By Emejuiwe Victor
The question as to if, the change promised by the leading All Progressive Congress is taking effect or not is very debatable. While some may argue that nothing has changed since the last seven months the APC took over power, others would readily agree that the change is visibly taking effect. However the parameters to use in judging the APC should be based on what they promised in their campaign manifesto. There are promises like the diversification of the economy through agriculture and mining, provision of adequate health infrastructure and education, power, provision of housing and social benefits for the indigents which involve payment of N5000 monthly stipends to the unemployed.
They also promised to provide one meal per day for school children in primary schools. Top of the APC priority list, is to fight corruption and insecurity in Nigeria. No doubt, corruption and insecurity was at the point of tearing the nation apart. They were twin monsters that robbed Nigeria of its focus on development and integrity amongst the committee of nations. If the APC government is to be applauded for any cause, it should be the giant steps it has taken to address these two monsters. It is of my own view, that the ability to lay corruption and insecurity to rest will go a long way to determine if the other promises made by the party would be actualized. On assumption of office, the APC government set the ball rolling with steps that can be abbreviated as ICE.
This simply means they focused on tackling; Insecurity, Corruption and now facing the Economy. The last priority given to the economy is yet to record any success and this has been generating tension across the length and breadth of the country. The Nigerian economy seems to be headed towards an irrevocable collision, with the threat of the Naira crashing uncontrollable and also the crash in the Nigerian Stock Exchange. Recently, by mid January 2016, Nigeria recorded N1.2trn loss in a stock exchange market which is worth over N8trn. This is enough to generate aggressive shockwaves amongst stakeholders irrespective of their party affiliation. Worse still is the fact that, the newly appointed Minister of Finance, the CBN, Minister of Budget and National Planning have not released any convincing statement from their various offices on what the government is doing to curtail this shock. Nigerians indeed appreciate the focus of the PMB government in actualizing its vision for Nigeria, but this would be more appreciated if the government takes brazen steps to protect the investment of its citizens while also attracting more foreign investment into the country.
It is time the president takes steps to fix our economy. PMB should demonstrate his undoubted political will towards the economy by taking the right step. This would at least prove some of the critics of Mr. President wrong on his ability to turn around the Nigerian economy.
The responsibility to fix this economy lies on the visionary ideas of Mr. President’s Ministers, under the strict supervision of Mr. President. It is no longer lucrative for ministers to work independently of each other. It is expected that the weekly federal executive council meeting should be a brain storming session where emerging issues surrounding the progress of the nation is reviewed and consistently evaluated to determine where progress has been made and where there is need to take adequate measures in addressing shortcomings. This entails that ministers must work hand in hand to realize the vision of Mr. President.
Fixing this economy also entails the full implementation of the 2016 capital budget. The 2016 capital budget presents itself as an array of hope for Nigerians. It is the belief of Nigerians that some of the sufferings currently experienced by businesses would be curtailed once the 2016 budget is passed and implemented. The effective implementation of the capital component of the budget will definitely have its trickling effect on the economy. The trajectory of the past, where moneys were released and not cash backed only to be returned back to the treasury at the end of the year must be avoided. Implementation of the capital component of the budget demands efficiency in the part of the supervising ministers and the permanent secretaries in government MDAs. There should be proper oversight and monitoring of the MDAs by the National Assembly, the Civil Society and the anti-corruption agencies. These institutions should have copies of the budget and endeavor to monitor the MDAs on how effectively they are being implemented.
Finally, the Economic and Financial Crimes Commission (EFCC) must be commended for current onslaught against looters of the economy. The Commission should sustain this effort and be as independent as possible. While the Commission exposes and brings past leaders to book, they should also beam their searchlight on current serving politicians irrespective of their party affiliations. We hope the judiciary would learn to deliver sound judgment when proven cases of corruption are brought before the courts. With full implementation of the budget, continuous consultations with stakeholders and effective fight against corruption, Nigerian economy would surely bounce back.
•Victor writes from Abuja