Thursday, 21 May 2015

BUHARI-OSINBAJO GOVERNMENT DECLARES NIGERIA's ECONOMY WORST AT THIS MOMENT. ESTIMATES POVERTY LEVEL TO 100 MILLION NIGERIANS

I was just watching the news this evening on TVC and there was the Vice President Elect, Prof Osinbajo and all APC members discussing about the state of the Nigeria economy. Well i was so interested on what they were saying especially for my interest in nation building. There was the UK minister representing Prime minister Tony Blair. The UK minister made reference to so many issues until when he gave an advice to the incoming administration. He said that the incoming administration should tackle corruption firstly in the oil sector. It was a welcome idea but we need good hands to deliver this policies. About one week to the inauguration of the new administration, they have also complained about the huge public debt the nation is owing. Well all my thoughts when they were saying all these was 'when you people were asking us to vote for you, didnt you know that you are going to be facing an herculean task'. But to be candid they have enormous work to do which they have started doing since when they won the election. Well the most important part of this post is the enlightment i would like to share with readers. A journalist in person of Otitoju or so, i cannot really remember his name now, was asked to comment on those issue raised by the Vice President elect, what he said was that, the incoming administration have a great task ahead and they should stop complaining to Nigerians about this issue. He said that, afterall, nigerians knew about this issue before hand and that was why they voted for APC. Then he threw a point that hit me and this is interesting believe me. Nigeria crumbling economy needs enough resources to build it up. When i mean resources i mean needs huge finance to help in restoring and enhancing the economy. Currently, the federal government since november 2014 have borrowed about 416 billion naira to pay salaries of civil servant. If we are still borrowing, then where is the finance to build the economy. Also, recurrent expenditure of Nigeria covers 64% of the budget. Then where are we going if situations have turned out to be like this. The veteran journalist said the APC government should follow the footsteps of the malaysia's economy when they compelled all past leaders of the nation to give back all the money they have stolen or they would be forced to go to jail. He said his government should start way back from Babangida's regime and then to Abdulsalam's government, Obasanjo's regime till GEJ's administration. He also made it clearer that Abdusalam's administration stole a lot of money and he only spent 10 months in office. Well that was his opinion but believe me, imagine all past leaders of this nation are probed and if found guilty of embezzlement, they should be asked to pay back the money or go to jail. That would be great oo and when i mean past leaders, we are not talking only about the President oo, i mean all the cabinets of the Federal, State and Local government. Mr otitoju said that he cannot quantify how much will roll in if that was done. Infact that will provide enough and even excess money for the incoming government to spend on the structural development of the economy. Well i dont know if that kind of policy will work in Nigeria, but believe me if that happens, the government will be able to pay all its debt without even knowing they spent any money. Ha, but many people have stolen huge amounts from public funds, only God will save us.
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