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You are here:Home>>Strategic Research & Analysis>>Atiku’s Vice president: Focused on economic experts – Peter Obi, Soludo or Ngozi Okonjo-Iweala
Tuesday, 09 October 2018 15:44

Atiku’s Vice president: Focused on economic experts – Peter Obi, Soludo or Ngozi Okonjo-Iweala

Written by Emeka Chiakwelu
Atiku Atiku

Abubakar Atiku having become the flag bearer of Peoples Democratic Party (PDP) must now make the tough and important decision of picking his vice president.  The man or woman he picked with reveal to Nigerians especially voters the type of the government he desires to run if elected. 

At the interim, Nigeria is in a dire economic straits and Atiku needs a pro-growth economic advocate as his running mate. It is not a secret that Nigeria’s economic growth is anemic and in some cases decelerating with itinerant and runaway inflation. Unemployment is becoming the sinkhole of the nation.  With the annual population growth rate at 2.6 percent, the economic growth of less than 1 percent stood below the population growth.  This debacle scenario is an explosive catastrophic that will eventually threaten peace and stability of a nation.

Providing jobs to Nigerian youths must be the cornerstone of his economic policy.  The greatest resource of Nigeria is not oil but human capital from the youthful energy that must be harnessed to create a stable and prosperous nation.

Nigeria’s economy contracted by 1.6 percent in 2016 with total annual negative growth of -1.5 percent and became the worst annual slump in 25 years.  The economy went into recession due to two consecutive quarters of negative growths in 2016.  Finally, the country came out from recession with anemic growth of less than 1 percent. To be precise the recorded GDP growth was 0.83 percent in 2017 according to indices that came from National Bureau of Statistics (NBS).

The level of unemployment is alarming especially among the youths.  Job Statistics published in 2017 by “Nigeria's National Bureau of Statistics (NBS) pegs the unemployment rate at 14.2% in the last quarter of 2016, up from 13.9% in the preceding quarter. It's the ninth consecutive quarter that the unemployment rate in Nigeria has increased.”  And it is not getting better with the latest recorded unemployment of 18.8 percent. If we must be frank with each other, the true unemployment rate is way bigger than the official rate.

The recommendation is for Atiku to pick those that have been tested and gone through crucible of economic realities.  With interest rate at 14 percent and inflation rate 16.5 percent, an economic expert is needed to deploy fiscal policy that will compliment the daunting monetary policy in order to stimulate growth, attract investors and create jobs. 

Image result for peter obiPeter Obi, a former Anambra State governor and a business man needs no introduction because his accomplishment in socioeconomic speaks for him.  Obi is an apostle of financial discipline and economic growth.

Image result for ngozi okonjo-iwealaThis goes for Ngozi Okonjo-Iweala, although she is not a politician but a respected technocrat. Notwithstanding, she has been in halls of government in Nigeria and understands the tools and bolts of the polity. Her global standing as an astute economist and money manager will attract foreign investors and her oversee of the economy will bring discipline and transparency in that sector. 

Image result for chukwuma soludoChukwuma Soludo was one of most successful executive governors of Central Bank of Nigeria (CBN). He is a financial intellectual with pragmatic bent especially in tilting to pro-growth policy. Soludo was the leader in consolidating Nigerian banks and thereby raised their global profile. He has excellent credentials in managing monetary policy especially in stabilizing price, taming inflation with optimum interest rates. 

Image result for emeka chiakweluEmeka  Chiakwelu, Principal Policy Strategist at AFRIPOL. His works have appeared in Wall Street Journal, Huffington Post, Forbes and many other important journals around the world. His writings have also been cited in many economic books, publications and many institutions of higher learning including Harvard Education and Oxford University. Africa Political & Economic Strategic Center (AFRIPOL) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa. This e-mail address is being protected from spambots. You need JavaScript enabled to view it



Last modified on Tuesday, 09 October 2018 16:29

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