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Nigeria: An Economic Misnomer for Sixty-Three Years

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Economic Misnomer

By Enajite Enajero PhD

His Excellency,

Bola Ahmed Tinubu, President

Federal Republic of Nigeria

Dear Mr President,

I must first congratulate you for becoming the President of Nigeria. Nigeria is faced with so many challenges. The problem facing Nigeria is not only that of reducing poverty but also that of saving a chunk of humanity by creating the capacity to coalesce the most populous Black Country into the comity of developed nations.

Some might think Nigeria becoming a developed nation will not occur in the foreseeable future. The purpose of this letter is to assure the president that Nigeria could become a developed nation if only it applied the appropriate development model at its economic stage.  Also, the country’s future cannot be charted by only one person or a few people.  All Nigerians, especially those in the Diaspora, will have to participate either by relocating back to Nigeria or by contributing well-thought-out ideas from abroad.

In August 2016, I had the opportunity to interview with a University in Nigeria after numerous attempts to be on the ground in Nigeria or any part of Africa.  I had an interview with the same university five years earlier but was not successful. I believed teaching and researching in Africa would afford me the opportunity to feel economics as taught, discussed, and practised in Africa.  The continent has been brutalized by all human qualities measured by economic indices. Thus, it becomes imperative for well-meaning people with flowing adrenaline to tackle the economic challenges in Africa.

During the interview, after the introduction and discussions about the position, the first question given to me by one of the interviewers was: “Is Nigeria in a recession?” Surprised, but confirmed my fears during my school years that African nations, at their stage of development, were practising the wrong economics.  Is Nigeria in a recession? I asked myself, when was Nigeria at an economic peak? We know from the introductory economics discussing business cycles that a nation must be producing at a peak, when resources, especially labour, are fully utilized and then cool off to a recession. Since independence, one cannot point to any period in the history of the country when everyone who wished to work was employed in Nigeria. Characterizing the situation in the country as a recession at any time in its history is flattering but deceptive. Also, it is tantamount to describing a passenger jetliner as descending and about to land when actually it is sitting in a terminal, still boarding, and not even on the runway. It was a misnomer to construe any period of Nigeria’s economy as a recession.

Yes, the Nigerian economy is akin to other economies in Africa that are still “boarding” a gigantic jetliner at their stage of economic development. Unfortunately, mainstream economics does not emphasize the boarding stage because it would be contradictory to the basic tenets of mainstream economic theories founded on the concept of “rational choice.” These theories are constructed on “what ought to be,” an “ideal situation,” and the benchmark of efficiency. Moreover, these theories comply with the political principles of freedom and liberty. However, the economic history of developed nations would reveal that “what ought to be,” or an “ideal situation” may not be practicable. Therefore, at this stage of Nigeria’s economic development, it is imperative to discuss workable models. Before then, I wish to discuss the second question posed during the interview with my potential employer in Nigeria’s academia.

The next question during the interview was less shocking: “Do you believe in money as an economic tool?” I pondered again. In a society with scanty transactions and speculative motives for money, how does money work? Yes, I believe in cash; however, money works well depending on money demand, which is a function of transaction and speculative motives, aka, the financial market. There are no mortgage markets. Except for imports, there is no market for automobiles, no vast market for furniture and kitchen utensils, no market for repairmen, and very few borrow to start a business. All the transactions are “cash and carry.”

Yes, the central bank buys and sells government securities, which is the major function of notable central banks of the world, but how many Nigerians, retirement funds, or foreign investors are holding Nigerian government securities? If there is a money market, only a handful of Nigerians participate because the majority of Nigerians remain in a deep subsistence life, let alone invest their wealth in government securities.  In the early households, for example, the men were hunting, and the women were gathering; the households were independent of each other, and transactions were unnecessary. Thus, money was not needed.  Subsistence life in Africa is one rung higher than the practices of early humans.  Heavy transactions are necessary to make money meaningful.  For money to have an impact on the gross domestic product (GDP), transactions far above the subsistence level will be needed.

Perhaps, my interviewer meant M1 (coins, currency plus checking accounts), and not M2.  Even if he meant M1, the currency content of M1 in some countries is less than 50% of what is referred to as money in the economic sense.  Besides, billions of Nigerian currency, the Naira, were reportedly set ablaze for ritual purposes or buried in officials’ backyards and abandoned buildings because they were ill-gotten. In these scenarios, money defies its mnemonic role in society, because money is not in transactions and not in circulation.

Therefore, the two questions during my interview were intertwined.  A recession is when economic activities or transactions slow down, not because the price of oil dropped to $20-$25 a barrel as it was in August 2016. Theoretically, when the price of an essential input such as oil drops, it is good for business, and it is a period of economic recovery for most nations of the world. If it was otherwise in Nigeria due to sole reliance on one global commodity, that was not a recession; it was a result of economic dysfunction. Thus, Nigeria is operating a counter-cyclical economy. In addition, money matters in a society because it facilitates transactions. When transactions are flat, based on the quantity theory and the velocity of money as discussed in the 1970s, money is neutral.  Meaning it has no impact on output but only on prices.  That is the experience in many African nations.

A passenger jetliner must board all its passengers in the terminal before departure.  Nigeria and the rest of Africa seem to believe that they could skip the stage of economic onboarding, the development stage of making the economic man, the stage of democratizing the economy, the stage of mobilizing the people, and, best of all, the stage of creating an egalitarian society.  People are more crucial elements of an economy than oil and gas. People consume, spend, engage in entrepreneurship, and make transactions. Oil and gas do not. Therefore, the first stage of economic development is to be inclusive and induce people into making transactions. This agrees with the development theory in evolutionary economics that economic development occurs through changes in the ‘habits of thought.’  Thus, economic development must be people-focused.

For the new administration, it must not be business as usual and must realize Nigeria’s stage of economic development. Therefore at this onboarding stage, the federal, state and local governments need to collaborate and align the desires of the people with the development objectives of the nation. What are the desires of the people? Which goods are in the utility function of Nigerians? Utility is an economic jargon for satisfaction or pleasure.

To be less technical, I refer to the utility function as the happiness function.  What makes people happy in addition to food and clothing? They are standardized affordable homes, education, healthcare, and transportation. These are the lifetime ambitions of every household in the entire world to own and live in a home with inner plumbing.  They also wish their children to receive a good education, affordable healthcare, and subsidized public transportation. These could be produced by low-to-medium skilled workers that are abundant in Nigeria. Furthermore, affordable homes are, in the long run, self-financed, and it does not require Forex. Therefore, in economics, it is self-contradictory that a nation has homes to build, roads to construct, education, healthcare, transportation, and safety to provide, yet a good percentage of youths are unemployed. There is a coordination problem.

Fortunately, the process of onboarding, making money matter, and moving people from subsistence life are related. These are supported by transactions or economic activities. Any federal government administration, in collaboration with the state and local governments, can taxi the Nigerian economy to the runway, and ready for takeoff. The outcome of the appropriate policy could result in 25-30% GDP growth in the first year if properly implemented, and the rate subsequently drops gradually as the economy approaches its potential production level––That is, producing on the production possibility frontier.  Then, we are ready for capital accumulation, the second stage of economic development. Evidence in many developed countries began with providing these infrastructures (social capital), and then financial and physical capital started flowing in.

Therefore, Mr President, the purpose of this letter is for you to re-examine the existing development model of this country, whether it has outlived its purpose, and whether it is time, for the country to consider a different development approach2.  An approach focused on the people rather than oil for Forex for elephant projects, many of which remain non-functional after 63 years.  People are economic agents; they bear the burden of an economy, and they also ferry an economy through good and bad times.

Yours sincerely,

Enajite Enajero, PhD (Economics)

BSc (Accounting)

African Association for Evolutionary Economics

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Bridging Theory and Practice: Integrating Measurement Education in Tertiary Curriculums

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Integrating Measurement Education

By Philip Odiakose

As a public relations measurement and evaluation expert with more than a decade of experience advocating the integration of measurement and evaluation into communications and PR engagements, I have witnessed firsthand the knowledge gaps that exist in the field.

These gaps are particularly evident in how PR professionals and agencies approach measurement and evaluation. The reality is that the acceptance and best practices of PR measurement and evaluation must start from the classroom.

This is why I strongly believe that measurement and evaluation education must be integrated into the curriculum of Mass Communications, Public Relations, and Media departments in tertiary institutions. It is only through this structured education that we can begin to produce PR professionals who are future-ready, and equipped with the technical know-how to design, measure, and evaluate campaigns effectively.

The absence of measurement and evaluation in the traditional curriculum of many institutions has created a disconnect between the theoretical knowledge taught in schools and the practical realities of the PR profession. Most PR graduates enter the field with a strong understanding of communication strategies but little to no knowledge of how to measure the success of those strategies or how to leverage data for impactful decision-making.

Measurement and evaluation are not just add-ons; they are integral to ensuring accountability, transparency, and effectiveness in PR and communication efforts. Without a foundational understanding of how to measure impact, PR practitioners are left to rely on outdated metrics or superficial indicators that do not reflect true campaign performance.

In this regard, I must commend institutions that have made deliberate efforts to bring real-life and practical measurement experiences into the classroom. One standout example is Covenant University in Ota, Ogun State, Nigeria. Over the years, I have had the privilege of working with the Communications and Media Studies Department, thanks to Dr. Kehinde Oyesomi, who has consistently provided opportunities for her students to learn the basics of measurement and evaluation. This hands-on approach equips students with the analytical mindset required to thrive in the PR and communications industry. By exposing students to real-world applications of measurement, institutions like Covenant University are raising a generation of practitioners who will be better prepared to navigate the complexities of the industry.

Another commendable example is the initiative by the NIGERIAN INSTITUTE OF PUBLIC RELATIONS, LAGOS (Lagos NIPR), which integrated measurement and evaluation education into its curriculum in 2017. This forward-thinking move was driven by a partnership between P+ Measurement Services and the NIPR Lagos leadership at the time, under the chairmanship of Segun Mcmedal.

It is encouraging to see that this initiative has been sustained by the current chairperson, Madam Comfort Obot Nwankwo, reflecting a commitment to continuous learning and professional development. However, this effort must go beyond the Lagos chapter; it is my hope that the Nigerian Institute of Public Relations, under the leadership of Dr. Ike Neliaku, will recognize the importance of adopting measurement and evaluation as an integral part of the institute’s curriculum nationwide.

Education is the foundation of knowledge and practice. In the same vein, it is the starting point for the usage, integration, and acceptance of PR measurement and evaluation as a core function within the industry. Without education, we risk perpetuating the cycle of ignorance, where PR professionals fail to understand the value of data-driven insights and fall back on outdated or ineffective practices. To address this, the measurement community must actively champion education as a means to bridge the gap between theory and practice. This is why global initiatives like AMEC Measurement and Evaluation Education Hub under the leadership of Johna Burke are so vital.

As a founding member of #AMECLabInitiative, I am proud to be part of a mission that focuses on skill development, career progression, and knowledge sharing within the global measurement community. AMEC’s efforts to promote education in measurement and evaluation for public relations and communications are critical to ensuring that best practices are not only adopted but also sustained across the industry.

The value of measurement cannot be overstated. It is both the science and the art of public relations, providing a framework for accountability and a pathway to continuous improvement. However, to achieve this, we must first address the root of the problem: the lack of formal education in measurement and evaluation.

By integrating it into the curriculum of universities and professional bodies, we are not only equipping students with the skills they need to succeed but also ensuring that the industry as a whole evolves to meet the demands of a data-driven world. As I often say, “Education is the beginning, the middle, and the end of the acceptance and best practices of measurement.”

In conclusion, I call on tertiary institutions across Nigeria to embrace the integration of measurement and evaluation into their Mass Communications, PR, and Media curriculums. This is not just about equipping students with technical knowledge; it is about shaping the future of the PR profession. Measurement and evaluation are not static; they are dynamic, evolving with trends, tools, and technologies.

By embedding this education into the classroom, we are creating a pipeline of professionals who are not only skilled but also adaptable, innovative, and ready to lead. The future of PR measurement and evaluation lies in education, and it is up to us as practitioners, educators, and industry leaders to ensure that this foundation is built strong and sustained for generations to come.

Philip Odiakose is a leader and advocate of PR measurement, evaluation and media monitoring in Nigeria. He is also the Chief Media Analyst at P+ Measurement Services, a member of AMEC, NIPR and AMCRON

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How to Awaken the Conscience of the World?

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Immigration Quota World Map

By Kingsley Omose

Sharp conflicts have always indicated transformation points to the consciousness of the world and provided pivots. Pivot is a point of articulation, a point at which things balance.

Sharp conflicts, whether it is a world war or (war in) Iraq, has always indicated transformation points to the consciousness of the world and provided pivots to a new design of human actions.

Things change after the world is traumatised or the world has sharp military conflict or collision of the human will in the earth has always provided pivot points or transformation points to the world’s consciousness.

We look at these events, look at the terrible things that are taking place, but behind that we recognise the fact that things are shifting to new positions.” Dr. Noel Woodroffe on Core Imperatives for Successful Nation Development

Gandhi used the principle of embracing personal suffering from your oppressor without retaliation to wake the conscience of your oppressor and make him stop the oppression to free India from British colonial rule.

In doing this, Gandhi had pointed to Jesus Christ as showing the way to embracing the principle of embracing unjust personal suffering visited on him by those he came to save to awaken the conscience of humanity to the path of reconciliation with its Creator, God.

Gandhi set up unarmed Indian protesters to defy unjust British laws and policies and then for these Indians to resort with non-violence when the British Army made up principally of Indians visited them with violence in return.

While Gandhi used the principle from a majority population perspective, Martin Luther King Jr. took the same principle and applied it from a Black minority population perspective to awake the conscience of the dominant white population in the US to the evils of segregation.

He simply organised Black protesters to defy the segregation policy and not to respond with violence when the police in the South came to enforce segregation with brutality and unwarranted violence before the American media who were on hand to record it.

This was what gave birth to the Civil Rights Act in the US ending segregation and legal racial discrimination, amongst others. Hamas deviated substantially from Gandhi and Martin Lutther King Jr. in that its application of the principle was triggered through violence and killing of over 1,200 Israelis during its border invasion on October 7, 2023.

The issue before Hamas was how a minority population brings the attention of the world to Israel’s biggest open air fenced prison in the world with over 2.5 million Palestinians, and by extension, the issue of a Palestinian state.

First, without the knowledge of the 2.5 million Palestinians in Gaza, Hamas dug tens of thousands of kilometres of tunnels deep underneath Gaza.

Then, on October 7, 2023, Hamas and its allies broke through reinforced concrete walls separating Gaza from Israel, invaded some neighbouring communities, killed over 1,200 people, and forcefully took over 200 Israeli captive back with them into the tunnels underneath Gaza.

An enraged Israel with its Western allies reacting to what they regarded as a massacre swallowed the bait, and what the world has witnessed live on all media platforms in the last 13 months has been a morden defining of what constitutes genocide as the full military might of Israel and its Western allies was visited on an unarmed nonviolent Palestinian population in Gaza.

Make no mistake, implementing this strategy came at great cost to Hamas and its leaders, but what has shaken a watching world to its core has been the resulting violence and suffering visited on over 2.5 million unarmed Palestinians, mostly women and children, by the Israeli government and military with the support of its Western allies.

A peace deal has now been brokered between Israel and Hamas facilitated by Donald Trump using a 3-stage peace plan earlier put forward by the Biden administration, starting with the exchange of prisoners between both sides.

But be assured that just as happened in India gaining independence from the British with the help of Gandhi, and with the civil rights movement in the US spearheaded by Martin Luther King Jr., the Palestinian cause is now a global issue thanks to the actions of Israel and its Western allies in the last 13 months.

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Reflection on Groups’ Kindness to Alidinma Mixed Secondary and Ute Okpu Grammar Schools

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Alidinma Mixed Secondary

By Jerome-Mario Utomi

This piece was inspired by two separate but related events; the first has to do with the news report that Dr. Philomena Onoyona Foundation, in line with its vision of giving unwavering commitment to education and community development, recently made a strategic visit to Alidinma Mixed Secondary School in Agbor Alidinma in Ika South Local Government Area of Delta State, where it donated learning materials worth thousands of naira to the students.

The second and closely related to the above centres on the revelation that the Ute Okpu Community in Ika North-East Local Government Area of Delta State recently came alive as the 1990 Set of Ute Okpu Grammar School Old Students Association celebrated its annual reunion with a series of social responsibilities aimed at giving back to the society.

These activities, programmes and initiatives include but are not limited to; deworming of children aged 10 years and below, payment of tribute to the unsung heroes of Ute Okpu Grammar School, presentations of lecture series, bestowing of awards, testimonials, plaques and cash gifts on the school’s outstanding/dedicated teachers, staff, and alumni in recognition of their tireless efforts and unwavering commitment, and unrelenting passion for education.

At a glance, the above show of love by the Foundation and the Old Students Association portrays a bunch that recognizes Social Responsibility as an ethical framework in which individuals or corporations must act in the best interests of their environment and society as a whole, fulfilling their civil duty and taking actions that are beneficial to both the present and upcoming generations.

Beyond the donations, worthy of mention are their messages of hope and resolve to continually support both the present and future students within the state and beyond.

Take as an illustration, Dr. Onoyona underlined that the latest visit and donation of learning materials to the students of Alidinma Mixed Secondary School is the foundation’s way of raising from our community, academically strong and well-informed youths that will provide the future leadership needs of our nation as well as compete favourably with their counterparts abroad’’.

The Nigerian-born and U.S.-based social worker and advocate while calling on other well-meaning and quietly influential Nigerians to team up in her current quest to uplift less privileged and vulnerable youths out of poverty and illiteracy, added that this benevolent outreach which focuses on empowering students through provisions of essential educational materials such as school bags, relevant books, pens, and pencils, among others will continue and be extended to other schools within Delta state and beyond to equip the students with the tools needed to excel academically and inspire a brighter future.

In a related development, Speaking via a statement signed by one of the leading members, Chukwuka Justus Iwegbu and titled; The Spirit of Giving Back to Our Community and Alma Mater: A Tribute to the Unsung Heroes of Ute Okpu Grammar School 1990 Set Old Students Association, the Ute Okpu Old Students Association explained that the event which took place at Ute Okpu Unity Town Hall was a testament to the enduring spirit of the alumni association and its commitment to recognizing the contributions of its esteemed members.

“One thing that brought us together after so many years of leaving our alma mater is unity and love. We may not bother ourselves with the sung and unsung stories because we have a whole lot of members who believe in an unsung story of positive contribution and impact on the lives of others. Remembering our roots remains our major mandate and a call to duty.

“The Ute Okpu Grammar School Alumni Association, 1990 set, is committed to giving back to our alma mater and the Ute Okpu community. We believe that education is the key to unlocking the potential of individuals and communities, and we are dedicated to supporting initiatives that promote educational excellence and intergenerational change,” the statement concluded.

Without a doubt, it will be convenient for many to argue that there is nothing philanthropic to attract media coverage of such a low-profiled donation of learning material, particularly as the value of the donation in question is not measured in billions of Naira.

For me, there are lessons to learn from these groups and every reason to celebrate their actions.

First and very fundamental is the hidden truth that members of these groups are not in absolute terms wealthy, particularly going by Nigerians’ context and definition of riches but were predominantly fired by the burning desire to uplift the life chances of the poor and vulnerable in their environment through educational support.

Regardless of what others may say, this piece holds the opinion that these morally eminent men and women made donations to schools not only as a positive behavioural culture but largely in recognition of the time-honoured aphorism which considers education as the bedrock of development; that with sound educational institutions, a country is as good as made -as the institutions will turn out all rounded manpower to continue with the development of the society driven by well thought out ideas, policies, programmes, and projects.

Their action equally symbolises a bunch in consonance with the fact that it is our collective responsibility to ensure that our schools work and our children are properly educated at the right time.

With their culture of donating to the students’ welfare and comfort, the group, in my view,  amplified the notion that children enjoy the right to education as recognized by a number of international conventions, including the International Covenant on Economic, Social and Cultural Rights which recognizes a compulsory primary education for all, an obligation to develop secondary education accessible to all, as well as the progressive introduction of free higher education/obligation to develop equitable access to higher education.

We must also not fail to remember that a few years ago, the National Human Rights Commission (NHRC), in line with its mandate to promote and protect human rights, established the right to education as a thematic area of focus to drive its vision of having all children enrolled in school as well as to ensure that the culture of human rights is promoted and maintained in schools.

One common fact we must not shy away from as a people is that the crushing weight arising from education funding in Nigeria and globally has become too heavy for only the government to shoulder and that is another reason why the intervention/donation by these groups is most profound.

As we celebrate these uncommon efforts, the lesson we must all draw from the example of these groups is that it is time for all to collectively find creative and sustainable solutions to educational provision for all in Nigeria, especially for the children of the poor and lowly as these children deserve the right to hold all of us accountable.

If we fail to provide this traditional but universal responsibility to these children, their future will hang in the balance as a result of such failures. And chances are that most of them will run to the streets. And, as we know, the streets are known for breeding all sorts of criminals and other social misfits who constitute the real threat such as armed robbers, thugs, drug abusers, drunkards, prostitutes and all other social ills that give a bad name to society.

Utomi, a media specialist, writes from Lagos, Nigeria. He can be reached via [email protected]/08032725374

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