It is a common knowledge that political problems
and bottlenecks are critical factors in determining the future prospects of a polity. Economic issues contribute to them and are in turn influenced by them. .
In the  Nigeria context, the major economic problems range from the exploitation of the masses by the multinational corporations and their capitalistic agents operating in the public, as well as the private sector; the seeming total dependency on the outside world for essential goods and out-let for the export sector which was dominated by crude oil in 1978; the all pervading desire of Nigerians for easy acquisition of wealth without a corresponding readiness to hard work; the extravagance and wrong national approach to national planning.
In analyzing the problems affecting the Nigerian nation, one can categorically state that the more important factor in the use of irrelevant planning models developed in foreign countries that do not have faith in planning, the isolation of the emphasis placed on vague objectives and projects which have not been subjected to the glaring test of detailed feasibility studies, and the obvious absence of theoretical basis for planning and providing for overall consistency have made economic planning totally ineffective and in some cases counter productive.
On the whole, the result of the above analysis indicated that the most pervading defect in the national economy is crude materialism abetted by the sycophantic mentality of those at the vanguard of easy acquisition of wealth, particularly liquid cash.
Indeed, it is these traits that make it possible for Nigerians in high places, both private and public sectors to collude with international bodies to repatriate massive funds through complex accounting manipulations.
This factor led to the establishment of the Nigerian Enterprises Promotion Decree in 1972 and its extension of 1977 not to yield management control to Nigerians, though ownership control was vested in Nigerians, foreigners were invariably allowed to occupy the key decision making positions.
The dependence on foreign countries resulted to inadequate capacity of the nation’s ports to handle our constantly growing volume of internationally traded goods.
This eventually affected the capacity of our factories and even our farms then to meet the requirements of the nation.
In relation to our social, political, and economic phenomena, we found in our leaders the desire for social prestige to induce the people to seek, and seize political power in perpetuity.
The acquisition of political power comes with the power to award contracts and preside over billions of naira to be spent within a financial year or a plan period.
The massive economic influence thus derived, increases the wealth of these political leaders today, who use such resources to acquire cars, air crafts, palaces and large bank accounts just as they are handy to sponsor and buy votes during elections.
Indeed, this attitude of our political leaders give way to lower echelon officials who rush to get their share of the national cake, develop a sycophantic mentality, which encourages the flattery of the boss at the point such a boss should be told, he is going astray.
Nepotism and ethnicity, also play a role in ensuring that only the family, clan and ethnic groups gain at the expense of other groups not advantageously placed in the distribution of government jobs and the allocation of public sector projects.
Frankly, this attitude by our political leaders today generates a spirit of frustration and indifference among those discriminated against.
Ideally, one expects the nation’s intellectuals and academics to condemn these ills, but sadly, majority of senior dons allow themselves to be seduced by the sweets of routine administration devoted to deciding the academic fate of their colleagues, instead of interacting with society to identify its defects and suggest meaningful propagation of practiceable solutions. Though minority of these academics who break free of this neo-colonial strait jacket are in most cases attacked by their employers.
Nigeria at this point in her history is a sorry state because of the wrong attitude and orientation of successive and arrogant political leaders.
With this rather uncomplimentary portrait of Nigerian society today, it behoves one to decide whether the system should continue undisturbed or in the alternative, whether major restructuring is required in line with the dictates of the recently concluded national confab.
Obviously, major changes are required before the quality of life of the vast majority of Nigerians can be improved.
Fuayefika, a public affairs analyst, writes from Port Harcourt.

Tonye Fuayefika