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CACOL demands decisive action on current economic situation

Published

10 years ago

March 23, 2016

The Coalition Against Corruption (CACOL) has expressed concern over the current economic situation in the country. The group expressed that it finds it pertinent with the apparent biting economic situation, to demand of the government to wake up from its inability to recognize that governance is much more about pro-action than sloganeering and phraseologies. It contended that a situation whereby almost every aspect of the polity is in crisis owing to government’s failure is not acceptable.

‘’The present economic situation is a manifestation of the non-profundity and the lack of preparedness inherent in the ‘change’ the APC-led Federal government rode upon to win the general elections in 2015, basically. It reflects the futility of ‘cosmeticism’ and redecoration as strategic approaches for revamping an economy already in woe, as a result of the hitherto existing economic direction i.e. the neo-liberal economic order’’ CACOL declared.

Debo Adeniran, Executive Chairman of CACOL, stated that, ‘’the regime has failed to clearly stamp its’ economic ideology, direction or principle which could be used to prove, that indeed, there is a ‘change’ economically and that it is moving toward alleviating the painful situation of the-people, particularly, the poor who forms the majority. At best, the economic direction can be described as ‘foggy’ and this appear to be consciously made so; with the scenario riddled by contradictions, somersaults, illogicality, indecisions and uncertainties. This is what is at the background of the present economic hardships; where the people are battling with challenges for very basic needs; from food to housing, power to energy and from education to employment etc. and with government appearing hapless.’’

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In CACOL’s view “any economic order predicated mainly on the neo-liberal dictates of the IMF/World etc. would always prioritize every issue from the perspective of profit; that has and still remain the bane of the economy, and this is linked with the political will to alter the cause of the subsisting existing economic order. The privatisation of the commanding heights of the Nigerian economy; a neo-liberal decision is what is really behind the crises in the Power, Oil, Education, Health sectors and some others.

CACOL’s Executive Chairman noted that ‘’prior to now and till now, no government since 1999 has attempted to implement or even bother about what Chapter 2 of Nigerian Constitution says, the ground norm upon which government is instituted; and that is why there is no social protection for the extremely poor. A political will to begin to make social economic rights as enshrined in chapter 2 of the constitution enforceable would be a departure from the past which will indicate clearly the direction of government socio-economically. As for everything economically in Nigeria presently, it is cob-webbed and indeed foggy.’’

‘’It’s no gainsaying to affirm that any economic direction that will not alleviate the sufferings of the vast majority of the people will be tantamount to elevating their pains and worsening their situation of existence, thus the least that the government can do is to adopt a social welfarist approach that will embrace the provisioning for; social security for the extremely poor, a situation to ensure equitable distribution of resources and avoiding the concentration of wealth in the hands of a privileged few; affordable housing, education system that will leave no child out of school, a health care system that will be accessible to all and infrastructures that will facilitate the enabling environment for business and enterprise’’, concluded Adeniran when he commented on the present economic situation in Nigeria.