President Buhari, Sell Our National False Sense of Security Called Asset! -By Micheal A. Adeniyi

Dear president Buhari, I cannot forget that our country is in dire financial straits. I know you could have accepted the conditions of the IMF and World bank before they can bail Nigeria out of recession, but you prefer to save us from their traps! Tho most of our unexposed educated experts sings an anthem of “Go for Loan” so that the mortgaging of our future would continue to thrive that we may lay debts on generations to come, we are supposed to be developing!. Mr President who your currency devaluation don epp! Even the total ban of food import like rice is like putting the “cart before the horse” not considering proper commercialization and effective distribution of Made in Nigeria products and Agricultural produce, now your catastrophic bans lives on as our made in Nigeria rice leaves unto other countries far and near leaving us at the mercy of shortage. I can perceive bad influence all around you sir! I can’t keep blaming you for all your faults, where are those ministers and advisers to help you, are they not strong enough? Sai Baba why we no get diplomats sef! not even Diplomat to the UN. At least you have self-respect of Integrity and you wanted a bit of it for this country we could not but say thank you for knowing that we can’t keep borrowing for development like the past military and bureaucrats government befor you who put our country on a steep downslide.

They got into political and economic pacts of corruption, they collect immense loans called aid and looted it, they borrow to pay salaries, they can’t maintain our national assets.

How many of our national asset could be regarded as our national and economic security, Is it our refineries, Your fleets of Jet, and so on, absolutely None. We can’t keep selling to settle debt anymore in this nation! It is time to Make or Break Nigeria sir, our hope is all in you. I know our National assets are a permanent value belonging to us, it is our country’s inalienable asset, but are the current asset on ground of value to a developing nation like ours? Mr President the same assets like Nigeria Liquefied Natural Gas (NLNG) which generates over $22billion per annum for our country is very much of value to our economy, others keeps gulping our national budget without yielding any positive income. After spending Billions of Dollars on our refineries it has not been functioning. Sir, the Government can contine to be the highest shareholder and sell more share in Joint Venture Companies (JVCs).

I think the Nigerian Senate can also be scraped, it is also a national asset and this will save us 500bn per annum to run a better economy, sale of some aircraft in the presidential fleet would generate more fund, sale of our never working Kaduna refinery, Warri refinery, Port Harcourt refinery. Hope you know that seized Properties from looter is also a national asset that must be sold. Mr President what would you do when your family gets into financial problems? You sell a part of your assets for temporary relief and buy them back, build new ones or buy better things in the good times or when the financial condition improves and when government dilute the equity and follow a moderate privatization drive to raise money to invest in diverse sectors of the economy.

This is the way Nigeria can come out of the recession faster and build an economy with 10-15 % GDP growth every year or more. Mr President Nigeria’s parallel economy is much bigger than the economy of taxes . This dormant assets need to be turned to money and brought back into National investment. After selling this assets the income should be budgeted and linked to committed outcomes and deliverables and then ministries should be held accountable.

The focus should be shifted from exercising controls after budgets have been approved to rigorous critical scrutiny before a budget is approved and then devolving and delegating powers in a way that delivering budgeted outcomes is a sacrosanct contractual responsibility.

These are simple, tried and tested techniques every good CEO knows about.

@9jaclicktivist