2019 Presidency: Salient Issues Before Pitching A Tent By Carl Umegboro

INDISPUTABLY, the die is cast between the ruling party, All
Progressives Congress (APC) and the oppositions for the control of
power particularly the central government as this tenure wraps
up.

However, the titanic battle will likely be between APC and the
major opposition, Peoples’ Democratic Party (PDP) on account of its
widespread, viable and visible structures across the nation as a
former ruling party. As usual, masses are inundated with campaign
promises. Whilst the APC candidate, President Muhammadu Buhari
presented a ‘Next Level’ package to the people, his PDP
counterpart, former Vice President, Atiku Abubakar offered ‘Making
Nigeria work again’ bundle.

The third major contender in terms of structures is the Social
Democratic Party (SDP) with Donald Duke as its candidate.
Incidentally, there are no visible actions from the quarters at the
moment. Duke stands between the older and younger generation and
obviously, would have been the ideal candidate by his experience,
age and alluring look, had the economy been systematically,
productively set in motion and running effectively before now.
Unfortunately, the job and situation of the country presently
exceptionally requires political-will for solid foundation;
indispensable for significant attainments. The willpower to
undertake critical tasks irrespective of whose ox is gored is a
sine qua non to luxuriant growth of the economy. Hence, at
this critical stage, the nation requires more of value than
glamour.

As for the two giant forces, their scorecards are
straightforward. A holistic examination showed that from 2010 to
2014, average price of crude oil was $99.29/barrel as against
$53.24/barrel it sold from 2015 the present administration came to
power. In fact, at a point during Chief Olusegun Obasanjo’s
administration, it climaxed to a whooping $145/barrel. During
Buhari’s first year in office, it plummeted to as low as
$28/barrel. Meanwhile, the OPEC benchmark was $45/barrel. It
implies that any transaction above the benchmark is a marginal
profit while below; a deficit. And where a nation solely depended
on the commodity as Nigeria then; invariably, an economic
recession. In other words, crude oil boomed during PDP
administrations unlike in the present APC regime, and would have
substantially, realistically advanced the nation if judiciously
managed.

Factually, during the period under examination, despite the fact
crude-oil brought huge wealth to the treasury, corruption impeded
its impact. Whilst Goodluck Jonathan’s government secured $29.6bn
in the nation’s Foreign Reserve, Buhari’s government despite global
crash in crude-oil price safeguarded $42.3bn. On Sovereign Wealth
Fund, PDP government deposited only $1bn while APC government
amidst economic recession recorded $1.5bn. Logically, Buhari
achieved more even with less oil revenues. Ineffably, the nation
witnessed colossal figures of abandoned projects despite oil boom
under PDP. Then, party chieftains with unrelated skills would
arbitrarily bid and hijack contracts but ended up reselling to
third-party contractors after initial payment. The moment the new
contractors received their rations from upcoming budgets, they
follow suit, abandon it and abscond under the ‘national-cake’
syndrome. Still, the projects will keep reflecting in
‘padded-and-unpadded’ budgets for many years.

Beyond the crude-oil revenue’s sustainability, the present
administration has in the three-and-half years in power proved a
remarkable point; that Nigeria can become a great nation even
without oil revenue but prudent management of the
internally-generated revenues. Through the Treasury Single Account
determinedly implemented by Buhari’s willpower, government agencies
now resourcefully account for revenues. JAMB for example,
progressively made astounding returns since this administration
came on board; remitted N7.8bn recently. In 2017, NIMASA remitted
N21.805bn. Nigerian Customs posted N1trillion. Ditto on others.
Find out their remittances before 2015. The results may be
awful.

On anti-corruption war, the EFCC recently recovered roughly
N500bn excluding others in foreign currencies against maximum of
N2bn ever recovered during preceding governments. Strategically,
immediately after inauguration of Buhari’s cabinet, federal
government moved into action, forwarded audit reports of 33
government agencies to EFCC over non-remittance of revenues
generated between 2010 and 2015. In fact, Buhari’s first
action-point was audit of all MDAs (ministries, departments and
agencies) before formally appointing his ministers. Kemi Adeosun as
the arrowhead excruciatingly paid her price for spearheading the
move as Finance Minister. To pursue it to logical conclusions,
federal government hired KPMG to professionally carry out forensic
audits of revenue remittances to the Federation Account. By these
blueprints, rapidly, civil servants that preceding government
resorted to loans for their wages and pensioners piled arrears are,
under Buhari consistently paid as at when due without stress.

On infrastructural development, from the number of capital
projects; some abandoned now completed or nearing completion,
rehabilitated and newly-awarded roads altogether about 350 spread
across the nation alongside power generation of 7000megawatts from
less than 2000megawatts inherited, it is logical that the present
government has shown competence. In effect, these projects
indirectly provide employments to many Nigerians. The mind-blowing
policy on agriculture and concomitant incentives to local farmers
to boost productivity is equally a feat that cannot be argued.
Hence, the present government can dependably actualize the massive
employment plans it chants for the next phase.

Suffice to say that Buhari’s ‘Next-Level’ is logically,
empirically realistic putting into consideration these
trajectories. As for PDP’s ‘Making Nigeria work again’ package,
practically, it is tough to examine the means to achieve them. The
axiom is seemingly mere rhetoric as Nigeria indisputably failed as
a nation under PDP’s watch which it admitted. On the purported
restructuring, it is easier said than done. The truth is that
absolute restructuring is impracticable due to progressive
developments in the polity. For instance, some states including
Anambra, Osun, Ekiti, and Ondo no longer run uniform-calendar with
federal government. Above all, the 1999 Constitution vests
legislative powers of the federation in the National Assembly and
not the Executive, hence, the onus to substantiate the means. As
Soviet statesman, Nikita Khrushchev said, “Politicians are the same
all over. They promise to build bridges even when there are no
rivers”. Thus, scrutinize all campaign promises
notwithstanding.

Umegboro is a public affairs analyst and
Associate, Chartered Institute of Arbitrators (United-Kingdom).
07057101974-SMS-only.

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