AN ECONOMY IN COMATOSE

By:
Ajukura, Fidelis O.
ajukurafidelisobi@gmail.com
19th November, 2023.

When something is in comatose (coma), it is said to be in a state of profound unconsciousness caused by such things as; sickness, poison, accident etc.

The word comatose here is used to describe the economy of this country. The economy is the base of every society. It is through the economy that a society is adjudged to be making progress or not. Economy does not exist in the blues, it subsists in a society and is driven by individuals and institutions (both public and private).

The economy of this country has been on a consistent descending order. Administrations have risen to power on allegation that the preceding one is terribly enmeshed in corruption and mismanagement of the country's resources and; therefore pledges to offer a lasting solution. But what do Nigerians get or see at the end of the day? The new administration bastardizes whatever is left of the economy such that the previous administration is considered saintly. This dreary situation has continued till this day. As a matter of fact, many people dying do so as a result of starvation and depression. Nothing seem to be working! The only thriving venture is politics. Only politics has the capacity to catapult an individual from abject poverty to affluence within a space of one to four years. No wonder people do everything humanly possible to win election: they cheat, maim, kill etc just to be there! Because of this culture, all manner of nonentities gravitate towards the political arena while those with the requisite credentials and charisma watch from the sidelines.

The lack of proper upbringing, moral astuteness, integrity, intellectual and managerial capacity of our leaders have precipitated our economy into a downward spiral. In the history of this country, there is no administration that has outshined or outperformed its predecessor. This pattern of movement has continued unabated such that our economy is today in comatose or what can, in Nigerian parlance be described as "push and start". Our refineries are dead: they have been replaced with a corrupt and fraudulent arrangement of importing substandard petroleum products into the country. Recently, the Bola Ahmed Tinubu led administration removed the much touted 'fuel subsidy' which has remained an albatross in the petroleum sector. This decision has escalated the hardship and suffering in the land so much so that many people are yearning for a return to the subsidy regime.

With the hardship plaguing the land, many Civil and Public Servants have been reduced to objects of mockery. With their abysmally poor remuneration or wages, they cannot afford to train their children in private schools that are driven by profit margin: only those who have found a way to get extra income through sharp and dubious means are able to weather the storm of hardship.

I was inspired to do this writeup when I got reminded through an article I was reading this morning that; slightly above three decades ago, a litre of fuel was between #45 and #60. A bag of cement was just #38. Today, a litre of fuel is almost #600 and a bag of cement is #5,500 in some areas. When I saw the sales invoice of 40 bags of cement sold in 1989, I was amazed. The cost of the entire 40 bags was #1,520. Today, 40 bags of cement is #220,000. Given this background, how can a honest and dedicated Civil or Public Servant build a house for himself? This situation is not in anyway limited to cement and fuel, it cuts across every conceivable aspect of our society. The implication of this situation is that majority of Nigerians are under immense pressure; they go about with so much anger, frustration, bitterness etc. How can Nigerians get out of this mire and also change the narrative of the preceding administration/government doing better than the succeeding one?