Policy of sensible politics and commonsense economics: A revisit ...

By Adisa Adeleye

A critical reader once asked me to define the concept of sensible politics and commonsense economics that I always refer to in this column, and also, to differentiate between that concept and President Jonathan?s Transformation Agenda. My logical answer is that the President?s Transformation Agenda is now in vogue and Nigerians are familiar with the consequences of some of the actions of the Federal Government.

Simply put, the Agenda on the Economy is macro-economic stability with full employment and less inflation. The idea is to grow the economy to the extent that poverty would be eradicated and prosperity restored and maintained. The political agenda points to politics without strife and bitterness and security of life and property.

My concept of sensible politics and commonsense economics would depend on application of policies to the attainment of peace and prosperity. In a democratic environment, there would be a government and the opposition {alternative government). It is the duty of the government, through its pre-election promises, to rule and provide good and tolerable administration for the people.

It is the right of a progressive opposition to examine critically the policies of the government, point out adverse consequences and assure the electorate of its readiness to provide a better solution. In the absence of organized strong and effective opposition, many Nigerians, through the media, have been critical of the government to the displeasure of the celebrated spokesmen of the authorities.

The idea of sensible politics rests on the pillars of consensus ? a stand which will appeal to majority of Nigerians and which the opposition parties will find it difficult to oppose with good reason. In the recent emergency declaration in three states of the March, the stand of the federal government, though belated, was widely supported by majority of Nigerians. It is however recognized that such an important step should have been discussed before action, with a responsible opposition.

In all civilized democratic institutions of the world, security matters, war and peace, are thoroughly discussed with responsible organs of the state to obtain maximum support of the people and easy passage of laws at the Legislative houses. The organized opposition of the people and the discordant notes from the nation?s parliament on many critical issues is a stronger pointer to the fact that political processes, at times, lack sensible approach.

A case in point is the recent Senate approach to a single term of six years for President and Governors. How do you gather support from the affected political office holders if they know that their fortunes are affected? You should not expect a President to support a piece of legislation that would affect his chance of second term.

It is amazing, if not embarrassing that of all the myriads of problems facing Nigeria, it?s only the term of principal political officers that would excite the minds of our highly paid parliamentarians. The electoral processes need structural reforms before 2015; there are questions about suitability of the presidential system of government for a developing country; other problems concern the imposition of a unitary system of administration on a federal constitution. There are also problems of armed robberies, kidnapping and ritual and political killings that need adequate attention.

Many analysts believe that a plural society like Nigeria needs the development of sensible politics to promote consensus on vital matters through cooperation and understanding. The negative approach to sensible politics is the apparent curious behavior of many PDP governors and some party officials. The strife within the rank and file of party members and the dictatorial and proud attitudes currently being displayed do not suggest an atmosphere for rational thinking for the development and progress of the country.

The words in the mouths of many patriotic Nigerians rest on the believe that a party that does not tolerate opposition and cannot manage its affairs with dignity may not be the party that would bring peace and prosperity to the country. The tragedy of the Nigerian politics is the difficulty or near impossibility of removing a non-performing sitting administration. People doubt the efficacy of the present electoral regulations in resolving rigging issues.

Many economists are not sure of the effectiveness of some policies under the Transformation Agenda to ensure prosperity through less poverty and high employment. At present the reliance on oil for the sustenance of the Nigerian economy has not encouraged the desired economic development. Oil revenue, as an engine of growth, is being used to support the budgets of all tiers of government (whose propensity to consume conspicuous non-essential goods is prodigious).

The failure of the federal government and the states on the use of Excess Crude Oil account for infrastructural development is a case in point. Also, as Nigerian oil would be facing bleak future in foreign market, the home production is affected by pipe-line vandals and daring crude oil thieves.

It is regretful that the present economic policy has produced a regime of high banking lending rate, low value of the naira, high unemployment rate and deepening poverty. A preferable commonsense approach would be cheap money (low bank lending rate) as being practiced in many developed countries; a suitable exchange rate in respect of certain necessary commodities and great incentives to domestic manufacturing.

There is no other way to tackle high rate of employment problem than the injection by the government of massive funds into the economy to stimulate effective demand and thereby, increase employment. Commonsense dictates this approach in the short-term (as the year 2015 approaches), as Lord Keynes once noted, ?in the long term, we are all dead?.

Comments are moderated. Please keep them clean and brief.

Source: http://www.vanguardngr.com/2013/06/policy-of-sensible-politics-and-commonsense-economics-a-revisit/

Alfonso Ribeiro adam sandler College Football Scoreboard nfl scores nfl scores Devon Walker Tom Cruise