9jasite:
RECESSION: ARE SOUTH WEST TECHNOCRATS FLAWED?

The ongoing recession currently being experienced by Nigerians has been consistently blamed on Buhari’s action and inactions. However a review of on the cabinet members would be a reveal an overlooked fact: That the members of Buhari’s economic team have an overwhelming number of southwest technocrats!

You may ask of the relationship between the place of origin and the performance of an individual? It does matter a indeed matter a lot. You see an individual’s place of origin dictates his education and orientation.

The first south west technocrat to be linked to a National recession is Olu Falae [Mr. SAP]. He became popularly known as Mr. SAP due to his vehement argument for the Structural Adjustment Programme. Despite how unpopular the programme was, he went against all odds to choke down the unpopular pill down Nigeria’s throat. Olu Falae was the Finance minister at the time of Ibrahim Badamosi Babangida [1980’s] and as usual Recession was in the name.

The current crop of southwest technocrat led by Mrs. Kemi Adeosun, Yemi Osinbajo and Babatunde Fashola are presently the main arrow heads of the Buhari’s economic team. The trio are yet to show any clue on the job to the Nigerian economic stakeholders. The lack of economic blueprint is bewildering to many as it is now perceived that they may be learning on the job.

The inability of the trio to carry out any concrete steps or make headway is rather painful. More appalling is a comparison between the economic plight of Nigerians under southwest technocrat and South Eastern technocrats. The period of Okonjo Iweala and other Southern Eastern technocrats were a period of boom, both under Obasanjo and Jonathan.



Are South west Technocrats flawed?

The answer is NO.

REASON?

The inability of south west technocrats to successfully manage the Nigerian economy is not due to any flaw on their part, but a flaw in the Nigerian economy. You see the Nigerian Economy is a capitalist economy and the Awolowo educational system was socialist oriented. Hence the mantra or orientation of a typical south west born economist is tilted toward socialism.

Take a cogent look at the APC manifesto:

Free feeding
Government Jobs
Payment of 5,000 to Graduates
Government giving and giving and giving.
There is little or nothing left for the private sector or policy planning.

Take a quick perusal at the Southwest individual state economies:

Osun over-borrowed for socialist spending. Free food, tablets, jobs.
Ogun [/b]Pays Half salaries to workers which they over employed in line with socialist tendencies.
[b]Ekiti State governor continuously spoon feeds the people with food and other consumables. [Socialist]
Ondo is overburdened with debts due to heavy government spending for socialist spending.
Other south west states face similar challenges also. Lagos is spared due to south East technocrats that have been engaged in the economic planning ministries of the state.


The consistent concentration of South west technocrats on the government’s role has been the flaw repeatedly. The flaw is the result of a Socialist education which needs remediation in the shortest possible time.

The souths East technocrats are generally seen as being ahead of their peers due to their capitalist tendencies. The steps taken by the Anambra state government in cutting tax and in some case removing them in their entirety stands in stark contrast to calls by Adebayo Shittu to increase data tarrif and the likes in response to the ongoing recession.

The dominance of South East technocrats in International institutions such as the world bank and the global banking industry is a testament to their capitalist orientation. And until there is a change in the orientation of south west educational system, the perception of flawed technocrats remains.

Please this is not a tribal tirade but a factual analysis of the impact of the Awolowo education.



Written By OREVA-OGHENNE ENAKENO EJIRO



OREVA-OGHENNE ENAKENO is an economist from the University of Uyo. He is also the founder of 9ja.site [for Every Nigerian]. oreva@9ja.site

Please we would love to read your comments on our website. [url]9ja.site[/url]




SOURCE: http://9ja.site/2016/12/14/recession-are-south-west-technocrats-flawed/

Lagos is spared due to south East technocrats that have been engaged in the economic planning ministries of the state.

RockHard:


This quote right here exposes the reason why Yorubaland should be wary of these lying and incorrigible braggarts from that corridor. Their supposedly better technocrats have so far failed woefully to stem the tide of mass emigration perpetually afflicting their region and make it the envy of the rest of the country, yet dem still no humble. These parasitic loudmouths still depend on other regions [especially the SW] for economic survival owing to the non-viability of their home region, yet they just can't help themselves when it comes to their signature delusional posturing. I guess Leo Stan was eight afterall about his own people.

9jasite:




My father was also a recipient of Awolowo education in the defunct Bendel State.....so I dont know what you are talking about.

9jasite:




Straw man fallacy.....

najoke:


Haha....case closed.

babyfaceafrica:
Tribal bashing thread loading....OP well done!!

RockHard:


Weak. Why not refute me by mentioning those SE technocrats that saved lag but can't help se from perpetual emigration.

RockHard:

Weak. Why not refute me by mentioning those SE technocrats that saved lag but can't help se from perpetual emigration.

9jasite:




Ben Akabueze is the Lagos Commissioner for Economic Planning and Budget

A distinguished banker, accountant, economist and administrator, he holds a first class B.Sc degree in Accounting from the University of Lagos and an Advanced Management Programme Certificate from the Lagos Business School. A Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and a Fellow of the Institute of Credit Administrators (FICA), he has over 23 years experience in Accounting, Consulting and Banking, rising to the apex of the profession as Managing Director/Chief Executive of NAL Bank Plc (2000-2005), and Executive Director - Sterling Bank Plc from January to August 2006. He has served as Lagos State Commissioner for Economic Planning & Budget since January 2007, having first been appointed by Governor Tinubu and then re-appointed for two terms now by Governor Fashola.


And please am not Igbo......

HopeAtHand:
Op, the reason for Nigerias recession is primarily the drop in foreign earnings as a direct consequence of oil price drop.

Movic1:


Is that all you got I Know you need attention but i'm sorry to tell you dz. I hardly give attention to anybody who's head shape like figure 7.

9jasite:


Okay what was the average oil price under Obasanjo compare that to the current oil price. Management is everything. If you cannot allocate scarce resources efficiently then YOU ARE A BAD ECONOMIST.

9jasite:


That was never the intent.

RockHard:


This quote right here exposes the reason why Yorubaland should be wary of these lying and incorrigible braggarts from that corridor. Their supposedly better technocrats have so far failed woefully to stem the tide of mass emigration perpetually afflicting their region and make it the envy of the rest of the country, yet dem still no humble. These parasitic loudmouths still depend on other regions [especially the SW] for economic survival owing to the non-viability of their home region, yet they just can't help themselves when it comes to their signature delusional posturing. I guess Leo Stan was eight afterall about his own people.

9jasite:


I thought I mentioned Ben Akabueze.

Their emigration pattern I believe is due to cultural cum economic tendencies and not due to hardship.

The Igbos are mainly capitalist while South west are more oriented toward socialism. That was all that was stated in the article

HopeAtHand:


You want to compare Obasanjos era to today. What was our population then and now.. wat was expenditure then and now. Obasanjos era was when we saved so much, enough to pay off paris club debt. From Where did he get the money for that

9jasite:


You are creating excuses where none exists.

As an economist, a nation with huge potential like Nigeria can develop new sources of income to fill the void.
A huge inflow of foreign investment can reduce the effects of oil price crash.

HopeAtHand:
Op, the reason for Nigerias recession is primarily the drop in foreign earnings as a direct consequence of oil price drop.

RockHard:


You are trying to be clever by half but fooling yourself. Akabueze didn't do anything special. Lagos still used debt financing under his short stint like every other time under others in his position. yorubas have been the primary drivers of the lagos success story. igbo capitalist or whatever have little to insignificant input in the administrative success of Lagos. you can't rewrite history with your half baked and jaundiced nonsense.

9jasite:


Well I dont need to rewrite history.
Was there a recession under Ngozi Iweala? NO
Is there currently a recession under Osinbajo, Adeosun, Fashola, Shittu, Fayemi....? YES
What could be the reason? I simply gave an explanation-Socialist Education.
How tribalistic can you people get.

sammyj:
OP is an ignoramus forgeting that the recession started way back from his sister Ngozi's tenure as the country's finance minister and the clueless one's prime minister who was already borrowing capital to pay salary. Also note that you don't get out of recession within a year which i know will happen eventually when we start feeding ourselves. So put things into proper balance and get your facts right before jumping into any conclusion!!!!