Now that governors have so much money
Chidorum Nwakanma
Experienced business leader, author, and specialist in integrated marketing communication,
I made this call first in September 2023. I am repeating it in light of recent happenings on the streets of our major cities featuring citizens’ demonstrations against hunger. It is not yet Uhuru. The change will happen only when the Middle Class begins to pay more than a passing interest to how the government manages the three key rates -inflation, exchange, and interest- and their consequences on GDP and livelihoods.
Arise, O compatriots, obey the call of accountability. Demand actual dividends of democracy in performance management from your governors and local government chairpersons. Do so in tears because your pains from the Tinubu Fuel Tax have inflated the coffers of the federal and state governments.
Have you heard the news? Funds available for distribution between the Federal Government and the states have doubled since June 2023 because of the higher income from increased fuel prices. In other words, as citizens suffer the pains of higher prices individually, states at all levels of citizen representation have more funds to carry out their duties.
Reports state that total distributable revenue increased from N786.16 billion in May 2023 to N1.9 trillion in June 2023. It similarly doubled in July 2023.? One of the fallouts is that President Bola Ahmed Tinubu authorised an Infrastructure Fund with each of the 36 states getting a minimum of an extra N2b.
A more recent accounting in February 2024 showed that the states have received, on average, 50 per cent higher revenues since June 2023.
You can correctly deduce that the federating states are flush with cash. They have never had it so good. Some of them have gone on a spending spree. It means citizens should also block their ears to any stories about the lack of funds from the state governments. It is most probably untrue.
Call of the Middle Class
We stand at a pivotal moment for the Nigerian middle class. It must move from the chattering class to play the historical role of the middle classes in societies that have witnessed growth and development. The Middle Class is the driver of change everywhere.
The Nigerian Middle Class is responsible for the state of our democracy. A high level of citizen apathy characterises Nigerian democracy. It comes alive briefly during elections. Even that has declined with the voter figures recorded in the 2023 General Elections.
Economic conditions often combine with the political. Will the higher fuel prices cause enough disruption to wake the Nigerian Middle Class from its slumber? Will they carefully question the self-allocation of more funds to the National Assembly and the Executive while squeezing citizens or insulting them with desultory palliatives?
“Power concedes nothing without a demand; It never has and never will”.
Frederick Douglass, the African American abolitionist who escaped from slavery in Maryland and became one of the leaders of the abolitionist movement, stated the above. He was a Middle-Class activist.
Research shows that the middle class has significantly influenced political developments and social change in many countries worldwide. They have been at the forefront of movements for democracy, human rights, and social justice.
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The Nigerian middle class led the struggle for independence, for returning the military to their barracks and the return to civil democracy. Critical players in that struggle stopped playing before the referee’s whistle. The result is what we have and lamented for 24 years. We can do better only if the middle class gets involved again as citizens.
Here are some examples of the role of the middle class in political developments and social change.
The middle class is often seen as a stabilising force in society. They are more likely to be politically active and to support democracy. They are also more likely to be tolerant of different cultures and ideas.
In Nigeria, the middle class can do more.
Here are some of the specific ways in which the middle class can play a role in political development and social change:
The role of the middle class in political development and social change will likely become even more critical in the years to come. The key is greater involvement and less aloofness.
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BA Ed, MA,MSc, ITC, PhD .Media| Strategic Communication|Research|Writing|Publication Advisory|Manpower Development|ADHRM|Poet
9 个月They will steal all.
Managing Consultant
9 个月Yes, there is so much emphasis on how FG manages the key rates ie inflation, exchange, and interest rates.If we can not effectively manage these rates we may likely slip into another recession.In fact our GDP growth is on downward trend.In most countries of the world especially advanced economies , they use adjustments in their Monetary Policy Rate or Policy rate to control inflation.US Federal Reserve Bank adjusted their policy rate upwards last year for about three times or more,Central Bank of Nigeria(CBN) increased MPR a number of times last year.Other advanced countries and emerging economies moved in tandem with US Federal Reserve Bank.Let us note that MPR or policy rate drives other rates in a given economy.