The Nation Newspaper

Tag: national development

  • Agenda for all-round national development

    The crisis of Nigeria underdevelopment as we have highlighted above can only confronted and resolved with a bold agenda and plan aimed at changing the present economy structure of dependence, it must be revolutionary massive and contain the following elements:

    i). It must aim within 10 to 15 years to expand the GDP by seven fold in order to be able to provide the needed resources to end poverty and underdevelopment on a sustainable basis.

    ii).  The New Nigeria Economic Development Plan must aim to encourage Domestic Capital Formation as a source of financing development rather than dependent on revenue from primary products such as oil and solid minerals. Giving present structure of international trade, the more developing countries export primary products, the less value they get. The revenue from exports proceed is usually so little that sometimes, they compete with revenue of just one corporation from advanced countries of Europe and America. Sample for all the fuse about the high oil receipts in 2013 in Nigeria, about US$50 billion, it compares only with the revenue of Disney world, which was US$47billion. Even if no cent was stolen from the oil receipts it will still be inadequate to finance any meaningful development that a country of 180million population requires.

    iii).       The New Nigeria Economic Development Plan must prioritize investment both from public and private investment in foundation industries that will imbue the Economic with the technical capacity for industrialization and manufacturing. These include immediate priority investment through joint venture financing in iron and steel, machine tools, chemicals, aluminum, glass, plastics and petrochemicals. These industries will help accelerate the process of ‘Domestic Capital Formation’ as they are industries directly connected with the production of Capital goods.

    iv).       The New Nigeria Economic Plan must sustain Nigeria as an open economy that encourages private entrepreneurship for both foreign and local investments side by side with State investments in projects linked to the production of capital goods and infrastructure.

    In order to sustain these essential features of Nigeria economy as an open society, the current relapse to the regime of impunity must be rolled back to the more positive administrative practice that respects the sanctity of contacts, a practice which encouraged Private Sector investment in the economy at the dawn of democracy in 1999 and the succeeding fifteen years after. This is important because, whereas business can handle corruption, business can not cohabit with impunity. Impunity and political blackmail of business hurts economy more than corruption.

    iv).       The New Nigeria Economic Plan must promote innovation, secured Property and copyright in order to make burgeoning ICT sector witness rapid expansion. Protection of copyright will also promote increase scientific research and its commercialization; it will spur innovation in science and arts.

    v).        Agriculture must be linked to Manufacturing and Industry. Currently, over 70% of employed hands in Nigeria are engaged in one form of agriculture or the other compared to about 2% of American. But the total productivity of these 70% engaged hands in Nigeria’s agricultural sector is less than that of 2% of Americans.

    It must therefore be a central objective of the New Nigeria Agricultural policy not only to increase productivity through State support such as provision of extension services to small holders, finance at low interest rate on individual and cooperative basis; but also to link agricultural sector directly to industry and manufacturing in specifically designated zones and Economic clusters, where Agriculture is integrated with industry. Increase agricultural productivity will have meaning within the economy and that agriculture will cease to be a business just to produce for the stomach but to produce vital raw materials for industries and the manufacturing sector; the most effective way to create employment

    vii)       The New Nigeria Economic Plan must seek to transform the Nigeria Economy to a manufacturing Economy from agrarian economy and change it from an economy that is based on production of primary products. Currently, according to FBS record, manufacturing accounts for 9.43% of Nigeria GDP while it provides as low as 0.3% of employment. Transferring the economy to a manufacturing will entail a number of policy incentives, such as creating a fiscal environment and collaborative monetary policy that will allow promoters of manufacturing concerns to accessing finance at single digit rate, ensuring available power to reduce manufacturers’ energy costs. Ultimately, Nigeria needs to grow the manufacturing sector in such a way that it will account for 30-40% of her GDP and be a major employer of labour. China is already an example of how an agrarian economy can be transformed into a manufacturing economy. As at 2015, manufacturing accounts for 40% of GDP of China. As at 2005, the manufacturing sector was also responsible for 11% of total employment. In India, the Industrial Sector accounts for robust 25% of GDI.

    Full employment as a policy of achieving growth and development.

    As earlier observed, unemployment is at an all time high in Nigeria, at national level, stood at 18.6%, this is a recipe for an unending chaos. Full employment through value creating jobs is not just a social policy to help the needy but an economic policy to continuously sustain economic growth for a strong population with disposable income, is a key driver to attract investment into new ventures, industries and infrastructures. Economists such as Lord Maynard Keynes, who was the Chancellor of the Exchequer in England understood clearly the role of creating employment in bailing out a depressed economy in other to stimulate growth. It must be a policy of the New Nigeria Economy to stimulate employment in Agro-Allied industry, ICT, Manufacturing, infrastructure, solid minerals extraction, not just for exports but linked to the needs of local industries.

    Pestructuring public finance, and the financial sector for a growth led strategy.

    In order to direct available finance in the country for key task of industrialization; the country must prioritize available finance for modernizing the country’s infrastructure.

    The trend in which 80% of revenue in the nation’s budget has been disproportionately consistently applied to recurrent expenditure; whilst capital expenditure takes the back seat at 20% must be discounted

    To begin with, it must be the goal of public finance to allocate 50% of revenue to capital expenditure.

    Secondly, there must be a complete change in the budgeting system from the current envelope system where annual budget are merely a repeat of previous year sectorial allocation with variations, accounting for inflation. Budgeting must become NEEDS-BASED, driven by national economic priority, based on a new plan to build modern infrastructure, make the needed social investment for the country and industrialize Nigeria.

    Thirdly, another element of financial reform that Nigeria needs to undertake is to ensure banking and financial sectors make capital available to the real sector of the economy. Whereas, monetary policy formulation is within the competence of the Central Bank which has autonomy over this matters, the necessary coordination between the fiscal and monetary Authorities must be generated to allow the new reform, which must also include bringing down the present unsustainable lending rate to a single digit. At 17.5% – 25% lending rate in the Nigeria financial market, no meaningful industrialization can take place as industrialists and manufacturers from other countries take money for business for as low as 4%. In Malaysia, prevailing lending rate is 4.9%; China is 4.35%; India is 9.45%; South Africa is 10%. Nigeria must move within the single digit band.

    Removing bottlenecks to promote investments in the economy

    As previously observed, the high interest rate of return that investment posts in Nigeria plus the size of the market should naturally recommend the country as a perfect investment destination. But the ability to attract massive private sector investments both from Nigerian and foreign investors has been limited by unnecessary hurdles investors face in trying to obtain permits, licenses, approvals etc. Paper works in Nigeria take more time than even the time developer spend in building infrastructure that the nation desperately needs, whilst it was the good intention of the drafters of the constitution and various legislations to provide autonomy to many regulatory agencies to protect them from unnecessary interventions, the autonomy granted have in most cases been turned to protection for administrative incompetence, which has continuously impeded the ability of the country to net needed investments. These particular problems have acquired international notoriety. Whilst some progress has been made through the initiative of the office of the Vice President of Nigeria between 2016 – 2017, the progress made in the ease of doing business needs to be more rapid. At the moment in Nigeria was ranked 145th out  of 190 countries in the World Bank ease of doing business report in 2018.

    The time has come to dismantle the bottlenecks through a coordinated reform prowess that will be collaborative between both the executive and the legislative. The desired change in the regulatory system of the various sectors of the economy must reduce waiting time on licensing and permits to 90 days and not 2-3 years, as is current practice. It must also make regulatory agencies accountable in the performance of their duties as autonomy now means literally, lack of accountability.

    Prioritizing investment in electricity generation, distribution and transmission.

    Distinguished guests, ladies and gentlemen; Building an industrialized and modern economy will be impossible without simultaneously directing national energy to rapidly increasing electricity generation, distribution and transmission. The current national electricity generation capacity of about 6,000megawatts is too little a capacity for any meaningful development compared to South African’s generation capacity of more than 40,000megawatts capacity. Nigeria need to aim for over 160,000MW capacity within Ten (10) years to be at per with South Africa per capital generation, and also eliminate current inefficiency in electricity distribution and establish a fair and consumer friendly electricity tariff that will as well be cost recoverable to attract an estimated 200billion Dollar investments from both private and public sectors for the next Ten (10) years.

    As enumerated earlier in our paper on “Facilitating Resilient and Sustainable Infrastructural Development”, there must be “Administrative and Regulated” reforms to eliminate bureaucratic bottlenecks in the power sector, quickly to make the needed investment to flow into the sector.

    Making social investments the soul of our development agenda

    Nigeria as a country has been pulling apart because of rising incidence of poverty, squalor and unemployment. Inequality and the attendant misery have been rising, occasioning massive social instability and insecurity.

    An agenda for development cannot just concern itself with expanding GDP and raising infrastructure expenditures alone. But must focus on pin-point targeted expenditure on health, education, the youth population and investment in social services.

    The reason why Nigeria is experiencing massive social upheavals is not just because it has low income per capital but due also to the fact that available income is not being applied averagely for the welfare of all. Various African countries with half Nigeria’s income per capital post better development indicators.

    As we have observed elsewhere, “The social problems are not going to abate except Nigeria invests immediately in the welfare of the people. According to a recent study by the African Development Information Centre, by 2030, Nigeria’s population will grow to about 210 million; 70 million of this forecast population will be living in North- Eastern Nigeria where there is currently an extremist insurgency; 35 million of which will be under the age of fifteen and would not have received any form of formal education. This is alarming!

    We must invest now to bridge the social divide by making primary and secondary education completely free of all cost with feeding and welfare support at primary school levels. This must be a federally financed program worked out with local authorities for effective implementation. Free education must be entirely free indeed without hidden cost such as examination fees and cost of uniforms.

    The quality of educational and health institutions must be upgraded through the recruitment of qualified professionals, training and retraining of existing hands making available needed equipment and infrastructure and improving productivity and output through a scientific audit system that ties reward and emoluments to performance.

     

    Nigeria must quickly introduce a comprehensive program of accessible, cost-free and qualitative health service coverage for all Nigerians. Nigeria can afford these programs right now as we are already spending billions of dollars managing the social upheavals that are caused by decades of ignoring the welfare of the people especially the young and the vulnerable”.

    CONCLUSION

    Ladies and Gentlemen, the task before patriotic Nigeria who have assigned to themselves the role to see a new, modern, economical developed Nigeria with a prosperous population living in peace and security is daunting but achievable!

    This great nation Nigeria has seen many national challenges in the past resolved by the determination of her people. Our forbears overcome colonial rule by the share power of their determination, organisation and faith in the future. Our generation paid the price to rescue the established Nigerian Democracy after independence from the jaw of military autocracy. The task at hand is to ensure a prosperous democratic Nigeria for all, where the country resources and talents will be applied for all, regardless of ethnicity and religion.

    We can build that new Nigeria together. On my part, you can COUNT ON ME.

     

    Concluded

     

    .Being the text of a lecture delivered by Olawepo-Hashim at the College of Postgraduate studies Obafemi Awolowo University, Ile-Ife

  • Agenda for all round national development

    Nigeria to all intents and purposes still remains a country classified as “Underdeveloped” making the question of an “Agenda for all round National Development” topical and germain.

    With 62% of the population living below 2USD a day, and considered poor, with life expectancy of 51 years, and over 40% illiterate population, bedevilled with a parlous infrastructure such as poor electricity distribution, poor road networks, and dilapidated health infrastructure, the underdevelopment profile was in bad relief.

    Though by the sheer nature of superiority of democracy over autocracy, Nigeria made some little gains between 1999-2015. Such gains where almost completely wiped off by 2015 July-2016 when the nation’s economy started contracting leading to her worst economic recession in 25 years -2.4%.

    Just for the records, some of the remarkable gains between 1999-2015, were average life expectancy in Nigeria was increased from 46years as at 1990 to 51 years, telephone use increased from 400,000 to 100,000,000 million lines, the economy posted an average annual growth rate of 6% consistently for 15 years leading to the expansion of the GDP to 510 billion USD in 2013. The Nigerian economy thus became the largest economy in Africa over taking the economy of South Africa. However the above gains especially in the economy fronts was so little to match the rate of poverty and underdevelopment of the country, fragile  and unsustainable. In 2016 the bubble busted and the economy moved to a negative growth only to be reflated by massive external borrowings. The massive loans taken could only achieve a sluggish growth of 1.5% compared to a huge external debt which quickly grew to about 18 billion dollars in 2 years from a low figure of below 2 billion USD as at May 2015.

    We are still waiting for outcome of various studies to show us the impact of what has so far happened to the Nigerian economy and society, since the economic recession of 2016. Current data from the Federal Bureau of statistics are horrifying and the indicators horrendous. FBS statistics reveals that unemployment picked from 6.3% in 2015 to 18.6% by 2017 an increase of 300%. Worst still among the youths, it is a record high of 36% little wonder why there is so much upheavals in the land. Therefore a platform to interrogate the Agenda for all round development of Nigeria, to fashion out a sustainable strategy for growth and development so that the country can live in peace, stability and prosperity cannot be more relevant than now.

    Once again, great Ife has proved truly great for creating the platform for this important discuss.

    What is Development?

    Development has been defined in multifarious ways by scholars of different shades. In the 70s a tribe of scholars of African Sociology and Economics led by the Guyanist scholar of Africa descent Walter Rodney were pre-occupied with this subject matter; they were known as Development and Underdevelopment theorists.

    Walter Rodney in his seminar work “How Europe Underdeveloped Africa” examined development at the individual level as “increased skills and capacity, greater freedom, creativity, self-discipline, responsibility and material wellbeing”.

    Walter Rodney like his later disciples, Samar Amin, Bade Onimode, Nzogola Ntalaja et al, applied their interrogation of the subject-matter of development beyond the individual to society, and the economy and also adopted models of interpretation of history and characterization of different epochs of development. In the Economic realm, Rodney opines that “A society develops economically as its members increase jointly their capacity for dealing with the environment. This capacity for dealing with the environment is dependent on the extent to which they understand the laws of nature (science) and the extent and manner in which work is organised”.

    We must however inform that apart from the development theories other Schools of thoughts such as modernist school, also at one point or the other examined these same concept of development and constructed their own modules.

    For the purpose of this lecture, we shall stick to a safe zone by looking out for what is now universally acceptable for measuring development.  – The tables of indices developed by the United Nations Development Project (UNDP) as indicators to measure development, this is the human development index.

    Apart from economic growth the United Nations developed a number of indices through which development can be measured from country to country. According to the UNDP the human development index (HDI) was created to emphasize that people and their capacities should be the ultimate source of accessing the development of a country not just economic growth.

    The HDI indices therefore includes GNI per capital, health (Life expectancy), Knowledge, (Education, School enrolment etc.).

    How does Nigerian fare under the Hdi?

    GNI per Capital:

    Nigerian per capital income as at 2016 was 5,438.9 USD 1/3 of the worlds average per capital income. In comparative terms to Asian countries and other middle-income nations who were perhaps at the same level of development with Nigerian at independence in 1960. Nigerian per capital income is disappointing. Here are a few example. Thailand 17,786 USD Chile 24,584 USD, Turkey 26,453 USD, Iran 20,030 USD and Mauritius 21,628 USD. Any reasonable development plan for Nigerian must therefore hope to increase GNI per capital by 7 folds within the next 10-15years in other to achieve a level considered at per with middle income countries.

    Health and life expectancy

    Though we have earlier observed some important improvements in life expectancy in Nigeria from 46.1 years in 1990 – 53.1 years in 2015, the country’s life expectancy record is still depressing compared to Liberia 61 years, Niger 61.8 years, Sudan 64.1 years, and Rwanda 66.1 years and far apart from Cuba’s 79.1 years, Norway’s 81 years and 79.2 years in United States. All these countries have gone through sustained civil wars, some pogroms, some civil wars combined with outbreak of epidermis, but still have better life expectancy figure compared to Nigeria.

    Education

    While Nigerians in diaspora remains the most educated set of immigrants in percentage terms compared to their various host communities, at home illiteracy level is still as high as 46%.

    HDI Ranking

    Based on all indices measured in 2016, Nigerian ranked 152 of 188 countries measured in UNDP 2016 Human Development Index (HDI). It fell below Kenya and some other African countries in the West African Sub-Region.

    The data from Federal Bureau of Statistics have been equally as damning on the performance indicators on sustainable development goals in Nigeria just as the UNDP HDI report. As they “say figures do not lie”.

    In the Sustainable Development Goals (SDG’S) baseline report 2016 Published by the Federal Bureau of Statistics (FBS) most of the indicators are woeful, particularly as it affects the young and the youths. Current data indicate that Nigeria has never so ignored her young people as much as it’s currently doing.

    Let us review some few data here: 36% of Nigerian youths are currently unemployed. 20% of youths are currently not in any employment, education or training. They are completely hopeless. For children too, even though not so much is done for them through public policy or family; the adult in the world extract so much from them in terms of forced labour. The FBS study indicates that 47.1% percent of children between ages 5 – 17 are engaged in some form of unpaid labour or the other. It is tragic that our country has become less caring and more vicious in the abuse of her younger population.

    We can change the Nigerian story.

    Distinguished Guest, Ladies and Gentlemen despite the above negative indicators in human Development Index I remain optimistic about Nigerian development trajectory when we tap and build on the energy, creativity, imagination and the industry of everyday Nigerian which is the most important asset that Nigeria possess beyond her Oil wealth and Natural resources.

    As we pointed out at Imperial college London in November 2016 “It is due to the hard work and industry of the ordinary Nigerians the nation’s greatest asset that Nigeria attained a GDP rebased of 510 billion USD in 2013 exceeding that of South Africa to become the biggest African Economy even in  the face of her Parlous infrastructure. The fit was a result of the toiling of small scale entrepreneurs who continue to create value without adequate electricity, cottage food processor, without affordable financing, farmers with the scantest of state support artisans, bold and imaginative business men and women, dynamic financial managers, young innovators, creative artist, “hardworking professionals and intellectuals”.

    Credible international consulting groups such as Price Water Cooper share in our optimism. According to Price Water and Cooper Nigerian economy will grow to be the 9th largest economy in the world in 2050 based on very dynamic key drivers of the economy that has to do with the strength of Nigerians people, the size of her market and less with excellence in governance. Below are some of the key drivers that offers possibilities for rapid investment and growth of Nigeria.

    1. Nigeria has a robust middle class which according to Standard bank reportedly grew 6 folds between 2000-2010
    2. Nigeria has a large market of potential consumers of modern goods and services. This consumers have an attractive profile for investors and manufacturers they already have acquired the discipline to pay for consumption through savings and earnings and have low household debt.

    III.         The infrastructure deficit of the country is both a challenge as well as an opportunity for investment. Out there in the global market according to Oxford economist and PricewaterCooper, there is about 4.78 Trillion USD globally to spend within Ten (10) years looking for infrastructure market to domicile. Nigeria’s hunger for infrastructure investment and with a high record of IRR (above 18%) makes it a natural destination for massive investment if simple bureaucratic hurdles that have continuously impeded investments can be dismantled.

    To be added to the above strength of the Nigerian nation is the nation’s resourceful diaspora community these community of scientist, intelligentsia, innovators, professionals, footballers and Entrepreneurs are adding golden pages to the Nigeria rising story. In 2013 foreign remittances picked as much as 21 billion dollars to Nigeria, mostly coming from the Nigeria diaspora. The diaspora community will continue to form a major pillar in the architecture of Nigerian Socio-economic development. Even in the face of many other negative stories all over the world educated Nigerians are doing well and making the nation proud. The Imafidon twins Paula and Peter broke the world record in mathematics by passing the Cambridge exams at age 8, being the youngest ever to do so. Dr Victor Olalusi who scored 5.0 GPA in the faculty of clinical sciences at the Russian national medical university in 2013 is arguably the first in the world to do so. There are numbers of Americans of Nigerian decent such as Emeka Echeruo founder of hopstop.com purchased by apple at a price of 1 billion USD, who are doing the nation proud in the ICT world. Young Nigerians at home and abroad are proving their exceptional brilliance; 24years old Oluwatobi Olasukanmi won the Williams Charleny prize for the best first class law at the University of Cambridge. Nigerian youths are not just strong and energetic they are bright and brilliant and they compete well anywhere in the world.

     

     

     

     

     

     

    The crisis of Nigeria underdevelopment as we have highlighted above can only confronted and resolved with a bold agenda and plan aimed at changing the present economy structure of dependence, it must be revolutionary massive and contain the following elements:

    i).           It must aim within 10 to 15 years to expand the GDP by seven fold in order to be able to provide the needed resources to end poverty and underdevelopment on a sustainable basis.

    ii).         The New Nigeria Economic Development Plan must aim to encourage Domestic Capital Formation as a source of financing development rather than dependent on revenue from primary products such as oil and solid minerals. Giving present structure of international trade, the more developing countries export primary products, the less value they get. The revenue from exports proceed is usually so little that sometimes, they compete with revenue of just one corporation from advanced countries of Europe and America. Sample for all the fuse about the high oil receipts in 2013 in Nigeria, about US$50 billion, it compares only with the revenue of Disney world, which was US$47billion. Even if no cent was stolen from the oil receipts it will still be inadequate to finance any meaningful development that a country of 180million population requires.

    iii).        The New Nigeria Economic Development Plan must prioritize investment both from public and private investment in foundation industries that will imbue the Economic with the technical capacity for industrialization and manufacturing. These include immediate priority investment through joint venture financing in iron and steel, machine tools, chemicals, aluminum, glass, plastics and petrochemicals. These industries will help accelerate the process of ‘Domestic Capital Formation’ as they are industries directly connected with the production of Capital goods.

    iv).        The New Nigeria Economic Plan must sustain Nigeria as an open economy that encourages private entrepreneurship for both foreign and local investments side by side with State investments in projects linked to the production of capital goods and infrastructure.

    In order to sustain these essential features of Nigeria economy as an open society, the current relapse to the regime of impunity must be rolled back to the more positive administrative practice that respects the sanctity of contacts, a practice which encouraged Private Sector investment in the economy at the dawn of democracy in 1999 and the succeeding fifteen years after. This is important because, whereas business can handle corruption, business can not cohabit with impunity. Impunity and political blackmail of business hurts economy more than corruption.

    iv).        The New Nigeria Economic Plan must promote innovation, secured Property and copyright in order to make burgeoning ICT sector witness rapid expansion. Protection of copyright will also promote increase scientific research and its commercialization; it will spur innovation in science and arts.

    v).         Agriculture must be linked to Manufacturing and Industry. Currently, over 70% of employed hands in Nigeria are engaged in one form of agriculture or the other compared to about 2% of American. But the total productivity of these 70% engaged hands in Nigeria’s agricultural sector is less than that of 2% of Americans.

    It must therefore be a central objective of the New Nigeria Agricultural policy not only to increase productivity through State support such as provision of extension services to small holders, finance at low interest rate on individual and cooperative basis; but also to link agricultural sector directly to industry and manufacturing in specifically designated zones and Economic clusters, where Agriculture is integrated with industry. Increase agricultural productivity will have meaning within the economy and that agriculture will cease to be a business just to produce for the stomach but to produce vital raw materials for industries and the manufacturing sector; the most effective way to create employment

    vii)       The New Nigeria Economic Plan must seek to transform the Nigeria Economy to a manufacturing Economy from agrarian economy and change it from an economy that is based on production of primary products. Currently, according to FBS record, manufacturing accounts for 9.43% of Nigeria GDP while it provides as low as 0.3% of employment. Transferring the economy to a manufacturing will entail a number of policy incentives, such as creating a fiscal environment and collaborative monetary policy that will allow promoters of manufacturing concerns to accessing finance at single digit rate, ensuring available power to reduce manufacturers’ energy costs. Ultimately, Nigeria needs to grow the manufacturing sector in such a way that it will account for 30-40% of her GDP and be a major employer of labour. China is already an example of how an agrarian economy can be transformed into a manufacturing economy. As at 2015, manufacturing accounts for 40% of GDP of China. As at 2005, the manufacturing sector was also responsible for 11% of total employment. In India, the Industrial Sector accounts for robust 25% of GDI.

    FULL EMPLOYMENT AS A POLICY OF ACHIEVING GROWTH AND DEVELOPMENT.

    As earlier observed, unemployment is at an all time high in Nigeria, at national level, stood at 18.6%, this is a recipe for an unending chaos. Full employment through value creating jobs is not just a social policy to help the needy but an economic policy to continuously sustain economic growth for a strong population with disposable income, is a key driver to attract investment into new ventures, industries and infrastructures. Economists such as Lord Maynard Keynes, who was the Chancellor of the Exchequer in England understood clearly the role of creating employment in bailing out a depressed economy in other to stimulate growth. It must be a policy of the New Nigeria Economy to stimulate employment in Agro-Allied industry, ICT, Manufacturing, infrastructure, solid minerals extraction, not just for exports but linked to the needs of local industries.

    RESTRUCTURING PUBLIC FINANCE, AND THE FINANCIAL SECTOR FOR A GROWTH LED STRATEGY.

    In order to direct available finance in the country for key task of industrialization; the country must prioritize available finance for modernizing the country’s infrastructure.

    The trend in which 80% of revenue in the nation’s budget has been disproportionately consistently applied to recurrent expenditure; whilst capital expenditure takes the back seat at 20% must be discounted

    To begin with, it must be the goal of public finance to allocate 50% of revenue to capital expenditure.

    Secondly, there must be a complete change in the budgeting system from the current envelope system where annual budget are merely a repeat of previous year sectorial allocation with variations, accounting for inflation. Budgeting must become NEEDS-BASED, driven by national economic priority, based on a new plan to build modern infrastructure, make the needed social investment for the country and industrialize Nigeria.

    Thirdly, another element of financial reform that Nigeria needs to undertake is to ensure banking and financial sectors make capital available to the real sector of the economy. Whereas, monetary policy formulation is within the competence of the Central Bank which has autonomy over this matters, the necessary coordination between the fiscal and monetary Authorities must be generated to allow the new reform, which must also include bringing down the present unsustainable lending rate to a single digit. At 17.5% – 25% lending rate in the Nigeria financial market, no meaningful industrialization can take place as industrialists and manufacturers from other countries take money for business for as low as 4%. In Malaysia, prevailing lending rate is 4.9%; China is 4.35%; India is 9.45%; South Africa is 10%. Nigeria must move within the single digit band.

    REMOVING BOTTLENECKS TO PROMOTE INVESTMENTS IN THE ECONOMY

    As previously observed, the high interest rate of return that investment posts in Nigeria plus the size of the market should naturally recommend the country as a perfect investment destination. But the ability to attract massive private sector investments both from Nigerian and foreign investors has been limited by unnecessary hurdles investors face in trying to obtain permits, licenses, approvals etc. Paper works in Nigeria take more time than even the time developer spend in building infrastructure that the nation desperately needs, whilst it was the good intention of the drafters of the constitution and various legislations to provide autonomy to many regulatory agencies to protect them from unnecessary interventions, the autonomy granted have in most cases been turned to protection for administrative incompetence, which has continuously impeded the ability of the country to net needed investments. These particular problems have acquired international notoriety. Whilst some progress has been made through the initiative of the office of the Vice President of Nigeria between 2016 – 2017, the progress made in the ease of doing business needs to be more rapid. At the moment in Nigeria was ranked 145th out  of 190 countries in the World Bank ease of doing business report in 2018.

    The time has come to dismantle the bottlenecks through a coordinated reform prowess that will be collaborative between both the executive and the legislative. The desired change in the regulatory system of the various sectors of the economy must reduce waiting time on licensing and permits to 90 days and not 2-3 years, as is current practice. It must also make regulatory agencies accountable in the performance of their duties as autonomy now means literally, lack of accountability.

    PRIORITIZING INVESTMENT IN ELECTRICITY GENERATION, DISTRIBUTION AND TRANSMISSION.

    Distinguished guests, ladies and gentlemen; Building an industrialized and modern economy will be impossible without simultaneously directing national energy to rapidly increasing electricity generation, distribution and transmission. The current national electricity generation capacity of about 6,000megawatts is too little a capacity for any meaningful development compared to South African’s generation capacity of more than 40,000megawatts capacity. Nigeria need to aim for over 160,000MW capacity within Ten (10) years to be at per with South Africa per capital generation, and also eliminate current inefficiency in electricity distribution and establish a fair and consumer friendly electricity tariff that will as well be cost recoverable to attract an estimated 200billion Dollar investments from both private and public sectors for the next Ten (10) years.

    As enumerated earlier in our paper on “Facilitating Resilient and Sustainable Infrastructural Development”, there must be “Administrative and Regulated” reforms to eliminate bureaucratic bottlenecks in the power sector, quickly to make the needed investment to flow into the sector.

    MAKING SOCIAL INVESTMENTS THE SOUL OF OUR DEVELOPMENT AGENDA

    Nigeria as a country has been pulling apart because of rising incidence of poverty, squalor and unemployment. Inequality and the attendant misery have been rising, occasioning massive social instability and insecurity.

    An agenda for development cannot just concern itself with expanding GDP and raising infrastructure expenditures alone. But must focus on pin-point targeted expenditure on health, education, the youth population and investment in social services.

    The reason why Nigeria is experiencing massive social upheavals is not just because it has low income per capital but due also to the fact that available income is not being applied averagely for the welfare of all. Various African countries with half Nigeria’s income per capital post better development indicators.

    As we have observed elsewhere, “The social problems are not going to abate except Nigeria invests immediately in the welfare of the people. According to a recent study by the African Development Information Centre, by 2030, Nigeria’s population will grow to about 210 million; 70 million of this forecast population will be living in North- Eastern Nigeria where there is currently an extremist insurgency; 35 million of which will be under the age of fifteen and would not have received any form of formal education. This is alarming!

    We must invest now to bridge the social divide by making primary and secondary education completely free of all cost with feeding and welfare support at primary school levels. This must be a federally financed program worked out with local authorities for effective implementation. Free education must be entirely free indeed without hidden cost such as examination fees and cost of uniforms.

    The quality of educational and health institutions must be upgraded through the recruitment of qualified professionals, training and retraining of existing hands making available needed equipment and infrastructure and improving productivity and output through a scientific audit system that ties reward and emoluments to performance.

    Nigeria must quickly introduce a comprehensive program of accessible, cost-free and qualitative health service coverage for all Nigerians. Nigeria can afford these programs right now as we are already spending billions of dollars managing the social upheavals that are caused by decades of ignoring the welfare of the people especially the young and the vulnerable”.

    CONCLUSION

    Ladies and Gentlemen, the task before patriotic Nigeria who have assigned to themselves the role to see a new, modern, economical developed Nigeria with a prosperous population living in peace and security is daunting but achievable!

    This great nation Nigeria has seen many national challenges in the past resolved by the determination of her people. Our forbears overcome colonial rule by the share power of their determination, organisation and faith in the future. Our generation paid the price to rescue the established Nigerian Democracy after independence from the jaw of military autocracy. The task at hand is to ensure a prosperous democratic Nigeria for all, where the country resources and talents will be applied for all, regardless of ethnicity and religion.

    We can build that new Nigeria together. On my part, you can COUNT ON ME.

    God bless GREAT IFE!

    GOD BLESS NIGERIA!!.

    Thank You.

     

     

  • Don recommends automation as kernel for national development

    A professor of Design, Automation and Energy, Landmark University, Omu Aran, Kwara State, Christian Osueke, is seeking the adoption of automation as the major catalyst toward achieving national growth and development.

    Osueke, of the Department of Mechanical Engineering, spoke yesterday while delivering the institution’s 5th inaugural lecture.

    He spoke on: “Divine Secrets: The Booster of Innovative Design and Automation”.

    The don said such adoption became necessary to reduce production cost and eliminate waste.

    He defined automation as entailing the use of machines and material handling equipment to carry out manufacturing processes with high level of speed, consistency and precision beyond the capacity of human.

    According to him, the continuous application of muscular efforts in form of hand pressure leads to fatigue, loss of concentration and inaccurate production.

    Osueke said the world was in the era of innovative design and automation, soft and hardware usage, geared toward achieving enhanced productivity, adding that Nigeria should not be an exception.

    He said: “Technology determines the level of the nation’s security. Technology eradicates food insecurity. We are in the era of adaptive control, the era of innovative design and automation, the era of soft and hardware usage in enhancing productivity,”

    The don said the country was in need of transformation and economic development, adding: “It is the local content technological revolution that can assist in achieving such desired transformation.”

    He said: “The nation cannot continue to depend on imported technology and food and expect it to be classified as a developed country. Rather, innovative design and automation are the answer to the technological revolution and self-sufficiency through the release of divine secrets.”

    Osueke, who bemoaned the nation’s poor and inadequate energy regime, said such could be a hindrance toward achieving the desired technological breakthrough.

    He noted that the imbalance between rate of energy supply and demand is responsible for the high cost of goods and services experienced across the country.

    “Industries were forced to generate their power in the course of production, while homes are not left out in the energy demand,” Osueke said.

    “Almost all homes now have generators, despite the abundant supply of natural resources, such as coal, hydro, natural gas, crude oil, etc.”

    The don said government’s efforts toward strengthening the private sector as engine of growth through improved efficiency and waste reduction could only be achieved by efficient electricity generation.

    The Vice Chancellor, Prof. Adeniyi Olayanju, reiterated the institution’s commitment to upholding functional capacity as a means of driving solution to societal challenges.

    He said the university prioritised spiritual core values, adding that such had earned it access to the divine secrets that had continued to define its operations and accomplishments.

    “It is a great privilege to have a spiritual father, an exemplary leader and visionary of high repute as our Chancellor, Dr. David Oyedepo, whose support for quality education cannot be overemphasised,” Olayanju said.

    “This is evidenced in his immensurable investment in Landmark University, the conducive environment created for raising not only global leaders but also deserving professors from young academics,” he concluded.

  • ‘Exercise tool for national development’

    Exercise as a weapon for national development was the highlight when women, under the umbrella of The African Women Network (TAWN), gathered at the National Stadium in Surulere, Lagos, OLATUNDE ODEBIYI writes.

    For the women from various sectors, tribe and religion, under the umbrella of The African Women Network (TAWN), exercise is a tool for national development.

    Many women and children participated in the exercise at the National stadium in Surulere, Lagos State. They were led by various groups and individuals, including the Safari Dance Team, Zumba Dance Team and Coach Bello Adams, in various aerobics.

    The exercise was part of activities  marking TAWN Fit Woman programme.

    The event also featured exhibitions by various organisation, nutrition and health talks, and awards for some members.

    The exercise, which lasted for about two hours, enabled participants to know the kind of exercise to do to keep fit, to lose weight and for pregnant women, among others.

    According to TAWN convener, Mrs Gift Martins, exercise enables people to keep fit. “When a woman is fit, her family will be fit, and when the family is fit, the nation will be fit and it would yield national development because there is nothing a fit nation cannot do. Without fitness we cannot achieve success as a nation because health is wealth.”

    She urged women to make sacrifices to live healthy to contribute meaningfully to the larger society as they press for progress. She added that women should take their health seriously and keep their dreams alive.

    “The aim of this program is to bring to our attention the urgent need for women to take their health matters seriously. With the rising rate of maternal mortality, weight problems, infertility and pregnancy complications among others, women have no choice than to find creative and innovative ways to tackle these challenges. Our goal is to strengthen our capacities and provide sustainable methods of health management. As mothers and wives, maintaining an optimal health is a priority because our family’s well-being depends on us.

    She said TAWN is an empowerment platform for women, where they educate, network and interact with one another.

    “TAWN is an empowerment platform for the African women and empowerment cannot be total without physical fitness, which involves physical, mental and social well-being of a person.  Fitness requires discipline and dedication, it is not an option, and it is a priority. ”

    Pat’s Amazing Blends Chief Executive Officer, Pat Biney, said the programme was aimed encouraging African women and make them more aware about their health and fitness.

    According to her, health issues including high blood pressure and diabetes can be prevented if women are fit and eat healthy.

    “Women have to exercise regularly, using the different types of exercise as they have been shown today; they also have to change their diet if they want to live long, she said.

    She urged women to feed more on fruits, vegetables and avoid red meat.

    “Our belief is that with exercise, a woman will be strong and she will be able to encourage the family to do the same and we will have a healthy society, while also saving money that would have been spent on health issues.”

    Another highlight for the day was an award ceremony by WhatsApp group of TAWN, tagged: TAWN Saturday in Style. The Fashion Designer, who host of the group, Ewoma Efijemue, said those awarded were rewarded based on their contributions over time to TAWN Saturday in Style, while urging women to be bold, strong, confident face their fears, don’t be scared and be ready for anything.

    “The award is to show that every contribution of members matter a lot. As a fitness group we believe that every woman should be fit mentally, socially, physically, academically and in all areas. We women are okay where we are; what we want is to be loved, given attention and be able to attend position that men attain based on merit and capabilities.

    Women don’t get such positions as much as they should because we are looked upon as women; we are trying to change this, break stereotypes and create a platform where women can be empowered,” she said.

     

     

  • Good governance and national development

    After close to six decades of political independence from Britain, Nigeria is still crawling like a baby. It has a stunted growth despite its enormous mental and material resources. Are the ancestors angry? The good news however, is that this ugliness is reversible in the face of unalloyed patriotism and critical self-analysis. It is unfair to claim that Nigerians are ungovernable and pathologically lawless. The Murtala Mohammed/ Olusegun Obasanjo military administration between 1975 and 1976 was a good testament to the governability and civility of Nigerians. During this period, gross indiscipline was reduced to the barest minimum. Those in charge were a shining example of honesty and commitment to the common good. They were on a mission to make Nigeria a force to reckon with in Africa and the rest of the global village. But along the line, Nigeria lost the golden opportunity to become a world power. That missing link is called good governance. This lost glory is re-claimable via the lens of pragmatism at its peak.  Good governance is attainable within the frameworks of such traits as rule of law, inclusiveness, participatory orientation, fair-play/equity, transparency, accountability, responsiveness to national and/or international affairs, efficiency/effectiveness and uncommon integrity.

    The creation of impartial regulatory legal bodies for ensuring full protection of all citizens of Nigeria in terms of human rights and civil liberties cannot be wished away in the scheme of things. Injustice is an encumbrance to peace and without peace, socio-economic and political progress becomes a wild goose chase. The Nigerian political class has to embrace the principles of inclusiveness as opposed to primordial ethnic, sub-ethnic sentiments and unbridled cronyism. It is too easily forgotten by the Nigerian political class that power belongs to the people and that governance is a social contract. The masses would necessarily withdraw their affection for their leaders if religious bigotry and primitive ethnic solidarity or sentiments dwarf their (political leaders) sense of judgement. African leaders generally have a lot to learn from the Mandelas, Obamas and Churchills of this world.

    Lack of information about government’s activities leads to mutual suspicions and distrusts as well as mistrusts. Keeping many things under wraps is at variance with good governance. In addition, responsive and enthusiastic leadership is a blessing for any nation, especially when it involves the issue of security and safety of lives and property. Members of the political class are supposed to be the servants of the people and this underscores the reason why they enjoy a huge amount of benefits and privileges. In this connection, transparent leadership is a necessity rather than an option. Accountability is also important. Political leadership is not just to win an election and thereafter occupy the Aso Rock Villa with some cronies as if that is an end in itself. The leaders are answerable to us. Thus, for example, we would like to know what President Buhari would do to those military officers if they were found guilty of serious dereliction of duty, with respect to the Dapchi girls’ abduction some weeks ago.  What of the Inspector General of Police who allegedly flouted presidential order about his relocation to Benue State to stop the Fulani herdsmen/farmers clashes recently? What of the killer-Fulani herdsmen who are of course, giving our president an ugly name within and without Nigeria?

    Nigeria is in dire need of an ethical rebirth as the falcons can no longer hear the falconer. Things are falling apart with alarming, astonishing rapidity. Nigerians in frustration, are waiting in an agony of suspense concerning several cases of impunity and/or corruption involving certain government officials. All these challenges can erode the dignity of our leaders and pave the way for tough speeches often inaccurately labelled hate speeches out of reactionary tendencies. Even the meekest Nigerian will soon start talking tough in the face of hopelessness.  There is need to repeal  all the obnoxious, reactionary laws and/or bye-laws that make it possible for governors after leaving office, to be earning unspeakably  huge  pensions at the expense of the ordinary people of  Nigeria. Politics is unacceptably the most lucrative business in Nigeria. How can there be jobs for our youths in this kind of milieu?  Dear President, Nigerians loved you so much before now. But currently, tears of unprecedented anguish have filled their eyes and you need to quickly address the situation. Please, listen less to most of your advisers who appear to hate words of wisdom for obvious reasons. Nigeria and Nigerians are too complex to be caged up by near- complete, glorified despotism. Leaders should not ignore the lessons of history otherwise they would be doomed to repeat its failures. There is need for the government to return to the ontology of culture and development crafted from change and temporality. This is a fact of life and living.  Permit me to illustrate this point for the sake of clarity. In the past, polygamy was a sign of wealth and prestige in Nigeria. The more wives and children, the bigger the farm(s) of a man. Almost everybody was a farmer. Can any serious man embrace that facet of our age-old culture today? Everybody wants to send his children to school. This is expensive and strenuous. Therefore, nobody needs to appeal to any man to hang his ‘pair of gloves’ after two or three children. The era of having children like rabbits is gone for ever. No culture is a fixity!

    Given this scenario, it is most disturbing when some government officials talk about cattle routes in the 21st century. Are we the only people doing animal husbandry in Africa? If care is not taken, very soon some leaders will be talking about pigs routes/roads and chickens routes or even cattle airports. What a hell! Government may have to send some experts in animal husbandry to South Africa and Botswana in order to stop this peculiar mess in the country. Limpopo in South Africa is located in the semi-arid zone and yet cattle, sheep and goats are ranched. They are not roaming freely on the land. In fact, these ranches are tourist attractions. Therefore, the shrinking Lake Chad should not be an excuse for open grazing of cattle in 21st century Nigeria. Fayum and Olduvai lakes in Ethiopia and Tanzania respectively became extinct in prehistory. That is to say that, today these lakes do not exist, and yet the countries are flourishing.  Nigeria needs a philosopher-king capable of proving to the globe that we are not a bunch of savages and cannibals with an archaic mentality. Large-scale integrity embedded in advanced social engineering and profound intellectual tastes/preferences, is of the essence. This also entails an ethical revolution across the board. In other words, there is need for an informed and concerned reflection on Nigeria’s current monumental disappointments with the government. However, we must learn to tolerate sometimes inevitable, acutely-productive disagreements that may ensue in the process of reconstructing and enlarging the conceptual/definitional box that houses our politics. This is my Easter message to the Buhari-led administration that is in a coma.

     

    • Professor Ogundele writes from University of Ibadan.

  • ‘Non-interest finance will boost national development’

    Finance and economic experts have advocated for the integration of non-interest finance into Nigerian national financial system. They say the expanded financial system will serve as catalyst for national economic development.

    Experts agreed that non-interest finance, otherwise known as alternative finance or Islamic finance has the potential to drive financial inclusion and help Nigeria to achieve even and well spread growth by unearthing the wealth of all segments of the nation.

    Member, Financial Regulation Advisory Council of Experts, Central Bank of Nigeria (CBN), Dr. Bashir Umar; Group Head, Non Interest Banking, Sterling Bank Plc, Dr. Basheer Oshodi; Managing Director, Jaiz Takaful Insurance Plc, Mr Momodou Musa Joof; Hadjia Azeezah Muse-Sadiq of Banwo & Ighodalo Associates and Abdul Malik Mahdi of Brains & Hammers Plc who spoke at a business luncheon in Lagos emphasised the need to provide better enabling environment for the growth of non-interest finance. The luncheon on “Islamic Financial System: A Panacea for National Economic Development” was organised by the Forum for Islamic Education and Welfare.

    Umar, who is also a member of the Takaful Advisory Council of the National Insurance Commission (NAICOM), said the development of the non-interest segment of the Nigerian capital market will further deepen the capital market as such alternative instruments will fill the funding gap and provide much-need capital for governments and corporates.

    According to him, excess liquidity with Islamic banks, funds mobilised by Takaful entities, pension funds, foreign direct investments and other funds from the non-interest segment will improve the depth of the Nigerian capital market.

    “Governments-Federal, State and Local, all stand to benefit a lot from a vibrant and deep capital market, where the cost of fund is cheaper than bank borrowing. Such funds when used for infrastructural development will lead to the betterment of the common man and the society as a whole,” Umar said.

    He pointed out that Takaful could also help to promote financial inclusion and financial stability by providing finance to the lower segment of the population and connecting finance with the real economy.

    Oshodi noted that Africa’s infrastructural gap is both a challenge and an opportunity urging governments and the private sector to collaborate in developing creative financial products for infrastructural financing.

    He added that Islamic finance provides many financial products that could be used to implement radical poverty eradication programmes.

    Mahdi, a real estate developer that specialises in using non-interest finance for affordable houses, pointed out that the collaboration between his firm and Sterling Bank had provided him with opportunity to explore creative financing for the realisation of his affordable housing scheme.

    Muse-Sadiq said the adoption of non-interest finance-which focuses on real assets, will ensure accountability and transparency in project management and help Nigeria to curtail its high incidence of uncompleted and abandoned projects.

    She noted that Islamic finance holds a lot of benefits for individuals and businesses, irrespective of religious affiliations, pointing out the enormous growths of Islamic finance in the advanced economies of Europe and America.

    “We shouldn’t forget that it is interest-free and it has a lot of benefits. It ensures transparency, accountability and it is fair and ethical. Like the insurance that they talk about, you don’t just pay the premium. It is an investment and you get a return for it at the end of the year. So it is not just interest-free and it is not meant for Muslims. So the communication in explaining what Islamic finance stands for should go beyond Islam; should go beyond interest-free and all the principles associated with it should also be made known to all,” Muse-Sadiq said.

    She explained that the mode and structure of Islamic finance encourage stakeholders’ commitment to the realisation of the project at hand.

    “Like the example of roads I gave, that the Federal Government is working on, in the contractors’ bond, there is a project management consultant to ensure that the roads have been built to specification, and once the consultant is satisfied that the roads have been built to specification, then you are paid. So you don’t get payment as if it is a service you are providing, you have to deliver the property, which is a constructed road, and then you get paid,” Muse-Sadiq said.

    Joof said the Takaful insurance not only provides cover to the insured but also shares profit with the policyholders by the end of the year.

  • ‘Executive Order-5, major driver in national development’

    The Nigerian Society of Engineers (NSE) President, Mr. Adekunle Mokuolu, has described the Executive Order-5 just signed into law by President Muhammadu Buhari as a major driver in national development and technological advancement that the country has been yearning for.

    Mokuolu, an engineer, who spoke at the weekend during the 60th anniversary of NSE and the  installation of Mrs. Rose Madaki as the sixth chairman of Victoria Island Branch, noted that the Order would help accelerate development through the use of indigenous engineers.

    The Oder-5 ensures that the country is able to save cost in the delivery of her projects. It also ensures the delivery of intellectual knowledge, including accelerating technology and development through local content participation.

    Mokuolu emphasised that the Executive Orde-5 addressed the issue of engaging expatriates in public and private organisations to execute engineering and technology jobs to the detriment of qualified Nigerians because it deals majorly with local content.

    “This is the first time that the Presidential Order is giving priority to Nigerian engineers, and whatever that has to be achieved would be beneficial to the country. The maintenance culture that we have been talking about would be addressed with this Order-5. This is because as people get involved in the project, they will acquire maintenance skills. Before this Order, expatriates are fond of not putting Nigerians through projects they execute, thereby making it difficult for us to maintain such projects once completed; this also makes the country dependent on these foreign engineers, at huge cost to the country,” Mokuolu explained.

    He added that this recent development would help reduce the increasing level of unemployment in the country.

    Madaki, shortly after her decoration as the sixth chairman, noted that her mission is to introduce engineering and technological innovations into schools, beginning from the rural areas. She pointed out that she would want the engineering impact to be felt in the rural areas, adding that she was collaborating with some organisations to drive the vision.

    Defence Industries Corporation of Nigeria (DICON)Director-General, Gen. Bamidele Ogunkale, who was the guest of honour at the event, said innovative research and development (R&D) is a vital to national development.

    He called for a Public-Private Partnership (PPP) in innovative R&D, stressing that the government cannot do it alone as it is very expensive to sponsor researchers and research innovative-based institutions.

    Gen. Ogunkale said DICON, in collaboration with a Chinese firm, has started manufacturing ammunition for the Armed Forces, adding that this would not only reduce the country’s import bill on ammunition, but would also save the nation problems of delay in responding or curbing crimes that needed urgent and swift attention.

  • ‘Executive Order-5, major driver in national development’

    The Nigerian Society of Engineers (NSE) President, Mr. Adekunle Mokuolu, has described the Executive Order-5 just signed into law by President Muhammadu Buhari as a major driver in national development and technological advancement that the country has been yearning for.

    Mokuolu, an engineer, who spoke at the weekend during the 60th anniversary of NSE and the  installation of Mrs. Rose Madaki as the sixth chairman of Victoria Island Branch, noted that the Order would help accelerate development through the use of indigenous engineers.

    The Oder-5 ensures that the country is able to save cost in the delivery of her projects. It also ensures the delivery of intellectual knowledge, including accelerating technology and development through local content participation.

    Mokuolu emphasised that the Executive Orde-5 addressed the issue of engaging expatriates in public and private organisations to execute engineering and technology jobs to the detriment of qualified Nigerians because it deals majorly with local content.

    “This is the first time that the Presidential Order is giving priority to Nigerian engineers, and whatever that has to be achieved would be beneficial to the country. The maintenance culture that we have been talking about would be addressed with this Order-5. This is because as people get involved in the project, they will acquire maintenance skills. Before this Order, expatriates are fond of not putting Nigerians through projects they execute, thereby making it difficult for us to maintain such projects once completed; this also makes the country dependent on these foreign engineers, at huge cost to the country,” Mokuolu explained.

    He added that this recent development would help reduce the increasing level of unemployment in the country.

    Madaki, shortly after her decoration as the sixth chairman, noted that her mission is to introduce engineering and technological innovations into schools, beginning from the rural areas. She pointed out that she would want the engineering impact to be felt in the rural areas, adding that she was collaborating with some organisations to drive the vision.

    Defence Industries Corporation of Nigeria (DICON)Director-General, Gen. Bamidele Ogunkale, who was the guest of honour at the event, said innovative research and development (R&D) is a vital to national development.

    He called for a Public-Private Partnership (PPP) in innovative R&D, stressing that the government cannot do it alone as it is very expensive to sponsor researchers and research innovative-based institutions.

    Gen. Ogunkale said DICON, in collaboration with a Chinese firm, has started manufacturing ammunition for the Armed Forces, adding that this would not only reduce the country’s import bill on ammunition, but would also save the nation problems of delay in responding or curbing crimes that needed urgent and swift attention.

  • Youth and national development

    Without a doubt, youth are the foundation of positive and negative picture of any society. Their energies, inventiveness, character and orientation define the pace of development and security of a nation. Through their creative talents and labour power, a nation makes giant strides in economic development and socio-political attainments.

    In all societies of the world, virile youth is the bedrock on which national integration and development is predicated. The youth are the backbone and the building blocks of any nation. It is a fact that the stronger the youth, the more developed a nation is. The role of the youth in the nation-building process cannot be overemphasized as countries that develop and utilize their youth in the right directions seem to be more developed. The energy and brightness of the minds of youth act as torch-bearer for a nation. There is a confirmed connection between the prosperity of a nation and its youth development system.

    The late British politician and writer, Benjamin Disraeli, rightly described the youth of a nation as the ‘trustees of posterity’. It is in the reality of this that many nations have made concerted efforts in galvanizing integrated approach in putting in place youth development structures that have a very high propensity to be a catalyst for their national growth. On the contrary, the countries which fail to realize the importance of the youth lag behind in every aspects of life.

    The 2017 edition of International Youth Day, themed: “Youth Building Peace”, was aimed at stressing the principal role anticipated of the youth in global peaceful coexistence among the people and the drive for positive change for development through the transformative and resourceful force of the youths which has been identified by national leaders globally including Nigeria’s President Muhammadu Buhari.

    Any nation that denies its youth the necessary enabling environment to enthusiastically participate in nation- building merely does so at its own perils. Nation-building is a dynamic process that calls for the participation of all segments of the society, including the often-overlooked and undermined youth population and youth resourcefulness that will provide an invaluable speed for the progress of any society as well as its development.

    As youth are brought into and connected with national issues and programmes, they can participate actively and contribute to decision making at multiple levels. As youths are engaged in more sustained positive relationships with adults, other youths, and national development programmes, apart from realising that they are valued citizens of their nations, such collaborations and participation may lead to skill enhancement, empowerments and confidence-building traits, which will help prepare them for active interest and involvement in nation-building.

    It is important to note that young people play a crucial role in the prospect for development and should therefore be included in all national development plans and programmes, but reality shows that attention to youth has not been sufficient and more needs to be done considering the practical implications of shifting perceptions of youth and the role they can play in the society.

    In Nigeria, the greatest challenge confronting the youth today is unemployment which has become a great challenge to national security. Despite alleged success of various youth   empowerment programmes across the country, over 54 % of Nigeria youth remain unemployed. The unemployment record in the country clearly portrays an increase in idle hands across the length and breadth of Nigeria. It is often said that an idle mind is the devil’s workshop, so an unemployed youth is a disaster going somewhere to happen. Activities of groups such as Boko-Haram, Niger Delta militants, Biafra agitators and recently, the Baddo group have serious implications for national security in the country. Sadly, some of these rebellious groups have youths at the forefront of their nefarious activities.

    It is a known fact that youths possess a transformative force. They are creative, resourceful and enthusiast agents of change. Therefore, the need for youth to be listened to and productively engaged cannot be over-emphasized in every context. Youths can determine whether this era moves towards a great peril and more positive change. Let us support the young people of our world so they can grow into adults and a true platform for more powerful leaders of coming generations.

    Unfortunately, in our clime, youth are not being given the needed platform to freely express themselves. Though they have always been touted as ‘future leaders’ since God knows when, our nation clearly needs a spiritual or physical veil remover for us to act the saying ‘the future is now’ for us to stop saying the potential leaders of tomorrow are too young to lead alongside other flimsy excuses.

    Around the world, there is a growing recognition of the need to strengthen policies and investments involving young people. We need a properly marshalled policy aimed at harnessing the innate and budding potential of the youth. In Nigeria, the youth almost do not have a voice in the scheme of things. Unemployment, lack of opportunities, faulty educational system, repressive political system, dwindling economic fortunes, among others, are mostly responsible for the suppression of the voice of the youth in our dear nation.

    However, it needs to be stressed that the Nigerian youth need to be more focused, creative and disciplined if they are to actually become real agents of change in the country. The agriculture and Information Communications Technology (ICT) sectors, especially, represent areas where the youth could truly make enormous impact in the country, if only they could become more forward-looking.

    The trend of rural/urban migration by Nigerian youth has drastically reduced the capacity of agriculture sector to sustain the economy which has capacity to provide job for over 70% of the youth. Sadly, lots of youth idle away in cities rather than getting engaged in agriculture at the country-side. Similarly, advancement in ICT presents numerous prospects for the youth to become creative, productive and prosperous.  Unfortunately, rather than exploit the positive and resourceful sides of ICT, some youths have turned it into a tool of defrauding and tricking unassuming individuals through the infamous “yahoo, yahoo “  syndrome.

    On a final note, governments, NGOs, youths based organizations and other relevant stakeholders need to regularly enlighten and properly guide the country’s youth to take imbibe the positive sides of life. Also, our education curriculum should be reviewed to reflect contemporary realities that would assist the youth to contribute meaningful to national development.

     

    • Erezi, is with the Ministry of Information and Strategy, Alausa, Lagos.
  • National Development: The mind renewal approach

    National Development: The mind renewal approach

    The world will not be destroyed by those who do evil, but by those who watch them without doing anything – Albert Einstein

     

    Thomas Paine once wrote: these are times that try men’s soul.

    What would he have said if he were here to witness the social delinquency of our time, resulting into crime and violence, empowered by corruption at all levels? The foregoing drives a nail of remorse into mind, morality and mind-renewal beckons, greed clings, lives clock chime; but to what do we yield?

    Scholars and social commentators over time have analyzed the current socio-political malady in our polity; many have blamed it on corruption, weak/limited rule of law, poor parental upbringing, greed, system of governance, and more recently: the limited participation of youths in political process powered by the #NotTooYoungToRun campaign.

    Nevertheless, it is pertinent to understand that the aforementioned contending issues in our polity are not age related. Thus, it is a fact that: age has nothing to do with corruption, greed, and other contending issues.

    However, the importance of youthful vigour, intelligence, exposure, and innovations, cannot be overemphasized because the youths are the future, and they ought to take part in shaping that future. The purpose of this thesis is to approach the socio-political quandary we have found ourselves holistically, irrespective of age, tribe, religion, and ethnic background, our challenges such as: poverty, insecurity, corruption etc. are homogenous; consequently they are present in every Nigerian state, religion, tribe, and ethnic group.

    It is rather saddening that, in spite of numerous moral educations, religious educations, workshops, seminars, school programs, boot camps, campaigns; the society has shown no sense of improvement. Could it be that people have not been listening? Or they have not been proactive? Time and again, those who profess to be good seem to clearly outnumber those who are evil, yet those who are evil seem to prevail far too often. The problems we face are as a result of the dominant negative lessons we have learnt from the society, and it has affected our general mindsets.

    National development, rule of law, good governance, morality, tolerance, security, and equity, would be achieved when we choose to first renew our minds, then we can begin to engage the counteractive measures that have once failed due to poor mindset. In respect of the foregoing, it is important for every Nigerian to employ morality in our disposition, begin to work for the good of all, eliminate greed, with a renewed mind. Accordingly, if renewal of mind is the solution we seek, then, how do we renew our minds?

    The process of mind renewal has its base in socialization. In order to fully renew our minds, we must restructure our societal curriculum by resetting our priorities. We have long lost our priorities by worshiping riches, and encouraging people to amass wealth by any means available; legal or illegal. The importance of money cannot be overemphasized, however, should it be amassed at the expense of others; by putting their lives, comfort, and future in jeopardy? In the pursuit of power, authority, fame, and respect, people have committed themselves to ugly atrocities such as: diversion of public funds, armed robbery, kidnapping, drug trafficking, ritual killings, thuggery, etc.

    However, the ruling class (government) despite being products of the society, because of their refusal to change the corrupt status quo, must take the first step by creating an enabling environment for the renewal of minds.

    It is difficult to renew the minds of people in a society where: criminals are celebrated, morality is being perceived as foolishness, unemployment rate is alarming, there is poor parental upbringing, food insecurity, low income, and widespread of poverty. Therefore, if every Nigerian child irrespective of gender and financial status have access to universal basic education; every Nigerian graduate have access to employment; every Nigerian family have shelter, food, clean water, uninterrupted power supply, and fulfill every section on Maslow’s hierarchy of needs, only then can our minds be renewed, and we will then put to work the lessons of the numerous moral educations, religious educations, workshops, seminars, school programs, boot camps, campaigns, we have learnt. Mind renewal cannot be attained in a rotten polity, the change and improvements we seek can only happen when the polity becomes conducive for mind renewal.

     

    Benjamin can be reached via: dadabenjaminopeyemi@gmail.com