Come October 1, Nigeria will mark its 50th year post-independence, but the significance of the milestone, if any, is lost given the lack of connection between the governed and the governors.
Ikemuefuna Musa, a Nigerian citizen writes the Guardian newspaper to ask why Nigeria must borrow to grow its economy. His letter is a response to a March 25, 2009 article on the newspaper titled: “Why Nigeria must borrow to grow economy, by government”. The article quotes the Minister of Finance and the Director General of the Budget Office, who said “the country must borrow if it is to achieve some of its economic targets”. The Minister said, “it has become necessary to seek other revenue sources to finance the budget deficit due to falling prices of oil”.
Excerpts of Ikemuefuna letter to Guardian:
Before the falling oil price, I had been reading in The Guardian these past few years of huge benefits from the sale of crude oil per barrel. Even at some point, it was a bonus to the budget…
If Nigeria were to borrow now, what tangible projects are we going to see?
Will the money be used to build the refineries, I don’t mean repair, or will there be functional railways that can improve the transportation system for sustainability?
Is the Benin-Ore road going to be reconstructed with that money? Even if it were, I still prefer development from within for real growth. If we opt for borrowing, what will become of us if the [economic] crunch last as long as the years of depression [probably referring to the Great American depression of 1929-1930]?
Ikemuefuna’s questions is valid. And it’s one of the many 800 pound gorillas in the room. We can’t ignore them, and which none of the Nigerian policy makers, and legislators — and even the new Nigerian re-branders — are ready to address. Even if they do, the fidelity of such answers can’t not ascertained. It will just be another policy statement.
To me — and to many Nigerian ‘Ikemuefunas’ out there — this is the ‘annoyance element’ that comes with Nigerian statehood.
Unfrotunately it doesn’t take a soothsayer to state that until the nation handlers fully understand the pivotal role of good governance, particularly the interactive and community-orientated nature of democracy, Nigeria will remain just what it’s now — a crippled nation of huge potential. And it will be just a matter of time before those potentials become catastrophic liabilities…just take a look at the Niger delta.
All things are falling apart rather quickly in Nigeria, the ongoing economic crisis is not helping either. Yardy has clocked 2 years already, he’s half way through, let see how the remaining half will be. It is interesting Yardy’s fellow PDP Senators are now disturbed by his leadership style and non performance.
April 8, 2009 at 11:28 am
I shudder to think that Yardy has 2 MORE YEARS to go. Scarry, very scarry, for judging by the first two years, Nigeria seems to be taking giant leaps and bounds…….BACKWARDS in many areas and especially in the Leadership sector.
Please God, be merciful on Nigeria and give Yardy a new heart, mind, soul and head. Amen.
April 8, 2009 at 1:41 pm
Omotaylor, I really feel you. The thought of two more years of Yardy is indeed horrific.
I desperately hope that his tenure ends quickly. The mention of, or even thought of a second term in his case should be forbidden and anyone who even thinks about it should be jailed.
April 9, 2009 at 6:08 am
I pray today more than ever that anybody who foolishly, craftily, sycophantically or even wickedly supports Yardy for a 2nd term in office, should meet the sort of end that God unleashed on Sanni Abacha – amen.
Haha what has the poor people of Nigeria done to deserve such wickedness in high places? Arent we all HUMAN BEINGS with blood in our veins. We feel pain, we feel hunger pangs and this being born free but in chains all the time position of the common man in Nigeria must stop. Many families hunger die of sicknesses and diseases, many cannot afford education for their children and many more cannot even feed their immediate families. In the midst of these some selected few are stashing away millions (no sorry billions), sponsoring mistresses with billions, stuffing their guts with champers, overich foods and brandies as if there is no tomorrow. May there be no tomorrow for all wicked people in Nigeria AMEN.
Some were sponsoring Abacha to become Civilian President but God acted fast. Those trying to make poor poor sicky feeble nicely quiet and clueless Yardy are only trying to kill him. We love him hence we pray he even retires asap and live long and happy. AMBITION IS MADE OF STERNER STUFF.
IN GOD WE TRUST FOR THIS IS OUR NIGERIAN DREAM.
April 9, 2009 at 5:02 pm