Covid-19: Nigeria must fix roof while sun shines

OTHER country’s plans for post COVID-19 recovery involve less reliance on oil: Nigeria must fix the roof while the sun is shining if it wants to survive the next storm. Around the world, national governments are turning their attentions to post COVID-19 economic recovery – and this could mean more bad news for Nigeria. Across the globe, governments are developing “clean growth” strategies to recover, rebuilt and re-energise their economies after the disruption of the global pandemic. And a lot of the time, “clean growth” means “not oil”. It’s not like bad economic news is something in short supply in Nigeria right now. The International Monetary Fund predicts that our economy will shrink by 3.4% this year. Our own National Bureau of Statistics is even gloomier; projecting that economic growth could fall by between 4.4 per cent and 8.9 per cent. With the United Kingdom this week announcing that its economy shrunk by more than 20% in April alone even these depressing estimates could prove wildly optimistic. The newly-published Nigeria Economic Sustainability Plan 2020, a roadmap to post-COVID-19 recovery produced by a presidential committee led by Vice President Yemi Osinbajo, recognises the coronavirus crisis has already “depressed the demand for crude oil and precipitated an unprecedented oil price crash”.

The report continues: “Nigeria’s dependence on oil for revenue and foreign exchange makes it particularly vulnerable in this situation.” There is every chance that pent up economic demand will see oil revenues strongly rebound in the second half of 2020 and throughout 2021. But Nigeria must not allow itself to be “particularly vulnerable” ever again. But within the next few years that vulnerability may even increase. If other countries intend to become less reliant on imported oil, Nigerian cannot remain reliant on exporting oil. We must use this period of respite to prepare for the next storm. We need to fix the roof while the sun is shining. So, what is to be done? Not all the economic news this week has been bad. Reuters has reported that Orange, France’s biggest telecoms firm, is planning on expanding into Nigeria “within months”. The expansion could bring with it much needed inward investment in our national telecommunications infrastructure. The Economic Sustainability Plan acknowledges that “increasing non-oil revenues” must be a national priority and recognises that the digital economy presents a wonderful opportunity to do that.

The plan also includes specific economic interventions designed to create one million jobs in IT outsourcing, such as: “Training in key digital skills in partnership with private sector providers…allowing young Nigerians “to take advantage of existing initiatives in the digital economy, including in education, entertainment, e-commerce, financial services and software development. “The expansion of broadband connectivity to business services parks and locations.” These plans are to be welcomed. But they do not go far enough. If we are to survive the next storm, we need to embed digital literacy in every aspect of our lives. We need universal broadband in all businesses and all homes. We need to encourage businesses of all kinds to adopt new practices to improve efficiency and productivity. We need a digital literate workforce – and digitally comfortable citizens. We need government to take the lead and take a “digital by default” approach to providing public services – something we have already seen in palliative payments made during the coronavirus crisis. We need digital democracy. Almost 150 million Nigerians will own a smartphone by 2025. Half of young Nigerians already do. More Nigerians own a smartphone than vote. As head of the Digital Democracy campaign, I set up the Rate Your Leader mobile app to help politicians take the lead in embedding digital technology throughout Nigerian life.

The free app also allows votes to identify and contact their elected representatives at the touch of a button, direct from their phones or tablets. Rate Your Leader helps politicians engage directly with people who elected them, helping them understand what matters most to the people who elect them and build relationships of trust with the electorate.  It can also be used to encourage them to take advantage of the opportunities within the digital economy. The government’s plans for the extension of broadband and training for young Nigerians in digital skills are to be applauded. But these plans are on page 47 of the Economic Sustainability Plan. Its Executive Summary appears to prioritise a national move to “produce what we eat and eat what we produce… focusing on agriculture, increasing the acreage under cultivation and engaging thousands of young people in farming and agro-allied jobs.”

No one should underestimate the importance of food security in countries like ours. But Nigeria’s future cannot be that of a peasant nation. We must seize the moment to make ourselves Africa’s first truly digital democracy.

• Popoola is a technology entrepreneur and digital democracy campaigner

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Nigeria’s COVID-19 Cases Top 20,244 As Death Toll Hits 518
Nigeria’s coronavirus (COVID-19) cases, on Friday, increased to 20,244 as 436 new infections were announced by the Nigeria Centre for Disease Control… Read Full Story

MONDAY LINES: Oshiomhole And The North
I seek to draw lessons from the fate of northern Nigeria and that of Adams Oshiomhole of the All Progressives Congress (APC). Both currently suffer at the hands of their own creations, begging to breathe. The North grieves, wailing at the feet of its wild, untamed murderous boys; Adams is gasping in the grip of his audacious… Read Full Story

44.5 Per Cent Of Nigerians Aren’t Confident Their Children Will Be Protected From Coronavirus When Schools Reopen ― US Poll
44.5 per cent of Nigerians are not confident that their children will be protected from being exposed to coronavirus when schools reopen. Meanwhile, 97.3 per cent of Nigerians agree that the COVID-19 pandemic has demonstrated the need for greater investment in public healthcare… Read Full Story

Wild Polio Eradication, A Three Decade-Long War ― Buhari
President Muhammadu Buhari has thanked all those involved in the successful eradication of wild poliovirus in the country, saying that the feat was achieved after a three-decade-long war… Read Full Story

Nigeria’s Developmental Challenges Worsen As Debt Servicing Gulps 99% Of Revenue
Often times, individuals run into liquidity crises and need help from banks or other financial services companies or even friends to be able to sort themselves out. It could be to settle school fees, buy a car or even purchase foodstuff! So what happens when a country runs into a similar situation? For a number of emerging economies… Read Full Story

15 Things Effective Leaders Do With Extreme Consistency (I)
I first learned about effective leadership in chaotic environments as a Navy SEAL. Many, if not all, of those basic principles apply in business and life in general. We all have a different definition of success. But when we think of the more notable “successful” leaders out there, the narrative of their journey to the top… Read Full Story

LEADERSHIP & MANAGEMENT: Resuscitating A Dying Business
Businesses have their cycles. There are times when a business is prosperous and has everything going its way and there are other times when it experiences a downturn. Although some businesses are always on the go and continuously and consistently do well, these are the exceptions rather than the rule… Read Full Story

APC Crisis: Oshiomhole’s Exit Heralds 2023 Battle
As the All Progressives Congress (APC) chieftains and ordinary faithful watch with bated breath the unfolding power game in the ruling party, there are indications that what is playing out in the battle for the party structures ahead 2023 Presidency… Read Full Story

IPPIS Crisis: Varsity Workers Give FG 14-Day Ultimatum
Varsity workers, under the Joint Action Committee (JAC) of the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Universities and Associated Institutions (NASU), have issued a 14-day ultimatum to the Federal Government over the Integrated Payroll and Personnel… Read Full Story

I Didn’t Order Police CP To Prevent My Deputy From Leaving Govt House ― Akeredolu
Gov. Oluwarotimi Akeredolu of Ondo State has dismissed reports claiming that the Commissioner of Police in the state restrained his deputy, Agboola Ajayi, from leaving the Government House based on his directive… Read Full Story

Nigerians Will Pay For Electricity If Services Become Satisfactory ― Osinbajo
Vice President Yemi Osinbajo has said Nigerians are willing to pay for electricity if the services they receive from the distribution companies are constant and better… Read Full Story

Lawyers Task FG To Ratify ILO Convention No. 190 On Violence And Harassment
The International Lawyers Assisting Workers network (ILAW), Nigeria Chapter has called on the Federal Government to speedily ratify the International Labour Organisation (ILO) Convention No. 190 on Violence and Harassment in the world of work… Read Full Story

The Revenue Crisis And The Challenge Of Government
It has become a truth, universally acknowledged, that Nigeria currently faces an unprecedented revenue crisis. A report on the Medium-Term Expenditure Framework and Fiscal Strategy (MTEF/FSP) recently released by the Federal Ministry of Finance, Budget, and National Planning, revealed that during Q1 2020… Read Full Story

Now That You Are Young
I am a prince in Oyo State and I grew up in the city of Ibadan before leaving for Lagos State. In the early 80s and 90s, the third-largest city in Africa, Ibadan, had so many young rich men and women, who did not understand what I want to share with you right now. It will help you a great deal, if you will put it into practice. Remember… Read Full Story