The rate of economy development and growth across the globe amongst nations.Given, is tied to the coordinating critical role played by agencies in each nations.
As economists teach, that respective agencies and institutions in nations determine long-term economic development and growth.
With an understanding that public agencies are much more crucial in economic activities.
Conversely, in recent time, as the global economy continues to unfold.There are complementary roles public agencies play together in line with making sure that the economy result is positive.
Although, each of the agencies have its own unique and set out priorities on what to do,how to do, when to do as well as to whom to do for.
For instance, the Central Bank of every country is the Master Baker of Monetary Policies that impact reasonably. On the interest rate,inflation,cash flow,credit access, and the general economic output from micro and macroeconomic levels.
Nevertheless, the manner at which the Central Bank dish out it policy essentially, impact every agency of the state. Responsible for sector such as Agriculture, Transport, Education,Health, Security,Aviation,Telecommunication,Power, Hospitality, Infrastructure and many others.
Chiefly, also the failure to have a linkage policy, with positive bearings on all sectors. Can be destructive and counterproductive.
In all honesty, Nigerians are not finding it easy with the economy. And one may need to ask pertinent questions regarding the role of numerous Nigeria government agencies in the economy.
Instructively, also if one should interrogate, do government agencies have a role to ensure Nigeria economy develop and grow satisfactory?The simple answer, In short, is yes. However, one critical questions that its answer cannot be categorically affirm as yes is. How much contribution is coming from government agencies to enable the economy grow? One may be disappointed on the answer from the question above.
Becauase, over the years we grapple with little or no appreciable contributions from government agencies.Rather, we are confronted with official excuses that define the poor health of the economy thus far.
For instance,some of us are envious of the successive interventions of the Central Bank of Nigeria (CBN) cutting across multi-sectorial levels.This CBN interventions ruins into trillions of naira in the last seven years.
Take for example the CBN interventions in the power sector. Particularly, in Nigerians expectations supposed to translate to steady electricity power supply. That is key to Small Medium Enterprises (SMEs) and large manufacturing. But the result of that intervention uptill date, is excuses upon excuses. Sadly also our National Grid are collapsing on monthly basis.
Another is the agricultural sector that public spendings in billions of naira is not in short supply. Regreatably, surging food prices on daily basis cannot be comprehend.Even though, the fear of bandit kept farmers away from plating.Prediction of looming food crisis is what we are being told.
What can we say about the security sector that has been most enrich with trillions of naira. Ironically, poor performance to tame insecurity point out we are not ready yet.While elements responsible for insecurity freely lives amongs us and kidnappers walk freely to enjoy proceed from ransome collected from there captives. On the other hand, our security agencies has since lost touch on the reality that there is strong corrolation between economy growth and security.
A look at infrastructure, road for example across the country from federal,state and local government is in pitiable conditions.Good road network alongside other Infrastructures definitely is a leeway to ensure stable and enabling business environment. Agencies in that sector for a long time now are the very road block to successful completion of project. In recent times, contract re-evaluation between government and contractors is now a normal procedure to bypass procurement rules and regulation. And this are delibrate acts fueling the cycle of corruption in that sector.
The economy in our estimation suffer majorly as it dependent on foreign technology,and failure to deploy local technology know how. Although, the establisment of National Agency for Science and Engineering Infrastructurs(NASENI) with it over tweenty specialize sub-agencies was in the right direction. Unfailingly,NASENI is expected to lead the industrialization of the nation,by feeding the manufacturing sector with tool,machinery,equipment, spare part and many other compleex innovation engineering. Alaast, where are we with NASENI? Hence, interrogate the people in charge of NASENI what is hindering there contribution to the economy. There reply would be same official excuses that other government agencies laments over.
Don’t be suprise to received the same excuses from National Automobile Council (NAC) since inception with nothing seriously contributed to the economy.
We can go on and on highlighting several agencies of the Nigerian state having little or nothing to contributes.Only exist to draw on budgetary bills.
One is pained seeing beutiful ediface of many of these agencies and be range in anger as the economy keep stinging masys of Citizens.
For us,it is a shame to have arguable agencies, without any corresponding contribution to the econony. The contention that they employ people to be paid salaries is so serious as there core mandate to impact the economy. We must appreciate that agencies of government in there totality are not charity or foundation outreach.Because at the face value and value chain of every government agency is to steadily grow the economy. Arguably, why is ours not so?
Our stand, what should be done going forward. First, there is need to remove any hindrance against government agency role towards economic growth.The primacy of economic first should be there priorities sphere in promoting economic growth.
Secondly,the factors determining economic and human development are open access in the economic sphere
Our suggestion is for a linkages and interconnected in agencies activities.For instance nothing stop CBN and NASENI in colloboration in technology innovation for the manufacturing and Agric sector it interventions focus.
Thirdly, we equally believe that inter-agencies colloboration should replce every form of inter-agencies rivalries.
Colloboration on economic activities among government agencies effort in resources development and finished product.Again nothing stop National Agricultural Land Development Agency (NALDA) from partnering with NASENI to produce all it farm tools, equipment and food silos.
Lastly, we need to evidently establish mechanism to checks and monitor the contributions of this arguable agencies to the economy.This is necessary to balance there sphere, sufficiently toward economic growth.
For us a practical demonstration to achieve econonic growth.Can only be achieve if government agencies cultivate linkages that embraced economic activities integration, interconnection and networking.
Although we appreciate the present political climate of democracy,wich stressing popular participation by all. Conversely, political democracy alone cannot put food on the table, it paramountly need public agencies stedfastness to ensure econonomy growth and stability.
Adefolarin A. Olamilekan
Politcal Economist and Development Researcher
Email: [email protected]
Tel: 08107407870,08073814436
