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A NOTE TO MARK MY BIRTHDAY~ Hon Oladimeji Fabiyi
NOTE TO MARK MY BIRTHDAY: 22/11/2020. First, I wish to express my heartfelt gratitude and appreciation to Almighty God, the most beneficient, the most merciful, the creator of heavens and the earth, the owner of the day of judgement for making me witness another day of my Birth. As a Nigerian who is ever optimistic...

NOTE TO MARK MY BIRTHDAY:

                22/11/2020.

First, I wish to express my heartfelt gratitude and appreciation to Almighty God, the most beneficient, the most merciful, the creator of heavens and the earth, the owner of the day of judgement for making me witness another day of my Birth.

As a Nigerian who is ever optimistic about our dear country’s huge potential and every chance to succeed. I feel so unhappy to see that rather than progressing as a people and nation, we are retrogressing and almost at a point of being called Pariah.

The unfortunate news from the National Bureau of Statistics confirming our country’s slide into second recession in four years is a huge cause for concern for me and many Nigerians.

Nigeria under President Buhari’s administration has witnessed two major global shocks in the last five years, the first, in 2016 caused by cyclical downturn in 2015, and the second in 2020 occassioned by the global Covid 19. No doubts , the two global crisis impacted the Nigerian economy through oil price collapse.

Indeed, It has been turbulent years for Nigerians. However, a capacity filled government would have looked inward and find solution to the looming economic crisis.

Even in a situation where an increase in fiscal spending of the last five years has appeareds to increase the country’s vulnerability to future oil price collapse due to mounting public debt and lack of fiscal buffers, a new thinking and character of government is highly desirable to manage the country.

Our economy has not been in the best of shape, and this had badly affected every other sector of our nation. For Instance, the national unemployment rate rose from 8.19 % in Q2 2015 to 23.1% in Q3 2018, also the rise in National Poverty rate to 40% in 2019.

Again, the security repercussions of the flagging economy and labour market has created an epidemic of banditry in the Northern Nigeria. The poorest region in the country, wanton killings, unmet challenge of ending the Boko haram insurgency in the North East contrary to Buhari’s promise of doing so within six months of assuming office.

Just five months ago, the United Nation conference on trade and development (UNCTAD) disclosed that foreign direct investment (FDI) into Nigeria declined by 48.2 % to $3.3 billion in 2019 from $6.4billion in 2018. This decline in Nigeria was due to slowdown in investment in the oil & Gas industry.

The public debt stock as at June 2020 stands at 31 trillion in naira terms, this covers debt stocks of Federal, 36 state government and the Fct.

Just few days ago, the government quietly increase the petrol pump price from 163 naira to 171 naira and what the minister could say was that Nigerians will get used to it as they did on diesel and kerosene, this is utter rubbish and high display of arrogance and disrespect to Nigerians.
The electricity tariffs have gone back all high and the government is less concerned.

This pattern of monumental failures has also characterized the government response to Covid 19, we all can see how badly it was managed following the outcry that greeted the management of palliatives that ran into billions of naira.

Therefore, the failure of PMB government in steering the economy and securing Nigeria despite its big spending can not be divorced from official corruption under the nose of the President Buhari.

Another huge worry for me is the absurd treatment meted to our ever conscious, dynamic, vibrant, responsible youth that staged a peaceful #endSARS protest but were killed and assaulted by some agencies of government.

It must be stressed that the protest is a genuine agitation borne out of patriotic zeal and demand for good governance, not from any misconceived ideas or premodial sentiments.

A responsible government should have seen our youths as partners in progress rather than irritants, they should have been treated with utmost respect and not like dissidents.

The government should be responsible in their dealings with Nigerians and be honest, as justice must be seen to have been done to all affected individuals and families one way or the other.

The Nigerian government of today have not done well in its responses to these challenges. The government had on many occasion introduced measures to restore economic well being of our people which unfortunately have not made any meaningful impact.

As an economists, I care less about what programmes being touted by a government, I am only interested in the deep impact such measures have on the people.

In the circumstance, can we say all the measures introduced so far by the Buhari government have made serious impact on our people? The answer is no.

The recent esad news of slide into second reccession within four years is undoubtedly retrogressive for Nigeria. It is a testimony to the lack of capacity of the current leadership to think outside the box, also the refusal to accept or adhere to many voices providing workable solutions and suggestions, offering helping hands is a minus to this government.

Leaders and individuals like the Former Vice President Atiku Abubakar and many other well meaning Nigerians have on many occasion signified readiness to help the government of Buhari, but have been rebuffed or ignored. This is not how a nation is governed.

Lest I forget, living a legacy requires or demands a deliberate efforts to go extra ordinary, or a bit further. Times and chance sometimes are inherent factors that help in achieving or not such legacy.

President Buhari must strife to leave a lasting legacy as the one who gave Nigerians an electoral laws that strengthen our democratic process and political development.

I believe President Buhari has those inherent factors that can make Nigeria political and democratic process survive. Therefore, he should sign a new electoral act as passed by the National Assembly into law without further delay.

Finally, it may be too late in the day, but for Buhari administration to reverse its negative performance profile, it needs to change its character, dismantle its unwidely structure and small world view that have disenabled capacity- building for effective public sector governance. It must expand the roles of local private sector in delivering capital projects. It must change from promising more and doing less.

Thank you for sharing this moment with me.

~ Fabiyi Oladimeji

                22/11/2020.

First, I wish to express my heartfelt gratitude and appreciation to Almighty God, the most beneficient, the most merciful, the creator of heavens and the earth, the owner of the day of judgement for making me witness another day of my Birth.

As a Nigerian who is ever optimistic about our dear country’s huge potential and every chance to succeed. I feel so unhappy to see that rather than progressing as a people and nation, we are retrogressing and almost at a point of being called Pariah.

The unfortunate news from the National Bureau of Statistics confirming our country’s slide into second recession in four years is a huge cause for concern for me and many Nigerians.

Nigeria under President Buhari’s administration has witnessed two major global shocks in the last five years, the first, in 2016 caused by cyclical downturn in 2015, and the second in 2020 occassioned by the global Covid 19. No doubts , the two global crisis impacted the Nigerian economy through oil price collapse.

Indeed, It has been turbulent years for Nigerians. However, a capacity filled government would have looked inward and find solution to the looming economic crisis.

Even in a situation where an increase in fiscal spending of the last five years has appeareds to increase the country’s vulnerability to future oil price collapse due to mounting public debt and lack of fiscal buffers, a new thinking and character of government is highly desirable to manage the country.

Our economy has not been in the best of shape, and this had badly affected every other sector of our nation. For Instance, the national unemployment rate rose from 8.19 % in Q2 2015 to 23.1% in Q3 2018, also the rise in National Poverty rate to 40% in 2019.

Again, the security repercussions of the flagging economy and labour market has created an epidemic of banditry in the Northern Nigeria. The poorest region in the country, wanton killings, unmet challenge of ending the Boko haram insurgency in the North East contrary to Buhari’s promise of doing so within six months of assuming office.

Just five months ago, the United Nation conference on trade and development (UNCTAD) disclosed that foreign direct investment (FDI) into Nigeria declined by 48.2 % to $3.3 billion in 2019 from $6.4billion in 2018. This decline in Nigeria was due to slowdown in investment in the oil & Gas industry.

The public debt stock as at June 2020 stands at 31 trillion in naira terms, this covers debt stocks of Federal, 36 state government and the Fct.

Just few days ago, the government quietly increase the petrol pump price from 163 naira to 171 naira and what the minister could say was that Nigerians will get used to it as they did on diesel and kerosene, this is utter rubbish and high display of arrogance and disrespect to Nigerians.
The electricity tariffs have gone back all high and the government is less concerned.

This pattern of monumental failures has also characterized the government response to Covid 19, we all can see how badly it was managed following the outcry that greeted the management of palliatives that ran into billions of naira.

Therefore, the failure of PMB government in steering the economy and securing Nigeria despite its big spending can not be divorced from official corruption under the nose of the President Buhari.

Another huge worry for me is the absurd treatment meted to our ever conscious, dynamic, vibrant, responsible youth that staged a peaceful #endSARS protest but were killed and assaulted by some agencies of government.

It must be stressed that the protest is a genuine agitation borne out of patriotic zeal and demand for good governance, not from any misconceived ideas or premodial sentiments.

A responsible government should have seen our youths as partners in progress rather than irritants, they should have been treated with utmost respect and not like dissidents.

The government should be responsible in their dealings with Nigerians and be honest, as justice must be seen to have been done to all affected individuals and families one way or the other.

The Nigerian government of today have not done well in its responses to these challenges. The government had on many occasion introduced measures to restore economic well being of our people which unfortunately have not made any meaningful impact.

As an economists, I care less about what programmes being touted by a government, I am only interested in the deep impact such measures have on the people.

In the circumstance, can we say all the measures introduced so far by the Buhari government have made serious impact on our people? The answer is no.

The recent esad news of slide into second reccession within four years is undoubtedly retrogressive for Nigeria. It is a testimony to the lack of capacity of the current leadership to think outside the box, also the refusal to accept or adhere to many voices providing workable solutions and suggestions, offering helping hands is a minus to this government.

Leaders and individuals like the Former Vice President Atiku Abubakar and many other well meaning Nigerians have on many occasion signified readiness to help the government of Buhari, but have been rebuffed or ignored. This is not how a nation is governed.

Lest I forget, living a legacy requires or demands a deliberate efforts to go extra ordinary, or a bit further. Times and chance sometimes are inherent factors that help in achieving or not such legacy.

President Buhari must strife to leave a lasting legacy as the one who gave Nigerians an electoral laws that strengthen our democratic process and political development.

I believe President Buhari has those inherent factors that can make Nigeria political and democratic process survive. Therefore, he should sign a new electoral act as passed by the National Assembly into law without further delay.

Finally, it may be too late in the day, but for Buhari administration to reverse its negative performance profile, it needs to change its character, dismantle its unwidely structure and small world view that have disenabled capacity- building for effective public sector governance. It must expand the roles of local private sector in delivering capital projects. It must change from promising more and doing less.

Thank you for sharing this moment with me.

~ Fabiyi Oladimeji

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