THE NIGERIAN CHANGE A BIG CONSPIRACY OR THE FUTURE
The Nigerian economy has suffered a great change since the last ten years galloping from one level of poverty to another. The new elected government APC also known as “CHANGE PIONEERS” in their interventionist policy propose is putting measures in place to salvage the devastating situation and revamp the economy of Nigeria.
In a bid to put an end to Nigeria’s economic problems and self sufficiency the country experience a lot of changes that dealt a deadly blow on commerce and even international trade. The removal of fuel subsidy that resulted in the increase in pump price of fuel by independent marketers, followed by the final stabilization of price which doubled the old pump
price.
Following the recent pump prices of fuel by the independent marketers, it is becoming clearer the intent of the removal of the fuel subsidy. It is noticed that the independent marketers have varying prices, this is as a result of the increasing in competition in the market; every consumer wants a good value for his money and is willing to patronize the seller that will meet their needs.
Therefore, some sell at exactly the price stipulated by the federal government, some sell even below the pump price per liter and others sell above the pump price. Thereby, using low price, quick turnover as a tool to keep them in business and maintain constant patronage. The prices are stabilizing themselves into a natural equilibrium point where it becomes normalized.
The government haven't known the complications that would arise from such action should have followed strictly on the adherence of the pump price by putting law enforcement agents to work, monitoring the independent marketers from cheating and exploiting the people, that way there wouldn't have been black market activities that causes artificial scarcity even when the fuel pump price is very high.
It was after the wound have grown sore and the masses have been exploited and put through untold hardship, that the government thought of enforcing those laws.
The subsidy removal is another area to look at, a subsidy removal in fuel simply means more money in the hands of the federal government which I can categorically tell you it is unaccounted for. If the amount paid as subsidy is removed then the masses directly pay for it in every liter of fuel pump price. There have been attempt to remove the fuel subsidy before to use it and fund other project that will benefit the masses, as the government of Nigeria claim they pay millions of dollars to subsidize the fuel which are not recoverable through tax and other source of revenue. If my calculations are correct, since tax has increased, trade restrictions have become more stringent and the budget delayed, in the end all the chunks of funds in the country ends in the fat purse of the government who are currently delaying spending any money due to the trending budget padding.
That raises the question of clarity of purpose and accountability, the masses are beginning to call him the silent oppressor, a military dictator in the guise of democratic cloak.
The common sense thinkers see the CHANGE phenomena as a good dream that is badly executed. They see the change as a good thought in the head of a wrong leader, a huge political fallacy designed to decorate their manifestoes. The common sense thinkers, the bases of their argument is that, if you can see the future and know it is going to rain, will you not buy an umbrella and towel? They believe that the federal government should have put structures in place having sighed the effects of the removal of fuel subsidy and strengthening of international trade barriers, should have put structures in place to absolve the problem. The borders are shut In order for Nigerians to patronize home made products manufactured by our companies, but how many of them do we have in Nigeria and how many are actually functional?
Corruption cripples an economy to all fours but PMB has his foresight and resources set on sweeping out corruption and has ignored other failing parts of the economy. The Nigerian corruption cannot be completely eradicated, it can only be reduced and with continuous conceited effort consequently reach a barest minimum. Corruption in Nigeria is deep rooted into our culture and traditions, it's in the way we think act and talk. From giving of colanuts to visitors to giving of undeserved gifts and bending of the laws that has grown into an evil practice called Bribery And Corruption.
Another angle about the PMB administration that doesn't add up is that delayance of the 2016 Zero-budget. The delayance as he posits was as a result of some adjustments he made to the budget he considered unnecessary and extraneous matters. The day the budget was singed by PMB he said that the reason for the delayance or padding in the signing of the 2016 budget was due to the fact the Senate replaced some items in the budget and doubled some expenses in the budget.
In PMB'S quest to wipe out Corruption and Bribery in Nigeria, it is noticed that about %70 of the politicians that were prosecuted and found guilty are from the south. This simply implies that Northern politicians are less corrupt and if they are less corrupt, why has he not caught one Northern corrupt politician, despite the facts that northern Nigeria has the highest number of politicians in this country and also that the govt he overt. This makes his pursuit of a corrupt free Nigeria a big joke and a giant political game. Here, another the big question is, what is happening to the money recovered from those that embezzled Nigerian Fund, it sure does not go to the Federal Account.
After many political acrobat, the details that all Nigerians have been waiting for was released, a bunch of figures were published by the president as the amount recovered, he called it the "Looters List". As much as many Nigerians were expecting to see the list, they were disappointed by its content. The list is not a list at all but a total of amount recovered by PMB as there were no names to collaborate his claim. PMB posits that releasing the names will jeopardize further recovery of funds.
In the same bid, he also promised to publish the names of those corrupt polictians that he has investigated and have evidence that they are corrupt. Why has he not done that? From the count of people PMB has thrown behind bars, most of them are familiar faces from his sordid past when he was the president of Nigeria. The question now is are there men and women In this country that are above the law and cannot be brought to justice?
One thing is certain and undeniable about the APC President Muhamed Buhari, he is doing a good work fighting corruption compared to the PDP Ebele Goodluck Jonathan regime that was fraught with bribery and corruption in virtually all sector of the economy. According to statistics from TIO the corruption perceptions index rank and score in year 2015 is score 26 and rank 136.
Then the borders were shut to international trade which collapsed the internal trade as small scale traders were left to trade the little that was in the country before the restriction was imposed. The whole economy was canned and nothing comes in or goes out. Both import and export was restricted forcing an instant increase in the prices of goods and services within the country. Where garri one of the cheapest consumer good sells for one cup 30, the increase was outrageous as every commodity almost doubled its price. Economist analyst in Nigeria posit that actions like that is meant to improve and protect Home Industries and to prevent capital flight but one will begin to wonder what Home Industry because most of our manufacturing industries are not functional, some Economist claim it is an attempt to force entrepreneurs to bring all their investments home but with the sky rocketing increase in tax no profit motivated business will be able to cut even if they are not owned by the government.
The PMB administration made so many promises that he is gradually reneging on his words. The change pioneer, PMB told in one of his many speeches that he is going to pay every unemployed in the country an amount tagged as “Unemployment allowance” in order to reduce the level of poverty in the country. The senate asked PMB how he intends to make that possible and it was added as part of the 2016 Zero-budget that was delayed till thy kingdom come. The tension on the unemployment allowance issue became tense and once again PMB shows political deniability by redefining the term unemployed as the disabled in the society and those beyond retirement age. He further renage on his promise He said: “This largesse N5,000 for the unemployed, I have got a slightly different priority. I would rather do the infrastructure, the school and correct them and empower agriculture, mining so that every able bodied person can go and get work instead of giving 5,000, N5,000 to those who don’t work.”
Furthermore, the withdrawal of Nigeria in using dollar as their official currency for foreign exchange earnings affected the value of Dollar to Naira in the international market which consequently resulted into the Nigerian Naira losing its value at home, as 20 Naira can longer buy what 20 Naira used to buy.
Many economists translates this as a measure to close the widening gap between the rich and the poor. If there is one thing Nigerians have learnt is that projects that do not affect them directly is a useless effort to reduce their level of poverty.
During the old administration one cannot deny the rampart bribery and corruption in the country. But my question is why do people prefer the old GEJ administration to PMB's administration?
Furthermore, the issue of Buhari's fake Certificate will be the next area of review in the part two (II). To be continued.
Thanks for reading....
