THOSE WHO FAIL TO PLAN ARE PLANNING TO FAIL
By Bala Ibrahim
It was Benjamin Franklin, famously referred to as the founding father of the United States that said, “if you fail to plan, you are planning to fail”. By simple interpretation, Benjamin was saying, those who don’t make proper plans and preparations for the task ahead, are more likely to encounter difficulties or fail in their endeavor. Benjamin’s position may be a panoramic view, but when perused through the prism of Nigeria’s position today, it can be called a perfect prediction or prognostication.
According to the latest United Nations data, the current population of Nigeria is 233,599,761. That is as of Monday, September 9, 2024. From that Monday to now, some would have died, but many more might have been born. Also, because of the vastness of it’s land, the diversity of it’s people and this huge population, alongside it’s oil and other natural resources, Nigeria is often called, “the Giant of Africa.” Statistics have also shown that Nigeria’s public debt, external and domestic, stood at N121. 67 trillion. Again, this giant debt gives it the right to rightly answer the name, the Giant of Africa.
Nigeria today, is under a special trial. A trial that is making everyone uncomfortable, because of the excruciating pains of reforms. Yes, reforms introduced by the APC government, which has the political philosophy of progressivism, that seeks to advance the human condition through social reforms. The government is introducing reforms in every sector, including Microeconomics, and Monetary reforms. Certainly the citizens are cut to the quick by these reforms, but if the Nigerian situation is genuinely analysed and understood, the reasonable mind would agree that, what the leaders need is support and sympathy, but not scepticism.
Those opposed to the government’s approach are calling the regime insensitive, because, according to them, the styles are harsh and principally anti-people. They want the government to be partially philanthropic, particularly on the issue of the price of petrol. I am not a product of any Institute of Administration. So, my understanding of the meaning of governance may be defective. But, my experience in the newsroom, and my various visits to the people in power, have told me that, there is a difference between governance and philanthropy. The act of overseeing the control and direction of things is called, Governance. While the desire to promote the welfare of others, especially through the generous donation of money to good causes is referred to as, Philanthropy. When the two are mixed together, it may result in poor accountability. Another name for bad governance.
For governance to be good, it needs to put it’s eyes on the way public institutions conduct public affairs, manage public resources and guarantee the realisation of human rights. And there should be no sentiment attached to it. Nigeria’s central bank, one of the major public institutions of the country, was accused of being terribly ran by the previous regime. A situation that nearly took the country to it’s knees, financially. Although the previous and the present regimes belong to the same party, the two regimes have different drivers with different approaches to the same problems. The former was a soldier, while the present is a civilian, with bias in financial training.
Like Benjamin Franklin, he believes that, if you fail to plan, you are planning to fail. And he does not plan to fail, I think. So, he chose to take the bull by the horns. He started with fuel subsidy, which reports say, consumes 40% of Nigeria’s revenue in 2022. Billions of dollars were said to have been lost through corrupt practices in the payment of these subsidies. As a reform measure, the subsidy was scraped. Since then, people have been crying, and genuinely crying, because, the cost of everything has gone up through the roof. The appeal is for the people to be a bit patient, supportive and sympathetic. Not sceptic. Those who fail to prepare are preparing to fail.
On the fiscal side, the central bank raised it’s benchmark lending rate to 26.75%, the fourth consecutive hike this year. According to the bank, the decision follows increases of 150 basis points in May, 200 basis points in March, and 400 basis points in February, the largest in 17 years. The hike aims to combat rising inflation, which hits 34.2% in June. The central bank’s Monetary Policy Committee stressed the urgency of addressing inflationary pressures, while remaining optimistic that prices will moderate soon. It is painful, very painful, but an inevitable planning process. Those who fail to plan are planning to fail.
Indeed for long, Nigeria is regarded as one of Africa’s economic powerhouses, because of it’s abundant resources and diversified population. But the same Nigeria has been grappling with several security challenges that directly impact on it’s economy. These challenges range from insurgency to conflicts between farmers and herders, as well as organized crime and kidnapping for ransom. These security threats not only undermine national stability, but also have adverse effects on the economy. To address the challenges, the government must take the painful path of preparation, through proper planning. Those who fail to prepare are preparing to fail.
The high level of insecurity in Nigeria, particularly in the northern region, where, although gradually being degraded, Boko Haram has been a threat to business activities. Prospective investors are deterred by the lack of security. Banditry has severe and far-reaching consequences for the economy. Thank God, we’ve just been informed that, pursuant to the aggressive operations of the military in the Zamfara/Sakwato axis, as directed by the President, the most dreaded bandit kingpin, Halilu Sububu, and 38 of his foot soldiers have been killed. The heat is now on his subordinate, Turji, who also we were told, by the Chief of Defence Staff, Gen. Christopher Musa, that his capture is a matter of time, a very short time. Arresting or eliminating him is a fait accompli, he implied.
Surely, this would remove the pervasive fear and insecurity that were living with the people of that region, and reignite economic activities and development in the area. That’s what happens when there is planning, which may be painful, but it’s the path to take. Because, those who fail to plan are planning to fail.
THOSE WHO FAIL TO PLAN ARE PLANNING TO FAIL
