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| Bassey James |
Buhari has declared that 2016 Budget will focus on diversifying the economy into non-oil export sectors. Do you see this working out well?
Buhari wants stability in all sectors of the economy. He is putting measures in place to enhance economic development, which prompted his visit to US and other countries to build bilateral relations that can pave the way for influx of Foreign Direct Investments (FDI) into Nigeria. He discussed with permanent secretaries of various ministries. This, I think will form part of his economic blue print for sustainable growth. For me, Buhari’s administration marks the new beginning for Nigeria.
Diversifying the economy with 2016 budget means Buhari wants to revamp the real sector to promote industrialisation. This is a good idea, but my appeal is for him to focus more on agriculture, entrepreneurship, human capital development, creating an enabling ambience for Small and Medium Enterprises (SMEs) to thrive, in order to create jobs. Let agriculture be revamped to be the mainstay of our economy like what obtained in the past. Before now cocoa, groundnut, palm oil and other commodities were produced in Nigeria and our economy recorded high level of growth.
We must not put so much emphasis on oil while other sectors capable of generating huge revenue for government are neglected. Government should develop other natural resources and put the right people in the right place for our country to move forward. The main issue is ability to sustain growth. A situation where states and local governments wait for oil money to pay salaries is not helping us as a nation. We need a vibrant economy like what obtains in advanced countries. We have natural resources in every part of the country. Let governors and local government chairmen go round their areas to see what they can produce to boost Internally Generated Revenue (IGR). Civil Servants must be productive to drive government policies and programmes. All the states must be productive and put something on the table, instead of waiting for federal allocation. A situation where people get rich over night from oil contracts must stop.
In the past, we had what was called River Basic projects, designed to develop agriculture, so, we can go back to that. For instance, about four local governments can come together to open agricultural development centre, define what food crops they want to produce . Before you know it, we will have enough food, and there will be market for export commodities.
CBN said further devaluation of Naira will affect the economy. What is your take on this?
Currently the exchange rate is high and devaluation is not the best option, as it will further weaken the local currency. The CBN should use monetary policies to shore up the economy. Most importantly, government must give banks a standing order to finance agriculture, SMEs and entrepreneurship to boost the real sector for greater outputs optimisation. At present, entrepreneurs are not assessing funds for investments, as many banks are not supporting them, while the few banks willing to give loan, give very stringent conditions.
Let the Federal Government order every state to issue Certificate of Occupancy (C -of- O) in not more than three months, because entrepreneurs find it difficult to get C-of- O after acquiring land legitimately. If as entrepreneur you have a project that can even create jobs, and tries to get loan from bank to finance it, the first thing bank will tell you to present is C-of-O. And without that, no bank will listen to you. So, the delay in issuing C-of-O is indirectly hindering creation of jobs. Government should collaborate
with local entrepreneurs to promote industrial growth, like it is done in developed countries.Introduction of Treasury Single Account (TSA) is still generating controversy in some departments of government and the banking industry. Do you think government’s supervisory role may relax after sometimes as many people are saying?
For me,TSA is one the best decisions that Buhari has taken, because aside from blocking leakages in the system, it will curtail misappropriation of public funds. TSA is the best thing that has ever happened in the history of Nigeria and I support it in all entirety. Now, banks will have to finance projects to make money and improve their margin, rather that keeping government’s money. Now is the time for banks to support SMEs for businesses to thrive across the country.
Apart from deposit banks, what is the role of Bank of Industry (BoI) in entrepreneurial growth?
BoI is doing something to boost SMEs sub-sector, but what they are doing is not enough. For more SMEs and Entrepreneurs to feel the impact, BoI should have offices in all the states where SMEs can easily have access to them. Also, all the in-coming ministers must have offices in strategic locations across the country and should get reports quarterly from the ministries to assess their level of performance.
What is your opinion on 50 percent pay cut for Senators?
It is a good idea, especially at the time our economy is experiencing shortage of revenue due to declining oil prices. Aside from salaries, allowances and travels should be reduced. Nigeria is now experiencing capital flight due to health tourism, and this must be addressed.
What is your take on Buhari’s decision to head the petroleum ministry?
We should see Buhari as a gift to Nigeria. As the President, he has the constitutional right to take certain decisions for national development. Also, he was petroleum minister years back and understands how that sector functions. So, he wants to bring sanity into the system. In doing that, he should display fairness, equity and a nationalistic approach. Also, Nigerians must realise that politics is over and Buhari is now the President of Nigeria and not a sectional President. We must give him maximum support to rejuvenate our economy. I commend him on his ability to handle the security situation in the country, especially the Boko Haram insurgency. Few months in office, he has demonstrated that he has what it takes to tackle insurgency.
With Buhari as President, can you say with all optimism that Nigeria will achieve the much talked about Vision 20:2020?
If Nigerians give Buhari their full support and stop politicising everything, we can achieve that Vision even before 2020, and in future our economy will be among the best in the world.
There are still issues of explosion in some parts of the country, like the one in Abuja recently.
But if you look at the way he tackles insurgency this short period, you will see that he is not relenting in any way.
You are also a criminologist, who is vast in security issues. What different approach will you advise government to adopt in tackling insurgency totally?
Collaborative security re-engineering is imperative. I want to introduce what is called Civilian Joint Task Force for government. This method requires the masses be involved in securing the nation. The security agencies of government should work in partnership with local communities, because the people know everybody within their communities, and once they suspect any threat they can alert the authority. Let the agencies meet with the communities to discuss either weekly or monthly. In doing this, traditional rulers can secure the country through their subjects. Such collaboration will support the efforts of government. The people must support those in authority instead of leaving everything for Buhari.
There must be effective communication between the people and government. Years back, we had what was called Community Guards in different regions, where the people came out to secure their communities. They did not carry guns, but they worked very well. I believe we can achieve much in security development if government works in synergy with the people. For instance, when the World Trade Centre in US was attacked, the Americans came together to secure their country. The Americans are united in securing and developing their economy, Nigerians must do the same. We must look at Nigeria as one nation and jettison party politics, religious and ethnic sentiments. This is the time for us to be nationalistic in our thinking.
Akpabioism Centre for Leadership Development, opened some years ago in Akwa Ibom State, has trained thousands of youths on different skills, while others benefited from a scholarship scheme. As the Chancellor of the Centre, what measures are you putting in place to expand your programmes to other parts of the country, in line with government’s policy on human capital development?
Since the Centre was opened, Nigerians from different apart of the country have benefited from capacity building programmes on various segment of the economy. We had an economic summit in Lagos where thousands of entrepreneurs within and outside Nigeria came. Some people came from China, Indonesia, Dubai and other places. In fact, the current governor of Akwa Ibom State, Udom Emmanuel attended the summit. He spoke extensively at our programmes held in Lagos and Abuja on investment opportunities in Akwa Ibom, even when he was not the chief executive of the state. We took the programme to Abuja for entrepreneurs from the northern part to benefit and it was well attended. We had foreign investors who came from out side Nigeria for that programme. We held similar programmes in Port Harcout and other parts of the country, in attempt to ensure that more Nigerians gain from it.
Can you tell us precisely what investment opportunities abound in Akwa Ibom now?
There are enormous opportunities. The state is strategically located to enhance investments inflow from Gulf of Guinea, Cameroon, Port Harcout, Abia, Cross River as well as other states within South East and South-South. We have an airport and Ibaka seaport, independent power plant, good roads and the people are receptive. Our governor has wealth of experience in economic and finance management. Now, Udom is working tirelessly to promote industrial growth in the state. He brought an auto company to the state. We also have a big cement industry in the area made possible through the effort of the governor. I am calling on all Akwa Ibom indigenes to support Udom, because he is the face of development we need. He has what it takes to turn the state around for greater prosperity.
Vanguard
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