Dr Mietamuno Jaja

Elder (Dr.) Isaac
Mietamuno Jaja is a retired Principal Manager with Central Bank of Nigeria. A financial expert  with professional banking experience spanning over three decades. Chairman Steering Committee on Sensitization Campaign on the Redesigned Nigeria Currency Notes and Coins for Rivers and Bayelsa States in 2007, Administrator,  Central Bank of Nigeria, Uyo, Management and Financial Consultant, Ex – Chairman, Opobo / Nkoro LGA, member, 8th Governing Council, Rivers State University of Education ( now Ignatius Ajuru), Vice President, Life Power Foundation,  Uyo. fellow of several professional bodies, author of many publications and public analyst with passion for good governance. He bared his mind on sundry burning issues in an exclusive interview with The Tide. Execerpts.
As a financial expert, what is your view on the 2016 budget and the economic direction of this government?
Honestly speaking my brother, the economic direction of this government is not very clear to me. I do not know where to start from. I had thought that Mr. President on assumption of office with the change mantra would have  engaged professionals, experts and technocrats from any where including political parties to drive the change mantra and move the economy forward in the overall interest of Nigeria. We need all hands on deck no matter the political divide. It is very important we balance academic economic theories with practical experience.
A glance at the budget clearly  shows that there is no correlation between the budget fundamentals and the economic diversification policy of the government which is aimed at encouraging local production. We hope the National Assembly will correct the deviation.  What is happening in the Capital Market, Foriegn Exchange Market, Value of Naira, sliding oil price and job loss in the economy is worrisome.
Furthermore, the budget to me is not realistic. We need to be realistic by cutting our coat accoding to our cloth. With the oil price budget  benchmark of $38 which has dropped to $30, I do not know how the government intends to fund the deficit of N2 trillion. With the free fall in the price of oil, the deficit is bound to increase. What trilled me about the budget  is the adoption “zero based budget approach”(ZBB). It is a forward looking apporach opposed to the common method of extrapolating past activities and costs. It is  based on cost – benefit analysis which was  popularised by President Jimmy Carter in the 70s.
What is your assessment of President Muhammadu Buhari’s anti – corruption drive?
My brother, in banking generally,  honesty and integrity are the watch words. My background, training and core value  abhor corruption of all shapes in its entirety.The increasing  level of barefaced looting of public funds in the name of politics by our politicians whose only political interest is on wealth without work is worrisome in view of its negative impact on our economy .
As an advocate of good governance and leadership accountability, I wholeheartedly support President Muhammadu Buhari’s  fight against corruption in all its ramifications. My disagreement is  in the area of  implementation process and procedure. I am not convinced that he is going about the anti-corruption war the right way.
I have  strong reservations on the implementation process, which to me has been consumed and highly driven by political sentiment. I  expected implementation process that should promote due process, respect the rule of law and encourage transparency and  democratic ethos. What we saw and read in the media is like pronouncing sentence on the accused before trial. The exercise has been- over politicised and can not lead us to anywhere than destroying our eminent international personalities, weaken investors confidence and demarket Nigeria internationally.  According to Chief Obafemi Awolowo,  “any nation that goes deep into probe – probe business that nation is jeopardising the future of her citizens because it can not get to an end”.
I agree totally with Bishop Matthew Kukah who said,-   “I don’t think any Nigerian is in favour of corruption or is against the President’s commitment to ensuring that we turn a new leaf. I think what we are concerned about is process. It is no longer a military regime and under our existing laws everybody is innocent until proven guilty”.  For me, breaking the law to enforce the law makes the anti-graft war look more like instrument of witch- hunting and vengance. It looks  as if nobody is advising Mr. President correctly.
My dear brother, it is difficult to fight a war you do not understand and win. I had expected government to have taken a comprehensive study of the scope, nature, and enablers of corruption tendencies in Nigeria. This is because most of these corruption cases are system induced. The system creates avoidable gaps that encourage stealing and corruption. No politician can steal without active involvement of career civil servants. This is the reality. Also, a thorough assessment of operational guidelines and procedure of anti-corruption agencies was necessary to reposition them to meet the expectations and aspirations of the current government’s mantra of change of zero tolerance for corruption. Furthermore,  a holistic review, synchronise and strengthen relevant corruption extant laws and processes that may encumber judicial processes was needed for a smooth takeoff.
Finally, Government should have embarked on a nationwide society based value reorientation of Nigerian people through enlightenment/sensitisation programme on the negative implications of corruption in national growth and development to gain masses acceptance and buy-in into the vision of zero tolerance for corruption because corruption should be a Nigerian fight and not that of a single political party.
PMB has ordered the probe of some former Service Chiefs and senior military officers over the procurement of arms and equipment for Nigerian Armed Forces essentially regarding the fight against the Boko Haram insurgency in the North East.  How do you see the President’s latest move?
Look, you can not question Mr. President’s move in this direction. Do not forget that he is a retired General in Nigerian Army and also one time Nigerian  Military Head of State. It is difficult for us to question  his security credentials and competence on issues bordering on Armed Forces. In Nigeria, we read political meaning into every action. You see my brother, at top leadership level, there are certain classified information that is available to them that most of us are not privy to know. I think he should be allowed to do his job. Nigerians are waiting.
Crime and criminality soared before, during and after the 2015 general elections in Rivers State, what could have inspired this untoward phenomenon?
That is not true.  Do you know  I am from Rivers State?  I was here before the general elections and was here during the general elections. I voted in Ward Seven (7), Unit fifteen ( 15 ) in Opobo/Nkoro LGA where election was generally adjudged to be peaceful. I  am still here after the 2015 general elections. So, what are you talking about soared criminality and soared that? I do not know why you should single out Rivers State when you know too well that 2015 general elections’ tension and fever affected every part of Nigeria in almost equal proportion. You can not stop people from campaigning before election, you cannot stop people during the election from exercising their civil right of vote or expressing wishful thinking neither can you stop those who failed from crying wolf. If this is what you mean by criminality, then, you are wrong because it happened nationwide. But if you are referring  to Boko Haram area of North East or the Fulani herdsmen’s criminality along Benue trough you could be right. Certainly not Rivers State.
If you were asked to  address politicians of different political persuasion in Rivers State,  what would you tell them?
Thank you so much for this question. My advice is very simple and direct. Politics you know, is local and is all about people, we cannot claim to be politicians if we fail to do, what the people want us to do. Our politicians should be people centric and statesmanly in their bid  for political relevance. They should eschew bitterness, rancour, and vendetta and close ranks in the interest of the people. It is important to note that  power is transient, it will come and go but the state and bond of brotherhood subsist.
Political venture should ordinarily bring progress and put smiles on the faces of our people rather than curses and untold hardship. The increasing needs of our politicians has become greed. You will agree with me that need can be met but greed can not be fulfilled. I have always insisted on politics of selfless service to humanity believing that political success is not necessarily defined by the amount of wealth accumulated without work but about the differences you make in people’s  lives.
This is not the time for us to  feather our own nests and leave the people hungry and wasted. We should build people and not using people and dump them. According to Einstein, “try not to become a man of success but rather to become a man of value”. We should learn to think Rivers state, act Rivers State and live Rivers State.This remains my advice to politicians.
In your view, how can the youths of Rivers State be properly harnessed to enable them contribute positively to the development of the State?
If you go through the history of political philosophy, you will find out that youths are known to be in the vangard of social development and change. Ironically, this critical group – youths are marginalised in our development process. I am told that building a nation is the hardest task which requires special commitment and team work. We need the combined strength of the youths and the wisdom of the old to function properly. It is time we partner with our youths, engage their idle hands and re-channell their aggresion and restiveness toward meaningful contribution to the growth and development of Rivers State.
We can achieve this through effective massive society based value re-orientation and human capital development programme to redirect and  refocus their mindset towards meaningfuls projects. They are bound to falter, but we should be patient with them knowing that youth is the time to learn, experiment,  stumble, fall and rise again, the time to play sponge and take life’s lesson.
How would you assess the government of Governor Nyesom Ezebunwo Wike in the past eight months?
My brother, let me tell you the truth because as they say, “truth” is the most powerful force on earth and the only thing we can not change. Chief (Barr) Nyesom Ezebunwo Wike’s intervention in the affairs of Rivers State was apt and timely. A time the state was kept under lock and key and its material wealth frittered in favour of strange men at the expense of the people. A time the once peaceful and serene state wore the toga of the most politically volatile in the history of Nigeria and the leadership style was clearly diametrically opposed to the yeanings of the people.
Governor Wike’s emergence was a devine intervention. He restored hope to the hopeless and gave strength to the weak within the short peroid of less than seven months in office. You see in him a man with zeal and zest to serve his people. In spite of pausity of funds, but with leadership vision and creativity,  he took dynamic steps to complete critical infrastructure abandoned by previous government in roads network etc. He promptly paid arrears of several months of salaries owed to civil servants,  pension  arrears,  scholarship arrears and reversed injustice done to the poor and put smiles on the faces of many. Infact, Governor Wike displayed  extreme ability to cultivate humanity and  promote happiness of all and the good of every River man.
Let me tell you, no force can remove Wike as governor of Rivers State except Almighty God. Even if the election is conducted hundred times, he will win hundred times. Do you know why? He has three attributes that please God. They are strong belief in God,  uncommon courage and heart of thanksgiving. Read the accounts of Jehoshaphat,  Joshua and David you will see Wike in them. Thses are three divine weapons Wike will use to demolish APC. Take note.
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How do you assess Buhari’s effort in tackling the Boko Haram insurgency?
Well, I am not a security expert but I will use  a layman’s  assessment to make my opinion.  You see, in Economics, there is a theory that “production is not complete until it reaches the final consumer”. As a common man, I will only be satisfied when  I am told that  President Muhammadu Buhari has ended the challenges of Boko Haram as he promised and 219 adopted Chibok girls returned accordingly. This idea of Boko Haram had been technically and significantly defeated  and yet the fact that people are being killed everyday in the North East does not appeal to me.  In as much as I commend the effort of government and the military,  until we have peaceful North East and return of Chibok girls, it will be difficult to give this government pass mark on insurgency.
What are your view on the stance of the Federal Government  on withdrawal of petroleum subsidy ?
Good question. I read in one of the World Bank’s  reports couple of years ago, that “99% of Nigeria’s  population shares 20% of Nigerian’s  resources while 1% shares 80% of Nigeria resources”  This was thought- provocating particularly when I read IMF’S  Analysis that “40% of fuel subsidies in rich countries go to rich families” This is to say that oil subsidies impoverish the poor and benefit the rich. Perhaps this must have informed the Jonathan administration’s decision to remove oil subsidy. You can see how our income distribution mechanism is deliberately skewed in favour of the rich at the expense of the poor.
Based on this, I support the removal of oil subsidy but with a proviso that Government must ensure equitable and even redistribution of the  economic benefits arising therein which should also be seen to tally with the practical living standard experience of the people.A