Former Secretary to the Government of the Federation and former presidential candidate, Chief Olu Falae, in this interview with ADELEKE ADESANYA, proffers solution to the ravaging economic challenges confronting the nation lately. The incumbent National Chairman of the Social Democratic Party also speaks on political issues amid sundry national issues. Excerpts:
The Nigerian economy is currently in a recession and this has resulted in a hardship for every Nigerian. As a former finance minister, where do you think we’ve not got it right?
It is quite unfortunate that with the look of things our economy is that of the under-developed and recently the fall in the price of crude oil has seriously compounded our problems. Apart from this, infrastructural shortages like power and roads, all have combined to make doing business in Nigeria difficult and due to all these, we are sinking more in problems on a daily basis. Also, when there is no foreign exchange, it becomes difficult for people doing business to buy foreign exchange at reasonable prices and to be able to import machines into Nigeria at reasonable prices. The whole thing is compounded, many companies have closed down in this past five to ten years because of shortage of electricity or unreliable supply of electricity and now there is shortage of foreign exchange, you can’t bring in raw materials and machines.
With what you have identified as the major problems, what do you think is the way out?
The way out is for government to start thinking in the right direction. And how will they start this? They should start by prioritising right. For instance, they should prioritise and put emphasis on reopening all the closed factories in this country. And for this to be possible, electricity must be given the first priority and be given the best attention in the next twelve, thirteen months so that industries can get power within this period. And if I may tell you, if this happens, no fewer than 100 factories that have been closed will reopen and there will be employment opportunities for a lot of people. That is a way to improve the economy, increase power supply so that we can reopen the factories and also give priority to raw materials and machinery, so that manufacturers can get foreign exchange at market price and will have it in sufficient quantity to open their factories. If you do all those things, improve power and foreign exchange to agricultural sector and manufacturing sector, within 24 months you can begin to generate a few million jobs in manufacturing and commerce, and our economy will come back alive within a short time.
Lately, there have been calls on government to diversify the economy in order to gain balance. How will you advise that this be done?
That one is simple. Nigeria as a nation has agricultural advantage, which has been there even before oil. So, diverting into this is the best at this time. And when this is commenced, our people will first be well fed before we start exporting to harness revenue. Nigeria has very huge amount of fertile land. So, what you need is to start from the local government level, state government level and to the Federal level to private companies, to cooperatives. In fact, I believe it is time, for all of us to put our number one priority on agricultural production in this country because that is the industry we all patronize everyday because, at least we eat once a day. So, if you put priority on that and you take the 24million unemployed youth and put half of them on the lands, give each two or more hectares of land, put a block bungalow on the plot for each of them and give them the basic impute, after three, four years of the investment, you will see what this country will turn to. We will have enough to feed our people and we will start feeding countries around the world. We will also have enough for the manufacturing industry for processing. So, these are the quick things that we can do to put the economy forward. And I believe it is the best thing this government should be thinking of.
But with your suggestion on agricultural diversification, do you think Nigeria has the capacity to achieve this?
If we are to look at it, we have critical shortage of manpower skill in this country, and that is why I always say it that Nigeria needs what is called international partnership training system. This will help to continuously train our people in several areas apart from agriculture. This country needs to produce skillful people in mechanical areas like engineering, carpentry, and others that swill sustain the economy. And for this to be achieved, we need proper partnership with developed countries to help us. And in the nearest future, this country will gain its proper ranking among others in the world.
What do you think will be the permanent solution to the problem of insecurity in this country?
Let me tell you, whatever form insecurity takes in this country, I can tell you that its common source is poverty. If the Nigerian economy is fine and everyone is having more than enough for himself and his family, do you think there will be anyone that will volunteer himself to be used as devil’s tool? Be it Boko Haram, Niger Delta militants, Fulani herdsmen, whatever name they carry, I believe that the situation of the economy is the major cause of their existence.
There is this rumour now making the rounds that your party, the SDP, is being positioned as a fallback for the Southwest in the event of a major split in the ruling APC in the future. What is your take on this?
I have been hearing this from the media over some time, but if I may tell you, what is clear is that nobody can programme me. And I don’t think anyone will want to try that. For me, Principles drive my life. There is no doubt that Nigerians, including the entire Southwest, loved the SDP because that was the party with which Abiola won the presidential election. The military annulled the election and the party in vengeance. And for some of us, who value the norms that brought us together from all over Nigeria, we believe that the party should not die. And that was why we went back to resuscitate it. We could have been using the name SDP much earlier but because of the military ban placed on it.
SDP is the home of 80 percent of Nigerian politicians; 90 percent in Southwest, 90 percent in South/South and Southeast. It was our common home. We have hoisted the flag; leaders who joined parties out of opportunism and are now stranded, any of you feeling distressed where you are, should come home, not only from the Southwest but all over the country. What distinguishes this party from the others is that it is founded on welfarist ideology and blessed with good leaders who are unrepentant welfarists. In the south-west, people like myself, Ayo Adebanjo, Olaniwun Ajayi; we are unrepentant welfarists we will not go and join any party to become contractors, it does not arise.
The current administration has intensified its fight against corruption in the country. As an elder statesman, do you think it should be more in political or financial direction?
For me, corruption is corruption. Once a sector is corrupt, it affects the rest. If corruption persists in politics, then other areas will definitely be affected. For instance, if I used unfair means to become a governor or president by using public funds to sponsor my election, I have no moral basis on which to stand to ensure that things are properly done. First of all, it shows that I’m not a fairminded person. Then, I will use such unfairness in other areas.
So, if my politics is corrupt, it is sure to spur corruption. In reality you cannot separate the two. But if you want, I will say political corruption should come before fighting corruption in other areas, because it is on politics that other things, when it comes to governance, leverage on.
What do you think of the current situation of the Nigerian polity?
The polity is not at rest; it is unstable today and may remain so for a long time. Various parties are tenuous; PDP is in disarray, APC, internally, is in difficulty. There are fissures and fault lines that we can see: the Saraki group, the former PDP and other groups that are there, you can see original CPC; Alhaji Atiku has already declared his own intention to run in 2019. So, there are three or four parties within that party! And the Tinubu group, the original ACN; they are there, held together only by power. Obasanjo used to say PDP was not a party, that it was only patronage that was keeping them together. That is exactly what is happening today. The fissures and fault lines in APC are more vicious and diverse than what was in the old parties.
So, the moment of truth will arrive when potential crises will be known by all. And as a politician, I am not unaware of all that is going on.
What is your view about a recent report that INEC should deregister some political parties?
This is one of the issues that I always see as problems in this country. As Nigerians, we are always in a hurry to do things. We want to force things. It is not necessary it is like in the economic domain; many people can set up factories producing the same soft drink. All of us could start producing coca cola; over time the market will vote for or against your product. Call it constructive destruction; that could happen, let there be a thousand parties. Do you know how many parties they have in Benin Republic, which is smaller than Oyo State in area and population? Sixty! How can you say we have so many parties; there are so many interests in the country. What we need to recognize is that every party needs not be a national party. You should be free to set up a party for Udi. You want to control Udi Local Government. Other people should be given a chance to do similar thing; you want to be chairman of Udi local government council not even the governor of Enugu State. In America, most parties are local: Green party, in Britain there are more than 30 parties, but you hear only of Conservatives, Labour and Liberal parties. You have heard of Green Party, UKIP, have you heard of Raving Lunatics Party? Let every interest rear, in the contest there would be natural attrition. Parties should be allowed to die naturally. It is very expensive to maintain a party; when you cannot run it, it dies. Let the process be natural; who forced five parties to come together. Don’t deregister anybody; you are denying people the right to politic.
