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Dr Kalu Idika Kalu Speaks On The Economy - Politics - Nairaland

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Dr Kalu Idika Kalu Speaks On The Economy by Adimoha: 8:38pm On May 17, 2017
Hey hey! Sanusi should know better by now than to list kalu Idika kalu merrily, without appropriate caveat , as being among IBB's major Finance "Operatives"!
The whole truth is actually more widely known among those who were " adult enough" to read financial papers in the eighties and nineties. . The whole truth is being packaged in my memoirs as we speak!
Yes Kalu Idika Kalu (KIK) , as Commissioner of Finance and Economic Planning (Feb'84-Aug '85, or during the Buhari's First Era), composed the core of the economic reform policies of the subsequent IBB era. Some of these written proposals, such as the abrogation of the infamous 1976 Land Decree, have yet to be addressed up to date! However, it is a fact that the issues raised were so contentious ( including the infamous ' IIMF debate), that kik only lasted FIVE months in the Finance Ministry, Sept '85 to Jan'86! The fact that kik nevertheless continued to engage in the economic and finance discourse must explain why less discernible observers, like young Sanusi , assumed he was Minister of Finance under IBB for a long time! Such an erroneous point of view leaves out the myriad of Finance Ministers appointed by the regime that lasted from August 85 to the early '90's, some Nine Years!
The list of Finance/Planning Ministers included Chu Okongwu, Olu Falae, Alhaji Alhaji and Abubakir Ahmed, none of whom held the position for less than TWO YEARS!! Economic historians can research the tenures of our motley crowd of ministers! But it would be inaccurate to make the assertion attributed to our now Eminent Emir! I bet he now has a more informed assessment that will reflect the true facts of the position!
It is quite appropriate to state incontrovertibly that though my tenure was " fleeting", the lingering under performance of the Nigerian economy to date remains our inability to fully embrace the principles and prescriptions contained in my August '85 economic plan. The proposals included the abrogation of the Land Decree, essential macro and micro economic policies, with specific monetary and fiscal issues, privatization procedure, globalization strategy, and , above all, optimal financing , among other simple economic concepts that have really being bastardized and emasculated over the entire thirty- odd years. . with disastrous consequences that have gone beyond our economic welfare to threatening the very continued existence of Nigeria as a unified nation!

Dr Kalu Idika Kalu

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