LOOT THAT DRIVES ECONOMY

It is often in the national interest for people of reason to challenge erroneous, widespread, and misleading opinions even if these are held by a large percentage of the population and, especially, if a core influence group continues to mislead the masses. Right now, in Nigeria, I think we have had just about enough of the gist of the so-called “treasury looters” and “the theories of looting according to the EFCC.” Whilst it look fabulous on paper to recover “loot” and inject these funds into infrastructural development that benefits the country on a long term, the way that this Muhammadu Buhari-led APC government carries on about this matter thoroughly confounds everybody.

The predecessor Goodluck Jonathan government that has been labelled “corrupt” was one that was steadily growing the economy and creating jobs as a consequence of this growth. Money saved from regular employment and shrewd investments by entrepreneurs ensured that the middle class experienced steady growth. Basic economics tell us that economic growth and “treasury looting” cannot co-habit, and thus we are now compelled to make the deduction that nothing untoward was actually going on under Jonathan’s watch, at least not the “corruption” that has been splashed on the pages of newspapers by this All Progressives Congress’ government.

Now, too, we have a basis for comparison: if this Buhari government is so “clean” as to be the antimatter of the Goodluck government in the area of financial probity, why has the economy evidently slowed and investors’ confidence at the lowest ebb ever? Something is wrong with what this government is dishing out. Really, if “looted funds” ensured positive economic growth and job creation, then let us return to those days of “looting.” People are getting poorer in Nigeria each passing day since Buhari was sworn in as president. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State