‘We see danger in 2019’ … Entrepreneurs, lawyers, others cry out
By With the Nigerian economy hovering dangerously on the edge of a precipice, according to experts, fears are being raised that the country needs a worthy outcome in the forthcoming 2019 election to halt the drift.
Speaking separately with BDSUNDAY in Lagos, some key players in the private sector of the nation’s economy expressed the optimism that should the election be allowed to be credible, free and fair, in which case winners are allowed to emerge, the economy would bounce back, but on the contrary, it would be catastrophic for the country.
Lai Omotola, group managing director, Masters Reality International Concepts Limited (MRICL) and chancellor of E-Boot Camp Limited, who mentors, trains young entrepreneurs and runs an entrepreneurship programme on radio, said his fears were not that the elections would not hold but that the figures may not reflect the aspirations of voters.
Omotola said going by what has happened in the last three-and-a-half years, his major fears are that the economy would take the hardest hit if the current government should come back to power.
“From what we have seen in the last three-and-a-half years, the economy is at its worst. It is very clear. The government policies have crowded out the private sector-led economy. Government has taken a lead role in doing business instead of allowing the economy to be private sector-driven.
“Last year, I told you something about the economy. I said electricity was not going to improve; you can see it today. I also said that the best the Buhari administration could do is just to maintain where they are and not fall below it, and that’s the best they can achieve. The exchange rate has been stable at N305 and N360 at fraudulent ways. They are pumping money into it to maintain that artificial position, now, without being a soothsayer; if Buhari comes second term in 2019; we are going to witness the final battle ground in this country.
“It is going to be the final war zone; because I must first tell you, the opposition will not accept the result; they would go to court. Buhari is not going to have the same privilege that he had that Jonathan lost the election and he just allowed it to go.
“Again, the President is of the opinion that he has not been successful in the anti-corruption drive. He has learnt from his mistakes. So, this time, he will pursue total eradication of corruption (I don’t know how it can be possible). That is going to be on his front burner. As good as that is, it is going to stifle the flow of money; and when this happens, it is going to stifle the economy. Now again, he only has two years to do whatever he wants to do on the economy. This is because, after two years, the next person that would want to become President would begin to beat drum. So, politics takes the front burner again. So, realistically, we are not going to see a major shift,” Omotola said.
The businessman also noted that part of the major problems of the present government has been the crop of people the President recruited to work with him.
“The problem we see in the country today is that the people Buhari recruited are far from reality and have not got the right knowledge. There is no reform; no activity; there’s no engagement of the people. They are far from it; and that is why we are where we are now. So, there is no clear cut to say that the Buhari administration has performed or will do better even if he wins in 2019,” he said.
Ayodele Kusamotu, a lawyer and chairman/principal counsel at Kusamotu & Kusamotu Law firm (The Greenfish Chambers), expressing same sentiment, said that the current administration was yet to show capacity in harnessing the potentials available in Nigeria close to four years of exercising power.
“We need a catalyst to help us actualise the potentials, and it doesn’t seem that this present administration is able to do that. I think Nigeria deserves better than that. So, after almost four years of being in government, we have not seen any significant change that can give one the comfort of saying that this government is the kind of government one would like to continue in power,” Kusamotu said.
On what to expect next year from the poll, he said, “I personally don’t think there will be any election or anything like handover in May next year. I think we may end up with, an interim government. That is my reading of the signs. Electoral bill is not signed; many things are happening – people are moving from one party to the other; so much crisis in the land. In this kind of atmosphere, I am afraid.
“For me, I think Atiku will win on the election day, but the result will have Buhari as the winner. Atiku would win the election but the result would reflect something else, unless of course, our Electoral Bill is signed and those necessary things are done before the elections. That also reminds me of one of the reasons I left politics.”
A Lagos-based banker, who spoke with our correspondent on condition of anonymity, said that the economy is so challenged that a number of banks are just struggling to stay afloat. He wondered what would happen in the next four years if the current administration returns.
“This is my 15th year in the banking industry. I have moved from one bank to the other and from one department to the other. In all of these years, the last three years have been very traumatic to business. The TSA policy is good, but the implementation has been abysmal. It is as if they don’t even wish the country good,” the banker said.
“For a country to make progress; for development to happen in a country, you must spend. That is why you see some forward-looking countries providing all manner of jobs to citizens and paying them so that the economy is lubricated. Here, they gather all the money in circulation and lock it up; a ‘voodoo’ economy. Additional four years of this nonsense, it will be bye-bye to Nigeria,” he said.
By Our Reporters