• Friday, May 03, 2024
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BusinessDay

Setting an agenda for Nigeria’s National Rebirth

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” Government , no matter where in the world should use power to help people. For we are given power not to advance our own progress, not to make a great show in the world, nor a name. There is but one just use of power, and it is to serve people – President George Bush

President George Bush was right. We abuse our power when we utilise it for self gains.. it is time for government to embark on a massive initiative to empower the people. Empower interestingly means to give your power away. This is what the people are longing for in their leaders to do. This is echoed in the holy bible. Matthew 20:26. Whoever wishes to become great amongst you shall be your servant.

The new set of leaders should borrow a leaf from former Governor Babangida Aliyu of Niger State who from day one of his administration showed intent to be a servant leader instead of a government that would lord it over the people of Niger state.

Governor Aliyu at every opportunity emphasised the fact that those elected into positions of authority were elected or appointed to serve, and so are supposed to be at the beck and call of the electorate, not the other way round. While he was “Chief Servant” his wife was “Madam Chief Servant” recognising the importance of the electorate.

We are delighted that the President elect Tinubu is talking about the Government of Competence and Quality for the service of the people.

In my short list of priorities for the new government are the following: Security , youth employment, power and the repair of the damaged naira.

Security and Youth Empowerment

The Tinubu – Shettima administration must prioritise security and youth employment and formulate policies to reduce security challenges to the barest minimum. One also hopes that the economic programmes will specifically target young persons. The president-elect, Bola Ahmed Tinubu has harped on the need for competence, and we hope he will walk his talk.

Beyond the foregoing, there is the urgent need to realign the nation’s educational curriculum with the needs of the economy. It has been said with some measure of justification that many of the school leavers and university graduates are unemployable, having regards to their training and skills. Therefore, our educational training curriculum must incorporate skills acquisition and entrepreneurial development so that graduates leave school with the capacity to create wealth rather than seeking jobs. For us to end the misery of Nigerians , we must begin to think along those lines.

Our educational training curriculum must incorporate skills acquisition and entrepreneurial development so that graduates leave school with the capacity to create wealth rather than seeking jobs

Says Tinubu “If voted into power, we will make sure that we replace violence and poverty with peace and agricultural machinery as well as manage the nation’s economy to prosperity.”

Read also: Government should accord Nigerians in diaspora right to vote – Offoha

New Economic Managers

It would be nice to announce key appointments immediately on assumption of office

The national power system needs the help of a focused and known workaholic like the former Governor of Lagos Babatunde Raji Fashola. The President elect Tinubu would be tempted to make him the Minister for Justice and Attorney General of the federation but we think he should return to the power ministry.

Fashola was the chief of staff to his predecessor and President elect Asiwaju Bola Ahmed Tinubu. As the candidate of the Action Congress party, now transformed to the All Progressives Congress party, Fashola succeeded Tinubu as governor of Lagos State on 14 April 2007. He led the Lagos infrastructural regeneration initiative consolidating Lagos as the fifth biggest economy in Africa ahead of Senegal , Rwanda , Cote D’Ivoire, Ghana , and others

Fashola focused on the rehabilitation of Lagos’ infrastructures. These infrastructures had been neglected for years after Abuja was declared the new capital of Nigeria in 1991. The modernisation of Lagos, which Tinubu had begun, accelerated under Fashola’s governorship. Both the private and public sectors were involved in the realisation of the project . The same need to be done at the national level for the comatose power system of Nigeria. He is one of the few Nigerians that can help reenergise the power sector.

Strengthening the Naira

It has been suggested that in the long term, a strong currency depends on economic fundamentals. To have a stronger exchange rate of Naira against other currencies, Nigeria will need a combination of low inflation, productivity growth, and economic and political stability to strengthen the naira.The transition team of the new government should be talking to the organised private sector to understand their pain point and start early to actualise solutions for the benefit of all stakeholders.

Presently, if Nigeria increases interest rates, this might not have any major positive effect on the exchange rates hence buying less foreign products and more of local products would help reduce the pressure on the naira.

Reduce corruption

Corruption is gradually becoming synonymous with Nigeria . Many politicians have been accused of not having a viable means of livelihood than involvement in politics. It’s a misery why they are reluctant to invest in Nigeria.

Most of the political office holders prefer to invest in UAE, USA, China and patronise hospitals in UK, Israel, Spain Germany and many thereby gradually pulling down Nigeria’s Gross Domestic Product (GDP). Medical tourists from Nigeria are helping those countries at the detriment of theirs.

In a report entitled “*Impact of Corruption on Nigeria’s Economy* ” by PricewaterhouseCoopers (PwC), a leading professional services firm, it stated that corruption had impacted the Nigerian economy negatively over time.

“The results of the study show that corruption in Nigeria could cost up to 37% of GDP by 2030 if it’s not dealt with immediately. This cost is equated to around $1,000 per person in 2014 and nearly $2,000 per person by 2030.

To sustain the value of the Naira, the government must find a workable way of fighting corruption regardless of political affiliation.

We wonder if the Tinubu administration would summon the courage to do the needful when in the saddle. .

Finally as part of the healing process post elections we urge politicians not to focus on less divisive issues like ethnicity and religion because we must all guard our fragile democratic system at all cost.

Michael Umogun is a chartered marketer with interest in public policy.