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Thursday, 3 March 2016

NIGERIA'S PRESENT ECONOMIC PREDICAMENT AND THE NEED TO SAVE FOR THE FUTURE

Back in school, there's one of our lecturers that use to say, "Do not live the life you are suppose to live in ten years time now" there's a saying that do not live a life of champaign on beer income, one of my uncles then no matter how small always remains his food and when i enquired why? He said "You must always save for the rainy day".

The above assertions apply to Nigeria's present economic woes. What we are experiencing today is bad economic decision and policies by past administrations and leaders. There was a time when oil price sold above $100 per barrel, what did we do with the money, today it sells for a paltry $36 or there about. If we want skyscrapers to be built now with $30 daily income on oil barrel, then those who watched over while we sold it for $100 should refund us the excesses.

What do you expect when over the years and even till now, no one knows the actual take home of a senator in Nigeria including allowances. It is believed that a people numbering less than 200 share a great percentage of our annual budget. This is why when i see one man who says he is making common (NON)sense on TV i shake my head and just laugh. Till date he has not told Nigerians his take home as a senator or the pay cheque of an average Senator.

We were all here when a man opened our treasury and began to share money meant to fight crime among his cronies and you think there's no consequences for that? During the 2015 Presidential elections, i saw dollars everywhere. I wondered then if it has become our legal tender. Today the Naira is now shy whenever it sees the dollars. How can you go about spending dollars in a Naira economy and think the Naira won't be weakened?

Over the years we have based our political choice on ethnicity, religion and party. Hence our various bad leaders. Today what do we get? A leader enriches people from his region to the detriment of the Nation. If those who have been at the corridors of power have structured or restructured the country on strong economic, judicial, legislative, social institutions among others, we wouldn't have been this polarised as a nation today and faced with this myriads of problems as if we just gained Independence. A situation where some group of unpatriotic business men hold a nation to ransoms in the name of subsidy, or importation of various goods. This importers see themselves as demi gods and even sabotage Government efforts. When people take delight in suffering fellow citizens knowing they would blame government.

It is so saddening that a man told us he had no shoe before going into an office. But when he got there, he forgot all those who also had no shoes like him rather he bought more shoes for those who already have. That is why today many of us including me still walk bare footed. If he had bought us shoes, would they all have been bad this early that he left office that we still walk about barefooted?

Every day, we hear diversification. Previous administrations told us they have diversified and that agriculture has been boosted. Today the prices of foodstuffs that are locally made have skyrocketed including banned imported ones. If we have improved agriculture as we were told, why are we suffering just now they left. Where are the agricultural products?

We were told they built power plants that power have been privatised and electricity have improved. But today we hardly see light and when we do, it does not last and my friends say it has epilepsy. If power had been improved by past administrations, we would not have had it this bad even in the worst economic condition. Or is power also affected by dollar rise?

What we face today, is a lesson to us, not only to government but to everyone. When there's is surplus, a time will come when there might be nothing or reduced. In whatever we do, we must save for the rainy day. Today we suffer the consequences of our bad decisions. Many want a quick fix to a problem that took years to materialize. Is that possible?

Before we cry we must be Objective. This writer knows many who does not have a job today, but they still did not have six years ago. But they blame this Government more. And you begin to wonder. In those six years, they depended on crumbs from top politicians and forgot they needed a job and today those politicians no longer participate in yam and cow sharing, and as such no more crumbs for them.

If past government have done their job with the masses at heart and the love for humanity, maybe we wouldn't have been this impoverished or hit by this recent economic macabre dance.

Next time when have surplus, let us remember to save, or encourage those who manage our resources to do so.

We would love to hear from you, have you saved for the rainy day? Use the comments box. Critics are welcomed.

Princewill Chimereze
Writer, Public Affairs Analyst, Facilitator and Social Commentator.
@P_Chimereze

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