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Monday, October 10, 2011
Food: Can we live without it? -what food means to your culture-
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Monday, July 11, 2011
Nigeria Ministerial Nominee: Excerpts from Ngozi Okonjo Iweala’s Screening at Nigeria’s Floor of the Senate
Wednesday, 06 July, 2011

Nigeria is critical towards tackling challenges of building a sustainable economy especially achieving the VISION 202020. While Nigerians have been very strong in their views about the selection of the Ministers by President Goodluck Jonathan, it is therefore, expected that experience and expertise should take prominence over political interest.
Ngozi Okonjo Iweala, who was a Finance Minister in Obasanjo’s regime, was praised for fighting corruption and negotiating the cancellation of nearly two-thirds of Nigeria’s $30 billion Paris Club debt.
The World Bank Managing Director laid out her vision pledging she would help create jobs and ensure the country lives within its means if approved as cabinet minister in the current President Goodluck Jonathan’s administration.
Her views:
- I am really worried about the issue of making sure our budget is not eaten up by recurrent expenditure. The budget recurrent is now 74 percent and not much is left for capital expenditure. How we invest in capital if we’re spending all our money on recurrent expenditure?
- ‘Can we run a budget that is not negative? Absolutely. We can do it. We have been able to do in the past’ she explained that in the previous administration she served, the goal was to put in place a sensible fiscal policy that would enable us have a reasonable fiscal deficit’.
- For Nigeria to get over her economic challenges certain issues must be addressed and these, according to her, are: creation of job for the teeming unemployed youths; improvement of decayed infrastructure; disciplined financial controls, and support for key areas of the economy including agriculture, construction and real estate.
- Another concern was that Africa’s biggest oil and gas producer was seeing its foreign reserves fall despite high oil prices, although she said that was partly due to a policy of supporting the naira (the country’s currency); a stance she would not seek to reverse in the immediate term. ‘If we want to re-value the Naira, this may not be the time to think about it, I think we should wait until things are more stable’. She added.
- On Islamic Banking- ‘we need to look at non-interest banking without emotions. It is another form of banking. We just need to unpack the elements of this system of banking in order to understand it’.
- On viability of non-interest banking model in Nigeria –‘from evidence, it seems to be functioning relatively well in various parts of the world, and with proper implementation, it should also work in Nigeria’.
Sunday, April 3, 2011
US Advancement: Implication for Nigeria
Below are excerpts from President Obama’s Remarks on America’s Energy Security to Students of Georgetown University, Washington, D.C.
http://www.america.gov/st/texttrans-english/2011/March/20110330161241su0.1980402.html
'In an economy that relies so heavily on oil, rising prices at the pump affect everybody -– workers, farmers, truck drivers, restaurant owners, students who are lucky enough to have a car. (Laughter.) Businesses see rising prices at the pump hurt their bottom line. Families feel the pinch when they fill up their tank. And for Americans that are already struggling to get by, a hike in gas prices really makes their lives that much harder. It hurts'.
'And we will keep on being a victim to shifts in the oil market until we finally get serious about a long-term policy for a secure, affordable energy future'
'So today, my administration is releasing a Blueprint for a Secure Energy Future that outlines a comprehensive national energy policy, one that we’ve been pursuing since the day I took office. And cutting our oil dependence by a third is part of that plan'
'So the only way for America’s energy supply to be truly secure is by permanently reducing our dependence on oil. We’re going to have to find ways to boost our efficiency so we use less oil. We’ve got to discover and produce cleaner, renewable sources of energy that also produce less carbon pollution, which is threatening our climate. And we’ve got to do it quickly'.
'Now, another substitute for oil that holds tremendous promise is renewable biofuels -– not just ethanol, but biofuels made from things like switchgrass and wood chips and biomass'.
'I don’t want to leave this challenge for future Presidents. I don’t want to leave it for my children. I don’t want to leave it for your children. So, yes, solving it will take time and it will take effort. It will require our brightest scientists, our most creative companies. It will require all of us –- Democrats, Republicans, and everybody in between -– to do our part. But with confidence in America and in ourselves and in one another, I know this is a challenge that we will solve'
...I read it and left unfinished. Then i began to think of Nigeria's future. If her highest buyer of oil will at the long-run gradually withdraw; what will or is the alternative? How sad, my country has refused to learn yet. See us concentrating on boosting foreign reserve when our economy power houses are crumbling.
So, it is wrong to use the capital we now earn from oil to make huge investment in Agriculture? Or does Nigeria lack the capacity to start thinking of alternative sources of power generation? Brazil has alreay started it; US is also doing it; what stops Nigeria?
Nigeria's leadership needs more seriousness and rethink than ever. Becasue, the future is just here.
Thursday, May 20, 2010
tiME to ACT
There seem to be no social conscience in the Nigerian polity, especially among elected representatives. As such, political will for social engineering becomes thwarted; at the other end, the poor masses are victimized with dilapidated social services –like the health care system, failed education system and housing coupled with insecurity. Therefore, youths who form the highest population (about 80%), women and children are vulnerable to the impact of these deterioration.
There comes a time when the people speak and their voices raised to towers. It happened once in Philippines in the 80s, when the people joined forces to install Corazin Aquinno while the incumbent president to on exile to Hawaii.
“Legitimacy of government has to come through government visibly doing simple but important things for the –basic health care, education and road” –Paul Collier states. If we do not as a people and future leaders elect credible representatives, then our efforts would be in shamble.
To create a prosperous, balanced and sustainable economy in Nigeria is dependent on good leadership and governance structures. A credible government that understands the society’s needs –security, social services, employment creation, accountability and ensuring right-based society.
Again, "Nigeria and the Africa needs a turning point, perhaps the new government of President Goodluck Ebele Johnathan would lead the change. How I wish, his 3-point Agenda would be a growth enabler for Nigeria’s economy, her leadership and political life, to meet up enormous challenges and targeted goals before us –the MDGs by 2015, vision 202020".
It is now pertinent that Nigeria’s development will greatly depend on her ability to mobilize the creativity, vision and unique perspectives of youths for the present and future development of the nation. This will be achievable through coordinated and progressive series of activities that helps them become socially, morally and cognitively competent as leaders.
The spirit of change in Nigeria lives in the youths –they are agile, strong, bold and courageous. From all indications, young Nigerians are hunger to forestall true democracy in Nigeria, which is achievable through credible elections. We have participated and have learnt our lessons three consecutive times -1999, 2003, & 2007. At the long run, youth bears blame for election flaws.
Thus, I look forward to see young people rise up to support right-based issues such as; sharing and learning from expert techniques/experiences on election observation/monitoring, to understand what “the freedom to vote and protect their mandate” really mean; be ready to vote; be proactive and vigilant to ensure that their votes counts!
Can a crawling growth walk, then run?
Nigeria has in recent time experienced series of development, but despite these and numerous youth programmes, many youths still suffer significant disadvantages. Estimates shows that in Africa, about 130 million youths are illiterates; youth unemployment is three times higher than that among adults; 102 million youths in Sub-Saharan Africa lives on $1 a day; millions of youths find themselves without education and training, and are easily drawn into conflict and violence.
Globalization is significantly impacting the way development investments are made; and now allow countries to focus on what works based on experience so as to enable appropriate diversification and utilization of resources for sustainable development.
To create a prosperous, balanced and sustainable economy in Nigeria is dependent on good leadership and governance structures. A credible government that understands the society’s needs –security, social services, employment creation, accountability and ensuring right-based society.
Nigeria and the African continent needs a turning point, perhaps the new government of President Goodluck Ebele Johnathan would lead the change.
How I wish, his 3-point Agenda would be a growth enabler for Nigeria’s economy, leadership and political life, to meet up enormous challenges and targeted goals before us –the MDGs by 2015, vision 202020.
It is now pertinent that Nigeria’s development will greatly depend on her ability to mobilize the creativity, vision and unique perspectives of youths for the present and future development of the nation. Perhaps, this will be achievable through coordinated and progressive series of activities that helps them become socially, morally and cognitively competent as leaders.
UnyimeAbasi Essien
+234 802 429 3798
mclato@gmail.com
useful links
http://allafrica.com/stories/200910220776.html
Wednesday, May 12, 2010
Why is Africa Poor?
Africa is a continent that possesses what it takes to move out of the third world countries mapping. It has intellectual human capacity –a people dedicated to service and hard work; and rich natural resources, though, the mere fact that most countries in Africa are found to be failed states already sets a pointer that the continent is poor.
While the continent struggles through a stagnated growth margin with a weak economy, dysfunctional educational system, poor healthy care delivery structure and massive unemployment.
One factor which contributes to the continent's continuous snail growth is her leadership. The governments have failed to render service but prefer to be served. There seem to be very little political will on marking up strategies to ensure sustainable development.
A major one is the cash economy currently operated in the continent. This is the biggest and hidden maggot that cripples micro economy sector like the small medium enterprises (SMEs) -the bedrock of a growing economy and continuously pull downward the entire macro economy.
In Europe and America, a credit economy ensures that an average person can own a duplex or get a good car with a 3 to 5-year repayment plan. In Africa, the trend is the reverse; you have to pay cash for every bit of transaction made. No wonder an average Westerners can't afford to stay in Africa, not because the environment is not propitious but the economy is just too expensive to bear.
No wonder, people who have privilege on authority embezzle so much than they can chew; no wonder corruption rate is high in the continent; no wonder the high rate of unemployment even as the citizens are very hardworking and committed people.
The economic crunch needs just a regulation by a government that is able to exhibit good governance, which would obviously provide for her citizens basic amenities (good roads, electricity, water supply and a working healthcare delivery service); security and employment.
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The discussions I have this evening with mr. Oluseun Bamgboye broadened by horizon as to why Africa is poor and would continue to be poor.
UnyimeAbasi Essien
+234 802 429 3798
Tuesday, February 23, 2010
A Local Experience
Saturday, February 13, 2010 was to memory the life I lived 15 years ago. I was on a trip to a local community in Akwa Ibom State, Nigeria. As we drove through the narrow village road, saw the community setting, children walking about from one compound to the other, young people returning from stream and fetching fire wood. There and then, I made use of my phone to get this pictures.
Don't mind me, village community life is soft, sweet, affordable. Everyone cares and share. So, how long have you been to your own local place. Take a trip there soon!




