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    Home - Nigeria’s Leadership And Its Economy

    Nigeria’s Leadership And Its Economy

    By EditorJanuary 2, 2023
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    By Madinah Abdulsemiu

    SOCIAL responsibility is an ethical theory in which individuals are accountable for fulfilling their civic duty, and the actions of an individual must benefit the whole of society. In this way, there must be a balance between economic growth, the welfare of society and the environment.

    Again, development theory equates development with national economic growth and sees the state as its primary agent; consequently, one of its central concerns is to understand and explain the role of the state in development and the nature of government-market relations. Development theory is a collection of theories about how desirable it is to change the society and how it is best achieved.

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    What is Leadership? Leadership refers to the quality of leading people, whereby perfectionists are creamed off to represent the will of the people. Probably, it is one of the most important aspects of life. Above all, leadership has led to the progress of civilization. A leader must have confidence in his decisions and actions.

    If he is unsure, then how can people have the desire to follow him? A good leader must certainly inspire others and he must be a role model for his followers. He must motivate them. In difficult situations, a leader must not lose hope. A leader is an artist who paints the character of our society and its future. How can a leader inspire people if he himself is hopeless? Has President Muhammadu Buhari been an honest leader?

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    It’s no news that most Nigerians today, especially politicians, are caught up with their sticky fingers in the jar of corruption. This is the Nigeria many people died for! Abubakar Tafawa Balewa, Eyo Ita, Gambo Sawaba, Nnamdi Azikiwe, Obafemi Awolowo, Eromosele Enahoro among others! With collective efforts thrown into the milestone, this underdeveloped country can be transformed.

    First, the attack on insurgency was to improve the morale of the masses. There would be an election in two months and like a new bride, Nigerians will swear in a new president the following month. President Muhammadu Buhari had previously looked into the substance and not the symbolic.

    Thomas Sankara African Leadership Prize

    He went for industrious concretes within the country by greasing the wheels of agriculture to build the country’s economy and end the trails of poverty, especially in the northern part of Nigeria. Since the president believes in paper and originality, he worked on increasing rice production, which is the most consumed food staple in Nigeria.

    Second, in the last seven years of President Muhammadu Buhari’s stay in office, not only rice importation had been reduced but all kinds of agricultural crops such as food crops, cash crops, plantation crops, and horticulture crops.

    Nigerian TAX Reform - Federal Goverment

    The importation of tomato paste production also dropped where these commodities were found scarce and more expensive. This was to improve the lives and livelihoods of our farmers instead of depending upon refined petroleum.

    Third, for over six decades, petroleum has been the most important source of government revenue and foreign exchange in Nigeria. The oil sector provides for 95% of Nigeria’s foreign exchange earnings and 80% of its budgetary revenues, as imports + exports calculate trade partners.

    Nigeria has the largest economy in Africa and is one of the fastest-growing economy in the world. Despite its rapid growth in GPD, Nigeria is a country with a significant inequality gap.

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    We typically find wealth in the Southern part of the country where the North is exceptionally poor. According to Oxfam in 2007, “The combined wealth of Nigeria’s five richest men – $29.9 million could end extreme poverty at the national level, yet, five million face hunger.”

    As the 15th president of the Federal Republic of Nigeria, Muhammadu Buhari has transformed the economy from one based on manufacturing and services. Around 52% of Nigeria’s GPD now comes from the manufacturing and services sector.

    The Agricultural sector (40.08% of GDP), Trade sector (16.86% of GDP,) and the Real Estate sector (6.85%) dominate Nigeria’s economy. There was also a significant growth in the Financial Services, Communications, and Entertainment sectors. The Oil and Gas industry’s contribution to the economy is at approximately 8.86%.

    As a result, oil and gas only contribute to Nigeria’s GDP. A combination of the cheap and plentiful labour force along with its vast market, both within and beyond the country, has led to a rapid economic growth. Then, if the fastest-growing sector in Nigeria is manufacturing, then why fuel subsidy?

    Nigeria’s lingering fuel scarcity became worse in recent weeks as several filling stations failed to sell petroleum products. Operators of filling stations where petroleum products were available sold at prices higher than the government’s pump price.

    The Independent Petroleum Association of Nigeria (lPMAN) has attributed the current fuel scarcity to the unavailability of petroleum products and difficulty in accessing foreign exchange by marketers. Filling stations dispensing fuel now sell between N300 and N310 per litre, while the same goes for N400 per litre in the black market.

    Today, not only fuel scarcity affects Nigerias but high food prices among others. This goes back to the loop that never ends, the circle of good leadership.

    “I think I’m being harassed. I believe I’m trying my best. My best is not good enough,” Mr Buhari said, on his 80th birthday. They tagged the event “Celebrating A Patriot, a Leader, an Elder Statesman.

    “I look forward to the year 2023. When I finish, go home to take charge of my farm. Between now and that time, I will do my best to advance the interest of the nation and its people, and carry out my duties as prescribed by the Constitution,” the president said. Now, the future of Nigeria is in her hands.

    In conclusion, Nigerians are not to take opposition politicians seriously ahead of the 2023 general elections. These politicians are struggling and they have lived their lives struggling for the national cake, which they will distribute to themselves eventually.

    It is therefore in the interest of ordinary Nigerians to know that they have to vote to stay alive. By February 25th and March 11th, 2023, Nigerian teeming youth should use the advantage of its population strength to vote for candidates that can transform the country.

    It is another opportunity to change our destiny by voting wisely for the unity, progress, and stability in Nigeria and by doing so, it will eliminate the pains the citizens are passing through now.

    #nigeria #PMB #2023electionswemustgetsense #economy #agriculture #election2023

    Abdulsemiu writes in from Abuja, Nigeria.

    Opinion
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