![[OPINION] Why Buhari Should Stop the Probes](https://nairametrics.com/wp-content/uploads/2015/08/Buhari-Confused.jpg)
I think we are back in 1983 when the only agenda for the Buhari/ Idiagbon junta was various wars against corruption and indiscipline. Nigerians where herded into various prisons with unimaginably long prison spells and this in itself further stunted the economy and turned us into a country of zombies.
Today in Buharis reincarnation, we see the same cycle. All we hear are stories of probes, anti corruption , cleaning up the Augean stables, repairing the damages and destruction caused by years of looting by the last Government. What we have not seen, is a clear vision of the direction the Government will be taking on moving the economy forward, opening it more to investments and further preserving the middle class created during the Obasanjo regime.
I just woke up to the news that more probes are coming, parastatals like NPA, NIMASA and the like would be subjected to probes. What this does is that everything comes to a standstill as key officers are usually placed on working suspension, accounts frozen, and policy execution and implementation suffers a freeze and its effect on the economy cannot be quantified.
My question is, do we really need these probes? What are the economic benefits to us when we will still spend years to recover the looted funds. All the probes during Buhari’s military adventure are only just leading to some of the funds coming back almost 30years later. I think we have clear and present issues that this Government should tackle and leave all this probes alone. What I am seeing is a paucity of vision as to the way forward hence the need to hide under probe as the main focus of the Government while leaving all stakeholders guessing as to the direction the Government will take on the economy.
The last visit to the U.S was an ample opportunity to open up the economic direction, seek the support of the international business community and push for favorable policies from the western Government towards our attempt at rebuilding our economy along very clearly stated economic angles. But no, what did we get, the continuous cry of the Jonathan Government looting the country, a request for arms to fight Boko Haram(which in itself was ok), a list of economic looters and the earth shattering revelation that $6b had been looted.
We need vibrancy in the management of the economy instead of the present situation where the CBN Governor has been left alone in the battle for the Naira without fiscal support. No cabinet to forge and endorse a workable economic policy thrust. Inflation is beginning to climb again, the Naira is taking a beating, the stock market is almost comatose and all other sectors of the economy are in their very last breathe. The only sector still thriving is Nollywood, did you see the figures from the breweries sector, a sector that normally thrives in a slump. All indices are down and the government is busy probing and shutting down the economy.
As a money manager, I feel this directly as we are seeing the growth in FDI stall and also foreign money managers also taking their time to play in our markets because of this seeming uncertainty. Buharis recent instruction that the pipe dream of a National Carrier be immediately resuscitated, in my mind has further driven the death knell into my hopes of an economic resurgence under this Government. What we are looking at is big government, centralized direction of the economy, Government control and its attendant inefficiency in managing what should be private sector driven. This shows very quickly that the military mentality is rife, that we are back in the 80s.
Another bad and gloomy sign is the resuscitation of the refineries and the sack of NNPC top honchos and immediate appointment of a new helmsman and refusal to take a definite position on fuel subsidy. A forward looking Government should be looking at privatizing all these dragons and limiting itself to a regulatory role. All this will lead to the continuous contraption of the economy and its adverse effect on the poor people who voted for this messiah.
We need to free up the economy that was what Obasanjo did. Open up the space, create an enabling environment, push very credible fiscal and monetary policies, plug leakages,pull back from the management of the economy and watch the 170m highly productive Nigerians build an economy that should in ten years rival the economies of the Asian Tigers, till then we continue to wallow in the darkness and aimlessness of a newly minted democrat with the brains of a military despot. Welcome 1983.
![[The Nigerian Economy Daily] FG has approved the closure of five foreign missions and embassies](https://nairametrics.com/wp-content/uploads/2017/05/nigerian-economy-today-1.jpg)
Your argument is very short-sighted.
The reason why the probes are important is because the foundation of corruption in which Nigeria social and economic life is built has not benefited the vast majority of Nigerians. To build a 1st World economy, we need to establish the rule of law, not by paying lip service to it like previous but by ending the culture of impunity through probes and bringing culprits to account. Without these reforms, successive governments will be worse that the other in their bid to outdo the excesses of their predecessors.
Need proof? look at all the governments since Nigeria, corruption has been worse in every administration with the final straw being Jonathan’s government.
On the need for a clear strategy for economic revival, I think Buhari has been clear that economic security can only be sustainable when you have physical security (from Boko Haram and other criminals), legal security (protecting contract laws), and good leadership (by doggedly searching for untainted people to work with him).
Nigerian’s voted for Change. Real change, not a continuation of the failed strategies of previous governments.
Thanks to the previous comment, Very true that this anti- Probe writer is short sighted and anti- Realistic.
You sounded #ProJonathan and if I am Right it is so Bad that we have too many unbelievers against the good Of Nigeria.
If their are no probes, that means you prefer injustice, and an indirect support of corruption, you are not fair with your school of thought and that is anti-Patriotic of you.
Before any organization can progress, wrongs should be identifies and punished to inform successors to stay off corruption and if you think that is wrong, I am very sorry for our dear Nation.
I’m not for #Buhari, I and never for #Jonathan because he failed #Nigeria, but I’m for whatever helps the growth and peace of the federal Republic of Nigeria, and the present Administration is already convincing me of the capability to be what Nigerians have long waited for.
“My question is, do we really need these probes? What are the economic benefits to us when we will still spend years to recover the looted funds.”
— Yes, we do.
— Economic justice is a fundamental condition of democracy.
— The economy needs to be ‘freed’, yes; but it also needs to be freed from corruption.
— The money management view does not work in the larger picture.
— And, politically: this is the raison d’être for Buhari’s candidacy; if the APC is to stand another chance the next time, this the party must do.
.
Anti-probe writer, how much were you paid?.
Yes we need the probe; also i strongly disagree that the emergence of functional refineries is a bad approach; your focus wason one direction which is quite myopic a functional refineries will give a clearer picture of what direction we should go ; if the subsidy should stay or go; also afunctional industry will also ease unemployment irrespective of ownership; you also need to know that NNPC has a regulatory role and has empowered a lot of Joint ventures and more needs to be done ; more JV;s in this sector will bring about expansion.
The probe is very key; as the adherance to the rule of law is very key if whatever economic approach is to be sustained.
I only need PMB to give us timelines to these probe and a clearer picture of what happens next after the probe, and a picture of capital projects that he plans to excute in other to have some infastructural development.
Mr. Joseph Edgar, while i am restrained civilly from using some derogatory words, you must know that you are part of our problem in Nigeria. How can a nation truly move forward when corrupt individuals have milked the nation dry in excess of 11 trillion naira under just 5 years ?!…. Lord have mercy on you and your ilk. I choose not to be polluted with your thought process.
Our governors should stop building airports for political gains. For example the airport in Lagos can serve Ogun state very well, by building high way that will link the two states thereby, opening up economic activities along the route. Airport in Akure and Ibadan can serve Ekiti and Osun conviniently.