Holding Leaders Accountable vs. Making Excuses, by M Yusuf
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Holding Leaders Accountable vs. Making Excuses, by M Yusuf
Andre De Guillaume quotes Edmund Burke in “How to Rule The World”: “Those who have been once intoxicated with power… can never willingly abandon it.” We have a choice between making excuses for leaders or holding them accountable.
Consider a leader demanding sacrifices from citizens struggling with hunger and harsh economic policies while living in opulence, spending public money on personal comforts like jets, yachts, and Cadillacs, and embarking on needless foreign tours with no positive impact on the economy or people’s lives.
Fuel prices have skyrocketed from N195 to N940-N1100, depending on the location. Where is the excess money going? The subsidy cabal, in collaboration with NNPC and regulators in the oil and gas sector, is sabotaging Dangote Refinery, while the Petroleum Minister remains silent.
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NNPC has four refineries, none of which are functional despite billions spent on Turnaround Maintenance (TAM). Yet, NNPC has made itself the sole buyer of Dangote Refinery, and the Petroleum Minister is looking the other way.
Is tax increase the only solution to our economic problems? What about increased revenues and FAAC sharing? Many argue that government has given palliatives to the people, but is palliative an economic model? Have we turned the country into a disaster zone where we must continue to live on palliatives?
For economists, does increasing tax during economic challenges make sense? We need leaders making sacrifices, headed in the right direction, and providing economic stability.
Currently, Nigeria lacks a clear roadmap for critical sectors. The question remains: are we on the right path? Agreed, we need patience, but that doesn’t mean keeping quiet when things go wrong.
Secondly, I have no problem making sacrifices on two conditions: leaders must also make sacrifices and we must be headed in the right direction. This doesn’t mean drinking garri, but living modestly with public money. Is this happening with the current public spending and overbloated political appointments?
The First Lady allegedly spent over N200m on event decorations in four months. No rebuttal from the government, which is alarming when beans are now a luxury, and gari and bread are no longer affordable.
The government’s handling of electricity is also concerning. Instead of ensuring stability, we have increased tariff and creation of Bands that typify apartheid in a free country. Why must one area get 20 hours of light while others get less than four hours daily? What is the government doing about generation, transmission, and distribution?
Apart from Buhari’s investments in transmission, what has Adelabu done in the last year to improve electricity supply except increasing tariff? We lack economic stability, growth, and development plans.
The current currency floatation policy for a net-importing nation cannot stabilize the Naira. It will increase the cost of doing business for government and citizens. CBN’s 800bp MPR increase in one year is alarming. Throughout Emefiele’s nine years, MPR increased by about 800bp, averaging 100bp per year.
Even with that gradual increase, inflation remained untamed. This is what the current Governor did in one year. No wonder we’re where we are, with daily experimentation with our lives.
How do we achieve stability when increasing production costs on both sides of major macroeconomic objectives: Exchange and Interest Rates stability? Instead of achieving stability, things are deteriorating. People’s purchasing power has reduced, the economy has slowed, and inflation is out of control.
Yet, they claim inflation has reduced by 0.25% while prices skyrocket. Where are our economists consulting for CBN? Are they afraid of losing prime contracts with the apex bank?
In summary, it’s clear that this Team Lagos lacks the capacity to solve Nigerian problems. We need Team Nigeria (experts) to tackle challenges and move Nigeria forward.
If Buhari was guilty of nepotism and tribalism, and PBAT is seen towing the same path, considering his kitchen cabinet and major appointments apart from Ministers with constitutional requirements, then he’s worse than Buhari.
I’m happy to be tagged an armchair critic. When you fact-check and find my claims true, I’m satisfied. If found false, correct me.
We can’t all be leaders, but leadership requires those in power to be above board, representing God on earth. PBAT wasn’t dragged from his Burdillion Road mansion to lead Nigeria; he fought for it.
To his credit, he said nobody should pity him, understanding the enormity of his task. So, why make excuses for a leader claiming to understand his job?
Nigeria, we hail thee. God bless my country, your country, and our country.
