A new dawn for the Nigerian economy

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Word of knowledge puts it that, “All things work together for good…” which falls in alignment to our destined achievable national goal. To that effect, the arrangement and the interplay of factors of “Time”, “Space” and “Resources” (both human and natural) have all synchronized in perfect harmony to move the

economy of our great nation, Nigeria to the next amiable level through transformational leadership.

I can bet any pessimistic living soul (beyond any ambiguity) that the nation has hit the much and long expected/desired “jackpot” for the rapid economic growth anchored on sustainable development and its sustainability of development (which in a very short while will launch our foreign reserves to a stupendously rich savings surplus) with the recently well presented documentary by the Petroleum Minister, Diezani Alison-Madueke on oil and gas projects. The bedrock of our expected successful national economic planning lies (solely) in her proposed projects (Petrochemical plants, Methanol plant, New local refineries and Fertilizer plants) if successfully executed at record time.

Virtually all the weekly publications/works that featured constantly all through 2008 2009 in this medium authored by my humble self specifically stressed on the need of exploiting the above available factors of rapid economic development to fast track our national growth. These factors and opportunities depend on the presently advocacy of Mr. President on “Transformational Leadership”; where he identified and enumerated greed, lack of integrity and self serving (instead of the interest of the nation first) among our past leaders as the major causes of our past economic woes and backwardness after 50 years of our Independence. In a nut shell, when Time, Space and Resources are mentioned; we need to direct our minds to the issues of a time like now (when, at fullness of time INEC has successfully conducted a fairly contested credible election with the support cooperation of the ‘willing’ electorate that made it possible by making themselves available at the polls and, of course their votes equally counted). We also need to direct our minds to the issues of space and resources provided by the privileges and opportunities divinely created for our teeming population at the marketplace that constantly attracts and draws investors into establishing various concerns in the land. This singular privilege is in the light of the available rich natural resources (like in the oil gas sector) on our soils and that of very rich, endowed human resources in various disciplines of human endeavors, globally.

The presidential inaugural lecture delivered by Prof. Ladipo Ademolekun (theme: “Transformational Leadership For National Development”) excavated lots of vitals/strategies (both from his presentation and that of former Head of States, Yakubu Gowon and also Mr. President’s comments). These strategies are buried within the five critical fundamentals given by the guest lecturer which are; Electoral Legitimacy, Policy Stability, Security, Rule of Law and Anti Graft. With very robust macro-economic stability and Mr. President’s comment on retaining Ministers for a reasonable period shall in no small measure impact positively in transforming our economy through the Oil Minister’s proposed noble projects. I can clearly imagine Methanol plants and Petrochemical plants when mentioned to be put in place in our economy, experts know that our nation has then arrived and stands to be identified with the tag “Industrialized Economy”.

Self-sustainability in terms of provision of industrial raw materials and wealth creation and recreation through production of goods and services within the economy is the consequential hallmark of what Diezani Alison-Madueke has strategically programmed for the nation through the proposed projects. I personally see beyond the effects of what her Ministry has planned for our national development because, from the commercial perspective; Nigeria shall be a haven (most probably with industrial clusters, Free Trade Zones and Export Processing Zones where the “Asian Tigers” will flock at the instance of their very big Nigerian customers to open shops of small scale manufacturing concerns, if Federal Government so desired through banning of certain imports). This is because, most of the finished goods (example children’s toys made from plasticizers) being imported from China and Far East consume millions of dollars annually from our foreign reserves thereby putting our trade balance in an uncomfortable state at the end of every year. Honestly, this is going to be the realization of my dreams for our nation since 30 years ago (as a scholar of Petro-chemistry in the University). I pray that “Madam Petroleum-Ministry” succeeds.

With this development, as an entrepreneur I equally see no reason why the newly re-capitalized national oil company (NNPC) cannot succeed and become a viable, vibrant corporate entity through her economic activities as a self-sustaining going concern because, optimism is the key. Today, the national economic future is evolving through President Jonathan’s transformational leadership juiced by Alison-Madueke’s strategic projects in the oil and gas sector. This is a new dawn for the nation’s economy.

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