Of Tinubu’s Cash Transfer Gamble And Commodity Boards Initiative, By Tunde Abatan
There is no doubt that President Bola Ahmed Tinubu, Nigeria’s 16 President is determined to change the narrative of leadership in Nigeria.
With far-reaching decisions on Fuel subsidy, the creation of a unified foreign exchange market, and a Loans board for students, all aimed at changing the narrative of bad governance.
But the recent decision to embark on Cash Transfer to twelve million vulnerable Nigerians has obviously taken the wind out of the sail of the President and his economic team.
Yes, palliative is necessary whenever economic condition of citizens are threatened but as it was with other ‘public spirited’ initiatives in the past, sending cash gift to unverified and unidentifiable poor citizens has always ended up enriching the corrupt kleptomaniacs in and out of government who are always there to feather their nest and compound the misfortune of Nigerians they seek to help.
It is clear to all and sundry that Minister for Humanitarian Affairs, Sadiya Umar Farouk, did collect humongous amount of money running into hundreds of billions for disbursement during President Muhammadu Bihari’s corruption-infested regime.
But yours faithfully has never come across any helpless citizen who benefited either directly or indirectly from. the scheme which ended up in a scam.
It ended up as money for the ‘boys’.
The same is the open dole out of money especially during the 2019 general elections by Vice President Yemi Osinbajo.
In the eyes of all, beneficiaries of those cash inducements remain market women and party members who daily root for the then government.
Let a survey be conducted to determine what has become of beneficiaries of the two programmes.
What is discernible to all is that civil servants, and politicians in high and low places smiled to the bank while the deception of the gullible remains till the end of Buhari’s government.
Except, thinkers of President Tinubu could convince Nigerians that it has the magic wand to ensure the Cash Transfer gets to hapless Nigerians it is meant for, the programme will end up like the previous ones.
For a government that is committed to improving lots of citizens who were sapped of recent by the Central Bank of Nigeria, CBN, Godwin Emefiele’s evil currency swap, the Cash transfer will remove any Hope in the President’s Renewed Hope agenda as it will only succeed in renewing graft and diversion of scarce public fun into private pockets.
One would have thought that giving out a princely N15billion naira each to Nigeria’s 36 states to provide infrastructural projects like roads, rail and electricity will create more jobs at the local level and reduce poverty rather than the monthly ‘sara’- sacrificial gifts which is meant to raise the hopes of the poor for six months and allow beneficiaries to remain poor and Hopeless.
Compelling the states to spend the money in all its local government and the National Assembly to set up an Ombudsman to track this in the 774 councils will have far reaching multiplier effects on the poor and the downtrodden.
You tell me what effect the eight-thousand-naira Cash transfer will be on states like Ogun which border areas like Ijoko, Agbado, Oke Aro and Alagbole with millions of neglected populations over the years have remained below globally accepted living conditions.
Life and living in such areas with no known infrastructure in the past twenty years is as meaningless as the tokenism.
Since the cash transfer will be eaten up by the dearth of roads, electricity, health facility and other infrastructures which has increased poverty level in such promising communities with population brimming to it seems.
Yours faithfully, has never known any part of the country which governors has increased poverty on its hapless citizens than Ogun in the face of glaring opportunities for development by its closeness to Lagos, one of the fastest growing economies in Africa and fifth largest.
The neglect in the areas and others by successive governments is more criminal than Emefiele’s cash squeeze.
Time is of essence in President Tinubu’s ability to take realistic decisions that will not end up multiplying the corrupt system he inherited from his predecessor in spite of his promises when he was campaigning in 2015.
Commodity Boards:
The plan by the president to reintroduce commodity boards which were scrapped in the early 80s by spineless government as a result of Petro dollar is welcome development. It is if properly implemented.
Indeed, setting up such boards to cater for Cocoa, Cotton, Palm oil, Groundnut farmers and all other hitherto cash crops in the first republic before the discovery of Petro dollar, is a sure way of returning the country to realistic agricultural revolution.
Nigeria spent a whooping N1.9 trillion in 2022 indicating a 5% decrease from the previous N2trn spent in 2021 according to the National Bureau of Statistics.
This figure accounted for 7.29% of the country’s total food import for the following years.
2020-N1.2trillion
2019-N959 billion (5.68%),
2017-N886 billion and 2018-N857.6bn.
Above figure shows that Africa’s most populous country failed to provide more food to feed it’s geometrically increasing population in spite of the latent flood of 2022 which destroyed 90% of major crops.
Hence, pumping out N500bn over the next six months to improve infrastructure in the 36 states and 774 local governments will have multiplier effects on food chains like youthful employment, as energies will be directed at boosting food production which is a consequent result of enhancement of infrastructures like roads, electricity.
Besides, it will increase Gross Domestic Product, GDP, as local food production and availability is increased by construction of rural roads and end the corrupt ridden Rural Electrification Agency, REA manned by Buhari’s henchmen who are untouchable while his eight years rein lasted.
Pumping the N500bn into states will activate our various Agric universities producing thousands of graduates looking for jobs rather than being employers of labour.
Providing infrastructures in the states and local government will reduce importation of obsolete agriculture machineries which will only enrich and provide jobs for Western nations.
Revitalizing our moribund Agricultural and Rural Training Institute, ARMTI, will stimulate production and fabrication of local farm tools and upgrading for relevant locally fabricated machineries to reduce importation of same.
Time is for our Presidents Economic Team to think out of the box if indeed the elusive Hope of the last thirty years is to be redeemed.
