Sobowale On Business

January 2, 2023

When presidential best is not good enough

old naira notes

By Dele Sobowale

“We are big in size and population, facing many challenges, but in many areas, we are trying. In seven-and-half years, I have done my best” – Muhammadu Buhari, December 14, 2022, USA

Poor Buhari, his last five and half months in office will certainly deflate his ego; based on self-deceit. When he announced on October 1 that he will be leaving Nigeria a better place than he found it, the avalanche of bad news which will disprove him were on the way. He declared, without offering any proof of the “many ways, we are trying.” Because that in effect is a meaningless statement, one might ask: trying to do what? If the situation does not improve, then trying has been useless. If the situation got worse, then the wrong things were done. You have been rowing the boat backwards all the time.

It is not surprising that only members of the All Progressives Congress, APC, who have everything to lose by admitting that Buhari’s eight years in office would have brought about the worst socio-economic disaster in the nation’s history applauded. Granted, ‘You cannot adopt politics as a profession and remain honest’ as L.M. Howe, 1871-1936, has warned us. But, Buhari/APC have taken lying as government policy to the Next Level; as they promised us in 2019.

Only Buhari, obviously living in the Stone Age, can still go abroad and tout Nigeria’s “big size and population as economic assets; instead of the liabilities they have become for us now. Those living in the modern age have long realized that land mass and population are only beneficial if the nation’s leader knows how to manage both. Buhari lacks that capacity. That is why everything he touched has turned to dust. This is getting repetitive and boring; but, let me, one more time count the “many areas” he and his party are trying to ruin Nigerians.

Population

“133 million Nigerians live in poverty.” That was the declaration by the National Bureau of Statistics, NBS, last month. That announcement provoked the same sort of reaction which characterized Buhari’s leadership right from the start. He quickly passed the blame to governors; while forgetting that the majority of them are in APC. He told Nigerians that governors steal their money. Is he just finding out? At any rate, 133 million Nigerians in poverty out of population estimated at 220 million makes population a liability; not an asset. 

Debt

“N42 trillion external and domestic debt, plus N24 trillion collected through Ways and Means have left Nigeria in a situation where our debt burden will certainly become unsustainable. Economic and financial experts were therefore not surprised by the report on December 12, 2022 proclaiming: “Debt servicing to gulp 123% of 2023.” The FG will again have to borrow to pay salaries and pensions in 2023. His next two successors will struggle to pay the debt.

Education

“20 million out-of-school children” is not what any leader wants charged to his account; as Buhari did. No other nation on earth comes close to this tragedy.

Infrastructure

“Nigeria’s infrastructure quality low, says World Bank.” 

That was a report on December 3, 2022; which also pointed out that Nigeria ranked 132 out of 137 nations surveyed. Is that a “best” for any leader?

Development

“Nigeria’s development slowed under Buhari –World Bank.”

That was another report released on November 21, 2022. The bank provided evidence beyond reasonable doubt. Here is some of it.

“Nigeria’s development progress has stagnated. Between 2001 and 2014 Nigeria was a rising star in West Africa, with average growth rate of seven per cent per year, and, it ranked among the top 15 fastest-growing economies in the world.

However, this trend ended abruptly as oil prices fell, security situation deteriorated, macro-economic reforms were reversed, and economic policies became increasingly unpredictable… At the end of 2021, Nigeria’s real per capita income had fallen to its level in the 1980s.” Should we clap? 

From 2015, Buhari had always refused to accept responsibility for results of his government’s policies and programmes. He still cannot grasp the fact that good governments borrow to finance programmes which will repay the loans and also earn returns on investment in addition. Borrowing to pay idle individuals, MDAs failing to generate sufficient revenue, to pay 44 ministers (half redundant) and to maintain Presidential Air Fleet amounted to paving to ruin Nigeria.

Insecurity

“Terrorists kill 55,430 in seven years.” Report, December 3, 2022.

With roughly 8,000 killed every year, 22 per day and one per hour under Buhari, it is simply astonishing that the man calls that his best. Allowing Fulani herdsmen the immunity to roam around the country and destroy farms and farmers, was Buhari’s singular contribution to the heightened state of insecurity in Nigeria. From 1960 until 2015, herdsmen never killed up to 500 farmers – under Balewa, Ironsi, Gowon, Mohammed, Obasanjo, Shagari, Military Buhari, Babangida, Shonekan, Abacha, Abubakar, Obasano, Yar’Adua and Jonathan.

Their atrocities began in 2016 and continue till today. Over two million farmers, nationwide, have been forced off the farms; thousands have been killed. If this is the best Buhari is proud of, what would the worst look like?

Corruption

“Hypocrisy is the homage vice pays to virtue.” 

The Buhari/APC government has been the most hypocritical of all. It started with the CHANGE slogan in 2014; it has ended with record corruption attributed to any predecessor. A few reminders will be sufficient to illustrate the depth of unprecedented corruption under Buhari.

“9 months after, $3bn Customs modernization project stalled; Nigeria mat lose $176bn. 

—VANGUARD, JUNE 6, 2021.

“Paris Club Refund: NGF took $100m for Ekiti, Ondo, Bauchi elections – CONSULTANTS —VANGUARD, AUGUST 21, 2022.

“NNPC not sincere about oil theft, exaggerating figures – Navy.

—Report, December 4, 2022.

The latest report by the Auditor General of the Federation, AuGF, was the 2019 report. In it, the most queried organizations under Buhari were the NNPC, Central Bank of Nigeria and Ministry of Finance. Altogether, over N12 trillion expenditures were questioned in that year alone. As for oil theft, even a dunce knows that government officials collect the lion’s share of stolen crude revenue.

Food insecurity

“Fake farmers benefiting from ABP – AFAN”, —Report December 8, 2022.

The All Farmers Association of Nigeria…said most beneficiaries of the billions of naira released by the Central Bank of Nigeria, under its Anchor Borrowers Programme were not Nigerians.”

One trillion naira went into the programme aimed at improving our food security. Close to half the amount is lost for good; and food famine had never been closer. Is that the best? Baba 80 should just go and rest quietly, please.