INDISPUTABLY, the die is cast between
the ruling party, All Progressives Congress (APC) and the oppositions for the
control of power particularly the central government as this tenure wraps up. However,
the titanic battle will likely be between APC and the major opposition,
Peoples’ Democratic Party (PDP) on account of its widespread, viable and
visible structures across the nation as a former ruling party.
As usual, masses
are inundated with campaign promises. Whilst the APC candidate, President
Muhammadu Buhari presented a ‘Next Level’ package to the people, his PDP
counterpart, former Vice President, Atiku Abubakar offered ‘Making Nigeria work
again’ bundle.
The third major contender in terms of
structures is the Social Democratic Party (SDP) with Donald Duke as its
candidate. Incidentally, there are no visible actions from the quarters at the
moment. Duke stands between the older and younger generation and obviously, would
have been the ideal candidate by his experience, age and alluring look, had the
economy been systematically, productively set in motion and running effectively
before now. Unfortunately, the job and situation of the country presently exceptionally
requires political-will for solid foundation; indispensable for significant
attainments. The willpower to undertake critical tasks irrespective of whose ox
is gored is a sine qua non to luxuriant
growth of the economy. Hence, at this critical stage, the nation requires more
of value than glamour.
As for the two giant forces, their
scorecards are straightforward. A holistic examination showed that from 2010 to
2014, average price of crude oil was $99.29/barrel as against $53.24/barrel it
sold from 2015 the present administration came to power. In fact, at a point
during Chief Olusegun Obasanjo’s administration, it climaxed to a whooping $145/barrel.
During Buhari’s first year in office, it plummeted to as low as $28/barrel.
Meanwhile, the OPEC benchmark was $45/barrel. It implies that any transaction
above the benchmark is a marginal profit while below; a deficit. And where a
nation solely depended on the commodity as Nigeria then; invariably, an
economic recession. In other words, crude oil boomed during PDP administrations
unlike in the present APC regime, and would have substantially, realistically
advanced the nation if judiciously managed.
Factually, during the period under
examination, despite the fact crude-oil brought huge wealth to the treasury, corruption
impeded its impact. Whilst Goodluck Jonathan’s government secured $29.6bn in
the nation’s Foreign Reserve, Buhari’s government despite global crash in
crude-oil price safeguarded $42.3bn. On Sovereign Wealth Fund, PDP government
deposited only $1bn while APC government amidst economic recession recorded
$1.5bn. Logically, Buhari achieved more even with less oil revenues. Ineffably,
the nation witnessed colossal figures of abandoned projects despite oil boom
under PDP. Then, party chieftains with unrelated skills would arbitrarily bid
and hijack contracts but ended up reselling to third-party contractors after
initial payment. The moment the new contractors received their rations from
upcoming budgets, they follow suit, abandon it and abscond under the ‘national-cake’
syndrome. Still, the projects will keep reflecting in ‘padded-and-unpadded’
budgets for many years.
Beyond the crude-oil revenue’s
sustainability, the present administration has in the three-and-half years in
power proved a remarkable point; that Nigeria can become a great nation even
without oil revenue but prudent management of the internally-generated
revenues. Through the Treasury Single Account determinedly implemented by
Buhari’s willpower, government agencies now resourcefully account for revenues.
JAMB for example, progressively made astounding returns since this
administration came on board; remitted N7.8bn recently. In 2017, NIMASA
remitted N21.805bn. Nigerian Customs posted N1trillion. Ditto on others. Find
out their remittances before 2015. The results may be awful.
On anti-corruption war, the EFCC recently
recovered roughly N500bn excluding others in foreign currencies against maximum
of N2bn ever recovered during preceding governments. Strategically, immediately
after inauguration of Buhari’s cabinet, federal government moved into action,
forwarded audit reports of 33 government agencies to EFCC over non-remittance
of revenues generated between 2010 and 2015. In fact, Buhari’s first
action-point was audit of all MDAs (ministries, departments and agencies)
before formally appointing his ministers. Kemi Adeosun as the arrowhead excruciatingly
paid her price for spearheading the move as Finance Minister. To pursue it to
logical conclusions, federal government hired KPMG to professionally carry out
forensic audits of revenue remittances to the Federation Account. By these blueprints,
rapidly, civil servants that preceding government resorted to loans for their
wages and pensioners piled arrears are, under Buhari consistently paid as at
when due without stress.
On infrastructural development, from
the number of capital projects; some abandoned now completed or nearing
completion, rehabilitated and newly-awarded roads altogether about 350 spread
across the nation alongside power generation of 7000megawatts from less than
2000megawatts inherited, it is logical that the present government has shown
competence. In effect, these projects indirectly provide employments to many
Nigerians. The mind-blowing policy on agriculture and concomitant incentives to
local farmers to boost productivity is equally a feat that cannot be argued.
Hence, the present government can dependably actualize the massive employment
plans it chants for the next phase.
Suffice to say that Buhari’s
‘Next-Level’ is logically, empirically realistic putting into consideration
these trajectories. As for PDP's ‘Making Nigeria work again’ package, practically,
it is tough to examine the means to achieve them. The axiom is seemingly mere rhetoric
as Nigeria indisputably failed as a nation under PDP’s watch which it admitted.
On the purported restructuring, it is easier said than done. The truth is that
absolute restructuring is impracticable due to progressive developments in the
polity. For instance, some states including Anambra, Osun, Ekiti, and Ondo no
longer run uniform-calendar with federal government. Above all, the 1999
Constitution vests legislative powers of the federation in the National
Assembly and not the Executive, hence, the onus to substantiate the means. As
Soviet statesman, Nikita Khrushchev said, “Politicians are the same all over.
They promise to build bridges even when there are no rivers”. Thus, scrutinize
all campaign promises notwithstanding.
Umegboro
is a public affairs analyst and Associate, Chartered Institute of Arbitrators
(United-Kingdom). 07057101974-SMS-only.
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