Wednesday, 22 March 2017

New Economic Development For Nigeria by Uche Okeke; Part 1

"Many societies don't start with a shared national identity, so the pull of local identity is very strong relative to national identity. There is no limit to potential tensions"-Professor, Sir, Paul Collier; (From Poverty to Prosperity; Understanding Economic Development, Oxford University), 2017.

Politics they say is the 'ordering of the society to ensure human flourshing while curbing hobbesian human instincts'. This requires great leadership with  great integrity to 'overide' local tribe or 'sub-national identity' to build a great nation.

In a heterogeneous society like Nigeria, the solution is to build a shared identity that recognises that the wealth of the nation belongs to everyone, and must be used for the benefit of all , not just few elites. According to Professor, Paul Collier; "Identities have to be reconciled with the distribution of the benefits of national resources".

 We must remember that Nigeria being an oil economy, oil is a depleting asset , is subject to volatility, and threats posed by technology. "You only need one technological change to wipe out rents in oil."

The country needs to embrace political and economic changes that  will lift ordinary people out of poverty and prepare its society for the challenges of the 21st century.

 Decentralization/ Regional Autonomy is one way we can achieve open democracy that is inclusive.

Federal Structure creates big government and kills incentive to save, rather wastes much resources to maintain federal power including on the next elections.

Uche Okeke.

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See More: Nigeria Should Start With Fiscal Federalism- Hon Olatubosun.
Why We Must Restructure Nigeria- Atiku Abubakar

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