More than any policy of government, one clear compromise that has made many nations great, is what is known as Elite Consensus.
In plain language, elite consensus is when the creme de la creme of society decides to reinvest their wealth and their emotions in making their nation great, so that it may be better for all. This is done not only via individual charity projects and donations, but when taxation becomes a lot more progressive, and when people understand that it takes personal sacrifice, and not endless criticisms, to build great nations. This required sacrifice is borne more heavily by the well-to-do in society. This is usually a deliberate policy, championed by very futuristic leaders, not mere politicians. It is about getting the well-to-do in society especially, to gain some ownership of their nation.
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Nigeria is especially in need of this elite consensus, for several reasons. Our history has left us with a very large informal economy – perhaps the largest in the world by proportion to the whole economy. A short history lesson may suffice. The amalgamation of Nigeria and subsequent devolvement into states, left us with a carryover of ethnic divisions which we found difficult to manage. In barely six years of self-rule we had had two leaders assassinated, with a lot of blood on the streets. In less than seven years we had a terrible civil war which lasted almost three years and left us with a steep bill in terms of human lives. And in barely 15 years of self-rule, we had wasted a third leader, as we went into a tailspin of authoritarianism. What all of these mean is that most Nigerians don’t see themselves as Nigerians simplicita. And so, most see no reason to contribute to the bottom line. This creates a vicious cycle of underperformance over the decades as manifested in a fairly large GDP (by African standards, but dismal national budgets that we cannot be proud of (one of the lowest in the world, per capita). With low budgets also come a slow pace of infrastructure stock accumulation and this leads to very low economic growth rates. Almost every year, it is rinse and repeat, as Nigerians have mastered the art of finger pointing. Once we can point to ‘leaders’ we can go to sleep and do nothing but cheat our nation.
But with this unprecedented comprehensive review of our tax and revenue laws, Nigeria has arrived at an epoch. They say posterity will always justify a leader that takes hard decisions. And it takes great visionary leaders to enact and catalyse elite consensus and ensure that society is fairer than before. President Bola Ahmed Tinubu has approved a revolutionary tax reform, deliberated on for over 18 months and passed through the National Assembly. This tax reform is pro-poor; it frees majority of Nigerians from every tax burden, and ensures that small business are free from multiple harassments, but it ensures that those who earn or simply come by considerable amounts of money, many of whom may have used informal means to escape the responsibility of paying their fair share back to society, are well documented and made to swiftly conform.
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When we consider other epochal decisions and reforms that Mr President has taken in less than three years – especially around petroleum subsidy, consumer credit, alternative energy, a market-driven currency, long-term infrastructure building, student loans and many more, we could surmise that this is a reform government, which does not bother much about its own popularity – especially among the well-to-do, but with eyes firmly on the goal – Nigeria’s economy must be sustainable into the future. We are not a pariah. We are not an oddity. We should get off our high horse and stop thinking we are somehow too special to achieve positive feats as a collective. What other nations have done, we can too. Why would South Africa’s national budget be eight times ours, when they even have a quarter of the people we have? Why will Angola, Gabon, Algeria, Ethiopia, Kenya be surging ahead in terms of infrastructure? Do these countries value their people more than we value ourselves? Of course, underpinning a good budget is good revenue.
President Tinubu therefore follows the path of other great leaders, like Theodore Roosevelt (who stood for equity and investment in the American heartland), FD Roosevelt (who saw America through a world war and eventual emergence as the most-powerful nation in the world), Lee Kwan Yew (who uplifted Singaporeans from peasants to modernity), John F Kennedy (who swayed largely on the side of the downtrodden and enacted policies that were continued by Lyndon Johnson), Woodrow Wilson (known for his campaigns for good public policy and progressive taxation), Bill Clinton (who was a friend of the masses), Indira Gandhi (who championed for less income disparity among Indians), Lula da Silva of Brazil (whose Bourse Familia arguably turned that country around the corner), and Winston Churchill (whose lifetime politics supported fairer taxation and efficiency), among others.
By this masterstroke, President Tinubu weighs heavily on the side of the downtrodden, selflessly prepares a better economic atmosphere for our children unborn and for leaders to come, and ensures that finally, we shall begin to build our nation rather than run her down constantly and empty our wealth abroad in just about every country. Nation building is a process, not a destination. It is hard work, sacrifice and focus, not magic. With the tax reforms, Nigeria will not victimize a single person – she will only ask for fairness and equity, but Nigeria herself will escape victimization by people who have milked the system just to get undue advantage and oppress the masses. President Tinubu is on the side of the people of Nigeria. And history will be kind to him.
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For decades Nigerians have spoken loudly about elite consensus and imagined an egalitarian society that creates great opportunities for our youths. We have longed for justice and equity in economic, political and social ramifications, and have desired fervently, working infrastructure of international standards, even though we couldn’t envision just how it will occur and how these dreams were to be funded. The time has arrived. I recall writing about elite consensus a number of times in the distant past. In fact, elite consensus, as a sine qua non for economic greatness, is for me, a stronger argument than this cavalier ‘Our leaders are the problem!’ which was unfortunately made popular by no less than the great Chinua Achebe. Nigerians are now being made to think more deeply about our challenges. Who are leaders in the first place? They were followers yesterday. And the accuser today is easily a leader tomorrow. Plus, the very fact that leadership works in a cascade. Apart from political leaders, we have private sector leaders, team leaders, group leaders, and family leaders. Too many people who point fingers decide not to look in the mirror. For is we insist on this ‘leaders are the problem’ rhetoric, we only accuse ourselves and dismiss ourselves into mediocrity. And we use that as a crutch to continue to escape personal liability.
So, I urge Nigerians to ignore agents of backwardness and those who wish to continue lopsided policies and realities that have favoured them at the expense of the majority. They are the ones funding subtle and overt campaigns of calumny and confusion. They just cannot imagine that Nigeria will make real progress. They cannot fathom a day when their billions will come under scrutiny, so they rile up the poorest amongst us – who are the real beneficiaries of the reforms. But we have no time to spare as Nigeria has opened a new chapter. The results of the reform are beginning to manifest. Egalitarianism and fairness are the new modus operandi.
As I finalised this article, I recalled that former Vice President Osinbajo had spoken up several times about the need for elite consensus in Nigeria. He had given extensive talks on this every year since 2021 and the recordings are on YouTube. Recently, the richest black man in the world, Aliko Dangote, admonished rich Nigerians to do better than merely buying loads of private jets which now collide at our airports. That is elite consensus he was talking about. He is saying you should build something in your country beyond flaunting your wealth.
Elite consensus is therefore a powerful concept. In my view, it is much stronger an approach to development than the way we often hang Nigeria to dry and sully her image on the grounds of corruption. While not encouraging brigandage – and corrupt people often see the stress associated with their greed right here on earth – we should understand that every great country today was once more corrupt than we could every dream and are still dodgy in many ways today. America’s politics is fraught corruption and impunity. How do we explain the unilateral intervention just anywhere they want? Britain would not be Britain if she hadn’t dumped heroin on China, and fought three wars to keep drugging up the poor Chinese. This is aside from slave trade, colonialism and other atrocities that come with it. Japan oppressed and massacred the Chinese. Chinese too have their own many atrocities and can be coldhearted in their pursuits. Every nation has their terrible secrets, and no one should try and hoodwink us. That said, I believe it is far better to start rallying wealth generated within Nigeria for the development of Nigeria, not to always get carried away by someone else’s glistening country which they built themselves using every means fair and foul. What is ours, is ours. Let us commence the pragmatic process of self-love and self-development. God bless the Federal Republic of Nigeria.
‘Tope Fasua is the special adviser to the President on Economic Matters.
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