Just as we are grappling with the ongoing EndSARS protest, the Federal government released a disappointing 2021 National Budget. And to put salt to injury, an audit report released on Monday 19th October revealed that the liabilities of NNPC as a group far outweigh the assets by a whooping N4.4 trillion.
With such an unprecedented level of liability, the auditors are highly doubtful of the continued existence of NNPC as a going concern. While the above is our situation, Saudi Aramco, the equivalent of NNPC in Saudi Arabia was the most profitable company in the world in 2019 with a profit of about $88.2 billion.
Relatedly, Equinor of Norway declared a net operating income of $9.3billion in the same year of 2019. The most disappointing aspect of our glaring failures as a Nation is that our leaders consistently show very poor understanding of the issues and the solutions required.
Obviously in so many instances with the reactions and handling of the EndSARS protest the most recent, the question is when will it get better? Reacting and handling the EndSARS issue as an isolated issue with the police is not only inappropriate but counterproductive.
EndSARS is just a tip of the litany of governance failures in Nigeria requiring urgent and holistic attention. Nigeria requires a deep and holistic overhaul!
Analysing our lamentable situation as a country and the reactions of the government, a friend exacerbated my worry with the request that we should intensify our prayers to avoid what happened in Roman Republic in 44BC and more recently in some African countries. Dissatisfied with his then governance style including the fear of overthrow of the Roman Republic to establish a monarchy, Roman senators led by Marcus Brutus, Decimus Brutus and Cassius Longinus conspired and killed Julius Caesar on the 15th of March 44BC.
Interestingly, a soothsayer had forewarned Caesar based on observations and deductions of actions and inactions of Caesar and other Roman leaders of their time. While it is about 2063 years that Caesar was killed and we do not wish, pray or support any killing or violent approach, it is important that our leaders pay utmost attention to demands and expectations of the citizenry as things are really falling apart.
While the EndSARs protest might likely reduce and possibly end, the possibility of another and more serious rounds of protests is very high as long as the cries of oppression, marginalisation, persecution, negligence, corruption, poor governance and other social vices that negate or suppress the freedoms and opportunities of citizens are not addressed.
When entire villages and communities are repeatedly attacked with many killed, injured and others permanently displaced even within their own country, another and higher protest is being prepared. Even though many of those killed and displaced are most of the time helpless and unable to fight back, the feelings of hate, oppression and desire for revenge are deep. An encounter with many poor, hungry and unemployed young men and women across Nigeria clearly shows that things are not well with our dear nation.
My friend Jonah from Chibok is a vivid example of a failing Nigeria. After running away from Chibok about 8 years ago, Jonah is unable to return or visit his most cherished village, powerless to see or even hear from his mother and younger ones, he is left frustrated and deeply embittered while he toils for daily survival on the streets of Lagos. As we have millions like Jonah in almost all parts of the country and with no clear and convincing plan to properly address their pitiable and avoidable sufferings, more and higher protests are being encouraged!
When very patriotic calls for the restructuring of the country based on overwhelming evidence that we are in a wrong direction and failing in all measures of acceptable human existence are ignored, we are preparing for more serious and impactful protests. The problem is not really with rejecting calls for restructuring, the frustration is the inability of the few who reject it to provide a convincing alternative or even commit to a proper discussion on the merits and demerits of restructuring for our dear country.
While being in power can create illusionary appreciation of our sad state as a country, it is important that they remember that power is transient and the appropriate legacy is to listen to wise counsels such as the rapidly growing calls for the restructuring of the country.
While being in power can create illusionary appreciation of our sad state as a country, it is important that they remember that power is transient and the appropriate legacy is to listen to wise counsels such as the rapidly growing calls for the restructuring of the country. Continuing to reject these genuine calls from South West, South East, South South, North Central, North East and even North West can only be described as allowing the feelings and sentiments that lead to both peaceful and violent protests to fester and grow in Nigeria.
When over 22 million brothers and sisters are reported as unemployed while our leaders especially the governors continue to seize unaccountable hundreds of millions of Naira every month in the name of security votes, then we are sprinkling the petrol that will light the next protests. Not only do they confiscate the hundreds of millions of naira, many of them seem to have abdicated their governance responsibilities such as job creation and provision of basic development amenities.
In such situations which is lamentably true of many of our states, the only feelings and behavior that will emerge and grow will be the ones that motivate both peaceful and violent protests. The same goes with our over-bloated and overpaid National Assembly members in a country described as the poverty capital of the world.
While the turn of events might be surprising to the government, PMB, governors and local government chairmen/ladies, it is not to many Nigerians who warned them for over 5 years just as they warned PDP for sixteen years with their cries, hardship, insecurity, joblessness, unprovoked killings and destruction of property. When it is reported that Nigeria is now the poverty capital of the world with about 91 million Nigerians living in extreme poverty, it should not be glossed over, rather, it should alarm us and trigger concerted short, medium and long term commitment and actions of the federal, state and local governments. No amount of accusation, counter accusation, denial and inaction will save any party, government or leader for long. Nigeria is at a tipping point and our leaders should beware the ides of March!
Dr. Ngwu, is an Economist/Associate Professor of Strategy, Risk Management & Corporate Governance, Lagos Business School and a Member, Expert Network, World Economic Forum. E-mail- [email protected],
