State of the economy: Worth reconciliation
THE parable of the lost coin in the holy book comes to mind when the issues of Nigeria’s poor state are to be discussed. The country is not a failed system as many claim it is. It is a mismanaged entity taken through scarcity acclaimed to be povertyridden.
The perception is said to be wrong with a nation regarded to be the “giant of Africa”. Not a sleeping giant but a strong nation with almost impotent ministries subjected to apathy by selfishness and indiscriminate distribution of roles to office holders. The economy would thrive with intentions geared towards objectivity and developments.
The affairs of this nation will be better when the focus is shifted away from what we already have, to those values and mechanisms that have been malfunctioning due to moribund or underutility.
The lost coin of this nation will seriously need us to torch light the dark parts of the economy for areas of delinquencies that can be recovered from total debilitating functionalities. The appropriate measures can be employed to deter saboteurs of selfish dispositions that may run the country bankrupt. The level of impunity in embezzling the nation of her hard-earned resources is very worrisome. Just a few members of the community stand in for many others to deprive the entire neighbourhood.
The failing sectors are not found among optimised system reactors just because the differentiation is so much pronounced. Some selected ministries of government have been overwhelmed by politics of disintegration among other disqualifications. The ember of indignation is fortified by immunity in all departments that have been disempowered with unsupportive activities. Roles of performance are not evenly distributed to show competencies, so unprofessional decisions might be inevitable. If the appointees are unprepared by proxy to chance and luck, the outcome will be quackery.
Sorting national problems at state levels would proffer clearer solutions to elementary economics as it were in the regional architecture of this country. When regions were more republic in fiscal and infrastructural competencies. There are several divides to this postcolonial governance; however, development was competitive. The needs for national remittances and allocations would put so much pressure on the federal executives and reduce performance at the states. Some selected regions with highly-sorted-after minerals may choose to generate revenues that may bring development.
Sovereign wealths of this nation is subject to the constitution of the country with cracks on the wall due to inefficiency of the enforcement. Cost of running governance is claimed to be more expensive than the Internally Generated Revenues (IGRS). If the expenditure is at par with revenue, sufficiency may be at its minimum, but with higher revenues as compared to the expenditure, the relative wealth coefficient will be positive. Laws to prevent embezzlement and promote prudence should take the front burner of discussions at various arms of the legislature. The high rates of unpunished cases have eroded the integrity system of funds and management in our country. If these take serious consideration, so many shortcomings will arrive.
Luxury comes with affordability: promoting frugality with little resources elongates the lifespan of the treasury. Our local and international investments are factors worth consideration to improve the state of our economy. This may not go down well with the present breeds of leadership but it is the way to go; reduction of convoys and emissaries while attending a function, cutting down costs on maintenance of existing infrastructures when they are still functional and other statutory requirements. Sustainability of existing sources of income will not in small measure create opportunities for more investors.
There are sectors worth empowering for broad sensitisation of the populace on growth and developments. The knowledge of the citizens are worth investing in: taking the role of wide coverage of intensive training on well being and public administration. The fair side of the acquisition should tilt partly more to the sustainability of existing principles and the other to creating avenues for nascent opportunities that can mature into great possibilities that can be harnessed by everyone without prior knowledge of the rudiments. Great ideas are within the circle of our teeming youths with visions; practically to awaken the enthusiasm will never be a bad idea.
To regain freedom from the norm that is far from civility, the narratives would have to attract self-actualisation and discoveries of a better horizon. The gap between the previous generations and the “Gen Z ‘’ is wide enough to create imbalance in the economy. The perceptions are just antagonising one another with unfair comments to discredit either group of persons. Both generations are of high value to the well being of the people; just that the representation is no longer the way it used to be: you have the minority deciding for the majority. A very broad scope that will lead us nowhere.
It is noteworthy that the left over of our fallen pack of cards in this economy can trigger the dead stump. Just a little water for resuscitating the fallen branches of the economic tree, then a living state of the nation from recovery will emerge. A thorough assessment of the capacity building index of officers handling the wealth of the nation will drive out encumbrances. Stakes of the individuals to nation building should be put to test prior service engagements. Some are driven by personal achievements rather than putting up the love of the nation first; this attitude to service will impede the development of the commonwealth.