May this festive season fill the air with cheer and unity; we must reflect on our collective responsibilities as citizens and, more importantly, hold our leaders accountable for the promises they made before assuming office. President Ahmed Bola Tinubu’s recent commendation of the Federal Capital Territory (FCT) Minister, Nyesom Wike, emphasizes the significant role of leadership in driving national development.
President Tinubu, while praising Wike’s performance, stated that appointing him as FCT Minister was one of the best decisions of his administration. “Wike is a good man, and his quest to make things right in the FCT is commendable,” Tinubu affirmed. The President also touched on a critical issue: Nigerians’ reluctance to pay ground rent on time, labeling it as a challenge to compliance culture.
Ground rent, an annual fee paid by landowners in Abuja, is crucial for funding infrastructure projects such as road construction and other public services. Minister Wike’s warning about revoking property rights for defaulters reflects a broader strategy to enhance revenue generation for developmental purposes. However, these efforts are just the tip of the iceberg in addressing Nigeria's pressing economic challenges.
Nigeria’s economic difficulties, characterized by low growth, high unemployment, and underemployment, are exacerbated by immense infrastructural deficits. To reverse these trends, Nigeria can draw lessons from Asian nations like South Korea, China, and Malaysia, which achieved consistent 6–7% growth over decades. These nations embraced a government-led Keynesian approach, orchestrating economic development while leveraging market forces.
Heavy investment in infrastructure is critical to spur consistent economic growth. Projects in power generation, railways, roads, and housing can bridge infrastructural gaps and act as growth engines with significant multiplier effects. Although deficit budgeting may be necessary in the short- to medium-term, its long-term economic benefits are indisputable.
Agriculture remains a vital sector for economic transformation. Initiatives like the LAKE RICE project—a collaboration between Lagos and Kebbi States—demonstrate the sector's potential to achieve food sufficiency, curb rural-urban migration, and foster sectoral integration. Scaling such projects nationwide would have a transformative impact.
The dearth of long-term financing continues to weaken economic activities. Strengthening Development Finance Institutions such as the Bank of Industry, Bank of Agriculture, and Nigeria Export-Import Bank is essential. These institutions must be recapitalized and restructured to emulate global counterparts like the China Development Bank and Brazil’s BNDES.
By strategically deploying these institutions, Nigerian brands like Dangote Industries, BUA Group, Innoson Motors, and Zinox Computers can become export engines and reduce reliance on imports. Encouraging initiatives such as the Federal Government’s recent purchase of Aba-made boots for the police can conserve foreign exchange, boost local businesses, and create jobs.
Policies promoting Made In Nigeria products should become entrenched. State governments, for instance, should prioritize purchasing locally made vehicles and equipment. Regional economic integration projects, exemplified by LAKE RICE, can foster collaboration among states, shifting them from mere expense centers to economic hubs.
Low labor productivity, a significant barrier to economic progress, can be addressed through revamped tertiary education and vocational training. Equipping the workforce with the necessary skills will enhance productivity and position Nigeria for sustained economic growth.
The onus lies on both the government and the citizens. While citizens must fulfill their civic responsibilities, such as paying ground rent and supporting local businesses, the government must uphold its promises by promoting an enabling environment for economic growth. Leadership, as exemplified by President Tinubu through his commendation of Wike, should not be an exception but the standard across all sectors.
The festive season serves as a reminder of our collective aspirations for a prosperous Nigeria. With visionary leadership, strategic investments, and a committed citizenry, the nation can overcome its challenges and achieve its full potential. Let this season ignite a renewed sense of purpose for all Nigerians.
Written by Daniel Okonkwo for Profile International Human Rights Advocate.
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