http://www.cp-africa.com/2011/09/12/opinion-dr-ngozi-okonjo-iweala-makes-a-case-for-south-east-nigerias-economy/

Opinion – Dr. Ngozi Okonjo Iweala makes a case for South Eastern Nigeria’s Economy



Of the many challenges facing our country, the most fundamental, in my view, is improving the economy and enhancing the welfare of our people. It is fundamental because the state of the economy is a barometer for measuring the health of other aspects of society, be they social, or political.

A weak economy is a recipe for societal breakdown: the political chaos that trailed the recent debt- crisis in Greece and other parts of Europe, and the recent public overthrow of governments in the Middle East and North Africa, are all traceable to fundamental economic problems.

The home truth is that the South East as a region is operating far below its economic potential. An area roughly the size of Belgium in land mass, and 11.7% of the Nigeria’s population (according to official statistics), can contribute more to the national GDP in view of enormous endowments of resources, both human and natural. This is the challenge that is confronting us today – a challenge that warrants our attention urgently, for the sake of present and future generations. To borrow the words of Calvin Coolidge, the 30th President of the United States, “economy is the method by which we prepare today to afford the improvements of tomorrow”.

Why is the South East zone so special? In addition to abundant natural resources, like oil and gas, coal, salt, and so on, the region still has one of the best arable land in the country – it is often said that everything grows in Igboland. The region has comparative advantage in the production of subsistence crops like yams, maize, rice, plantains, and cassava. Cash crops like oil palm, rubber, and wood are also in abundance. In this era of rising food prices, the region could potentially offer food security to the nation, and generate export revenues: Nigeria’s food imports cost more than $10 billion yearly. The development of agro-based industry could also rid the region of its high rates of unemployment.

However, the region is still a net consumer of food – a reflection of the poor state agriculture sector.

The South East Zone has also seen an increase in industrial activity in recent years, with the development of industrial clusters in various axes of the region. These clusters, including the Onitsha Plastic Cluster, Umuahia/Aba Garment Cluster, Aba Leather Cluster, Nnewi Automotive Cluster, to mention a few, are the flag-bearers of “made-in-Nigeria” products, and are in many cases, the only competition to foreign products that cost our nation significant amounts in foreign currency every year. However, the industrial sector is still employing rudimentary production processes, which curtail productivity and limit the amount of jobs created. With the right investments in technology and infrastructure, these industries could really take-off.

Again, the South East zone has one of the best Human Development Indicators in the country. It has the lowest poverty levels in the country, and the quality of human capital – specifically adult literacy rates, and gender development indicators, are the highest in the country. The potential for other service-based industry, apart from the wholesale and retail trade sector for which the region is well known, is therefore enormous. Overall, the economic opportunities that exist in the three sectors of economic development – primary, industry, and services, are vast, and quite unique to the South East zone in Nigeria.

Let me also briefly outline the significant challenges that lie ahead for the zone to realize its true economic potential. Firstly, there is a need for adequate infrastructure: The region’s road infrastructure is in a poor state, and is a major constraint to the development of agriculture and trade. While I commend efforts by the various state administrations to improve the roads networks, I also want to say that the federal government is willing to work hand-in-hand with the states to develop the region’s roads, particularly the Enugu-Port Harcourt road; the Second Onitsha Niger bridge – a key to unlocking inter-regional trade with the rest of the country; and, also rail transport links to the rest of the country. The environmental problems of soil erosion and waste management confronting the region as a whole is beyond the capacity of the States to address individually, and requires the involvement of the federal government. Efforts to implement the Inland Ports Development programme will also be ramped up at the federal level vis-a-vis efforts to improve trade logistics and cut clearing times for goods at the nation’s ports.

Secondly, improving the investment climate is paramount: According to the World Bank’s Doing Business in Nigeria Report (2010), the South Eastern states are ranked below other states and the FCT i.e. from 30th position to 36th, in the “ease of doing business” category – a reflection of the poor state of the business environment. The zone is particularly weak in the “enforcing contracts” category, suggesting the need to improve the justice system in the region. Business regulatory systems clearly need to be more efficient. The workforce in the region could also be better equipped with the right skill set, involving vocational training, to support the potential growth of the various economic sectors.

While the South East zone is one of the most homogenous and cohesive zones in this country, there is a need for continued cooperation among the various states and interest groups. I am confident that our commitment to work hand-in-hand is vital to the region’s development.

Economic development is not only about the right policies and programmes or even the right leadership. No doubt these are important factors which contribute to the achievement and sustenance of economic development. But they do not stand alone. A critical factor which drives and sustains economic development is the system of values which provides a foundation. I know that some of us sitting here think that values and character are luxuries which smart people can do away with in the pursuit of money and fame. I beg to disagree. I make bold to say that one of the reasons why we have not done as well as we should is because we have not displayed the necessary strength of character, that collective focus on the best interests of our people.

Our values should help us come together, make us treat each other better, help us build the bonds of brotherhood; help us reject the temptation to cheat each other. Our values and character are the critical ingredients we need to forge ahead as a people. A few of us have given our people a bad name through their selfish actions. But I believe it’s time for us to reject the bad name by categorically rejecting the negative values that have also contributed to stopping us from putting our best foot forward. There is no better time than now.

Originally published in Business Day Nigeria, Monday 12th September, 2011

Okonjo Iweala is the Finance Minister and Co-ordinator of President Jonathan’s economic team

A good start. Let the Nigerian regions develop and the centre weaken.

Make everybody answer their Papa name and then the regions use comparative advantage to trade on their strengths.

Nice one.

more talk, as usually.

Can't be mad at her for loving her people, at least.

A good reason why we in SE and SS. Ourselves out of that diabolical forced union

The South East should be futher exploited for the benefit of Nigeria?

I say lets split first - The South East has carried this entity called Nigeria enough.

And for what?

Parasite/Host relationship.

^^^^^ time to move this to tribe section.

VoodooDoll:

http://www.cp-africa.com/2011/09/12/opinion-dr-ngozi-okonjo-iweala-makes-a-case-for-south-east-nigerias-economy/

Opinion – Dr. Ngozi Okonjo Iweala makes a case for South Eastern Nigeria’s Economy



Of the many challenges facing our country, the most fundamental, in my view, is improving the economy and enhancing the welfare of our people. It is fundamental because the state of the economy is a barometer for measuring the health of other aspects of society, be they social, or political.

A weak economy is a recipe for societal breakdown: the political chaos that trailed the recent debt- crisis in Greece and other parts of Europe, and the recent public overthrow of governments in the Middle East and North Africa, are all traceable to fundamental economic problems.

The home truth is that the South East as a region is operating far below its economic potential. An area roughly the size of Belgium in land mass, and 11.7% of the Nigeria’s population (according to official statistics), can contribute more to the national GDP in view of enormous endowments of resources, both human and natural. This is the challenge that is confronting us today – a challenge that warrants our attention urgently, for the sake of present and future generations. To borrow the words of Calvin Coolidge, the 30th President of the United States, “economy is the method by which we prepare today to afford the improvements of tomorrow”.

Why is the South East zone so special? In addition to abundant natural resources, like oil and gas, coal, salt, and so on, the region still has one of the best arable land in the country – it is often said that everything grows in Igboland. The region has comparative advantage in the production of subsistence crops like yams, maize, rice, plantains, and cassava. Cash crops like oil palm, rubber, and wood are also in abundance. In this era of rising food prices, the region could potentially offer food security to the nation, and generate export revenues: Nigeria’s food imports cost more than $10 billion yearly. The development of agro-based industry could also rid the region of its high rates of unemployment.

However, the region is still a net consumer of food – a reflection of the poor state agriculture sector.

The South East Zone has also seen an increase in industrial activity in recent years, with the development of industrial clusters in various axes of the region. These clusters, including the Onitsha Plastic Cluster, Umuahia/Aba Garment Cluster, Aba Leather Cluster, Nnewi Automotive Cluster, to mention a few, are the flag-bearers of “made-in-Nigeria” products, and are in many cases, the only competition to foreign products that cost our nation significant amounts in foreign currency every year. However, the industrial sector is still employing rudimentary production processes, which curtail productivity and limit the amount of jobs created. With the right investments in technology and infrastructure, these industries could really take-off.

Again, the South East zone has one of the best Human Development Indicators in the country. It has the lowest poverty levels in the country, and the quality of human capital – specifically adult literacy rates, and gender development indicators, are the highest in the country. The potential for other service-based industry, apart from the wholesale and retail trade sector for which the region is well known, is therefore enormous. Overall, the economic opportunities that exist in the three sectors of economic development – primary, industry, and services, are vast, and quite unique to the South East zone in Nigeria.

Let me also briefly outline the significant challenges that lie ahead for the zone to realize its true economic potential. Firstly, there is a need for adequate infrastructure: The region’s road infrastructure is in a poor state, and is a major constraint to the development of agriculture and trade. While I commend efforts by the various state administrations to improve the roads networks, I also want to say that the federal government is willing to work hand-in-hand with the states to develop the region’s roads, particularly the Enugu-Port Harcourt road; the Second Onitsha Niger bridge – a key to unlocking inter-regional trade with the rest of the country; and, also rail transport links to the rest of the country. The environmental problems of soil erosion and waste management confronting the region as a whole is beyond the capacity of the States to address individually, and requires the involvement of the federal government. Efforts to implement the Inland Ports Development programme will also be ramped up at the federal level vis-a-vis efforts to improve trade logistics and cut clearing times for goods at the nation’s ports.

Secondly, improving the investment climate is paramount: According to the World Bank’s Doing Business in Nigeria Report (2010), the South Eastern states are ranked below other states and the FCT i.e. from 30th position to 36th, in the “ease of doing business” category – a reflection of the poor state of the business environment. The zone is particularly weak in the “enforcing contracts” category, suggesting the need to improve the justice system in the region. Business regulatory systems clearly need to be more efficient. The workforce in the region could also be better equipped with the right skill set, involving vocational training, to support the potential growth of the various economic sectors.

While the South East zone is one of the most homogenous and cohesive zones in this country, there is a need for continued cooperation among the various states and interest groups. I am confident that our commitment to work hand-in-hand is vital to the region’s development.

Economic development is not only about the right policies and programmes or even the right leadership. No doubt these are important factors which contribute to the achievement and sustenance of economic development. But they do not stand alone. A critical factor which drives and sustains economic development is the system of values which provides a foundation. I know that some of us sitting here think that values and character are luxuries which smart people can do away with in the pursuit of money and fame. I beg to disagree. I make bold to say that one of the reasons why we have not done as well as we should is because we have not displayed the necessary strength of character, that collective focus on the best interests of our people.

Our values should help us come together, make us treat each other better, help us build the bonds of brotherhood; help us reject the temptation to cheat each other. Our values and character are the critical ingredients we need to forge ahead as a people. A few of us have given our people a bad name through their selfish actions. But I believe it’s time for us to reject the bad name by categorically rejecting the negative values that have also contributed to stopping us from putting our best foot forward. There is no better time than now.

Originally published in Business Day Nigeria, Monday 12th September, 2011

Okonjo Iweala is the Finance Minister and Co-ordinator of President Jonathan’s economic team

The highlighted is just important as the message.

good talk iweala

i still think majority of the industries in the SE need government help so as to move forward for nigerians

she said the truth

ekt_bear:

Can't be mad at her for loving her people, at least.

WTF, school boy, is there anything she said that is incorrect? We have gone over these statistics here several times.
Once Nigeria separates, the demon linked to the word Nigeria will be exorcised from an Igbo country and the potentials will be realized sooner than later.

VoodooDoll:

http://www.cp-africa.com/2011/09/12/opinion-dr-ngozi-okonjo-iweala-makes-a-case-for-south-east-nigerias-economy/

Our values should help us come together, make us treat each other better, help us build the bonds of brotherhood; help us reject the temptation to cheat each other. Our values and character are the critical ingredients we need to forge ahead as a people. A few of us have given our people a bad name through their selfish actions. But I believe it’s time for us to reject the bad name by categorically rejecting the negative values that have also contributed to stopping us from putting our best foot forward. There is no better time than now.

Originally published in Business Day Nigeria, Monday 12th September, 2011

Okonjo Iweala is the Finance Minister and Co-ordinator of President Jonathan’s economic team

On point with everything , this is where I hold Ohanaeze responsible, the last paragraph is what I need them to focus on and pursue development agendas that will better our lot.

Posted by: udezue

A good reason why we in SE and SS. Ourselves out of that diabolical [size=16pt]forced union[/size]

hehehe! LMAO @Udezue. Supported.

its no secret the south east has the best DIVERSE potentials in the country especially when it comes to manufacturing ,technology, human resources etc , its makes no sense why the FG does not want to invest in that region ,this is all [part of what is causing unemployment in nigeria, i hope GEJ era with okonjo iweala corrects all this cause at the end of the day it will benefit everyone something the past nigerian illiterate and stupid leaders never understood. they should also include cleaning up aba and onitsha in their agenda.

htajz:

its no secret the south east has the best DIVERSE potentials in the country especially when it comes to manufacturing ,technology, human resources etc , its makes no sense why the FG does not want to invest in that region ,this is all [part of what is causing unemployment in nigeria, i hope GEJ era with okonjo iweala corrects all this cause at the end of the day it will benefit everyone something the past nigerian illiterate and silly leaders never understood. they should also include cleaning up aba and onitsha in their agenda.

Isn't that a state agenda

-------------------------------
Nice one, Iweala. Please, try to extend the good-will to the SS and other regions in the Federation. Also, I hope you'll stop or reduce the corruption. (I know it's very hard to resist but you can steal and still do the work! )

Na so @ ONLYTRUTh.

So sick and tired of sharing an entity with unproductive parasites. If Biafra had succeeded we would have been so far ahead of these parasites. Even in the midst of our precarious situation we are still ahead of them in all human endeavors and that is why they just can't let us go. 4king parasitic crabs. Tufia!

South-East:

WTF, school boy, is there anything she said that is incorrect? We have gone over these statistics here several times.
Once Nigeria separates, the demon linked to the word Nigeria will be exorcised from an Igbo country and the potentials will be realized sooner than later.

*shrug*

She is entitled to her opinion, I am entitled to mine

ekt_bear:

*shrug*

She is entitled to her opinion, I am entitled to mine

Hhahaha! Not to worry, the next best thing after the Igbo is Yoruba. So you are still on course: # 2.

Like I said, you are entitled to your opinion, I to mine

I think we are the best, she is welcome to think the same about her group

ekt_bear:

Like I said, you are entitled to your opinion, I to mine

I think we are the best, she is welcome to think the same about her group

But she is of SS (albeit Igbo) and she is not talking of ethnicity but of zones.

largely speaking, from what I've observed so far from nigerian politics zone is politically correct talk for ethnicity

anyway her husband is from the SE, so I guess she is "property" of that zone now (i hope no women reading this get offended by this statement )

ekt_bear:

largely speaking, from what I've observed so far from nigerian politics zone is politically correct talk for ethnicity

Bull Poo. What do you say about the North and SS? Only the SE and SW applies to your logic and that cannot be considered ''largely speaking''.

SS is mostly southern minorities + some igbos

NC is mostly northern minorities + some yoruba

nw + ne are hausa + hausaized peoples

She is speaking the truth simple. Its not because she is SS Igbo or whatever.

ekt_bear:

SS is mostly southern minorities + some igbos

NC is mostly northern minorities + some yoruba

nw + ne are hausa + hausaized peoples

Ignorance
What is meant by southern/northern minorities? How many are there?
NE is not Hausa. More of Kanuri, Fulani and tons of other ethnicities.

These groups (ex SE and SW) are as heretogenious as heaven is to earth.

Southern minority, northern minority = group that isn't part of the big 3. Granted, there is a bit of circularity in the definitions here.

NE is not purely hausa, but is populated by "hausaized" peoples (kanuri and fulani.) I think it is fair to describe at least Nigerian kanuri and fulani in that way.