Screeching to a halt! – 1

Maybe with the good news. And the good news is that at least we can write and speak about it and get a wider audience. Social media to the rescue. At least we can get some catharsis from venting our views on national issues. But the issues aren’t so national after all. These are issues […]

Maybe with the good news. And the good news is that at least we can write and speak about it and get a wider audience. Social media to the rescue. At least we can get some catharsis from venting our views on national issues. But the issues aren’t so national after all. These are issues of hunger and survival.
In 1981, through to say 1989, it wasn’t that easy. Many suffered in silence. Many did not even have the luxury of the catharsis I speak about. Fathers became distraught in the house, some became violent. Many became irresponsible, deciding to philander and bear children of different women in a bid to escape the reality. Truth is, the situation this time is potentially worse.
For one, population has ballooned. And also, how many times will we talk about the change for the worse in Nigerians. The desperation which filled the streets and was ignored by those who govern, as they seeped into our subconscious?  How do you do a hard reset on a country now wired to ‘get rich or die trying’?
By 1983 the civilians had had their fill. They were confused. There was hunger in the land. People could hardly find food to eat, even if they had money. Wicked capitalists imported food and decided to ‘go long’ on it, as one would a stock one believed in on the stock exchange. They hid the food, watched as people died on the streets and then released the food for a cool premium. Who cared? Amori ibaa ku? (so long as my family doesn’t die, who cares?).  Like 1983, like today, 31 odd years on. the question is; why do a people like to repeat their errors? Isn’t that what they call insanity?  
So here we are, and it seems certain that the economy is screeching to a halt. The government has released its plans for the impending scenario, which includes the rhetoric of Shagari in 1982, ‘Austerity Measures’.  No, you don’t get to the Structural Adjustment (SAP) part, until you approach the usual suspects for loans.  Keep your knickers on. But we may yet be on the way there.
Again; what is it that gets into our heads as a people that make us ‘trip’? How come we are quick to roll out the drums in celebration, only to pack up the party somewhere in between – when the champagne dries up – and hit the streets begging our neighbours for garri and rice?  What kind of financial planning will we call that one?

Tinubu and naira printing
Baba Tinubu came up with a salvo recently in his article on the same subject matter. The well-written and probably well-intended article basically urged the government not to go down the austerity route as this will further hurt the people.  He urged the government to instead consider printing naira while keeping an eye on inflation. He stated that if government spends on locally-produced essential goods, it will curb the effects of inflation than if it externalized its spendings. Good job.
I totally agree that austerity is a worn-out elixir that becomes the problem it claims to solve. But printing money ad infinitum…? Well, I urge caution. The problem will be how to determine just what amount of money to print, and how to ensure that inflation doesn’t totally run away, like they had in Zimbabwe.  Meanwhile, Zimbabwe had to resort to spending the Dollar as its national currency before the inflation abated.
On the subject of Austerity, it never worked anywhere.  It is just another way of wielding the big stick against the most vulnerable – the poor people.  If it didn’t work in Nigeria under Shagari, there is no way it will work in this now overcomplicated country of enemies where we have been made to dislike and distrust ourselves in the name of politics.
We warned, nobody heeded.  But at least, we can keep warning and speaking up. But Tinubu did not mention why Austerity does not work and in particular, why it will not work in Nigeria.  There are some nuanced issues with the Austerity approach.  For one, if the rich are also the most powerful, they will always ensure they get the best out of government policies, and then, what about the corruption issue? No one knows the limit of the problem Nigeria is in, than the corrupt people – whether in the private or public sector – who know just how mad things have become. These people have saved trillions of Naira in many accounts, home and abroad.
I am personally concerned about what is going on, because in the early 80s, my family was severely affected by the downturn, and that was how I grew up as an Ajepako, when I had been born an Ajebota. I have seen how the poor can be totally hapless, without a clue what to do to get the next meal.  Whereas I want my own children to understand the value of hardwork and diligence, perseverance and frugality, I wouldn’t want my enemy to go through some of the things I went through growing up. If I’m lucky, my enterprise today may see me through the coming downturn, but still, I’m vulnerable. I see around me daily, men, especially men, who have been locked out of the circles where money flows, and they give up, wondering what kind of life this is for them.

Why smart people do stupid things
Before looking at some practicable options, I would love to recall my recent article “WHY SMART PEOPLE DO STUPID THINGS”. Much misunderstood, like many things I write. Because I hardly write straightforward stuff. The article coincided with the opening – with much fanfare – of a multi-billion Naira stadium in Akwa Ibom.
I commended the beauty of the stadium, and the diligence of the governor, in ensuring that he at least achieved something in this land of underachievers, but I took the argument forward, that if it ever turns out that this economy will go into a painful recession/depression, with hunger in the streets like the early 80s, Akpabio could have become a smart guy, who did a terribly stupid thing – building a stadium when he could have saved the money for the rainy day, or built something that will generate good money for his state or reduce the expenses of his people on say transport, housing, food.
The basics is where we still are at in this country. Hygiene factor issues – food, shelter, clothing, and basic infrastructure like water, well-maintained roads, security. Dazzol. There is no need complicating the matter.
Akpabio’s Stadium pales into insignificance when one considers a recent news report in The Punch, with the title “Governor’s Houses Costlier Than Nigerian Universities” (November 8, 2014). The report did not generate the outrage it should have since our senses are now dead to scandals.
We learnt of how governors’ houses in Nigeria costs anything between N3 billion (Ekiti), N9 billion (Kaduna), N27.8 billion (Bayelsa) and N34 billion (Akwa Ibom). Nigerian governors are fixated on their egos. Fayemi and Uduaghan spoke about how their states did not have a ‘befitting’ mansion for the governor and the need to build one as a matter of priority or urgency.
Like we all know, projects are NEVER about the people in Nigeria. They are always about the politician whose ego is next to be worshipped. Sometimes I think Nigerians deserve what we get. After all, the debate on the street is still about the religion of our leaders. Let us keep fighting about religion and tribe.