May God bless Prof Charles Soludo for this wonderful article. Covid 19 and economics have never been so dissected anywhere in the world. Whenever I think that Nigeria is blessed with brains like this in thousands and a Buhari is the president my heart bleeds, even upon reading this template the dullard in aso rock will still do nothing about it.

igwe18:
Our model should be learning-by-doing while mainstreaming basic common-sense tips such as: mandatory wearing of masks in public, basic hygiene, disinfection of all open markets every early morning and all places of public gatherings, practical social distancing tips, provision of hand washing facilities in public places, production and use of hand sanitizers, gloves, etc. For example, all public transport vehicles—taxi, buses, trains, airplanes might require disinfection of the vehicle before use, and for all passengers to wear masks and with hand sanitizers. Can you imagine the thousands of jobs to be created in producing face masks, hand sanitizers, gloves, etc for 1.3 billion people? But this cannot happen under a lockdown. New opportunities! Everyone wants to live, and Africans will learn and adapt quickly. Staying at home will become a choice, not a compulsion. The slogan could be: “stay at home if you can, or smartly go to work if you must”. We can only defeat the challenge by confronting it, and not by playing the Ostrich only to still confront it the day after.

Every African society has some local herbs that, to use President Trump’s phrase, “might help”. While the UK and others are experimenting with vaccines, you never know if an Africa herb might be the cure. Necessity is the mother of invention, and only those who dare, succeed! With enough education and mobilization, the infection rate will be drastically reduced without pausing the lives of 1.3 billion people.

The real challenge is the potential economic catastrophe that many African economies face. How policymakers respond depends on how they interpret the shocks: as temporary or permanent structural shifts. But howsoever they choose to see it, one thing is certain: several more similar shocks (not necessarily in exact form) are on the way.

What is evident so far is that most African policymakers (typically) think of the shocks as temporary, and consequently seem to believe that they can just stimulate their way out of it and wait for the next one. African multilateral financial institutions (e.g. AfDB and Afreximbank) have announced packages to assist Africa ride over the shocks. The World Bank and the IMF have provided quick disbursing windows for us to borrow. African finance ministers have called for moratorium on debt servicing, and most have applied for the cheap loans from Washington. Several African countries have “announced” intervention funds that, at best, constitute a drop in the ocean relative to need. The buffers and institutions for dynamic adjustments are weak or absent. In most countries, subnational governments are pleading for bailouts from their cash-strapped central governments. Many of these subnational governments will soon realize that they are basically on their own, and many could become fiscally insolvent.

After most African countries empty all their piggy banks now, and borrow their full tranches at the Fund and the World Bank, secured moratorium on existing debt etc, what happens with the next disruption in a few years’ time? Or like the African musician, Oliver de Coque sang: “let us enjoy life today, and after that we can worry about tomorrow”? But that tomorrow is a few hours away. Because of these crises, many African currencies (especially the oil producers) might likely depreciate significantly. Servicing these external debts tomorrow with the exchange rate then, would require heavy lifting. But it is difficult to see how a competitive real effective exchange rate regime will not be a critical component of their comprehensive strategy for diversification and global competitiveness.

Politicians with short-term electoral cycles typically have short time horizons or suffer policy myopia. This is not just an African problem. It is a typical problem of multiparty democracies with short term electoral cycles and term limits. However, extreme cases abound in some African states especially because the civil service (that ought to ensure longer term continuity) is very weak. With eyes on the next election, opportunistic populism wins. Rather than confront the underlying structural dysfunction, the easiest escape is to pile up debts and contingent liabilities. This is the circularity that has brought Africa to the present embarrassment whereby barely some years after massive debt cancellations/reliefs from our creditors, we are again pleading for “debt relief”. But several future shocks are on the way. When and how can African countries escape this circular trap? This is a short question but with a long answer. Each country’s economic/development team should get to serious work.

For the countries that see the shocks as signalling structural shifts (which it largely is), the focus should be on exploiting the opportunities offered by the crises to press the re-set button. It requires a realistic diagnosis and admission that the existing business model has been rendered obsolete. Crafting a new business model that encompasses the whole range of institutional, technological, structural, macroeconomic, and even politico-governance arrangements takes time and demands for disruptive thinking. It would require mainstreaming creative non-debt-creating financing options and new forms of economic partnerships. But these require longer-term perspectives and a form of inter-generational planning. There lies the conflict versus the opportunity and points to what separates politicians from statesmen. Politicians think of the next election, while statesmen think of the next generation. We pray for Africa’s political statesmen (a seeming contradictory combination—be a politician and statesman at the same time). That is why I strongly support the re-opening of all of Africa urgently, and let all hands get to work to help them succeed.

I think the lockdown should be relaxed a bit to allow some businesses open while observing the social distancing guidelines

AUDIO CORONA. We should all be dead by now or the streets of Lagos should be litter by dead bodies by now. We have been lockdown for over 4 weeks now. Audio corona, our leaders should continue stealing money. One day the youth will get sense.

This piece reminds me of the fact that we need an African Government. The AU is dead and totally useless.

This Paragraph is thought provoking"

Every African society has some local herbs that, to use President Trump’s phrase, “might help”. While the UK and others are experimenting with vaccines, you never know if an Africa herb might be the cure. Necessity is the mother of invention, and only those who dare, succeed! With enough education and mobilization, the infection rate will be drastically reduced without pausing the lives of 1.3 billion people".


Kudos to Prof. Soludo for taken the bull by the horn. This is what I am talking about. We can not play down on our local herbs just because the western world are not comfortable with it. This what our ancestors have been used to survive this once described - death continent, because of Malaria and other tropical diseases.

We should adopt what works for us and not what works for western world. we are two worlds apart. The Lock-down is not sustainable.

Honestly, We have serious inferiority complex on this continent. no confidence at all.

SamuelAnyawu:
Nice writeup Soludo.

Although a very brilliant Economist who messed up CBN staff welfare and looted CBN treasury .

In your bid to sound "clever" you messed you quote up.
Are we discussing his services as CBN governor or what solutions he has proffered?
Why is that some of us like being petty?

The media hype got us scared, lets look at it objectively, its not that bad here, what will destroy us is continuing the lockdown.

Soludo I have missed your piece, the only writer that I can 20 pages of his articles without getting bored and also enlightened.

Politicians think of the next election, while statesmen think of the next generation. Painfully statesmen have turned politicians .

I wish our politicians will look inward for solutions as rightly said , call the herbs specialist together and let see what they can offer.

We shall overcome.

"we can only defeat the challenge by confronting it , and not by playing the ostrich only to still confront it the day after"...

somebody should wake up Winston Churchill pls...


"A politician think about the next election but a stateman think about the next generation"

a good student of BISMARCK

People like Chukwuma Soludo should be a mainstay at the helm of affairs in the central government not minding their political platform/party. Precisely in the ministry of finance and ministry of foreign affairs..

Excellent article , enjoyed reading it from A-Z.

Coronavirus1:
I am 100% sure that nobody read this full economic text book of soludo too long give few guidelines is fine .But more grace to your elbow.

U think everyone is as lazy as you? I did not only read the piece from beginning till end but went back to review it line by line. These are the little things that distinguish acheivers from mediocres.

Prof Soludo has hit the nail on its head with whirling sledge hammer, i have been holding unto many of his points in discussion with my colleagues since this lockdown, we don't have the capacity to fund it, in every and anyway u think about it.

We've so far embarrassed ourselves from our haphazard palliative sharing concortion, poor policy making, to outright deception from our leaders. Though we are not doomed yet, we still have time to set things right.

Soludo's contribution is highly commendable and African-centric, i hope we toe towards this direction.

God bless Nigeria.

Friend22:


In your bid to sound "clever" you messed you quote up.
Are we discussing his services as CBN governor or what solutions he has proffered?
Why is that some of us like being petty?

He has nothing to offer

Coronavirus1:
I am 100% sure that nobody read this full economic text book of soludo too long give few guidelines is fine .But more grace to your elbow.

I read every word of it... One of the best articles I have read in a very long while!!!

Acidosis:
Nice write-up but I'm surprised he didn't mention anything about testing. Well, he's an economist so it's not out of place to address this challenge from the viewpoint of money. It's what any economist or businessman will do.

You just can't wish away this virus because you want to make money. You didn't consider the lives of the health workers and the burden on our weak health infrastructure. Absolutely nothing was said by Soludo on these key issues.

Like the lockdown, the entire suggestions about nose masks, disinfectants and others will not work. They're not part of us. You can't condemn a foreign measure (lockdown) and bring upon us another foreign measure (wearing of nose masks). Both came from the West and both would be resisted in the same measure by the same sets of people.

You do realize you haven't said anything concrete here??!...

You criticized yet failed to proffer something better!!!

2loadedguy:
May God bless Prof Charles Soludo for this wonderful article. Covid 19 and economics have never been so dissected anywhere in the world. Whenever I think that Nigeria is blessed with brains like this in thousands and a Buhari is the president my heart bleeds, even upon reading this template the dullard in aso rock will still do nothing about it.

What do you expect? Nigerians are addicted to suffering, so they have a way of voting for people that will make them suffer the most!

sapientia:


Don't use your sense.

Be quoting me you hear.

Anyone against current measures for Africa is a clown.

Who told them Africa can do all these their sweet talks.

Bogus plans that no one ever prepared for.

Charles should go and sit down.

Na dem dem.

Paper plans everytime.

Sweet talks with no visible practical applications

Nigeriadondie

MiniMiniPoPoPo:


agbero like you. you do head like compressed palm kernel!!!

compressed palm kernel....



TKO.

SamuelAnyawu:


He has nothing to offer

I guess you have something to offer that's why you are not recognised fior your "intellectual sagacity" other than owning a faceless moniker hete with no known credentials.
Sorry if this sounds harsh, but some of us need to respect ourselves .

sapientia:
So soludo said we shouldn't have locked down.

We should have allowed people to be spreading it abi.

Imagine no lockdown and no testing.

He should get realistic abeg.



You are one of the few who read and understand.

It was the only and best they could do then.

Charles should stop ranting, he has been part of and is still part of government.

He is one of the people be should be talking to.

You and the guy you mentioned should demand a refund of school fees paid right from primary school level...

Angelfrost:


You do realize you haven't said anything concrete here??!...

You criticized yet failed to proffer something better!!!

I don't have any solution to offer. No amount of recommendations can work in a country with over 70% adult illiteracy rate.

Whatever anyone tells you won't work. It's either we lockdown to reduce the rate of spread and buy some time for the developed nation to come up with a cure OR we go about our normal lives and expect an astronomical rise in active cases and death rate.

AsomughaChuks05:
CC Soludo. Exhaling wisdom as always. The next governor of Anambra state.

mrs obiano want stanel guy

no

babyfaceafrica:


No solution is good or bad.... What we have is a necessary solution... Ghana has reopened.. Sweden didn't even lockdown shishi... SA is reopening may 1st....evry country is doing what is necessary.. But what are we doing in nígeria... Copy and paste.. So shameful

I would have agreed to easing the lockdown but truth is we didn't really make significant progress in the last 3 weeks and our curve is just starting

babyfaceafrica:



we don't have any contingency plan for rapid increase in coronavirus cases in this country is a very bad idea


Why don't we have a contingency plan after about a month of lockdown...?.. Is that how working nations behave?.... Shouldn't we prepare for life after lockdown.... What is the economy team headed by the VP doing for a month?.. Isolating àbí... Issorite.. When heaven falls, it falls on us all

Bro this is Nigeria
Just going wherever the wind takes us

Acidosis:


I don't have any solution to offer. No amount of recommendations can work in a country with over 70% adult illiteracy rate.

Whatever anyone tells you won't work. It's either we lockdown to reduce the rate of spread and buy some time for the developed nation to come up with a cure OR we go about our normal lives and expect an astronomical rise in active cases and death rate.

So, option 2 then... Cos, option 1 is totally out of the question... Thank you.

Angelfrost:


So, option 2 then... Cos, option 1 is totally out of the question... Thank you.

It is a generally known fact that "talk is cheap'. It cost absolutely nothing to talk or sit down at the corner of your house to test one of the basic skills you learnt at your primary education level 'writing skill'....

I must honestly admit the fact that Prof Soludo has written well, while, also acknowledging the fact that our country administrators are stereotype, incompetent goats and they don't have believe in their own problem solving abilities, or better still, they lack wisdom and knowledge.

In the Bible, it is written that "my people perish because they lacked basic knowledge". Or should we say our leaders have knowledge but lack wisdom and understanding.

Happenings in Africa have revealed that 'black race' is either cursed and/or designed albinitio to fail as a continent. No doubt, Africa as a continent has produced and still birthing great minds, intellectuals, sound and great thinkers, strategical and analyst. However, why has Africa refused to develop and solve her problems, it remains a rhetorical question?... Copy and paste has mastered our life, even the newer generation sees it as their best option, templates saves u from thinking and makes you dump !!

Prof Charles Soludo has honestly given us a great piece/article. I so much cherish is writing skills, it is best to none. However, I will like to ask these questions, does he think the low thinking commercial drivers are ready to spend money to disinfect their buses on a daily basis ? most drivers I know in Nigeria are only ready to drive 32people to Oshodi with no tire in front and no brake..

A Nigeria commercial driver once drove me and 17 others from Ife to Lagos without brake and no extra tire. Thank God the unfortunate did not happen that day. This hoodlums will only help spread the virus.

In a recent Video, 'I am not being tribalistic here', I have never being enslaved by tribalism and never will I, I saw a clown from the nothern part of Nigeria washing his hands in a bowl/bailer and he drank it, he said corona-drivus (has coined by some Nigerian's) cannot infect him as it is not real. Let us assume corona virus is an abstract virus, is it normal for a sane person in a sane world to drink such water.......

(Recently some people died in the northern part of the country via an unknown ailment or disease. I wouldn't want to dwell too much on that as it is subject matter for another day)

These people will spread the virus if government had not compulsuried the lock-down at the early stage. I still feel the lock-down was a proactive measure. Although, our government should be blamed for not immediately closing international borders, isolating foreigners and immigrants when the news of the virus sprung up. We know prevention is much and much cheaper than cure.

The issue of poor governance of the country by our rulers has surely been over flogged in the past by several scholars, despite that, situation kept worsening.



My other comments based on my Soludo resolution;

1. Our local herbs can no doubt solve the problem if our local herbs specialist research on it. But how many people would have contacted it and get killed by this contagious virus. The herbs wouldn't be immediate thing, so we actually needed the lock down to flatten the curve at its early stage.
Not the best for our Nation at this point in time, but not a bad tool either..... If I may ask, when last did Mr Soludo sips our local herbs last, I doubt it, foreign hospital will not let them dare it.

I believe the virus is getting to it peak (14-30days) in the country that is while we are recording more cases on daily basis. I expect it to start dropping drastically in few days by God's grace.

2. Assuming Mr Soludo is our president, I doubt if he would have done better or suggested more sustainable approach at its early stage in the country. Records reveals that he was once in power, the rest is history...

3. Can face mask flatten the curve when we have so many clowns in the country who woudnt listen to simple instructions? Our people are too stubborn. I stand to be corrected, in Nigeria, more than 30percent of people who knows they have CoVid-19 are looking at ways of spreading it to more people"we die together mentality".

4. Assuming the lock-down was not put in place and the virus struck the company so bad like Italy, God forbid, I know people will still write that "Our government has refused to learn from Western world", they will questions, why have we refused to lock down?.... In whatever ways, government will surely be at the receiving end !!!!!

5. Mr Soludo has a point and government should tap from some of his recommendations.

6. Mr Soludo, I am sure u are spending wisely some of our national treasurer u stole then. It is well with our soul

To cut the whole thing...

Government needs to carryout more test daily and invest heavily on health sector. This virus is surely an eye opener to what we should still be expecting in later years. "Viruses keeps resurfacing every 4/5years'

We need to get ready for situations like this and avoid to be caught of guard always. I am sure the Western world would see more of positives in this trying period than negative. We should imbibe this and prepare for the future...

As u lay your bed, nah so u go sleep untop am.

No we can't!

Even the one we have already done may cost us dearly.

Our (Nigeria's) leaders are just dumbbb!!

Acidosis:


I don't have any solution to offer. No amount of recommendations can work in a country with over 70% adult illiteracy rate.

Whatever anyone tells you won't work. It's either we lockdown to reduce the rate of spread and buy some time for the developed nation to come up with a cure OR we go about our normal lives and expect an astronomical rise in active cases and death rate.

Mr man, lockdown has NOT and CANNOT reduce the rate of spread.

The current lockdowns have been a sham!

We should not bother about cases. What we should bother about is how many cases lead to death

Confirmed cases in the country may be up to 100,000. Yet we have only recorded only 31 deaths - most of them, returnees from abroad with the deadly version from abroad and those with serious underlying health conditions.

Most of the current confirmed cases are asymptomatic and will recover with little or no treatment.

Coronavirus is NOT for Africa! The LORD is good to us!!

If the Coronavirus could hit us it is hitting them abroad, by now we all may have been dead...

On paper, being optimistic creates bright ideas. But the measure of consistency of the ideas with the present reality is the ultimate judge of brightness. What I’m trying to say is, what the prof said sounds good to hear but really not consistent with our present realities in Africa.

The lockdown is the singular policy that has saved thousands of African lives if not millions. Our testing capacity on the continent is low, our health industry is not better compared to those overwhelmed by Covid-19 in Europe and USA.

In times like this, intellectuals usually take back seat for available options. It wasn’t a panic neither was it a scare mongering campaign because evidently, the virus has decimated economies and killed hundreds of thousands in less than 3 months. Not a lot is known about this strain of Coronavirus yet.

So it’ll be an intellectual gamble( One only irresponsible leaders will play) to forgo a working option for a bright idea in this situation.

I respect the ideas in the prof’s journal piece but they aren’t consistent with our present reality. The ideas are good when preparing for a pandemic but not when fighting it. He mentioned herbal solutions etc but these options are rather late. Late in the sense that the Lockdown has immediate effect on virus spread while herbs etc will take time and death tolls woulda climbed before arrival. The lockdown was good and shouldn’t be criticized.

Lockdown, mass test, Isolate, treat. Only way to prevent apocalyptic fatality scenario.

My man, Prof. Charles Soludo has said everything, nothing to add or remove...If only this will be allowed by these leaders.

Avalancheman:


Mr man, lockdown has NOT and CANNOT reduce the rate of spread.

The current lockdowns have been a sham!

We should not bother about cases. What we should bother about is how many cases lead to death

Confirmed cases in the country may be up to 100,000. Yet we have only recorded only 31 deaths - most of them, returnees from abroad with the deadly version from abroad and those with serious underlying health conditions.

Most of the current confirmed cases are asymptomatic and will recover with little or no treatment.

Coronavirus is NOT for Africa! The LORD is good to us!!

If the Coronavirus could hit us it is hitting them abroad, by now we all may have been dead...

So what will reduce the rate of spread?


"Confirmed" cases may be up to 100,000?? What about "confirmed" deaths?


Most of the cases are asymptomatic? Yes that's true.

Will they recover? Yes, a lot will.

Can recovered patients get reinfected with no preventive measures in place? Absolutely

Will the body continues to fight re-infected people? Oh well, The Lord is good to Africans and bad to Brits and Americans.