I am afraid the fraud we have seen
year after year in Nigeria has not changed. Here is my point:
Naira has depreciated so much since
Buhari took the rein of government yet allocation to state governments have diminished
so much, and a lot of state governments are owing salary for months. Osun state
for example use to get about N5.7 billion a month under GEJ, this diminished to
about N1.6 billion a month under Buhari (could be slightly better now but this
is the last figure I found). A barrel of petroleum sold for an average of $100/
barrel during GEJ's time but naira exchanged at N165/ $1. Today, a barrel of
petroleum sells for about $50/barrel, but the exchange rate on the average in
2016 was between N300 - N500 to a $1. When you compare the revenue accruing to
the purse of Federal government, you realize that Buhari's government has seen
about the same amount or more revenue with a devalued naira. Let use this
simple analysis of hypothetical output where we assume Nigeria sold a 1000
barrel of petroleum:
1. During GEJ's time, a 1000 barrel
would have fetched Nigeria:
1000-barrel x $100/barrel x N165/$ =
N16.5 million
2. Under Buhari in 2016, a 1000
barrel would have fetched Nigeria:
1000-barrel x $50/barrel x (N300 to
N500/$) = N15 to N50 million. If we go by the official exchange rate of between
N250 to N320 to a $1, Nigeria under GMB would have made as much money in 2016
as it did under GEJ. Where is the money Mr. President, Nigerians are suffering?
The current government supposed to explain to Nigerians why the Federal government is crying that revenue from petroleum has decreased. Low daily petroleum production notwithstanding. What we know today is that daily production/ export has risen back to about 2.114 million barrel/day (http://www.opec.org/opec_web/en/about_us/167.htm) - this 2015 figure, 2016 was better. This is irrespective of what the nation made from natural gas with a production of 26.7 billion cubic meters in 2015 (Nigeria produced about the same amount in 2016). These revenue is excluding the amount of money the Federal government of Nigeria has recovered from previous administration that runs into billions of naira.
President Buhari said fighting corruption is the corner stone of his presidency. It is obvious he has failed woefully because Nigeria has no business being in recession with this much of revenue accruing to the pursue of government. Many states are owing civil servants and the economy has been receded because of the slow pace of governance and the inability of Buhari to curb corruption. If no single high profile case of corruption has been prosecuted to a logical conclusion under Buhari, where is the fight? Judiciary being corrupt not withstanding - it was the same judiciary that OBJ used to prosecute many high profile cases of corruption. Nigeria as a nation cannot progress if corruption is not nip in the bud.
Well-meaning Nigerians need to begin to strategize for 2019, we need leaders who can deliver for us and not for them. Not career politicians, technocrats and pragmatic leaders with proven record of integrity PLUS demonstrated capacity to lead without fear. Leaders who can take bold steps. My General Study (GNS) lecturer at Lautech said "there must be disorder before order" - Nigeria needs radical change at leadership - this is not a call to violence but a call to stand for what is right - we are not satisfied with the status quo. We need a true change. We need new generation of leaders not the old folks who have failed the nation. Can you imagine Buhari after 4 attempts at presidency and he finally got it, ALAS! he has NO MASTER plan – nothing. How many books has he read about the nation between 2003 and 2015, how many training did he attend on leadership, what is his understanding of the diversity of our nation, and what kind of solution has he proffered to unite us in spite of our differences? What is the plan he has to revamp the economy? Where are his 4 and 8-year strategic plan for Nigeria? What understanding does he have of our potential in agricultural production, technology development, educating our teaming youth, creating jobs, resuscitating the manufacturing sector that is dead, etc.? How does he want to prepare Nigeria to catch up with the rest of the western world in leading in innovation in science and technology in the next 5, 10, 20 years? These are the critical questions we need to ask our leaders – the good book (Bible Luke 14:28-31) says, paraphrasing “have you seen a man that wants to build a house and does not sit down first to plan based on his available resources – such will be ashamed at the end”. We should not endure another leader is not prepared, who lacks the capacity to lead or who is corrupt. We need people with capacity and those with love of the nation to lead. Long live Nigeria!
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