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Nigeria and economic development by Ishowo Malik Ayomide


Nigeria and economic development by Ishowo Malik Ayomide


The Nigeria economy has experienced major deterioration despite attempts at reform. The economy has infact performed below potential. The Economic growth has however been stunted due to inefficient system, corruption, self political interest, and lastly weak infrastructure. However, with the absence of socio- economic governance, development can never thrive.

The National Assembly is of the view that suitable entry points for promoting our economic development include macro economic stabilisation policy, determining economic structure, delineating roles of public and private sectors and regulating ownership and control.

Yesterday afternoon I was hearing the chanting that about #470Billion would be allocated to ASUU from the Budget allocation, in which the union however kicked against. It was then I started meditating of the economic bad system of how about just #470 billion naira would be shared to ASUU out of the huge amount of money that would subsequently be allocated to different other sectors.

However since my inception to the world and even these days that I have been seeing the budgetary allocations of the country. I could however point to the security sector taken the larger amount of share of our national expenditure. Yet, the insecurity is extremely mounting.

The future of economic stability of Nigeria depends on creating an environment in which people with capital to invest and create jobs will want to risk the capital. And they will only risk that capital if they feel they are operating in a country where all the principles of good governance are observed. It is not about foreign trips or jamborees, ostensibly in of foreign investment.

Moreover, Nigeria’s have witnessed serial violations of their rights in very many areas. One of such areas is the area of the internal security. In this area thousands of persons and people have lost their lives and even their family lives on the account of bombing and destruction associated with the present insurgency in the country. In addition, thousand of persons have also been displaced and also properties worth billions and millions of Naira have also been destroyed and annihilated. And yet we are allocating the lion share of the budget to the security sector. Now my question is whenever the money is being allocated to them, what are they using it for? Is it to protect the lives and property of the people or for just for self aggrandisement among each other in the sector???

So sad and disheartening that we now have many widows and even several orphans who can’t explain the offence their beloved families committed that led to their sudden and untimely death. We also have several other people that their state of living has beem deteriorated due to lack of adequate security and protection in the country. And we have many of those so called forces around, be it the Military and even the so called paramilitaries. But what they are doing to protect us is not yet understood and comprehensible.

By: Ishowo Malik Ayomide.

*_ISHOWO Is a student, learner, political and media enthusiast, and a writer based in Ilorin._*

08165511716, 08057234195.

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