Business
‘Policy Failure, Bane Of Nigeria’s Economic Dev’
A management consultant, Obed Nwanwa, has stated that the unfolding realities in recent times have affirmed that the most important reason Nigeria is still struggling to deliver on the demand of human/capital development, is policy failure.
Nwanwa who made the remark in an interview with The Tide in his office in Port Harcourt on Thursday, said policy failures can occur at two different levels. The levels of formulation and implementation.
“Ideally a policy must first be good as a correct statement on the problems on the ground and their solutions, also the policy must be properly implemented to achieve the set goals,” he opined.
Nwanwa who is the Managing Director of Onwa Consult, noted that in Nigeria, it is taken for granted that the end of every public policy is to advance the common good as articulated through the process of popular participation in political governance, but pointed out that it is only when a policy meets the foregoing criteria that we have policy integrity.
He lamented that the crash-landing of our industrialization policies has been one of the tragedies of Nigeria’s post independence history, saying that the fundamental causes are leadership and management failure, resulting in underperformance and under delivery.
According to him, “to thrive, industries required stable policy, predictable economic, fiscal and financial regime, because their planning horizon is long-term and returns trickle in over long periods. Industries in Nigeria are not fly-by-night businesses, neither are investors portmanteau businessmen and that decision making in the sector is rational, logical, based on facts and figures and not on sentiments,” he added.
Business
NCAA Certifies Elin Group Aircraft Maintenance

Business
SMEDAN, CAC Move To Ease Business Registration, Target 250,000 MSMEs

Business
Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
-
Rivers6 hours ago
FTAN Gets New State Coordinator … To Push For Tourism
-
News5 hours ago
NDLEA arrests two drug kingpins in Lagos, seizes cocaine, heroine
-
Sports6 hours ago
Group lauds Foundation’s contribution to football, youth dev.
-
Education6 hours ago
Lga boss tasks corp members on diligent service to fatherland
-
Politics6 hours ago
New PDP Leaders Emerge In Adamawa After Congress
-
Sports5 hours ago
Forest Still Looking For Winning Formula
-
online games2 days ago
The Power of Advanced Historical Data and Live Metrics for Football Analytics
-
Rivers6 hours ago
Democratic Rule Return Sparks Renewed Debate In Rivers