By Our Correspondent
The Federal Government has been advised to go for the option of borrowing massively to draw the nation out of the current economic hardship.
A regional think-tank group, the South-South Reawakening Group (SSRG), which gave the advise in its State of the Nation message, delivered by it’s Convener, Joseph Ambakederemo, also expressed its disapproval of the idea of selling off of national assets.
SSRG, in its message which focused on the Economy, Politics, the Niger Delta and Corruption, observed that the current economic debacle was created by all Nigerians, especially the political class, which failed to invest the surplus of the last few years into development projects and diversify the already over-laboured oil economy.
Lamenting the lack of vision and the culture of waste by past administrations, especially in the last 5 years, the body noted that individuals and state governments, by their practices, help to kill the economy slowly.
“The recession that we experience now does not just happen overnight, it is as a result of decades of planlessness, mismanagement and corruption.
“As identified earlier, in addition to planlessness, mismanagement and corruption, we are a heavy consumer nation and minimal production levels that could not sustain any meaningful development and less emphasis on our human capital development, which in real term should be our strongest selling point with cheap labor in abundance.
“In a country where we are proud to import toothpick from China and Dubai, Irish potato from South Africa, sugar from Brazil, fish from Mauritania, Morocco and Norway , Toamato Purée from China and Italy, water from France, rice from India, Pakistan, Thailand, Vietnam, palm oil from Malaysia, and Indonesia, polypropylene and carbon black from China and Southeast Asia and so on
“All of these are paid for with our paltry foreign exchange, which we have managed to earn from low oil prices even when all of these materials and food items mentioned are available in abundance here in Nigeria, nothing tangible has been done over the years to ensure that we become self sufficient of them.
“In trying to pull the wool over our eyes we were taken on a fantasy ride the last five years when we were told that Nigeria has become self sufficient in rice production, meanwhile all the 36 State Government Houses across the country that usually purchase rice for sharing to people in their states never bought the so-called Nigeria grown rice, all the rice so bought had been foreign rice and mark my word let us check the brand of rice the Government Houses will share this Christmas.
“Some state government engaged in direct importation of rice to share during Christmas. The question to ask is can we imagine the economic boost and the benefit to be derived if the money paid out by theses Government Houses are given to rice farmers across the country, I am sure your guess is as good as mine.
“As we speak billions of Naira is still being spent for the importation of rice meanwhile, the entire swamp that we have in the Niger Delta is fertile for the cultivation of swamp rice. Meanwhile, Governors cannot pay salaries, local Government cannot plant rice to fend for themselves, we all are waiting for Abuja to share oil money”, it said.
On the sale of national assets debate, the SSRG voted against the call to sell, saying “our position is hinged on the believe that the recession is temporary, it will not last forever, countries have passed through this path before and they came out strong due to the dexterity that was employed by the managers of their economy and more importantly the support of their citizens, we advocate such for our country and call for the support of all Nigerians”
