Economy: Yari’s Worries and Ugwuanyi’s Belief in Innovations
Recently, it was reported in the media that the Chairman of the Nigerian Governors Forum and Governor of Zamfara State, His Excellency, Abdulaziz Yari, spoke with some journalists in Abuja and presented a gloomy picture of the nation’s economy. The governor said, “Both the Federal and State Governments had been borrowing to pay salaries in the past two years”. This by implication makes it a difficult task for both tiers of governments to embark on capital projects.
His assertion was based on the negative impact of the current cash crunch in the nation due to drastic decline in the prices of crude oil in the international market.
Consequently, the Governors Forum Chairman insisted that diversification of the economy remains the only survival strategy for the country to overcome the current cash crunch. He expressed regret that the situation in states was more complex because “they lack the luxury of long-term borrowing like the federal government”.
From all indications, it is worrisome to note that the debacle in the life of the present democratic experience has put the nation in a state of economic quagmire that requires not only the application of the best economic practices based on logics and sound reasoning, but also the intervention of the Almighty God, whose miracle does the magic.
As it has been the popular view of the public, most especially stakeholders in the economy, Gov. Yari’s stance that “the only thing that can save us is to diversify the economy”, is no doubt a fact. But, it will not be out of place to pronounce that we still need prayers and faith in God for us to overcome the short and long-term negative effects of the present challenges.
This is in view of the fact that the process of diversification is not a one-day affair neither is it an exercise that will yield the needed result in a twinkle of an eye. It will require enough time to actualise. It will also require time and space for its natural cause to take place especially in the areas of agriculture and mining which Gov. Yari identified.
Diversification will equally require the rigorous process of human engagements and the enthronement of our core values and norms that will guarantee its success. The trepidation, therefore, is that the nation has to survive on temporal and innovative measures, while it glues itself to the intricacies and fertility of diversification; hence the need to apply wisdom, vision, innovation, strategy and place our faith in God becomes imperative.
The questions now begging for answers are these: how prepared is the nation to drive the process of diversification? What do we have on ground to support the process in terms of facilities, peaceful atmosphere, security and core values that would promote fiscal discipline, transparency and accountability which are pivotal to the success of the proposed diversification?
While I am of the view that diversification of the nation’s economy still remains the sine-qua-non of our survival strategy, the truth is that as we look inwards to harness those potentials which we abandoned for free oil money, we still need to rely on God to succeed.
I wish therefore, to urge Governor Yari of Zamfara State to be encouraged by the words of his Enugu counterpart, Governor Ifeanyi Ugwuanyi who in his inaugural speech proclaimed that “since it is knowledge-driven economies and not oil-driven economies that rule the world, I believe that this is another great opportunity for Enugu State, and indeed Nigeria to look inwards and harness those potentials which free oil money has blinded us from exploiting. Importantly, I believe in the miracle of 5 loaves and 2 fishes. I believe that God will give us the wisdom and courage to successfully navigate through the current economic crunch”.
It is also amazing to note that Gov. Ugwuanyi in keeping faith with the above vision has in spite of the economic downturn initiated innovative and laudable people-oriented programmes and policies aimed at developing Enugu State.
Apart from the aggressive maintenance of roads in Enugu metropolis to tackle the difficulties experienced by road users as a result of dangerous potholes which create chaotic gridlocks and increase the incidents of accidents on the roads, his administration, to the surprise of many, recently awarded contracts for the construction of eight roads across the state which were earlier advertised and bided for.
The roads include: Abakpa-Nike Road and Nike Lake Road; Opi Nsukka dual carriage Road; Amankwo -Ameke-Amah Brewery junction by-pass road; 9th Mile by-pass road; Ohom-Orba junction-Imilike Ani-Ezimo-Agu-Imilike-Ogbodu Aba-Obollo Ettiti-Amalla-Obollo Afor (Udenu ring road); Enugu Road (Nsukka) Junction-Umuezebi; Post Office round about-Ode nigborou nd aboutOgurugu road-I ken ga Hotels junction; and Obechara road junction-Umuakashi-Mechanic village-Ikenga hotels junction.
This milestone coupled with other remarkable achievements Gov. Ugwuanyi’s administration had recorded is indeed an act of God and the output of his deep sense of wisdom, administrative ingenuity and commitment to innovations, fiscal discipline, transparency and vision.
For me, I equally believe that with faith in God, hard work, innovations, vision and commitment, as Gov. Ugwuanyi noted, Governor Yari’s worries for the nation will soon be over as there will surely be a way out. Otherwise, we may be heading for the worst economic disaster in the annals of our existence as a nation.
As Gov. Ugwuanyi rightly advised, let’s apply vision and hard work to turn the present economic challenges into huge blessings while trusting in God’s miracle for the prices of crude oil to rise in the international market for the nation to survive the shortterm effects of the present challenges.