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Home arrow All sections arrow Editorial arrow Vision 2020
Vision 2020 Print E-mail
Tuesday, 29 April 2008

Here we go again. Last Monday, we took another giant step in our national pastime of running around in circles in our quest for development. On behalf of President Umar Musa Yar’Adua, Vice-President Goodluck Jonathan inaugurated the National Council and National Steering Committee of the Yar’Adua administration’s Vision 2020.

With the exception of the short-lived Ernest Shonekan and General Abdulsalami Abubakar’s administrations, every government in the past 23 years since that of Ibrahim Babangida in 1985, has tried to engage in some kind of grand visioning and strategising for development for Nigeria.

Each of the governments has also done the following in varying degree: set up a constitution review committee, probe the preceding administration and revoke or review some of the contracts it had entered into, jettison some of the policies or policy planks of the government it has succeeded and witch -hunt some of the leading lights of the previous government. This is largely what has gone on in the name of governance in our country in the past nearly a quarter of a century. And this accounts for why in some sectors of our national life we are worse off today than we were in 1960 when we gained independence.

In a word, we have been running in circles. And if we sound cynical about Vision 20020 it is because we have traveled this visioning road several times now and it has not taken us any where. Our sights seem to have been blurred by the multiple visions we have been made to have.

There is no doubt about it that every nation needs to have a plan or vision about where it wants to go to and what it has to do to be able to arrive at that destination. It is clear however that we have not been able to get anywhere because of lack of continuity with the laudable policies, programmes and projects of preceding administration. Each government thinks it should re-invent the wheel. Take for instance this visioning thing. There is a broad agreement among the political and business elite who understand such matters that the late General Sani Abacha may have been a dictator but that the Vision 2010 which his government sponsored has many good ideas which if implemented with vigour and patriotic zeal, can take Nigeria somewhere.

It is doubtful if the Obasanjo administration, which more or less succeeded the Abacha’s, took any look at the Vision 2010 documents before it came up with National Economic Empowerment and Development Strategy (NEEDS) and it is doubtful if this government has had a cursory look at them before it has come out with the idea of another visioning committee.

It is sad that the serious task of planning for the growth and development of a nation with so much promise like Nigeria has become something of an ego project for those who preside over the destiny of the nation. It has also become something of providing jobs for the loyal and favoured boys of the man in power.

This administration has spoken about its desire to bring back the National Development Plan strategy that was jettisoned by the Rolling Plan idea of the Babangida Structural Adjustment Programme of the 80s. What, if we may ask, is the difference between this development plan idea and the Vision 20020 project whose committee was set in motion last Monday? What, if we can ask further, is the difference or relationship between Yar’Adua’s much touted Seven-Point Agenda and the vision to come?

From what we can see, we engage in perpetual visioning because our governing elite either lack the capacity or the patriotism or both to arrive at a broad consensus about the urgent things that need to be done and how to galvanise the broad masses of the citizens to engage in nation building.


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1. 02-05-2008 01:27
 
NIGERIA'S STRATEGIC PLAN: POWERHOUSE BY
NIGERIA'S STRATEGIC PLAN: 
STEPS TO ECONOMIC POWERHOUSE BY THE YEAR 2020 
The vision of transforming Nigeria’s economy by 2020 must be strategically framed, rooted in sound macroeconomics fundamentals and elucidated legal framework to accomplish the targeted goal. Nigeria has come of age, and is now determined to expand her economic frontiers and to invest in the populace. The targeted year 2020 is the year Nigeria proclaims that she will make the list of one of the greatest/best twenty economies in the world. 
During the inauguration of the President Yar'Adua, he echoed that Nigeria was ready to emerge from shambles of corruption and hyper-mismanagement to take her rightful place in the comity of nations. Nigeria must move forward to build a prosperous and giant economy. There must be shift in economic paradigm. Nigeria has so far achieved quantitative macroeconomic fundamentals, but a lot needs to be done . 
Emeka Chiakwelu, Afripol organization’s Director/Chief policy strategist has offered strategic steps to be taken by Nigeria to realize her vision of making club of the world’s 20 biggest economies by the year 2020. (An abridged version of the paper he delivered on United Nations Day in United States of America). 
 
1. Stabilization and convertibility of Naira: Nigeria must have a stable currency, or her pursuit of a powerhouse in the global economy will be a mirage. Although Naira currency is relatively stable, it is weak and soft when you compare it to other major currencies like dollar and euro. Presently Nigeria is having one of the lowest debts to GDP ratio in the world. This is attributed to her recent payment of foreign debts and the reasonably macro-economic stability she achieved through economic reform measures. Nigeria does not need a volatile economy with unstable exchange rates for that will precipitate low investment. Though high unemployment and low per capita income presently bedevil the economy, her economic indicators look bright. 
The postponed Naira re-denomination must be revisited and carefully implemented, for this will make the convertibility of Naira readily. The convertibility of any currency remains basic to foreign exchange transaction. 
 
2. Tax Reforms: Taxes are very important to be left in the hands of politicians. Seasoned bureaucrats and financial experts must be used to setup sensible tax codes that are business friendly which encourages economic development, especially in the attraction of foreign investors. Government must look into lowering tariffs to encourage inter-African business partners. 
Tax codes must be made to encourage job creations and businesses. Favourable tax breaks must be given to companies and businesses to stimulate economic development. A modest progressive taxation must be reintroduced and effectively implemented, the idea is to encourage taxpayers to be stakeholders in the affairs of government. By paying taxes, citizens’ empowerment is established. Citizens will then carry out oversight function by monitoring how their taxes are spent. 
 
3. Prudent management of foreign reserve: Nigeria’s foreign reserve is hovering between (50-54) billion dollars and such fund must not be allowed to lay dormant in the foreign holding. A reasonable portion of the reserve can be invested in a foreign market, to yield an appreciating return. Nigeria can learn from Dubai and other Persian Gulf oil countries that have invested in the western economies especially in the American Real estate and fiduciary bonds. Government should assemble a committee of experts to manage the reserve and invest some of the money in stable market overseas. 
 
4. Diversification of the economy: Nigeria has become responsive to the diversification of her economy, not minding she has a long way to go. The country knows what to do, but procrastination has always retarded her progress. Oil cannot continue to be her only high yielding sector, agriculture must be expanded and retooled. Investment must be made in research and development. 
 
5. Nigeria’s Image Management: Nigerian policy and decision makers have not certainly explored the power of image making. The image of a nation both abstract and aesthetic speaks a volume of the nation. Nigeria must be able to tell the world that she is ripe for investment and tourism without obstruction. No foreign institutions or countries can tell the world about Nigeria more than Nigerians could do. Even if Nigeria rent CNN, BBC, and New York Times, the primary and fundamental responsibility of dissemination of news about Nigeria resides in the hands of Nigeria. The country must have her own international mouthpiece to tell her stories to the world, especially to the intended investors and the tourists. Nigeria cannot afford to leave her destiny and future in the hands of foreign media networks that see her as their fellow competitors. Nigeria cannot afford to be NAIVE and NONCHALANT in the era of ruthless, back-stabbing and cut-throat business world. 
 
6. Solid social amenities: Social amenities must be present so that she can make headway in industrialization and information technology. Energy conservation and availability are central to modern development. Basic infrastructures are the key to sustainable development. Constant supply of electricity is the key to development. 
 
7. Reform and Secured Property Rights: Citizens must be able to utilize their properties to create further wealth and this can be possible when rights of ownership are enshrined and guaranteed in the law. Therefore, securing property rights will serve as catalyst for economic prosperity. 
 
8. Commitment to Democratic capitalism: Nobody is saying that democracy and capitalism have no imperfections, but time and experience have shown that they work and boost stability in any given country. The major defects of capitalism - unemployment and inflation can be controlled through sound fiscal and monetary policies. As for democracy, it is the best for Nigeria because of her rich diversity. Independence of Judiciary must be encouraged to the highest order, because it protects and strengthens democracy. Again genuine electoral reforms must be pursued and encouraged to make the electoral body independent, stamp out lawlessness, intimidation and rigging. So that free and fair elections will be guaranteed. A representative government enables every group to participate effectively in the political landscape. 
Government must encourage and promote free enterprise. Government must also be alive in performing their responsibilities. These include the protection of lives and properties. They should avoid tinkering with the economy, and should allow the forces of capitalism (demand and supply) to be the dominant economic determinant. While Nigerians must be pragmatic in areas of foreign trade especially the protection of local jobs and infant industries, but they should careful not block free trade which encourages trade specialization and comparative advantage. 
 
9. Securing Peace and security: The most important function of any government is the protection of life and property. A nation devoid of law and order will not be able to perform such a necessary function and therefore her economic growth will be hampered seriously. For Nigeria, the police force must be reformed, and properly trained, equipped and handsomely paid. Courts must be allowed to perform their duties without interference from any quarters.  
 
Africa Political and Economic Strategic Center (Afripol) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, human rights, conflict resolutions, transparency and probity in Africa. 
Mr.Emeka Chiakwelu is the Founding director/Chief policy strategist of Afripol Organization.
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Last Updated ( Tuesday, 12 August 2008 )
 
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