January 14, 2009
After inaugurating a new team of ministers following an interminable delay, the Nigerian president Umaru Yaradua at a federal executive council meeting on Wednesday 14th January charged his ministers that ‘it is time for action and visible results’. Unfortunately what is apparently lost on this president, his party and advisers is that he has long lost the ability to inspire anyone to hope.
The much hyped seven point agenda has gradually become recognized for what it is.. just a gimmick to disguise the lack of thought and direction of an idle government. For too long the excuse of the president being concerned about getting things done in the proper manner, due process, rule of law and a myriad of other buffoonish excuses have been used to hide the governments lack of insight.
For heavens sake we are not better at due process and rule of law than the United States but president elect Obama is already set to take over with ideas policies and a cabinet even before swearing in day. As usual however we in Nigeria are forced to swallow a fake pill, a pretend government which in actual fact has no idea of how or what it wants to govern, no convincing plans as to how it wants to improve the country.
Part of the price we pay for this government of inertia is that now we are back to the painful days of naira devaluation. Again while the whole world watched how the markets in the United States Europe and Asia were being ravaged by the global financial meltdown, our counterfeit government officials including the governor of the central bank continued to assure that the situation will not affect Nigeria.
Thus while other genuine governments that had a sense of responsibility and concern for their people frantically began different bailout and rescue measures, our lords of the manor sat pretty and lazy, watching and giving empty reassurances. The result today is a naira crashing faster than a downed passenger plane, national income dwindling due to reduced prices of crude oil in the international market and a stock market still in the doldrums.
Belatedly the government then sets up an economic advisory team, again a typical reactionary response of the government that has never shown ability to be proactive and also worryingly prone to hype and empty gestures to give a semblance of activity.
Next the central bank governor who admits a deliberate devaluation of the naira, now realizes that he has lost control of the situation and turns round blaming everyone but himself for the plummeting value of the naira and then the president himself, tongue in cheek, charges his ministers that it is time for action.
What a country. What squandered opportunity. After at least 3 years of a steady and strengthening naira absolutely nothing to show for it. A small hiccup and the naira plummets with the government nonplussed.
After two years of indolence, half of his term gone the president now charges the ministers to act. Act on what? With oil prices at an all time low and the naira fast losing all respect in the inter bank market, the ministers should now act.To do exactly what?
The fact is that this president has been poor at exhibiting visionary leadership and has established a reputation of ignorance.
Finally let me lift an excerpt from THIS DAY newspaper of Thursday 15th January 2009 where Attahiru Jega vice chancellor of Bayero University Kano and former ASUU president admonished the federal government on its response to the global financial crisis
I quote
‘Speaking on the Topic: “Nigerian Economy and Challenges of Leadership in a Period of Global Economic Recession”, Jega wondered why any responsible leader will want to run away from the reality of the world economic recession, by telling the people that all is well, when indeed the government should be working round the clock, looking for better ways of addressing the crisis.
“With the current world economic crisis, in which the economies of major Western countries have been devastated by the banking and financial crisis, and they are already being engulfed in a recession, the Nigerian economy, like those of other developing third world countries, is poised for a very rough and tough times.
“It is fool-hardy not to recognise this early enough and take necessary steps to minimise the likely negative consequences.”
According to him, the belief that the nation’s economy is “insulated” is either naive or reckless, “there is the urgent need to recognise that when major Western capitalist economies sneeze, feeble economies, such as Nigeria’s, easily catches pneumonia, no matter our wishful thinking”.
“Unless there is purposeful and focused leadership, with creative and intelligent handling of the economy, the impact of the global economic crisis on the Nigerian political economy would be profoundly negative and consequential”, he said.’
In summary today we have begun to reap the gains of the type of government we have allowed to emerge in this nation.
Lagos Nigeria
The much hyped seven point agenda has gradually become recognized for what it is.. just a gimmick to disguise the lack of thought and direction of an idle government. For too long the excuse of the president being concerned about getting things done in the proper manner, due process, rule of law and a myriad of other buffoonish excuses have been used to hide the governments lack of insight.
For heavens sake we are not better at due process and rule of law than the United States but president elect Obama is already set to take over with ideas policies and a cabinet even before swearing in day. As usual however we in Nigeria are forced to swallow a fake pill, a pretend government which in actual fact has no idea of how or what it wants to govern, no convincing plans as to how it wants to improve the country.
Part of the price we pay for this government of inertia is that now we are back to the painful days of naira devaluation. Again while the whole world watched how the markets in the United States Europe and Asia were being ravaged by the global financial meltdown, our counterfeit government officials including the governor of the central bank continued to assure that the situation will not affect Nigeria.
Thus while other genuine governments that had a sense of responsibility and concern for their people frantically began different bailout and rescue measures, our lords of the manor sat pretty and lazy, watching and giving empty reassurances. The result today is a naira crashing faster than a downed passenger plane, national income dwindling due to reduced prices of crude oil in the international market and a stock market still in the doldrums.
Belatedly the government then sets up an economic advisory team, again a typical reactionary response of the government that has never shown ability to be proactive and also worryingly prone to hype and empty gestures to give a semblance of activity.
Next the central bank governor who admits a deliberate devaluation of the naira, now realizes that he has lost control of the situation and turns round blaming everyone but himself for the plummeting value of the naira and then the president himself, tongue in cheek, charges his ministers that it is time for action.
What a country. What squandered opportunity. After at least 3 years of a steady and strengthening naira absolutely nothing to show for it. A small hiccup and the naira plummets with the government nonplussed.
After two years of indolence, half of his term gone the president now charges the ministers to act. Act on what? With oil prices at an all time low and the naira fast losing all respect in the inter bank market, the ministers should now act.To do exactly what?
The fact is that this president has been poor at exhibiting visionary leadership and has established a reputation of ignorance.
Finally let me lift an excerpt from THIS DAY newspaper of Thursday 15th January 2009 where Attahiru Jega vice chancellor of Bayero University Kano and former ASUU president admonished the federal government on its response to the global financial crisis
I quote
‘Speaking on the Topic: “Nigerian Economy and Challenges of Leadership in a Period of Global Economic Recession”, Jega wondered why any responsible leader will want to run away from the reality of the world economic recession, by telling the people that all is well, when indeed the government should be working round the clock, looking for better ways of addressing the crisis.
“With the current world economic crisis, in which the economies of major Western countries have been devastated by the banking and financial crisis, and they are already being engulfed in a recession, the Nigerian economy, like those of other developing third world countries, is poised for a very rough and tough times.
“It is fool-hardy not to recognise this early enough and take necessary steps to minimise the likely negative consequences.”
According to him, the belief that the nation’s economy is “insulated” is either naive or reckless, “there is the urgent need to recognise that when major Western capitalist economies sneeze, feeble economies, such as Nigeria’s, easily catches pneumonia, no matter our wishful thinking”.
“Unless there is purposeful and focused leadership, with creative and intelligent handling of the economy, the impact of the global economic crisis on the Nigerian political economy would be profoundly negative and consequential”, he said.’
In summary today we have begun to reap the gains of the type of government we have allowed to emerge in this nation.
Lagos Nigeria
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