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Written by: Paul Thomas yodethomas@yahoo.com Don’t Let this House Fall It is a well known fact that the entire world is currently engulfed in perhaps one of the most challenging and heart boggling situation that the world has witnessed in recent times. Today many nations are almost at the brink of collapse and it is unimaginable what the extent of this collapse will be if this situation persists. Countries world over are faced with a financial catastrophe of immerse proportion with very grave human casualty if urgent solutions are not proffered to stem the tide of this monster that threatens the viability of our existence. In the light of this realities most nations have began to adopt ways and means to ensure that the impact of these uncertainties are curtailed, at least to a reasonable extent. Policies and measures have being put in place to guarantee some sort of succour to the economy as this tidal wave of enormous speed ravages the nations leaving in its wake avalanche of downturns and recessions and in some cases depression. We have witnessed recently the steps taken by the Americans and the Europeans in cushioning the effect of the global financial upheaval on their economies. Many lifelines have being deplored into their economies to ensure economic activities are stimulated in order to ensure the continuous flow of essential economic productions necessary to hold the system in place until this financial cyclone ceases. Despite these many attempts the situation remains unabated. The critical question therefore that every keen observer concerned about the current financial tornado is asking is what is Africa and Nigeria in particular doing to reduce the current financial cataclysm threatening economic sustenance and viability? What measures or policies are being put in place to cushion the effect of this global downturn on the Nigerian economy? What lifelines can Nigeria adopt to ensure that this financial debacle does not shatter the already fragile and delicate economy which was only barely surviving prior to the current financial meltdown? These and many more questions agitate the minds of Nigerians in this current financial climate. Prior to the current financial situation the Nigerian economy for years had suffered serious and continuous economic downturns due largely to failed leadership and purposeless pursuit of the Nigerian state. The Nigerian state had for over 30 years being governed by immature and visionless leaders. Nigeria has being plagued severally by men and women whose quest for governance has being guided mainly by the desire to amass wealth at the detriment of the people. The economy had for several years suffered continuous and persistent haemorrhaging of her vital resources; in quantifiable resources have being siphoned by these mindless leaders to America and Europe. The same stolen money is what these countries now use as lifelines to cushion and support their various economies. Monies that would have being needed in bolstering the Nigeria economy at uncertain times. For any economy to survive 60 to 70 percent of the population must be engaged in one form of trade, business or employment. The Majority of Nigerians have not made any meaningful contributing to the development of the economy for almost 30 odd years and the effect of that has being a gradual decline in the productive capacity of the Nigerian state. Huge human and social capitals are churned out every year from our institutions, the bulk of which will roam the streets for years before getting any meaningful engagement. By the time they get employed their skills and acumen have become obsolete. Their productive years wasted and contribution to wealth management and nation building deprived by purposeless leadership. With the devastation of the economy through reckless and unrestrained corruption the Nigerian economy became docile, because the necessary stimulation needed for continued growth became unavailable. Resources that were meant to be ploughed back into the economy in order to service the various sectors that oil the economy began to seep through corruption, aggrandizement, massive expatriation of funds into foreign banks and mindless wastage of valuable resources. Perhaps two of the most wasteful administrations that Nigeria ever witnessed were the Abacha and the Obasanjo administrations. These two administrations were headed by demented men whose place in history should have being at the asylum. Thankfully the former expired while the latter is like a leprous man avoided by every reasonable thinking human being. These administrations saw to the near collapse of the Nigerian state. Twice Obasanjo had plunged this nation into a political cyclone capable of destroying the Nigerian state. First in 1979, when he passed the presidency to Shagari, a man not capable of distinguishing between his left and right; an apolitical candidate who was coerced with the mantle of leadership, in a political terrain as complex and dynamic as the Nigerian state. The downward trend of the Nigerian economy began when these NPN puppets came into power, after a thoroughly rigged election. Obasanjo passed on the leadership of Nigeria to men of corrupt minds absolutely clueless about governance. The only true evidence of leadership came from the UPN. With the likes of pa Jakande, who rather than steal money, built schools and houses, thereby enabling thousands and millions of underprivileged Nigerians access to some fundamental necessities of life. Again in 2007, the same Obasanjo relinquished power to another leader, whose only political manifesto is inertia. Two years into the current leadership and the perplexity of the Nigerian government about national complexities and current global phenomenon is palpable. It staggers belief that the Nigerian government has still not come up with concrete plans to confront the current global crisis as it affects us or the many local challenges that threatens the cooperate existence of this nation. The bulk of Obasanjo’s tenure and towards the start of Yar Adua’s administration Nigeria witnessed increased prosperity in our main foreign exchange earner, crude oil, which sold for as much as $145. While this unprecedented cash flow would have seen massive wealth creation and capacity utilisation leading to the creation of jobs and diversification of the economy. Rather what we witnessed was increased graft and display of intellectual pygmies jostling over positions. Obasanjo wanting to elongate his retarded way of governance; his deputy was busy crying all over the world like a spoilt child crying for candy. With the massive flow of income during those years of plenty being properly utilised the Nigerian economy would have, to a large extent been prepared for this current financial imbroglio. This was the case in other sane economies that benefited from the windfall. Countries like Libya and Saudi Arabia changed their entire economic landscape in preparation for the years of lack. With the likes of Abacha and Obasanjo, the haemorrhaging of the economy took a new dimension and with no constructive means to stop her bleeding, small and medium scale industries which naturally are the main stay of any economy and where the wealth of any nation is generated took a journey into oblivion. Access to loans by these industries became impossible and where loans are available the cost became too exorbitant. While these sectors collapsed the Nigeria middle class a veritable product of these industries and the sustenance of any vibrant economy passed on and the Nigerian state became worse off. Successive leaders, right from the first republic refused to embark on any meaningful and reasonable project in the years of plenty; rather what we saw was the ostentatious display of vanity and insanity. Some politicians had champagne named after them and celebrated their elevation into the realm of millionaires; as though the accomplishment was by dint of hard work. Whilst The Nigerian state was lapsing into depression the Nigerian leader celebrated his accomplishment in thievery and rapacious frenzy. While the Nigerian leader suffered from chronic kleptomania other serious minded countries where able to turn around their economies through professional leadership. Economies like the UK, in the 1980s and 1990s became one of the most active economies in the world. Britain was able to channel their downturn into an upturn; from a slow economy into active and vibrant one. The same story is replicated in many other nations including African nations. Countries like Ghana, Angola, Botswana Libya, etc. These countries have achieved economic significance through visionary and professional leadership. If Nigerian is to survive this global financial quagmire, threatening the existence of many cooperate entities (to which some have already being consumed), and indeed many nations. Certain measures must be put in place to ensure the sustenance of the Nigerian economy. Firstly effective leadership must be put in place; the only way the Nigerian state will exist beyond this current quandary is to put tested and proven men and women at the helms of affairs. The current problem by the state was a direct failure of leadership. It is therefore necessary that to correct the economic anaemia, professional and visionary leadership must urgently be put in place. The right leader will initiate the right political will. The right political will, will steer the country through the path of economic recovery and development. Effective leadership is about creating effective follower ship. The most important assignment of an effective leader is to create an avenue for people to function maximally regardless of political affiliation or inclination, neither does an effective leader bother about the ethnic or tribal orientation of those in his ambit, the important thing is for the best man to do the job. The leader that will take Nigeria out of the woods into the Promised Land must be a charming and articulate leader, one that can unambiguously outline where we are going and how we can get there. (Not skivers like Orji Kalu who after 8 wasteful years of inactivity as a governor, was asking Nigerians ‘what went wrong with Nigeria’). Nigerians have being despondent for as long as anyone can remember, we want a leader who can encourage us to be all we can be. Currently the Nigerian state is in dire need of leaders with character and integrity. Leaders who can adequately prescribe the right prognosis to the myriad of challenges that confront this nation. The current administration has been mouthing about its seven point agenda which is to elevate Nigeria amongst the top 20 economies. This feat cannot be achieved via rhetoric or mere wishing. The initial step to attaining economic prominence in the global stage is by first tackling the monster called corruption and ruthlessly mutilating the structures upon which this monster had crystallized these many years. Becoming a globally acclaimed economy requires meticulous and prolific leadership skills. Planning, management, organising, budgeting, lateral thinking and implementation of right policies are some of the concepts that the Nigerian government must put in place, before Nigeria can begin to experience any meaningful and constructive change in the status quo. No doubt the resources and the wherewithal to change Nigeria into a world class society are copiously available but the right people to convert these resources are urgently needed otherwise Nigeria’s prospect of ever actualising economic prominence will remain a mirage. The current financial debacle presents to Nigeria a two edged sword, a global economic downturn and a wake up call to the need for local economies to judiciously manage their respective economies. Resilient economic processes must be adopted by the Nigerian state in order to adequately insulate the economy from these uncertainties in the future. This house called Nigeria must not fall; we must as a matter of urgency put are arsenals together and ensure that Nigeria truly emerges as a nation whose misadventure and misdirection since independence have being turned around. The old wounds must not be allowed to fester any longer, otherwise the stench will soon become unbearable and the end result might be amputation. Paul Thomas Ireland
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