Opinion
Mr. President Must Read This
My name is Chief O. K. Isokariari, founder O. K. Isokariari & Sons (Nig.) Ltd — a limited liability company registered and published in the Nigeria Gazette of 4th July, 1972 with Registration Number 10313.
I will be 86 years old on November 4, 2021 and now retired. My company is 49 years old as an Engineering, Procurement and Contracting (EPC) firm. I observed with dismay the general accusation levied on the President and the various state Governors by the general public.
It is pathetic to note that these accusations about the nation’s economic woes cannot solve our collective problems; rather, we should engage sound economists and technocrats in the like of late Professor Samuel Aluko, including like-minds from our ivory towers in Nigeria and the Diaspora. They should be invited to form a consortium and sit side-by-side with the National Economic Council with two-year short-term and 10-year long-term mandate to turn the economy around.
The 12 topmost economists so appointed should not be confrontational with Central Bank of Nigeria (CBN) authorities but should work amicably to solve the Nigeria economic woes that are ravaging us now. They should be given Federal Government accommodation with less than 30 minutes drive to the CBN Headquarter, Abuja.
They should be free to meet with the highest CBN authorities including the Governor, at least, once a month to exchange ideas to solve our economic woes. The topmost economists should work for four days a week, Monday to Thursday and use Fridays and Sundays to attend to their religious services meaningfully.
They should have formal secretariat, employ well experienced staff well paid (at least, double of the normal salaries of government staff) and accommodated within the vicinity of the employer to assist them in their daily deliberations to counter the economic problems of Nigeria.
The President and Commander-in- Chief of the Armed Forces, Muhammadu Buhari, should be free to appoint these topmost economists to solve these economic woes of Nigeria. All these economic woes started in the early 1970s when the naira value started cascading to its present alarming state.
I hereby give some practical situations for us to see how much things have changed; O. K. Isokariari & Sons (Nig.) Ltd. has built over 400 (four hundred) houses, bungalows and high-rise buildings, including the nine-floor Nigerian National Petroleum Corporation (NNPC) office complex with its 10th floor penthouse, Moscow Road, Port Harcourt, Rivers State, which was awarded to us at a contract price of N9.5 million (Nine Million, Five Hundred Thousand Naira Only). We have also constructed about 120 kilometers of asphalted roads for the Federal Government of Nigeria, corporate bodies, states and more especially oil companies.
We built the Rivers State Newspaper Corporation (The Tide) office building on Ikwerre Road at a full contract price of N340,000.00 (Three Hundred and Forty Thousand Naira Only). It was one of the biggest contracts in Rivers State as at that time. Buguma General Hospital with nine buildings, comprising of female & male wards with combined thirty beds, a maternity home, mortuary, anti-natal clinic, a dispensary, a theater and sundry facilities which was awarded to us – O. K. Isokariari & Sons Nig. ltd. at a contract value of Two Hundred and Ten Thousand Pounds Sterling in 1972 and the building was commissioned in March 1975.
We built the National Fertilizer Company of Nigeria (NAFCON) awarded to us by M.W. Kellogg, an American company based in Houston Texas, USA, at a contract price of N17,356,326.00 (Seventeen Million, Three Hundred and Fifty-Six Thousand, Three Hundred and Twenty-Six Naira Only) in 1982. By then one naira was equivalent to $1.24 US Dollars.
We built Pan African Bank, Azikiwe Road, Port Harcourt with about N7,000,000.00 (Seven Million Naira Only) and it was commissioned by Governor Milford Okilo in 1983. At that time, I had never heard the word ‘billion’ as many other people never heard. All these you can get in my book, My Mission — an autobiography published on November 8, 2013, registered in British Library, London.
All these buildings now will cost billions, if not trillions, of naira to construct. The plummeting of naira to this present pathetic state – one dollar is now equivalent to about N560.00 (Five Hundred and Sixty Naira). These are the monumental problems to the economic woes we are facing now. The average Nigerian is poorer by six hundred times in this 2021 than in 1982. The best paid staff is from the oil company, yet the present oil company staff are groaning in pains that their salaries cannot pay the school fees of their children including- the CBN’s best paid workers. No government worker, from the highest to the lowest can pay the school fees of their children comfortably anywhere in the federation.
The prices of our commodities in the market are rising unabated. I am appealing to Mr. President to set up these topmost economists permanently to seat with the CBN Governor to stop this suicidal tumbling of the naira.
The growing insecurity in the country has its major route from this biting economy. School children in their hundreds are kidnapped from their dormitories and taken to the bush without food for days until huge ransom is paid to release them. These are organised crimes that are plaguing us. These tragedies are heartbreaking, tormenting and nauseating to every right thinking person in Nigeria. It’s incumbent on us all to find an immediate solution.
The menacing problem of the Almajiris of the North, if not nipped in the bud now, will create intolerable problems in future. Majority of the Alamajiris are now between 20-30 years old. They don’t know their fathers or their mothers and this had made them to join organised crime gangs that are menacing in the North. They act with utmost brutality in committing crime. They should be rehabilitated now!
Let these twelve topmost economists, together with the CBN highest authorities, solve these problems for us.
I know we can, I know we will! (a la late President Ronald Reagan of USA).
By: O. K. Isokariari
Chief Isokariari wrote from Port Harcourt.
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Empowering Youth Through Agriculture
Quote:”While job seeking youths should continuously acquire skills and explore opportunities within their immediate environment as well as in the global space through the use of digital platforms, government, corporate/ multinational organizations or the organised private sector should generate skills and provide the enabling environment for skills acquisition, through adequate funding and resettlement packages that will provide sustainable economic life for beneficiaries”.
The Governor of Rivers State, Sir Siminalayi Fubara, recently urged youths in the Rivers State to take advantage of the vast opportunities available to become employers of labour and contribute meaningfully to the growth and development of the State. Governor Fubara noted that global trends increasingly favour entrepreneurship and innovation, and said that youths in Rivers State must not be left behind in harnessing these opportunities. The Governor, represented by the Secretary to the State Government, Dr Benibo Anabraba, made this known while declaring open the 2026 Job Fair organised by the Rivers State Government in partnership with the Nigeria Employers’ Consultative Association (NECA) in Port Harcourt. The Governor acknowledged the responsibility of government to create jobs for its teeming youth population but noted that it is unrealistic to absorb all job seekers into the civil service.
“As a government, we recognise our duty to provide employment opportunities for our teeming youths. However, we also understand that not all youths can be accommodated within the civil service. This underscores the need to encourage entrepreneurship across diverse sectors and to partner with other stakeholders, including the youths themselves, so they can transition from being job seekers to employers of labour,” he said. It is necessary to State that Governor Fubara has not only stated the obvious but was committed to drive youth entrepreneurship towards their self-reliance and the economic development of the State It is not news that developed economies of the world are skilled driven economies. The private sector also remains the highest employer of labour in private sector driven or capitalist economy though it is also the responsibility of government to create job opportunities for the teeming unemployed youth population in Nigeria which has the highest youth unemployed population in the subSahara Africa.
The lack of job opportunities, caused partly by the Federal Government’s apathy to job creation, the lack of adequate supervision of job opportunities economic programmes, lack of employable skills by many youths in the country have conspired to heighten the attendant challenges of unemployment. The challenges which include, “Japa” syndrome (travelling abroad for greener pastures), that characterises the labour market and poses threat to the nation’s critical sector, especially the health and medical sector; astronomical increase in the crime rate and a loss of interest in education. While job seeking youths should continuously acquire skills and explore opportunities within their immediate environment as well as in the global space through the use of digital platforms, government, corporate/ multinational organizations or the organised private sector should generate skills and provide the enabling environment for skills acquisition, through adequate funding and resettlement packages that will provide sustainable economic life for beneficiaries.
While commending the Rivers State Government led by the People First Governor, Sir Siminilayi Fubara for initiating “various training and capacity-building programmes in areas such as ICT and artificial intelligence, oil and gas, maritime, and the blue economy, among others”, it is note-worthy that the labour market is dynamic and shaped by industry-specific demands, technological advancements, management practices and other emerging factors. So another sector the Federal, State and Local Governments should encourage youths to explore and harness the abounding potentials, in my considered view, is Agriculture. Agriculture remains a veritable solution to hunger, inflation, and food Insecurity that ravages the country. No doubt, the Nigeria’s arable landmass is grossly under-utilised and under-exploited.
In recent times, Nigerians have voiced their concerns about the persistent challenges of hunger, inflation, and the general increase in prices of goods and commodities. These issues not only affect the livelihoods of individuals and families but also pose significant threats to food security and economic stability in the country. The United Nations estimated that more than 25 million people in Nigeria could face food insecurity this year—a 47% increase from the 17 million people already at risk of going hungry, mainly due to ongoing insecurity, protracted conflicts, and rising food prices. An estimated two million children under five are likely to be pushed into acute malnutrition. (Reliefweb ,2023). In response, Nigeria declared a state of emergency on food insecurity, recognizing the urgent need to tackle food shortages, stabilize rising prices, and protect farmers facing violence from armed groups. However, without addressing the insecurity challenges, farmers will continue to struggle to feed their families and boost food production.
In addition, parts of northwest and northeast Nigeria have experienced changes in rainfall patterns making less water available for crop production. These climate change events have resulted in droughts and land degradations; presenting challenges for local communities and leading to significant impact on food security. In light of these daunting challenges, it is imperative to address the intricate interplay between insecurity and agricultural productivity. Nigeria can work toward ensuring food security, reducing poverty, and fostering sustainable economic growth in its vital agricultural sector. In this article, I suggest solutions that could enhance agricultural production and ensure that every state scales its agricultural production to a level where it can cater to 60% of the population.
This is feasible and achievable if government at all levels are intentional driving the development of the agricultural sector which was the major economic mainstay of the Country before the crude oil was struck in commercial quantity and consequently became the nation’s monolithic revenue source. Government should revive the moribund Graduate Farmers Scheme and the Rivers State School-to-Land agricultural programmes to operate concurrently with other skills acquisition and development programmes. There should be a consideration for investment in mechanized farming and arable land allocation. State and local governments should play a pivotal role in promoting mechanized farming and providing arable land for farming in communities. Additionally, allocating arable land enables small holder farmers to expand their operations and contribute to food security at the grassroots level.
Nigeria can unlock the potential of its agricultural sector to address the pressing needs of its population and achieve sustainable development. Policymakers and stakeholders must heed Akande’s recommendations and take decisive action to ensure a food-secure future for all Nigerians.
By: Igbiki Benibo
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