ECONOMIC STRATEGIES FOR NIGERIA
I’m still discussing the low-hanging fruits that President Tinubu, current governors, and legislators can harness to stimulate our economy. Let’s move away from ambitious, costly projects like gas conversion, which take time and money. Instead, focus on making our refineries operational. As I mentioned before, if the refineries are functional, fuel prices will decrease, and we won’t need gas conversion as urgently. We can introduce it gradually if needed.
Secondly, why is the dollar rising against the naira? We, as leaders, are not being sincere or reasonable. Why must we import SUVs with foreign currency from Japan for legislators, governors, and ministries when Innoson is producing cars locally? Buying from local manufacturers or assemblers would support our economy, grow their businesses, create jobs, and reduce our import bill. Why are we undermining ourselves by purchasing vehicles for those who can afford to buy their own?
Another issue is training abroad. Why can’t Nigerians use facilities like the Udo Holiday Resort for training? It’s as beautiful as any international venue, and training here is cheaper. There are capable Nigerian experts who could provide better services locally. For instance, someone told me she pays a consultant in her home country, and I responded that my expertise is unmatched, regardless of where one is located. I offer discounts at my own discretion and am proud of my knowledge and skills.
We should stop relying on foreign training and pilgrimages, which haven’t changed our perception of life or improved our situation. We know our problems better than outsiders and should focus on internal solutions. International institutions like the World Bank don’t fully understand our needs. By addressing these issues locally, we conserve foreign exchange.
Additionally, consider the Aso Rock Clinic. At one point, Buhari’s wife noted that there was no Panadol available, despite the clinic’s budget being higher than that of all 16 federal teaching hospitals combined. Why not invest in equipping major teaching hospitals like UNILAG, Ahmadu Bello University, and others across Nigeria? Instead of foreign trips, we should enhance our hospitals and provide air ambulances to transport patients. For instance, in Brunei, they use helicopters for urgent medical transport.
Regarding road infrastructure, why do our roads deteriorate so quickly? They are poorly constructed, and their lifespan is only 20 to 30 years. Heavy traffic from trailers and tankers exacerbates the problem. The proposed Calabar-Port Harcourt rail line was abandoned. We should focus on building and maintaining functional railway lines to reduce the demand on road transport and fuel, and to decrease road accidents.
In Lagos, if the railway line from the border to the city center had been completed, traffic congestion would have lessened. I’ve experienced bad roads in various locations, including Festac, Rock View Hotel, and other areas. We need to concentrate on maintaining existing roads and developing railway lines rather than pursuing costly, speculative projects.
Concrete roads last longer, and we should prioritize their construction. This is part of the dialogue I had with a senior colleague, who agrees that we should share these ideas with the government. Those who listen will understand that both the elite and the general public are suffering.
I remain your friend, Dr. Charles Apoki.
