By Dr.
Ahmed Adamu
 |
| President Muhammadu Buhari |
He came home with no food and no money, and met his two children
crying, they did not eat for the whole day, he perspired and collapsed as a result
of frustration and anxiety. He died before reaching the hospital. That is how
poverty can kill. Another person burst into tears for not receiving his monthly
salary on time, he had to borrow money to transport himself to a town (where there is a
Bank) expecting to receive his salary alert so that he can buy food to
celebrate Sallah festival, but he was disappointed as government did not pay
his salary yet. People around had to contribute money for his transport back
home. This is how dependency on government salary can frustrate.
However, these could have been relatively avoided if people
reduce too much dependence on government. Many people rely heavily on salary
from government or single source of income. This has made many lazy and
vulnerable to an income shock. It also added so much burden on government. Majority
of young graduate finish school expecting to be employed by the government. The
government is now unable to sustain the increasing burden of salary payments.
The low crude oil price has significantly reduce the capacity of the
government, and it is not surprising the government is trying to reduce the
salary burden to the minimal level.
The implication of tightening the salary liability is that
there might not be new employment in the short term and possibly some may have lower salary or delay in receipt. And because salary is the sole source of
income to so many, the people’s economy is now in worst jeopardy. In addition,
inflation has so far increased by 6% from last year, and yet salaries did not increase, which means people’s
economy are getting weaker as their purchasing power has reduced by 6%. Therefore, too much dependence on government
salary or single source of income has caused the recent endemic poverty in the
country.
The repercussion of so much dependence on government is
manifesting due to the recent shock in government revenue. So, this should
serve as a wake up call to everybody to diversify sources of income and engage
in productive ventures. Doing this will relieve the government of so much responsibility
and allowing it to provide social services. People find it easy to blame government
for their poverty condition, they overlook their own share of blame for being
so much dependent.
One of the major contributor to the endemic poverty is lack
of social services, which has been inadequate, and people have to use their
little income to provide those services for themselves. So, government must
save to provide these services for all, so that individuals can be responsible
for their own economies.
My advice to Nigerians is to engage in production, do not
just buy and sell, make or produce something. This is what will add significant value to
the economy and increase income taxes to government. By doing that, we would
not need government job, rather we will create the job ourselves. Instead of
employing new employees, government and private individuals should create entrepreneurship
funds, which will be accessible to entrepreneurs especially makers or
producers. The capital incentive should be a grant, not a loan, as interest
payment/loan hinders access to capital.
President Buhari has been reported in many occasions pleading
with Nigerians to be patient with the current economic hardship, and I think Mr
President should not only ask for patience, he should use his goodwill to
preach and advocate for Entrepreneurship among Nigerians. He should consistently
ask or challenge Nigerians to embrace business and productions (Agriculture
inclusive). Entrepreneurs must be creative
and engage in producing things we import like Cell Phone, Cars, Electronics,
Fabrics, foods etc This will help reduce inflation and create more jobs.
We have so much innovation and strategies in raising money
for our personal projects, like marriage, building houses, buying cars etc, we
should channel similar strategy and energy in raising funds to fund our
productive businesses. We can postpone such kind personal projects for later
times. After our businesses prospered, we can then do those personal projects. Every
young person shall have innovative idea and plan for creative production. We
should stop wasting free times, we should use it to learn new business skills,
ideas or source for capital. Young entrepreneurs with little capital should learn
to engage in business partnerships. If we do that, we will be responsible for
our own economy, then we would not expect from government, rather we help the
government.
Finally, Women must equally step it to contribute to the
growth of the economy, with almost half of the country’s population, women can
make differences and help families. Working parents can adequately cater for
their children and themselves, and support each other. Therefore, spouses should help each other to establish businesses.
Dr. Ahmed Adamu,
Petroleum Economist and Development Expert,
Pioneer Global Chairperson of Commonwealth Youth Council,
University Lecturer (Economics), Umaru Musa Yar’adua
University Katsina.
