Following the grim economic data released by the National Bureau of Statistics (NBS) confirming Nigeria’s slide into recession, rising inflation, unemployment and plummeting foreign capital importation, President Muhammadu Buhari recently urged Nigerians to be patient with his administration, assuring them that the pains they are currently going through would soon give way to development.
Nigerians and indeed, Edo people need to trust President Buhari as he is doing everything within his powers to get the nation out of the woods it was pushed into by the wasteful 16 years of the Peoples Democratic Party hold on power. There is no doubt that the economic measures introduced by the present administration are biting everyone today, but the government is on the track to putting the economy back on the way to prosperity as many jobs would be created soon.
Clearly, there is a silver lining in the horizon. Only last week, government took the bold step of injecting N700billion into some critical sectors of the economy to catalyse growth and foster massive development.
To the chagrin of PDP detractors, the federal government announced the release of a staggering N700 billion for capital projects to reflate the economy, coming barely a day after holding an anti-recession retreat for government stakeholders in Abuja, The monies are said to be meant for capital projects in key sectors of the economy such as power, works and housing, interior, transport, agriculture and defence. Another N350 billion was released at the end of the cash planning meeting last Friday to enter into the accounts of the various ministries, departments and agencies (MDAs).
Also, there is fresh ray of hope for all the Local Governments across the country as President Buhari is set to tackle state governors to rescue local governments from their grips. Some N60 billion would be released for social intervention programmes, including school feeding programme and teachers’ assistants scheme designed to put money into the pockets of Nigerians,. The federal government is also funding the rehabilitation of abandoned airport projects across the country. Significant funding is going into agriculture, because of the time sensitivity of the sector. Government is equally intervening to ensure massive food production was restored to bring down rising food prices. A lot of money has gone in for defence, as the nation needed to rebuild and retool the capabilities of the armed forces to continue with the efforts to combat and finally defeat Boko Haram insurgency in the North East part of the country. The Federal Government is also working with the Bureau for Public Procurement (BPP) to fast track the process of contracts so the delays could be removed, so that monies could trickle down into the pockets of Nigerians.
Very clearly, government is determined to take Nigerians out of recession as quickly as possible. Also interesting is the fact that monies recovered from corrupt PDP government officials are being ploughed into these processes to get the country out of the quagmire and doldrums the PDP pushed it into.
Nigerians must not forget in a hurry that the Goodluck Jonathan’s administration announced austerity measures few months to the end of his administration by which time, they have finished the country through massive looting of public funds and misappropriation of Nigerians’ money. This was the mess inherited by the Muhammadu Buhari -led APC government which he has been battling to re-fix since coming on board last year. He has been taking his time as much as possible so as not to fall into PDP political land mines and pitfalls. Then Minister of Finance and the Co-ordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, who announced the austerity measures said it will see Nigerians paying tax on what they term ‘luxury’ goods. So, much of the taxes being paid by Nigerians today were actually introduced by the PDP government.
The fall in the Naira against the dollar didn’t also start now. It started with the Jonathan’s austerity measures. The official exchange rate fell from N120 to the dollar to N178 in less than one week. It even climbed to 200 Naira to the dollar at some point. But the good news is that the Buhari government is putting in place sustainable economic measure that would stand the test of time long after he would have left office.
His administration is genuinely working hard to avoid the mistakes of the last administration in tackling insecurity and corruption and to revamp the economy, which has been badly affected by the drop in the price of crude oil in the international market. It is important that Nigerians understand the fact that for us to have omelets, we must crack eggs. For us to move to the next level, there must be pains- No pains, no gains. The understanding of Nigerians is required at this critical stage of our democracy.
As we have learnt from history, change has never been attained by any nation on a bed of roses, but rather through patience, perseverance and steadfastness. The APC government is quite aware of the pains and inconveniences that have been the lot of the citizenry in the past one year but government is committed to faithfully implement its promised programmes in fulfillment of the APC change agenda.
As we proceed to elect a new governor in Edo State, it has been observed that the PDP have been capitalising on the temporary recession to misinform Edo people to deceive them into voting for the party that foisted the mess on the nation through its profligate spending for 16 years. Let it be made known and clear that all the negative messages oozing out from the PDP regarding the current recession remains the party’s insensitive plot to deflect attention from the voodoo economics and reckless fiscal policies the country was subjected to during its 16-year rule.
It is important to emphasise that the PDP lacks the moral basis and credibility to comment or condemn the APC-led government on the economy after the mess it left behind. Instead, the PDP should apologise to Nigerians for destroying the economy and the future of our youths which now have a huge unacceptable army of unemployed roaming the streets for jobs that are not there. But they must keep hope alive as the APC will address their plight very soon.
As Edo people go to the polls next Wednesday, they must not be fooled by the PDP’s antics on the economy. They must trust the APC to deliver its electoral promises and refuse to be taken back to Egypt. A vote for the APC next Wednesday will help make all the difference for Edo people and help consolidate on the gains recorded by the Oshiomhole’s administration.
• Mr. Dan Owegie is a chieftain of the All Progressives Congress (APC), Edo State.
