• The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
Saturday, June 10, 2023
Premium Times Nigeria
  • Home
  • 2023 Elections
    • Presidential
    • Gubernatorial
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
    • Gender
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Home
  • 2023 Elections
    • Presidential
    • Gubernatorial
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
    • Gender
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad

In search of a driver: Nigeria and paralysis, despite analyses, By Umar Yakubu

As all our solutions are known, where and how are we going to 'recruit' leaders that possess the political willpower to address and implement systemic change.

byUmar Yakubu
May 17, 2023
Reading Time: 4 mins read
0

…as I listened to all the speakers, one thing was clear, as usual: that all our problems are well documented and analysed. I also think that all the varieties of solutions are well documented. What seems to be missing is the ‘driver’ with the right competence to jumpstart the country towards progress. So, how do we get the right drivers at all levels to improve our economic performance? What kind of political model will boost economic development in Nigeria?

A leader is one who knows the way, goes the way, and shows the way. — John C. Maxwell.

The Nigerian media space has been awash with intense discussions about politics, cash limitations, corruption and all the negativities of the normal media. So, it was quite a relief that someone decided to talk about governance, on which most of our problems are centred. In partnership with the US-based Carnegie Endowment for International Peace, an Abuja-based think-tank, Agora Policy, organised a one-day programme to discuss a book by Zainab Usman on “How Nigeria can build a post-oil economic future”. Although I have not read the book to be able to make authoritative comments on it, I will rely on the judgement of someone I consider a genius in economics and governance, Professor Charles Soludo. He confirmed the brilliance of the book and its relevance to Nigeria’s development, while further displaying three other voluminous books, The Political Economy of Economic Growth in Africa 1980- 2000; Economic Policy Choices for a Prosperous Nigeria; and The Politics of Trade and Industrial Policy in Africa, to highlight how long we have been documenting the solutions to our problems in Nigeria.

In summary, it was a brilliant programme. Going beyond the norm, deep conversations on the way forward for the country were had at the programme. An event having two former CBN governors in attendance, dozens of economists, private sector practitioners, development partners, and civil society organisations was certainly expected to be robust. Dr Zainab emphasised the need to keep having the right deep conversations pertaining to Nigeria’s development because, as other nations are planning for the next generation, we cannot properly liberalise oil to explore its potential fully, particularly since the passage of the Petroleum Industry Bill into law in 2021, not much has changed about the fiscal space in Nigeria. All the inefficiencies and rent-seeking activities within the NNPC still exist till date. But that’s a story for another day.

…there is consensus that democracy is the best political system for economic development, as it fosters accountability, participation, transparency, and human rights, which are conducive to growth and development. Democracies are supposed to be more pro-reform and less prone to corruption and rent-seeking. Moreover, democracy may also enhance social cohesion and stability…

Yet, as I listened to all the speakers, one thing was clear, as usual: that all our problems are well documented and analysed. I also think that all the varieties of solutions are well documented. What seems to be missing is the ‘driver’ with the right competence to jumpstart the country towards progress. So, how do we get the right drivers at all levels to improve our economic performance? What kind of political model will boost economic development in Nigeria? As all our solutions are known, where and how are we going to ‘recruit’ leaders that possess the political willpower to address and implement systemic change.


FIRS

After years of military rule, there is consensus that democracy is the best political system for economic development, as it fosters accountability, participation, transparency, and human rights, which are conducive to growth and development. Democracies are supposed to be more pro-reform and less prone to corruption and rent-seeking. Moreover, democracy may also enhance social cohesion and stability by allowing for the peaceful resolution of conflicts and representation of diverse interests. We mostly like to quote China, Singapore, South Korea, and Taiwan when discussing economic successes, while forgetting that most of those countries are authoritarian in their leadership. But they were not encumbered by our kind of toxic politics. Like others, our country is largely shaped by history, geography, a resources culture, religion, demographics, and external influences, which also play a great role. But we are among the few, parts of whose negative pasts are fully weaponised to our detriment.

The world has equally moved away from political ideology, and the logic of military might is paving way for geoeconomic power – in which the interplay of international economics is the primary national interest. We must fully explore the geoeconomics of international trade, resources, transportation, communication, and finance. 

Solutions? We need leaders who will downplay politics and project economic growth through concrete diversification, while factoring in geoeconomics. The oil will soon dry up. Even if it doesn’t, alternatives are already springing up. The world has equally moved away from political ideology, and the logic of military might is paving way for geoeconomic power – in which the interplay of international economics is the primary national interest. We must fully explore the geoeconomics of international trade, resources, transportation, communication, and finance. This entails having strong policies for trade, investment, financial and monetary matters. Such issues cannot be subjected to local politics or other extraneous considerations.

Our prosperity relies on the quality of our politics, but not everything should be political. Our ambassadors cannot be career politicians. Sound economists should head the Central Bank of Nigeria (CBN), alongside ministries like Trade, Finance and even Foreign Affairs. Technocrats should be at the helms of Nigeria Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and Federal Airport Authority of Nigeria (FAAN). Rent seeking must be abolished in these areas. Competence should be the main criterion in leadership selection in critical sectors that revolve around security, economics and trade. China has shown us the way. Let us hope the new set of drivers will follow the path. 

TEXEM Advert

Umar Yakubu is with the Centre for Fiscal Transparency and Integrity Watch. Twitter @umaryakubu

 

 

Share this:

  • Twitter
  • Facebook
  • WhatsApp
  • Telegram
  • LinkedIn
  • Email
  • Print

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Kogi AD

Donate




TEXT AD: Call Willie - +2348098788999






PT Mag Campaign AD

Previous Post

1xBet will continue cooperation with the singer Davido

Next Post

Probe Presidency officials, ministers, Governor tells EFCC

Umar Yakubu

Umar Yakubu

More News

Osmund Agbo writes about the search for meaning in life.

Whispers of significance: The quest for life’s meaningful path, By Osmund Agbo

June 10, 2023
Owei Lakemfa writes about homosexuals and politics.

Homosexuality should neither be criminalised nor weaponised, By Owei Lakemfa

June 10, 2023
Bola Ahmed Tinubu , the presidential candidate of the APC.

Is Tinubu the action man Nigeria needed all along?, By Toby Jacob

June 9, 2023
Mike-Ozekhome writes about the travails of Senator Ike Ekweremadu.

How Buharocracy put Nigeria in throes, By Mike Ozekhome

June 9, 2023
Imam-Murtada-Gusau writes about The first ten days of Dhul-Hijjah, day of Arafah and Udhiyyah.

Friday Sermon: The first ten days of Dhul-Hijjah, day of Arafah and Udhiyyah, By Murtadha Gusau

June 9, 2023
Professor Jibrin Ibrahim writes about Buhari's last days as president and a frenzy of “governance”.

Hadi Sirika and Nigeria Air: Understanding the failure of the Buhari administration, By Jibrin Ibrahim

June 9, 2023
Leave Comment

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game

Projects & Partnerships

  • AUN-PT Data Hub
  • #EndSARS Dashboard
  • Parliament Watch
  • Panama Papers
  • AGAHRIN
  • #PandoraPapers
  • Paradise Papers
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2023 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • 2023 Elections
    • Presidential & NASS
    • Gubernatorial & State House
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Gender
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • AUN-PT Data Hub
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • DONATE
  • About Us
  • Advert Rates
  • Dubawa NG
  • Careers
  • Digital Store
  • Contact Us

All content is Copyrighted © 2023 The Premium Times, Nigeria

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist