BEFORE THIS ECONOMIC CRISIS TRANSIT INTO MELT-DOWN- FELA ROTIMI
Winning a general election for any major opposition party or coalition of parties; in any part of the world is considered a relatively easier task, compared to the nitty-gritty of governance. That is why opposition parties must of necessity engage in, not just rhetoric of opposition politics; but also bounce around ideas & ideals that are credible, workable, believable, deliverable within a tenure and explainable as to cost & source of funds for such programmes.Even at the risk of over-preparation for government and subsequently losing an election, there is no excuse for an opposition to rail-road itself into government on spurious programmes, untested policies & half-baked ideas; all in a desperation for power.
Once sworn-in, a President is under enormous pressure to deliver as-soon-as politically possible. Morale boosting programmes, leadership enthusing policies and politics that builds confidence of citizenry are meant to be enforceably signposted, carefully choreographed, symbiotically synchronized, professionally handled, smartly scripted and demonstrably delivered; with political fanfare of a new government in-power, in-command & in-control. Anything short of this, a new team is open to ridicule, inquisitions of deficit preparation, babel of voices with confusing advice and ensuing confusion just elongates.
Litany of errors for Buhari Presidency continues to go from the sublime to the ridiculous. At the last count, even friends of the Presidency like Prof. Wole Soyinka advised a crisis economic conference; and Prof. Pat Utomi asserted our economy is already in recession. Whilst all these play-out, our international friends watch anxiously. The international community are a funny lot and to believe their initial support of President Buhari is so open-ended that could be guaranteed going forward, is the height of ignorance & error of judgement about how international diplomacy operates in real-time.
Economy of any nation is the nerve center & operational base for any administration. Lose control of this & you surrender to market forces which – without adequate checks and balances; could force-through policies inimical to good governance. Once you lose economic control, your independence as a nation & sovereignty to function is out of the window. For international community, timing is of essence as to how long self-inflicted recession, carelessly-induced run-away inflation, possible trigger of economic migration with attendant brain-drain; could be tolerated. This is why call for crisis economic conference to sound-out experts & stakeholders about how to navigate a way out; makes economic sense.
Economy of Nigeria is too massive for international community to ignore; population of Nigeria is too large for our people to be left to wander the globe and potentials of Nigerians are too richly blessed to wave-off. If this conference is not convened with urgency and naira continues to race-away from the dollar; then this economic crisis could jolly well magnify beyond national expectations – when we factor-in other attendant challenges. World debate must not shift from our home-grown economic conference, to National Conference – in diplomatic lexicon, or regime-change – to be blunt.
Conclusively, the safe & sane passage out of this impasse is the crisis economic conference option. Of course, it might be a bitter pill to swallow for a promising Presidency that was welcomed on a wave of expectations & within a year in the saddle. lt might on the long run prove much cheaper, acceptable, politically correct & face-saving, than to trigger political consequences that could stretch up-to and beyond regime change. Buhari Presidency has to set in-motion whatever it would take to get Nigerian economy back to normalcy, before this economic crisis transit into full-blown melt-down.
Buhari’ government through the ministry of finance took to twitter…