Opinion
What Restructuring Entails
Front Page headline news: “Nigeria’s Debt Vulnerable Costly, World Bank Alerts”, was not quite a cheering news in a new year (The Tide, Wednesday, January 5, 2022). We were told that the World Bank disclosed that Nigeria’s debt, which may be considered sustainable for now, is vulnerable and costly. Further concern was expressed about debt servicing disrupting public investment and critical service delivery spending. The Debt Management Office disclosed that Nigeria’s public debt was N38 trillion as of the end of third quarter of 2021. This does not include arrears of salaries, pensions and gratuities of civil servants and retirees.
An average Nigerian would rarely appreciate the long-term implications of these issues and challenges, especially in view of current spending habits, with no inclination to make serious adjustments. A Costa Rican clergyman once said that the attitude and level of productivity of citizens of any country are usually influenced by the lifestyles of the political elite, which in turn also affect the value of the nation’s currency. Therefore, the “vulnerable, costly” implications of Nigeria’s debt profile include the long-term effects on the attitude and productivity of the Nigerian masses. And consequently future economy!
The issue of restructuring Nigeria, like the issues of the nation’s debts and other challenges, are usually treated as if they are not serious issues. Some Nigerians would even equate restructuring with creation of more states, “to balance political imbalances”. It is quite easy to see the hollowness or hypocrisy in the perception of an average Nigerian, whereby serious issues are viewed with levity or dismissed with a wave of the hand. Behind such repudiation lies some fear and apprehension to face the reality boldly. Thus, issues that demand urgent attention are postponed.
Within the context of Nigeria’s current realities and situation, restructuring would entail the following issues: the economy, which is considered to be parasitic and predatory in nature, with fiscal federalism, resource-generation and sharing, subsidies, taxation system etc, featuring as areas that demand serious attention. Like the remediation of the soil of Ogoniland, Nigeria’s political economy had been systematically toxified, such that the masses become the burden bearers of the collective acts of greed of a few clever Nigerians, with the collaboration of some foreigners. Mineral oil and gas provided grounds for the scramble, albeit, an internal or local one.
For example, the issue of subsidies and the need to balance imbalances, affect not only fuel but also include meals, electricity and inexplicable tax waivers for some favoured few. It is understood that a large number of the Nigerian population do not pay electricity bill, but consume a high rate of energy. Among such favoured Nigerians are the personnel of the armed and security forces. With the current commercialisation of electricity generation and distribution, who bears the brunt of electricity subsidy enjoyment?
As for fuel subsidy and the mantra about its removal, has any Nigerian taken the task of finding out how many political office holders consume free fuel, and the volume of fuel involved daily? The same officials who get free fuel also enjoy travel allowances, with hardly a limit set on how far abuses of such privileges can go! Would a country not bleed where millions of naira can be spent daily as subsidies for electricity, fuel, meals, etc? The case of free meals for school children is a scandal!
Apart from the economy, there is gross profligacy in the way that public finances and resources are spent. A high-level public official once said, many years ago, that Chief Obafemi Awolowo was not allowed to become president largely because of his “strict and stingy” attitude towards public finances. Surely, there is an endemic culture of an unmerciful “squandering” of public resources by political and state officials, arising largely from availability of “petro-dollar”. Such abuses and profligate spending are quite many, including budget padding, demand to be blocked. Foreign travels too!
Bloated workforce and ghost-worker syndrome also come under what a restructuring of the Nigerian system should entail. It is quite scandalous and insensitive to the well-being of this nation if records of payroll fraud can be dug out in federal and state public services. It is a pity that the mechanism of this malfeasance is such that the cartel involved constitutes a vicious mafia in the civil service. Neither can a public inquiry achieve any success. A manuscript by a Nigerian author, titled Contractocracy was rejected by publishers because “it was too strong”, the use of “awardee and PPP” raised serious arguments. The author explained that “PPP” meant “political party in power”, which gave publishing companies the ground to reject having the work published, for fear of litigation.
It is not enough to lay a solid foundation to ensure transparency and accountability, but there must be an independent audit structure, so that no individual or institution of state should enjoy immunity from probe. Like a countervailing provision, audit of all functions and state officials should provide no loop-hole for any abuse of position or power. Political office holders, from presidents, governors and members of the National Assembly, no one should be allowed to hide under the cover of power, ethnicity or religion, to get away with any wrong-doing. Neither must any scandals be covered up.
A major issue of widespread concern is that the current system being operated in Nigeria is too lax, such that it breeds impunity and arbitrariness. There should be strong institutions where the law would be no respecter of any individual and where money and power would not provide a shield for anyone. Have public officers not committed impeachable offences? But how many have been impeached? The issue of recovered loots and how they were spent call for serious scrutiny, as well as why the huge revenue spent by Jonathan’s administration in an effort to reposition Nigeria, must be allowed to waste away.
Revenue sharing, whereby population and land mass feature as criteria for allocation of funds, must also be an issue in a restructured Nigeria. To say that current population figures of the country put doubts in the minds of many Nigerians, is to put the matter mildly. Profligate spending of public resources and other forms of mismanagement of the nations’ affairs must not continue. The masses have borne enough of the burdens arising from uninspiring leadership. A restructured Nigeria entails recognition and utilisation of merits of individual Nigerians. No sinecure!
By: Bright Amirize
Dr Amirize is a retired lecturer from the Rivers State University, Port Harcourt.
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