Diversification Of Nigeria’s Economy

 By

Max Gbanite

maxgbanite@yahoo.com

 

On October 6 – 8, 2008, a successful summit titled ‘Northern Nigeria Economic Summit’, organized by the conference of Northern States chambers of commerce, industry, mines and Agriculture (CONSCCIMA), established in 1980 with headquarters in Kaduna and affiliated to the National body, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), was held at Sheraton Hotels & Towers, Abuja.

 

My good friend and well respected international statesman and currently undersecretary for Africa in the United Nations, Professor Ibrahim Agboola Gambari, chaired this great summit; supported by the Keynote Speaker, Rt. Hon. Shaukat Aziz, former Prime Minister of Pakistan.

 

Historically, CONSCCIMA falls under the category of organized private sector (OPS) body made up of the Chambers of Commerce in all the 19 states of Northern Nigeria and FCT.

 

The vision of the chambers since inception is ‘to have a highly industrialized Northern Nigeria with the private sector as the major driver of economic development and in which the inhabitants have one of the highest standards of living in the world. ” Unfortunately, the vision does not tally with actual observation of industrial Northern Nigeria. As a fact, Many industries established by the Federal Government and Private Sectors clustered within Kaduna and Kano Metropolis vicinage have become extinct; especially the textiles industries and support factories; causing rising unemployment and security risk within the citizenry.

 

The Mission statement of ‘CONSCCIMA’ is

a.                 “To attract massive local and foreign: Agriculture, solid minerals, infrastructure, education and banking & financial services;

b.                To be a partner of choice for all stake holders who are desirous of working towards the reversal of the present state of underdevelopment which pervades Northern Nigeria.”

 

Going by the above mission statement, it is in order to situate previous leaders of the chambers and former governors in various states of the North as failures. If they had not failed, Inland Bank established by Bauchi State would not have failed; the bank is currently owned by non-Northerners and renamed ‘FIN BANK.’ Also the Bank of the North now called Unity Bank would not have been lost by the North; the failed industries would still be functioning and employment would have risen and there would have been less poverty.

 

If the vision and mission of CONSCCIMA were properly articulated collaboratively between the previous governors and the chambers, the north would have been swimming with success stories to the extent that professor Charles Soludo, current Central Bank of Nigeria (CBN) governor and Dr. Magus Kpakol, the Presidential envoy on poverty alleviation would not have posited that the North has the highest rate of poverty… in short, very backward in strategic development all around. As upset as many felt, the crux of the matter is simple: These past governors failed the North; especially in the areas of industrialization, infrastructure development, except in Agriculture; then again Agriculture too is not in the hands of the rural community, but in that of wealthy farm barons; usually retired army officers and civil servants who stole enough money from the system.

 

Let us take a look at some of the objectives of CONSCCIMA:

 

·                    Promote the growth of the private sector in Northern Nigeria for sustainable and accelerated economic development.

·                    Provide a platform to articulate the business interest of Northern Nigeria including initiating, supporting or opposing legislative, executive or judicial actions in furtherance of business interests in Northern Nigeria.

·                    Encourage the industrialization of Northern Nigerian based on our abundant human and natural resources.

·                    Encourage the growth of micro, small and medium scale enterprises throughout Northern Nigerian and organize informal sector.

 

·                    Facilitate capacity building for entrepreneurs, business leaders, Government Officials and all stake holders; and finally.

 

A strategic evaluation of these objectives tells one that they are attainable if those responsible for leadership and governance today in the North are altruistic with the vision and political resolve of the late, Sir Ahmadu Bello, the Sardauna Sokoto. Although, the current crop of political gladiators and many governors from the North ignored this important summit; there is room to move forward.

 

While not joining issues with the governors that failed to come or at best send a representative, I am compelled to commend the few that came and not only coming but participated fully. Therefore, I salute Alhaji Isa Yuguda, and his deputy Alhaji Mohammed Garba Gadi (Bauchi State), Alhaji Shinkafi (Zamfara State) and Admiral Murtala Nyako (Adamawa State).

 

The absence of others does not truly show a robust approach and commitment to development that is currently required in order to move the region forward toward the much coveted 2020 initiative of President Yar’Adua.

 

CONCLUSION

 

A statement I read in the summits brochure under the photograph of Sir Ahmadu Bello should be enough to galvanize and invigorate the new leaders in the North to go beyond personal agenda and build on a collective agenda to rebuild the vast region in the larger interest of Nigeria; the statement reads thus, “Visionary leaders build men, and build institutions, men and institutions build the future… we see in tomorrows Northern Nigeria Exceptional business people and professional world class schools, industries and a prosperous nation. In the eyes of Sir Ahmadu Bello we see the greatness of a wealthy Nigeria, let’s build our economy, we dare you to see more! Let’s act together.”

 

The above statement buttressed the position of the chairman of the occasion Prof. Gambari, who advised that “the north must see the re-industrialization of the north as a national strategy to the diversification of Nigeria’s economy and not that of the north alone.” Furthermore the keynote speaker Dr. Shaukat Aziz, reminded the audience that the successful Pakistan model lies within the  infrastructure development and capacity building of the rural communities; and if followed  in Nigeria would create opportunities abound, and help to grow the nation.

 

Both speakers were very correct, and I add another dimension to the matter by stating unequivocally that the vehicle with the audacious infrastructure to rapidly move the north out of poverty is New Nigerian Development Corporation (NNDC); formerly Northern Nigerian Development Corporation; a fifty year old institution put in place by the late Sir Ahmadu Bello.

 

 I developed a keen interest in this veritable organization while conducting research and collating materials and data for an academic work which I hope upon completion will be one of the blue prints to be considered for the diversification of Nigeria’s economy. The strategic security of this nation must compel those in leadership to seek alternatives to oil and gas. In pursuit of these alternatives I traveled to the 19 states of the North and other parts of the country by road, and was able to gather information on the vast potentials of the Nation.

 

Incase you are wondering why NNDC? Well, because they already have in existence a solid structure to deliver what is needed. They have rights to about 19 different solid minerals; limited investment in few banks; cement industries; support agriculture through the importation and marketing of fertilizers to Northern farmers; and currently training Northerners in ICT and Accounting.

 

Now imagine this: Had the past governors of the 19 Northern States that own NNDC kept their recapitalization promise of infusing one billion naira each into the organization, totaling 19 billion naira. The funds would have enabled NNDC to take over Bank of the North, Inland Bank, and acquire some of the failing textiles industries in the North in Partnership with ‘CONSCCIMA,’ and interested private citizens and foreign investors.

 

The funds would have enabled NNDC to quickly develop its gas reserve of almost 50 billion cubic tones located in Benue trough; which could have lead to the setting up of at least four fertilizer plants within the various regions of the North. The Capital infusement would have given NNDC the capital base strength required to attract foreign investors in the areas of solid minerals explorations; NNDC would have been in position to acquire the Kaduna refinery, while building its own version of petroleum Marketing Mega-Stations to compete with that of NNPC; the capital would have enabled NNDC to construct at least 300 – 500 low income housing units in each of the state capitals for the benefits of the North, and even construct commercial hostel accommodations around the established universities within the North to ease problems of student accommodation. Imagine the millions of jobs that could have been created especially for the youth and women; more importantly the rural empowerment and capacity building this noble act would have achieved.

 

 The current northern governors must act decisicively now and they must not see NNDC as rivals; rather they should see the organization as collaborative partners in the diversification of Nigeria’s economy. I see possibilities and opportunities that can easily be attained. Nigeria can easily be a producer and exporter of Bentonite, Byrite, Iron-Ore, Bauxite, Coal, Zinc-Ore, Zaphire, processed Gum Arabic and many more if the Northern governors in collaboration with NNDC and ‘CONSCCIMA’ and supported by the Federal government, have the political resolve and determination to visualize the strategic importance of doing what is right.

 

However, to be able to get there, these governors must take a look within and ask themselves a truthful question… what will be their Legacy when ‘they are done; how do they want to be remembered? While they are answering the questions, my instincts still informs me that New Nigeria Development Corporation, (NNDC) still stands as a veritable partner for them in their journey to wealth creation, capacity building – human and otherwise, and diversification of Nigeria’s economy.

 

If in doubt imagine what the leaders in Dubai and Doha have accomplished for their people. Is it God’s will to keep the north in perpetual poverty because a leader is afraid or lacks the political resolve to do the right thing for the people? We must discard the oligarchist mentality and do what is right for the north and Nigeria.