The Federal Government says the real potential for Nigeria and the states seem to lie outside oil. Former Central Governor, Chukwuma Soludo, says states do not have to wait for Nigeria to fix its economy before tearing off to prosperity. And, the publisher of BusinessDay, Frank Aigbogun, wants the federal government and stat chief executives to lead the drive for media perception on Nigerian made goods to create a perception change. These are the highlights of the outcome of the economic summit mounted to mark 25 years of Delta State in Asaba last week.
The Big Heart as the state is called last week celebrated its 25 years of existence with a target to chart a new economy after oil (post-oil economy). The five-day event, which ended last week Sunday, August 28, also recorded an Economic and Investment Summit on Friday, August 26, where financial gurus in the country were present to assist Delta State Government chart a way towards ‘A Delta without Oil’.
State Governor Ifeanyi Okowa tells whoever that cares to hear of the pitiable economic situation of the state, asking for collective efforts to build a new Delta State. The state, he said, used to receive N20 billion and more as monthly allocation from the federal account but currently it is receiving N3 Billion with workers’ salaries still above N6 billion. The situation is so bad that the anniversary was solely financed by the private sector as 15 companies had to donate to ensure the celebration saw the light of the day.
Governor Okowa confessed to the audience at the summit thus: “Our partnership with the private sector is of utmost priority with us and we are pursuing it with relentless vigour, adopting robust and flexible private public partnership models that guarantee a win-win for all. Beyond the pomp and pageantry of the silver jubilee celebration, it is also an occasion for sober reflection; a time to pause, think deep and chart a new growth trajectory for the future of our great state”.
He reiterated that the need for foresight, careful planning, innovation and creativity has never been more urgent. According to him, the summit was necessary because, “With the ever-growing complexity, disruption and global competition of the 21st century, it is incumbent on us to build a strong, robust and resilient economy that is adaptable to the physical, social and technological changes that are a growing part of the age we live in. We must rise to the challenge now, or we lose out.”
The assurance he gave to the people of the state was that his administration was committed to repositioning Delta State as preferred investment destination.
Delta’s decision to hold the one-day summit so impressed the Minister of Finance, Kemi Adeosun, to state thus: “I think it is instructive that when other states are getting together for Gala Night, Delta has decided on a get together to deliberate on the economy and how to develop the state. I think it speaks of the seriousness of this particular administration on economy.”
The chairman of the summit, Jim Ovia, chairman, Zenith Bank Plc, in setting the ball rolling, told the participants that; “Delta State is a land of infinite possibilities. We should start thinking outside the box, we should think about alternatives to oil.”
President Muhammadu Buhari who was represented by the vice president, Yemi Osibanjo, gave kudos to Okowa for partnering with the private sector to create wealth for Deltans even as he observed that no society could grow without such collaboration. “There is no way we can create prosperity without the private sector because the public sector does not have the resources to ensure speedy development”.
He noted, “as a government, we have no choice but to create the environment for the private sector to thrive. I think the private sector must be a responsible partner, paying taxes and contributing to all manner of social activities that make the society truly great.”
While congratulating the government and people of Delta State for celebrating 25 years of the state’s creation, the Vice President observed that the greatest challenge facing governments at all levels in the country was having leaders who would have the courage and ability to stick to laid down plans. He said; “We are confronted today in our country with the challenge of leadership, we must take time to reflect on the type of leadership we have because governments in Nigeria have never been short of good ideas and good plans, but the challenge is sticking to the plan and getting desired results.”
The VP added; “Time has come to get results. Public officers must be held to account for their performances; time and resources are saved when qualified people are hired.”
He also appealed to those who were in positions of authority to build the trust of the people just as he asserted that we could only build that trust if we were trustworthy.
Frank Aigbogun, publisher/CEO, BusinessDay Media, in his contribution said the media should play a crucial role in bringing the desired change in the perception of Nigerians over Nigerian made goods.
“It is a wrong thing for us as a nation to depend on imported goods. As such, I believe that the governor has to take a lead and ensure that the state is there to ensure that the whole notion of ‘buy Nigerian goods’ is promoted and then expect that the rest of the citizenry begins to take the queue from them.”
Former Central Bank governor, Charles Soludo, in his keynote address, averred that the state could be the economic cum tourism destination of the world if the four sea ports, international airport, good road networks, etc, were well harnessed for the state to be accessed by sea, air and land. He said Delta State did not need to wait for Nigeria to be fixed. “Let me say that I am very glad to be here. The point I’m making is that I’ve gone to many summits. Sometimes, when you hear another summit is taking place, you almost ask: I hope this one will be different? My prayer is that that of Delta State Government at this particularly point in our history will be different.”
Continuing, Soludo said: “First 25 years gone, what happens in the next 25 years? That is where I want to focus my attention. Yes, the narrative is that of boom and doom – tension, terrorism, militancy, kidnapping, violence, etc. There is almost a tendency to ask whether anything would change; to ask whether anything would ever be different. Let me say that Nigeria is under excruciating pains but I still see hope. I see both the challenges but even more so the opportunities. I see the oil price collapse as an opportunity.
I actually thank God that the oil price has collapsed. I pray that God who gave Nigeria the oil should actually make it fall to $10 dollar per barrel. Because that is the only thing I see would get us out of the stupor because for too long we have lived with the borrowed load and I think for the next generation, for the 400 million Nigerians expected in this country by the year 2050, oil cannot be the way for the future; oil for the most part of Nigeria has been a curse and I thank God that at this particular moment we are moving forward, this is in my view that every disappointment is a blessing and this is now an opportune time for us to seek God’s blessing.”
Soludo, now president, Heritage Institution, Enugu, went on to note that the economic downturn globally has affected the Nigerian economy. As for him, Nigeria should face the challenge rather than lamenting. “Nigeria now should move to what I call the post-oil economy. That is the challenge of the day as there is now emerging consensus by Nigerians for the nation’s leadership to end all forms of excuses and fix the economy now. He said the current recession that Nigeria is into is largely self-inflicted, it was avoidable.”
Soludo called for unbundling of the country, saying the nation ought to be reformed both economically and politically. “We should go back to the version, may be not completely of the 1963 Republican Constitution, to the regions should have control over their resources including natural resources and simply pay tax to the federal government.”
He however said that Delta State did not need to wait until Nigeria’s economy was fixed: “And that is why my focus here is on Delta State: Envisioning the Island of Prosperity. Despite the melee, the gloom and doom and the narrative out there, Delta State must still be an Ireland of prosperity.”
Deltans, he said, should begin to think of good things to do to develop their state and environs. He emphasized on high concentration of skilled human capital and entrepreneurs of the state. “These are the talented skilled people of the state. I think on a practical basis, I don’t know how many states that have skilled men and women of money like Delta State.”
He advised that the state government should partner with the big entrepreneurs in the state to produce a blueprint to move the state forward. Also, he listed natural resources as potentials of the state just as he pointed out the potential navigable land and waterways of the state. In addition, Soludo said the state has advantage of location that could move it forward.
Adeosun in her own point believes that the country has not developed as it should have as the states look up to the centre instead of developing their own economies. She believes that Delta can show others the way. “Delta has all the ingredients. If Delta can’t make it, then we are all in trouble because Delta State has everything it needs to grow, everything it needs to stay including educated people, natural resources, population, advantage of location, arable land, etc. In fact, there is really nothing you don’t have. The only thing we need now is to execute on the potential. And that’s easier said than done, but until we get there.”
She went on: “So, the real potential of Delta keenly lies beyond oil. And as I’ve said you have young educated people. If you look at any profession, Deltans are there. As I was interestingly reading the history of the 25 years of Delta, none of the big names of successful Deltans made his/her money from oil. All the ingredients are actually there but the question now is ‘what do we do to actually unlock the potential?’ And I think to an extent the challenge is not unique to Delta. Indeed, Delta’s challenge is Nigeria’s challenge.”
The speakers proffered solution to Delta State Government on what to do to develop the state in the next 25 years, including patronage of Made-in-Nigerian goods. Though Soludo called on the federal government to review the policy restricting 41 items from foreign exchange, all the speakers were unanimous in their view that locally produced goods should be patronized as a measure to develop the economy. “We must eat what we grow,” they seemed to concur.
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