Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,827 members, 7,956,137 topics. Date: Monday, 23 September 2024 at 04:48 AM |
Nairaland Forum / Nairaland / General / Politics / 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post (909 Views)
Buhari Can Be Impeached Over Magu – Senator Okurounmu / 'It Is Over For Magu, Buhari Can Not Send His Name To Senate Again': Dino Melaye / No One Can Take Nigeria Back To The Jonathan Days After Buhari’s 8 Years- SGF (2) (3) (4)
5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by HungerBAD: 7:25am On Nov 03, 2015 |
President Muhammadu Buhari, who was inaugurated May 29, is the antithesis of the stereotypical Nigerian politician: incorruptible, soft-spoken, self-effacing and deliberate. He embraces the nickname “Baba Go-Slow and Steady.” Buhari’s unhurried style has its downsides, however: It took him an unprecedented four months to name a solid but unextraordinary cabinet. His reform agenda appears to be sauntering out of the gates, according to the civil society-run Buharimeter. In the meantime, the challenges facing Africa’s most populous nation and largest economy continue to grow: Oil revenues are down, currency value has slipped and Boko Haram has killed more than 1,700 since June. Nigerians nevertheless expect their new president’s reform agenda to show tangible results, and soon. Given these imperatives, here are five things Buhari can do to get the ball rolling: 1. Carefully clean house. Buhari’s reform agenda probably faces its greatest threat from corrupt, old-school politicians within his own All Progressives Congress (APC) party. Buhari should neutralize some of the APC’s shadiest figures, who could emerge as “veto players,” as described in Carl LeVan’s recent book. Examples of these kleptocrats are not hard to find. The U.S. Department of Justice has accused one sitting APC governor of helping former dictator Sani Abacha steal at least $458 million from state coffers. Likewise, both APC candidates in the upcoming Kogi and Bayelsa State governorship elections have been indicted by Nigeria’s anti-corruption agency. Admittedly, housecleaning carries political risks for Buhari. After all, his victorious electoral coalition included powerful defectors from former president Goodluck Jonathan’s People’s Democratic Party (PDP). If he unduly antagonizes these establishment figures, they could derail his party’s newfound dominance by joining their former comrades in the opposition PDP. 2. Pare down the parastatals. Buhari has an opportunity to realize immediate savings by eliminating or merging some of Nigeria’s more than 500 federal parastatals and boards. Parastatals are government-operated companies or commercial agencies. Pundits allege that past presidents used parastatal appointments to cultivate national political allies and provincial cronies. These institutions, which range from the lucrative to the modest to the moribund, have long been a cornerstone of corruption in Nigeria — a complicated topic expertly explained by Daniel Jordan Smith. Buhari may also want to disband some nice-to-have but non-essential parastatals in light of competing priorities and current fiscal constraints. Does Nigeria need to spend more than $4 million annually on a Center for Space Transport and Propulsion? Is there an effort underway to rescue the supposedly stranded Nigerian astronaut featured in this legendary scam letter? 3. Tame the white elephants. Buhari’s apparent determination to revive two “white elephant” economic sectors — domestic oil refineries and steel mills — worry industry experts. Nigeria is replete with these kinds of investment projects where state-owned enterprises are funded for long periods even if they incur huge losses. For decades, Nigerian leaders have thrown good money after bad at these projects because, as Robinson and Torvik argue, white elephant projects yield short-term political gains. Buhari, like any of the rest of us, could stumble into a sunk cost dilemma where his efforts to maximize future returns of Nigeria’s white elephants only increase their cumulative losses. Instead, he should address the graft, inconsistent policies and opaque privatization deals that experts say turned these industries into white elephants in the first place. 4. Rein in subnational debt. As Buhari tries to put Nigeria’s public finances back in order, the balance sheets of the country’s 36 states are sinking deeper into the red. In a decentralized federal system like Nigeria’s, state budgets typically affect the lives of ordinary citizens more than federal spending does. Since taking office, Buhari has already bailed out 27 cash-strapped states to the tune of $2.1 billion. States’ borrowing trends are risky and need to be addressed, according to a recent report by the African Development Bank. All but a few states generate minimal revenue outside of their monthly allocation of Nigeria’s anemic oil income. While Nigeria’s national debt is still relatively low by global standards, fiscal federalism means that if states default on their debts, the federal government foots the bill. Buhari’s reasons for watching state borrowing should also be personal: One of the stated reasons for the 1983 military coup that first brought him to power was runaway borrowing by state governors. 5. Legislate for the long run. Nigeria will need to feel the “Buhari Effect” (the sense, evident in a recent New York Times article, that there is a new sheriff in town) long after the president’s tenure is over. The best way for him to protect his legacy is to partner with the National Assembly to enact legislation enshrining key reforms. With few other politicians like him on the horizon, Buhari should put his legacy in writing. A good place to start would be an act prohibiting the use of “security votes.” Both a definitive article by Uche et al. and a 2007 Human Rights Watch report illustrate how these secretive budgetary line items are used by officials at all levels of government as slush funds. Even Nigeria’s leading anti-corruption agency had a $1,000,000 security vote included in its 2014 budget. Buhari has his work cut out for him. Matthew Page is an international affairs fellow at the Council on Foreign Relations. You can follow him on Twitter at @MatthewTPage. http://pointblanknews.com/pbn/exclusive/5-things-that-buhari-can-do-to-get-nigeria-back-on-track-washington-post/ Seun,Lalasticlacla 1 Like |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by bonechamberlain(m): 7:27am On Nov 03, 2015 |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by Lattop(m): 7:27am On Nov 03, 2015 |
BRB to read everything |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by BreezyCB(m): 7:31am On Nov 03, 2015 |
. |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by gregg2: 7:33am On Nov 03, 2015 |
uwa1: Will Buhari actually appear on stage to campaign for reknown thieves like Abubakar Audu of Kogi and Temipreye Sylva of Bayelsa? I'm waiting . . . 1 Like |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by KOLZY(m): 7:36am On Nov 03, 2015 |
but who would listen |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by uwa1(m): 7:36am On Nov 03, 2015 |
Only if they are willing to do so. |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by Codedb2: 7:46am On Nov 03, 2015 |
I wish buhari will read this on his own and take correction But Adesina will read iit and misinform him. He will even tell him that the writer is abusing him. Later you will see Adesina warning the writer 2 Likes |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by DaBullIT(m): 7:48am On Nov 03, 2015 |
I have always wondered why there are so many parastatals in Nigeria , organizations that just exist to collect salary with no clearly defined work being done by them |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by ORACLE1975(m): 7:48am On Nov 03, 2015 |
Good advice |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by Rawani: 7:57am On Nov 03, 2015 |
Great recommendations mostly. I however thought we'd see economic diversification i.e solid mineral development/agriculture given prime position, to generate alternative income streams in these dire times, instead of asking the FG to completely take its hands off the steel mills. As prescribed by the author, PMB is already streamlining the MDA's which is critical to the needed reforms. We need to strategically cherry-pick unsolicited recommendations from foreign interests, instead of swallowing everything hook, line and sinker. |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by malton: 8:37am On Nov 03, 2015 |
The government should ensure an enabling environment and it's sustainability to attract FDI. Infrastructure is what is mostly needed to move Nigeria forward. Refineries should be made viable or privatised altogether. More investments should be made in agriculture; mechanised farming should be pursued by government especially on lands abandoned by farmers for fear of Boko Haram attacks. An industrial estate should be created in all states to specialise in the production of commodities for which the raw materials are found within such states. Moribund industries like the textile ones(among others) in Kaduna should be revived and made fully functional and ensured that they operate optimally. The tax system should be reviewed to ensure transparent and effective tax regimes. Sports and other sectors of the economy should be made attractive enough to absorb the teeming youth population. Most importantly, incentives must be put in place to reward good behaviour and punish bad ones. |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by mazeltov(m): 8:53am On Nov 03, 2015 |
Carefully clean house comes first. It is illogical to build on weak foundation laid by previous administration rather, Pdp 1 Like |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by Osyxcel(m): 9:09am On Nov 03, 2015 |
I am so tired of this administration, things are getting worse each day, and all they do is to talk and talk and talk, no action. 1 Like |
Re: 5 Things That Buhari Can Do To Get Nigeria Back On Track-washington Post by BALLOSKI: 10:12am On Nov 03, 2015 |
Good |
(1) (Reply)
Nnamdi Kanu May Not Be Alive - Parents Raise Fear / Why Is Nigerian Military Ever Ready To Quash Unarmed Protest / Senegal Bans Burqa To Stop Terrorists Disguising In Islamic Dress
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 43 |