governance. A sizable number of non-performing government officials should be done away with. They are not essential for your team to succeed.
It is equally necessary to educate the Governors and National Assembly members about leaving a good legacy beyond endless acquisition of perishable wealth that will amount to nothing within a short space of time.
A strong economic team is crucial at this time. There is food in the market, yet it is unaffordable.
There is a large youth population, yet they are unemployed.
The solution lies in getting people like Dr. Akinwunmi ADESINA of African Development Bank (AfDB), Dr. Ngozi Okonjo-Iwealla of World Trade Organization and former president, Chief Olusegun Obasanjo (among others) to give weekly appraisal of the trends and happenings in the country, viz-a-viz recommending the way forward for the economic development.
These weekly appraisals and suggestions can be done via Zoom Meetings.
In the course of your trade missions, encourage reputable old friends to re-establish their industries in Nigeria. These include, but are not limited to cocoa and chocolate industries, Michelin and Dunlop Tyres, Exide Batteries, Truck Manufacturers, Car Manufacturers, and many others.
With an empowered Naira as well as transparency in the financial institutions, patronage is guaranteed and these companies will stay.
Empowering the local industries with reputation should also be pursued. A situation where strong companies like Innoson Motors will be expanding through investments outside the country is not good enough for the country.
Fledgling industries should be encouraged through empowerment from Micro-Finance institutions and Cooperative Societies.
Thank you for listening to the voice of reason.
ADEOYE OLUGBENGA ADEWOLU, PhD, MNIA, ISTQB/CTFL Lecturer in Architecture,Bells University,Abeokuta
