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Troubled Economy: We Only Need the Right Institutions

Controversy, it seems all over the land. First, it was the post election violence, then followed the stepping up of bombings by the Boko Haram sect; the unprecedented scheming about how to share four key national offices: Senate President, House of Reps Speaker, Secretary to Federal Government, and Peoples Democratic Party (PDP) National Chairman, which became serious issues till date, particularly since the dramatic turn of the events that culminated in the emergence of Aminu Waziri Tambuwal as House of Representatives Speaker from the same northwest geo-political zone with vice president Namadi Sambo.

Then the Islamic banking issue, together with its cashless policy elder brother, as well as their sibling: the troubled banks matter. Following them had been the N18,000 minimum wage wahala, which is going in pari pasu with the bid to remove oil subsidy. And as if the country was not having enough trouble, from the blues the single tenure palaver jumped into the fray, with the nation now having aches, pains and feverish condition all over its body.

In all this, it is only one thing that I deduce, that Nigeria is in distress, with its economy seriously troubled, as a result of lack of prudence and transparency in management of public affairs of the country, as well as the lack of the boldness on the part of the governed to use the legitimate means available to them to resist deceit and put things in their right positions, particularly putting the right leaders at the various strata of our national life.

The organized labour is only interested in agitating for pay rise whenever it pleases them, but chickening out in areas that matter most. Why has the NLC not led agitation against poor state of roads, looting of public treasury and not making the country self- sufficient in food production and supply. Several billions of money are spent annually on agriculture without yielding much as the issue of electricity is major cause of unemployment.

For me, the only solution to the issues of concern mentioned above and to putting the country and its economy on a firm footing without all this hue and cry about domination, religious and sectional bigotry, nepotism, etc, are:

  • Putting the right institutions in place, which will guarantee free and four electoral process that CAN NEVER EVER be manipulated by anybody, right from the selection of candidates to declaration of final results;

  • having a true state of democracy and rule of law where the judiciary CAN NOT be manipulated to give skewed verdicts, particularly on tempestuous and emotive issues of election and other critical matters of public interest;

  • having TRUE federalism as the country had during the era of regions;

  • removing immunity clause or any such instrument that shield(s) elected public officers from probity or that encourages and protects impunity in governance, and

  • finally, re-orientating the civil and public service, as well as the police to exorcise them of the endemic disease of chronic corruption that has stratified over the years in the system and became their norm because corruption is not only the trouble with the high echelon of public and civil service but also with the middle and junior ranking/level personnel. Most of the time it is the junior workers that show their bosses like ministers; commissioners, directors the route to corruption and bribery.

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