The Federal Government and its N5, 000 surreal allowance

Contrary to a lot of people’s views I actually do like the President (Muhammed Buhari) and his Vice President, yes it’s true I didn’t vote for him, (I didn’t vote for anybody by the way) and I did mention that I didn’t trust that he would have anything novel to introduce to the Nigerian economy but he is actually a good man.

His reputation speaks for itself and his choice in the Vice President in my opinion is fantastic, Professor Yemi Osinbajo is a brilliant Lawyer (S.A.N) and also a man of reputable integrity but me thinks what these two make up for in integrity, brilliance and honesty they actually lack in realistic governance….just a bit.

Nigeria is heading towards an economic recession (if you didn’t know this then I guess you know now)

Crude oil prices dived lower than $40 a barrel for the first time since the financial crisis of 2008 in August 2015, notching their longest losing streak since 1986 and economies around the world are seriously affected.

Investors across the world are losing their investment in stock, and property owners are also suffering losses as a result of depreciation in currencies. With deepening gloom over demand growth from the world’s second-biggest oil user, and expectations for a significant build-up in surplus oil stocks this year, most oil traders are unwilling to stabilize crude oil prices. The market seems to be stuck in a relentless downward trend.

State Governments have had their allocation slashed and for months we have witnessed the unfortunate drama of some states not being able to pay its workers, the Federal Government had to bail some out. 
The President himself has said that Nigeria is too broke  to pay all the Ministers so alas with all this problems why are we even considering paying N5,000 allowance to unemployed youth, how is that even possible.

Let’s rewind a bit, Prof Yemi Osibanjo declared in June 2015, that the Federal Government was keen on delivering its campaign promises by paying 5000 naira to the unemployed and the poorest youths in the country. On the surface it sounds like a great idea, finally they were  not going to renege on their campaign promises, but I questioned the practicability of such an exercise.

What mechanism has been put in place or will be put in place to ensure that indeed only the unemployed and poorest people benefit from this money? What parameters will be used in measuring those regarded as poor? Does the Federal Government have a record and database of unemployed citizens? how are we sure that those who are in charge of disbursing this money would not be tempted to voluntarily continue receiving it on behalf of the once unemployed youth knowing the corruption bedevilling the civil service and society at large.

I will assume that just like several promises made by politicians when they want to be elected into office, this one was just a sugar coated empty promise sold to Nigerians, it didn’t stop the opposition party from trying to use this as a tool against the Government though, Yesterday the Senate  rejected a motion for the payment of N5, 000 monthly allowance to unemployed youths in the country.
The motion was sponsored by Philip Aduda (PDP, FCT) but was greeted with shouts of “no, no” when he tried to explain it.
Attempts by the Minority Leader, Godswill Akpabio, to second the motion were disrupted by the rowdiness.

Some Nigerians are sad about the decision but the truth is that it was a good thing to reject it (for now), The Government needs to channel some of its investigative and corruption fighting energy to other sectors of the Nigerian Polity like Power and the economy. It should concentrate on the most important aspects of creating an investment friendly environment.

If the Government can successfully addresses the issue of security, power and corruption amongst others, he would have successfully given the poor and unemployed more than 5,000 naira because a large number of the unemployed would have been absorbed into the labour market and there will be a great reduction in the poverty level.

Side Note: I am really loving this Opposition tactics being deployed in the senate it’s quite entertaining, maybe some of our lawmakers can finally stop sleeping during sessions and participate in active Law making for once.