By Abba Dukawa, Kano.
Officially Nigeria has entered its second recession in five years as official figures published on Saturday show that the economy shrank again in the third quarter of this year. The National Bureau of Statistics, in its Gross Domestic Product report for Q3, said the GDP, the broadest measure of economic prosperity, fell by 3.62 in the three months to September.
Last month, the World Bank revised its 2020 forecast for Nigeria’s economy to 4.1 per cent from its previous projection of -3.2 per cent, saying the country’s near-term outlook was subject to “considerable uncertainty”. The Global bank had said in June that the collapse in crude oil prices, was expected to “plunge the Nigerian economy into a severe recession, the worst since the 1980s coupled with the Covid-19 pandemic.
Unfortunately within five years Nigeria experience two recessions this resulted due to provocative policies of the previous and present administration over dependence on oil resources as a source of foreign exchange earnings to the detriment of agriculture.
Covid 19 has puts global economics in uncertainty again, Nigeria’s economy is being caught in the cross-hairs. The recession could have been avoided if administration diversifying the economy as government to formulate policey toward developing the country untapped mineral.
Now Nigeria at the second recession, above all, Nigeria must stop borrowing for anything and avoid, borrowing to pay salaries.
Now is not the time to trade blames but to focus on ways to manage the situation and called on Buhari’s government to “swallow its pride, and accept its limitations, so that they can open their minds to ideas, without caring who the messenger is. Let the executive and legislative arms expunged non conventional allowances, estacodes, welfare packages, and new vehicle purchases from the proposed 2021 budget.
Despite the country is blessed with untapped mineral resources and there is no state in Nigeria with less than two untapped different mineral resources. Absolutely lack of foresight from our leaders for not save as much as possible especially when the crude oil price reached its peak. Had been the administration instilled disciplined and prudent management of our Commonwealth. The recession could have been avoided if administration had cut down on the cost of governance during first recession, listened to nation’s economist and other concerns Nigerians advise.
Kano Kaduna And Abuja Roads Abuja – MD of Julius Berger, Engr Lars Richer revealed that Kaduna -. Zaria will be completed in the fourth quarter of 2022, Zaria-Kano first quarter of 2023 while Abuja-Kaduna will be delivered 2025,
–
Who did we offend? Don’t says our northern peoples in the administration are bewitched? Stop blaming @tundefashola for deliberately sabotaging any project cited in the North but keep concentrating on southern roads. Who appointed him Good North have learn bitter lesson for voting on sectionalism.
Let Baba Buhari consider that Northern votes secured PMB’s administration first and second term, and northerners will raise voices in their demands that the administration, this time, rewards their loyalty in real terms. So now we know. Abuja-Kaduna-Zaria-Kano highway reconstruction will not be completed in the next three years.Kidnappers and bandits will also hear this. This is the most important route in the North.If you doubted that our peoples in the government do not care about the North, stop doubting.
Lack of clear economic policies and weak institutions to blockages mismanagement and Corruption which still subsists as one of the greatest challenges facing Nigeria with .
When President Muhammadu Buhari assume office in May 29, 2015, left no one in doubt as his mission to fight corruption to a standstill. President Muhammadu Buhari on Friday received the final report of the Justice Ayo Salami-led probe panel on alleged infractions by the suspended Acting Chairman of Economic and Financial Crimes Commission (EFCC), Magu was allegedly accused of corruption, mismanagement, lack of transparency in managing recovered assets by the Commission as well as abuse of office by the Attorney-General of the Federation and Minister of Justice, Abubakar Malami.
Almost 6 years the record presented by global body Transparency International on the country’s perceived corruption outlook. From 2015 till date Transparency International’s Corruption Perception Index (CPI) still gave Nigeria a low ranking oout of 180 countries surveyed. The reports are is a reflection of neither improvement nor retrogression to that of year after year where marginal improvement was recorded. This, therefore, elicits curiosity on what the missing link is between the efforts of the government against the graft and public what the perception is.
At the same time he received the report another heart breaking investigation reports published by online medium Premium Times revealed how Fashola’s ministry illegally paid ₦4.6BN into officials‘ personal accounts. It is clear violation of extant law. Payment of payments of monies into private account is clearly violates chapter 7, section 701 of the financial regulation of the country. Section 713 of the same chapter also says under no condition should personal money be paid into the government’s bank account “nor shall any public money be paid into a private bank account. Even though Ministries and Agencies are compelled by the provision “to operate only three bank accounts as follows: salary account, overhead cost account and revenue account” as “no other bank account shall be allowed without the express approval of the Accountant-General.
It was under the watchful of our once fearful General Muhammadu Buhari the level of corruption in Nigeria has reached a height whereby it can only be curbed when these agencies rise up to the occasion to prosecute offenders irrespective of their political affiliations. Henceforth fighting corruption proved too difficult for the administration to achieve. Therefore Nigerians are alienated, angry and fed up but in real sense the corruption is fighting back as there is not much pointer supporting the administration efforts in its fight. Unfortunately, the anti-corruption agencies are more like toothless dogs that can only bark but cannot bite
Really the impressions of if Buhari catch of any wrongdoing you will face wright of the law is no longer scare anybody as the business goes as usual.
Dukawa, Kano-based journalist and Public Affairs commentator. Can be reached at abbahydukawa@gmail.com
