Of Emergency Powers and Trust
There is a divide on whether the president should be granted an Emergency Economic Stabilisation Bill 2016. From the perceived intentions the Vice president highlighted, the means to resolve some of the bottlenecks affecting the progress of economic activities and foreign investment flows, sounds laudable and the intentions seem right if the alleged revenues to be generated from sales of government assets can be transparent. Will some of these government assets include JVs?. To be sincere this does not look plausible with the grandiose revenues to be generated.
There is also the stress of spending out of the present recession without a coherent measure of monies to be generated. Let’s assume these monies claimed to be generated were accomplished, Nigerians wouldn’t be surprised if 90percent was spent on defending the Naira, since the presidency and CBN have ran out of ammunition. With this sheer ignorance continously exhibited by the government, foreign investors would prefer flying East of Africa to invest. There is no gainsay in the present administration’s confusing fiscal and monetary policies coupled with a slow start in stimulating economic reforms to enhance ease of doing business. So far, as much as the intentions for the bill looks appropriate, caution should be taken in granting such enormous powers to the president…..
Why Should I Trust Him?
This is a democracy and it seems everything in our democracy was either hacked or never programmed. The president has not convinced me enough to grant him Emergency Powers. What about you, has he convinced you enough? Especially the areas of Public Procurement Act, knowing critically how that section is connected to patronage networking and political clientelism, this might be suicidal owning to how power intoxicate leaders. Many call him names but I will prefer to stick with ‘Bubu’. These efforts to be implemented by the government looks a bit late but can savage it if they can strategically invest in infrastructure and reduce political expendiency but might not listen because the Nigerian project prefers building a railway network in Abuja connecting it to Kaduna without thinking of a market.
Sadly, the president has not done enough to justify vesting Emergency Powers on him. One can not blame the other side of the divide clamouring for an oppose to such bill. If critics of this government have gone missing only to be found in EFCC cells where mosquitoes abound in manifold then imagine his actions before 2019, almost every wailer will have mos-uitoes play such beautiful rendition in th-eir ears. Honestly, the motive sounds right regarding the need to focus on the economy without being partisan and accelerate these reforms but giving Oga Boss such powers should be critically examined.
To get a full gist of the bill, this link should help: http://thenationonlineng.net/buhari-seeks-emergency-powers-tackle-economy/