Nigeria @ 62: Corruption, Insecurity Bane Of Nation’s Economy-Stakeholders

Nigerians from different spheres of life in the South-East have blamed the parlous state of the nation’s economy on corruption and insecurity.
The people spoke in separate interviews by The Tide’s source to evaluate how the economy has fared as the country marks its 62nd independence anniversary.
An economist in Abakaliki, Mrs Joy Ekwe, expressed worry that corruption had become deep rooted in the country since it gained independence on October 1, 1960.
She lamented that it had “eaten up the fabrics of our national life”, while integrity no longer counts.
According to her, “corruption has elevated mediocrity above merit and competence, while godfatherism, nepotism and favouritism have become the order of the day”.
She said the development had discouraged hardwork, with far more negative implication on the country’s economic development.
Ekwe also spoke on the impact of insecurity on the economy and urged government at all levels to deepen the fight against the phenomenon.
She said winning the war against insecurity would put the country back on the path of sustainable economic growth and food sufficiency.
“If we must achieve food security, briefcase farmers should not be allowed to manage the distribution of farm inputs,” Ekwe said.
An Abakaliki-based legal practitioner, Mr Chibuzor Onwe, said the widespread terrorism and banditry had made the country unsafe for foreign investors.
“Insecurity has drastically slowed down socio-economic development of the county,” he said.
“The nation has come of age, 62 years is not a joke. It is high time Nigerians collectively fought corruption to a standstill and uphold the principle of honesty and integrity as a way of life”, he said.
On his part, a political analyst, Mr George Nworie, urged the Federal and State Governments as well as the citizenry to embrace the spirit of doing the right thing at the right time in order to return the country to the path of sustainable growth and development.
The Chairman of the Nigeria Labour Congress in Enugu State, Mr Virginus Nwobodo, said development in post-independent Nigeria had been very slow and uninspiring.
“Our development as a nation has been sluggish. When I say sluggish, I mean that the pace is below the expectations of Nigerians.
“Looking at our democracy over the years, one cannot say that we are practicing true democracy because the gap between the leaders and the led is still very wide.
“Class consciousness still exists and our leaders are not committed to addressing the country’s infrastructure deficit,” Nwobodo said.

He said that the colonial administration provided public utilities like roads, housing and other amenities that made life easier for the people, “but that’s not the case today.

“In those days, once you are employed, there is official quarters ready for you. But today, Nigerians are still grappling with infrastructure deficit at all levels,” he said.

The labour leader said that under the colonial system, successive administrations improved on the performance of their predecessors, with a strong policy for continuity in governance.

“Today, every administration wants to initiate its own project and abandon what the previous government initiated but could not complete.

“That is why we have a lot of abandoned projects nationwide, some of which are very important projects,” Nwobodo said.

In Abia, a business coach, Mr Godson Adiele, said that the economy was strong and prosperous immediately after the country gained independence due to the prevailing government policies.

Adiele said that the economic policies supported productivity, competitive growth along regional line and job creation in the country.

With the emergence of new governments, he said, the economy began to nosedive due to poor policy implementation and ever-changing economic policies.

He advocated for effective implemention of policies that encourage diversification of the economy, support production, increased patronage of local products and eliminate multiple taxation.

He said that government at all levels should initiate policies that promote the ease of doing business in order to encourage investment and enable small businesses to thrive.

“Our passion for foreign products over the years has helped to deplete our economy.

“Nigerians must understand that the one you patronise you empower and we have built other economies to the detriment of ours.

“Nigerians now transact their businesses at home in dollars, which is not our legal tender.

“Unfortunately, this has resulted in the decrease in the purchasing power of the naira,” Adiele said.