Business leaders rethink politics as economy stutters

Nigeria’s worst economic downturn in a quarter of a century is causing some of its brightest business leaders to have a rethink about their lukewarm approach towards engaging in politics.
Over time, social scientists have agreed that third world politicians fall short on the unique qualities that make a good leader, unlike business leaders who tend to be principled and decisive- the very qualities that define exemplary leadership.
Nigeria’s economy is in dire need of a rebirth, as it battles its first recession since 1991. While the blame is usually heaped on a downturn in oil prices and production shut-ins, business leaders are not losing sight of the damage caused by government officials who have suspended economic logic for political interests.
The much needed foreign exchange, power and petrol reforms needed to open the economy for business, as well as guarantee sustainable growth, are stalling, with politicians more concerned about protecting political points and turf, ahead of the upcoming elections.
“I strongly believe it is time for professionals and intellectuals to throw their hats in the ring because politics is becoming too important to be left to just anyone,” said Kyari Bukar, chairman of private sector think-thank, the Nigerian Economic Summit Group (NESG).
BusinessDay interactions with top private sector players suggest that they are warming up to offer political participation, as they grow frustrated on the fringes, watching the economy choke under pangs of politics.

 

LOLADE AKINMURELE