The economic condition of Nigeria for some decades now has raised several questions and mixed feelings on possibilities of recovering the lost glory of the country as economic power house and pride of Africa.
Nigeria was once celebrated by its contemporaries and counterparts across the globe because of her abundant human and natural resources. Unfortunately the country has lost that statues over the years.
Today, many countries see Nigerians as economic burden including Ghana, whose citizens once migrated to Nigeria in search of greener pastures, and were later asked to leave the country by the government when they were allegedly perceived as a threat to the country, giving birth to the popular saying and popularity of the bag, “Ghana must go”.
For over three decades now, Nigerian citizens have continued to lose hope in the country and many are looking for a way of escaping the persistent hardship and sufferings which has engendered the “japa slogan” and syndrome, which is migration to other countries where they believe have better opportunities. The Japa syndrome among its numerous consequences led to massive brain drain in various sectors, especially health.
In spite of the present gloomy outlook of the socio-economic situation of the country, there are still strong pointers that Nigeria can still bounce back if the right decisions are taken and required sacrifices made as the country is highly blessed with a lot of mineral and other resources as well as quality human capital, that if properly harnessed, the nation would become a strong economic force in the globe.
There should be intentional approach towards electoral reforms to entrench stronger political culture that will promote free, fair, and credible elections. This is one of
the major solutions to the problems confronting the country because when elections are manipulated, leadership may sneak into the hands of speculators who have neither plans nor policies to meet the needs and aspirations of the people. An end to all forms of election manipulations and allowing the will of the people to prevail during elections, political power will be handled by political leaders who really have the interest of the people and the country at heart. To achieve this, the electoral bodies and other relevant authorities should shun bribery and corruption, and work in the interest of the country and election tribunals should also carry out their roles objectively, without fear or favour, to ensure that lapses during the elections are corrected so that mandate of the people are protected and respected.
Again, there should be deliberate measures to diversify the Nigerian economy to effectively harness human and material resources in various sectors and reduce over dependency on oil revenue. For Nigeria to achieve economic recovery, challenges confronting local manufacturers should be well addressed because no country survives without strong production base and when a country depends solely on importation of goods from other countries, the economy will continue to struggle.
The Federal government should initiate proactive approach to tackle the problems power to accelerate growth and development in the manufacturing sector and increase production of made in Nigerian products. This will create employment opportunities, reduce economic hardship, poverty, hunger and starvation as well as raise the country’s Gross Domestic Product GDP. There should also be sustained efforts to eliminate persisting challenge of insecurity across the country and create conducive environment for investors.
Similarly, reduction of taxes for manufacturers will reduce cost of production and enable local industrialists and entrepreneurs to compete effectively with their foreign counterparts among others. Meanwhile, the task of restoring the glory of Nigeria as the pride of African continent is not just for leaders or critical stakeholders alone, but for all Nigerians.
Nigerians should strive towards national unity irrespective of tribe, religion or creed. This will reduce present spate of conflicts, instability and promote harmonious co-existence and encourage citizens to contribute towards the rebuilding process.
It is important to remember that “the downfall of a man is not the end of his life”. Nigeria can still regain its glory as the pride and envy of Africa through determination and conscious efforts.
Written by EMMANUEL OKONKWO
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