PMB: HOPE AMIDST HOPELESSNESS

In the midst of all the complains, grumblings, mudslinging and sudden demonstration of "expertise of all fields" by some Nigerians, which by the way is one thing we know how to do very well. I do not need anyone to tell me how tough it's out there as we are all going through it. I also concern that the current handlers of Nigeria affairs seems to be loosing grip of the situation, either as a result of being too careful or don't want to be labeled wrongly, however the case is, it is gonna be very tough decision to turn things around and I am not deluded about that at all.

However, I think some few positives worth paying attention to. One of the two positives I will like to mention is the change in perspectives when it comes corruption, which was elevated to the level of official statecraft during the last administration. Gradually, though uncomfortably and painfully to some, we are coming to terms with the level of recklessness perpetrated in recent times. To say the cause of our current woes is the corrupt lifestyle that was (perhaps still is) embedded to the fundamentals of our everyday livelihood is to say the least. Save for the rigor, level of seriousness and determination at which PMB seems to be pursuing his war against this societal cancer, suddenly other nations are gradually listening to us and offering support.

The second one is the fight against terrorism "Boko Haram". We need no further analysis of how BH has also destroyed our nation, socially and economically, which unfortunately again was escalated to an unbelievable level in the last administration. I think it is instructive to mention that it took the last administration about six years of fighting BH with nothing, and I repeat nothing to show for it. Rather, our soldiers reputed to be one of the strongest in Africa, who went to Mali to chase away terrorist, went to Burma and did fantastically, saved Liberia and Sierra Lone from collapse, only to come home and be taking a "maneuvering move" , whatever that means, to Cameroon while running away from BH. It took the current regime less than a year to decimate the BH and send them in disarray.

Now, on our current situation. I will really not want to go into analysis of economic multipliers or implications of mismanaging your income during the time of surplus, but I will only leave those with discerning mind to do a "quantitative analysis" of the following two analogies:

First Analogy: As at 2007 when OBJ left as Nigerian President the foreign reserve was over USD60billion, with average sales of crude oil at about $75/barrel. Note in 2003 it was sold for less than $25 while it peaked at $92 in the early part of 2007.

Then enter Yaradua/GEJ era: in 2008 it hovers around $100-$147, between 2009 to 2014 it hovers around $60 to $100 before it starts going south again in sometimes around mid 2014. Also note that as at the time GEJ left as Nigerian President in May 2015, the foreign reserves had tanked to about USD28.6billion. Please do the math yourself.
Sources include NBS, CBN, Wikipedia and CIA Factbook.

Second Analogy: this is very a short narrative and it goes like this. "A child who was malhandled by a reckless or quasi-irresponsible parents for almost two decades was now handed over to another parent to see if they can correct previous anomalies. Can you say it will be a realistic expectation to expect the child to change in one year? Don't forget that both the previous parents who are already used to reckless way of treating a child will want such lifestyle to continue, also the child who is so used to a molested life may have a tendency to become a victim of "Stockholm Syndrome" and join is abuser to fight the "rehabilitator".

Enough said.

Credit: Oluwole Famson