Since her political independence in 1960, Nigeria has been battling with economic emancipation. At independence, the country’s economy was dependent on agriculture as a main stay. At that time, the economy was decentralized with each of the three regions and later four concentrating on the production of farm produce in areas where they had comparative advantage. And the nation was economically healthy enough to have her currency being at par with the British pounds.
Even after the change of the currency from pounds sterling to Naira in 1973, her medium of exchange still remained stronger than the American dollar in the exchange market while it was at par with the British pounds.
Northern Nigeria was known for the production of export produce such as cotton, ground nut and Hides and skin. The west contributed to the growth of the economy through the production of cocoa in commercial quantity while the Eastern region relied on Palm produce to be nationally relevant. The Midwest on her part, supported the country with Timber and rubber.
To say the least, regional governance was competitive. Leaders such as Chief Obafemi Awolowo in the west, Sir Ahmadu Bello in the North, Chief Michael Okpara in the East and Chief Dennis Osadebe in Midwest governed their people with humility. Corruption was almost non-existent.
However, the oil boom of the 1970s brought with it corruption and lack of will power to foster relationship with it in order to brighten the nation’s economic future. Many rural dwellers began their exodus into major cities in search of non-existent white-collar jobs.
Meanwhile, with abandonment of the agricultural sector coupled with the dwindling oil prices and currency exchange rate fluctuation, Nigeria slipped into a state of economic dinosaur. Since then, economic recovery has remained elusive.
Indeed, a glossary look at the nation’s economic woes tends to suggest that she must take responsibility for the sufferings of Nigerians. John Mason once said; “people are funny. They spend the money they don’t have to acquire things they don’t need in order to please people who don’t like them”. Nigeria is an example of a corporate personality that has over the years been embarking on deceitful projects that have led her to a state of financial hopelessness.
To begin with, in 1978, the Obasanjo-led federal government introduced the country to the American system of democracy – the presidential system. The United States and many parts of the world applauded OBJ and his team for that. Many Nigerians, especially lawyers were sent to US to understudy the system of government at huge costs to government. But many years down the line, events have continued to prove that emulating America has been a monumental waste.
Apart from the expensive nature of the system, the abysmal performance of the nation’s federal law making bodies have proved that the country is merely spending money she does not have to service unproductive democratic ventures.
When Bill Clinton, a former president of America was accused of an amorous affair with a lady, the country’s national assembly (Senate and House of Representatives) waded into the matter. They subjected the American leader to an investigation. He momentarily stepped aside. The lower chamber found him guilty and impeached him accordingly on the 19th of December, 1999. The impeachment was upturned by the senate which viewed the same matter differently on the 12th of February, 1999. This was the saving grace that kept Bill Clinton in office to the end of his second and final tenure. In order words, even the two chambers perform checks and balances on themselves before checking on the executive and judiciary.
In the case of Nigeria, a senator, Natasha Akpoti-Uduaghan made serious allegations of sexual harassment against the senate president, Chief Godswill Akpabio. Instead of stepping aside like the Americans would, Akpabio constituted a committee to try the senator. He indirectly presided over the investigation and suspended Senator Akpoti-Uduaghan from office for six months despite a court injuction to the contrary. This is an anathema!
Till date, the only contribution from the House of Representatives on this embarrassing national issue was a suggestion for amendment of the procedure for suspending NASS members from office.
Secondly, as Nigeria began to take a shameful position on the corruption index table in the world, the federal government responded to the challenge with the formation of two anti-corruption outfits – the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Related Offences Commission, ICPC.
The government established these bodies instead of strengthening the Nigeria Police with necessary tools to combat the scourge. Unfolding events so far have proved that these organisations are yet to achieve the desired results expected from Nigerians. Since the formation of the Nigeria police in the 1950s, only one Inspector-General of Police, Tafa Balogun has been dismissed on account of corruption. On the contrary, within less than 30 years of establishment, not less than two EFCC bosses have been relieved of their duties after failing financial integrity tests.
In a null shell, Nigeria must cut down on her deceitful expenditures if the country must overcome her economic woes.
The National assembly’s two arms must be reduced from two to one chamber. The senate or House of Representatives should give way for one in order to reduce the pretentious cost of governance. After all, there are many nations of the world that do not operate on written constitution and they are doing very well in governance.
