Sir: Corruption is dishonest or fraudulent conduct by those in power or position of authority. This is now becoming the ‘new normal’ in Nigeria and dangerous for our future! But it is not sustainable as it is a ‘leakage’ in the economy and has no limit to which it can be practiced. We all felt the military government before the 1979 civilian rule was financially reckless until we saw financial recklessness under Shehu Shagari administration between 1979 and 1983 in the federal level.
For sustainable economic growth in Nigeria, government must recognise why “we the people of the Federal Republic of Nigeria” have formed government, why everybody decided to surrender their sovereignty to a group of people in government and that there are different groups that must be taken care of in the country. As there are rich people in the country, so are poor people that must be taken care of.
The best way to ensure that there is welfare and security of lives and properties is to ensure that as many citizens as possible, especially the youths can get job. It is through the efficiency of the economy, that is, the youths contributing to the development of the nation as early as possible and knowing that there is dignity in labour that we can have a sustainable economic growth in Nigeria.
Section 16, economic objectives, states that: (1) The State shall, within the context of the ideals and objectives for which provisions are made in this constitution – (a) harness the resources of the nation and promote national prosperity and an efficient, a dynamic and self-reliant economy; (b) control the national economy in such manner as to secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity; (c) without prejudice to its right to operate or participate in areas of the economy, other than the major sectors of the economy, manage and operate the major sectors of the economy; (d) without prejudice to the right of any person to participate in areas of the economy within the major sectors of the economy, protect the right of every citizen to engage in any economic activities outside the major sectors of the economy.
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It goes further in sub-section (2) that: The state shall direct its policy towards ensuring – (a) the promotion of a planned and balanced economic development; (b) that the material resources of the nation are harnessed and distributed as best as possible to serve the common good; (c) that the economic system is not operated in such a manner as to permit the concentration of wealth or the means of production and exchange in the hands of few individuals or of a group; and (d) that suitable and adequate shelter, right to food and food security, reasonable national minimum living wage, old age care and pensions, and unemployment, sick benefits and welfare of the disabled are provided for all citizens.
Apart from provision of living wage and salary, the constitution in Section 16, subsection 2 (d), also provides for stipends to be paid to those who are unemployed, sick, disabled and old.
It is along this line that government must not only concentrate on revenue generation through increase tax burden and widening tax net alone, but through employment generation for the masses. It will be the best to consider the areas where we have comparative advantage for employment generation, wealth creation and economic growth.
It is a known fact that Nigeria, being a tropical nation, has comparative advantage in agriculture. It is also a fact that there is general apathy among youths to engage in agriculture because of the poor returns. It will be beneficial to the government to create farm estates across the nation with landholding of minimum of four acres and a residential estate in a cluster close by with two bedroom flats each, water provision, tarred roads to the farms and to towns for off-takers accessibility, recreation areas like football pitch and internet facilities.
These modern farm estates should be allocated to youths who are interested in farming on lease basis. The construction of these buildings will generate jobs for thousands of people in Nigeria and the supplies of building materials will create wealth for our people. Eventually, the exercise will ensure food security and our high dependence on imported foods and high food inflationary rates will cease.