Obasanjo was right all along

Obasanjo was right all along : Nigeria's Economic Reforms and Privatization Moves

Ade Tay

For the past seven years I have watched silently and kept vigil over economic reforms that have been taking place in Nigeria and I have hoped that they would get the full support of the Nigerian community, knowing that what was taking place was for their own benefit. Alas, this is not the case. Nigerians have disappointed me time and time again with their extremely biased and unintelligent criticisms of everything that this administration has tried to do and now the time has come for me to speak.

First things first, I have to say this but with a heavy heart, I am extremely disappointed with Gani Fawehinmi and other so called “professional” Nigerians over the constant criticisms against privatization and now in the case of the Law School privatization. I am a graduate student in Business Administration and I may not have written a book on economics but I know enough to hopefully, teach Nigerians a few things about why privatization is very good for our economy:

Privatization by this administration is not a means to cover up corruption and nepotism but is or was intended to create jobs and quality services for Nigerian consumers. Look at it this way, for years, citizens have failed this administration for lack of job creation. Get this into your heads... IT IS NOT THE GOVERNMENT'S JOB TO LOOK FOR JOBS!!! This is not a socialist government where everyone earns the same wage and no one is homeless. Trust me, socialism is the WORST kind of policy. It breeds inefficiency, corruption, nepotism and it inhibits economic growth. One only has to look at the economies of the defunct USSR, Cuba and now, Venezuela to realize that a socialist government is basically a government that not only arrest economic mobility but also reverses any economic gains made. But maybe I am too technical, maybe I need to simplify this. Okay, try this....FIND YOUR OWN JOBS. CREATE ENTERPRISES! Read any economic papers or books and you will find that private enterprises and small to medium businesses drive the economy and create a wealthy economy. Look at China and India if you do not believe me.
Privatization gives consumers a choice. For example, imagine you are in the market and there is only one butcher in the entire state of Lagos. This butcher has created a monopoly, and as long as he is alive, no one can open an abattoir or even sell a piece of meat. What happens next? Well, he can sell his meat for whatever price he wants to sell it, give mediocre, inefficient service and basically take advantage of his customers. Now, check this out, if there were a dozen butchers in that same market, and about 10,000 butchers in the entire State, if a customer does not like Butcher A's product or price, he can go to Butcher B, or C... basically, the customer, or in this case, citizen, has the power to determine how much he/she wants to pay and whether or not they want quality service and products. Privatising industries is very much like the analogy above. It creates healthy competition, therefore forcing service providers, in this case Law School, with quality for money and at an affordable price.

Privatization, creates a healthy and competitive economic environment where the average Nigerian citizen has the power to determine how much they want to spend on services or products and it forces service providers to offer consumers the best quality in order to create customer loyalty. Let's not forget that foreign businesses, which will bring in millions of jobs, will only go into countries that have free and competitive economies, so not supporting privatization in anyway is to the detriment of Nigerians, especially the youth.

Look at the rate China and India are growing. Have any of you so called “elites” or “professionals” kicking against this administration ever asked how they are doing this? Well, I can tell you...they are doing EXACTLY what President Obasanjo is trying to do in Nigeria and they are reaping the rewards. Foreign companies are literally begging to enter their economies and are throwing jobs at their citizens. Don't you want this for Nigeria? If you are going to be against this administration, at least have an intelligent reason for being against it, not kick against every single thing they are trying to do. You are only hurting yourselves and your children. Be smart and read the entire book rather than judging it by its cover alone.

Ade Tay