The rate of economic development and growth across the globe amongst nations, is tied to the coordinating critical role played by agencies in each nation.
No wonder economists teach that respective agencies and institutions in nations determine long-term economic development and growth. As such, public agencies are much more crucial in economic activities.
Conversely, in recent times, as the global economy continues to unfold, there are complementary roles public agencies play together in making sure that the economic result is positive.
Although, each of the agencies have its own unique and set out priorities on what to do, how to do, when to do, as well as to whom to do for.
For instance, the Central Bank of every country is the Master Baker of Monetary Policies that impact reasonably on the interest rate, inflation, cash flow, credit access and the general economic output from micro and macroeconomic levels.
Nevertheless, the manner of which the Central Bank dishes out its policy essentially impacts every sector of the state such as Agriculture, Transport, Education, Health, Security, Aviation, Telecommunication, Power, Hospitality, Infrastructure and many others.
Therefore, the failure to have a linkage policy with positive bearings on all sectors can be destructive and counterproductive.
In all honesty, Nigerians are not finding it easy with the economy. One may need to ask pertinent questions regarding the role of numerous government agencies in Nigeria.
Instructively, also if one should interrogate: do government agencies have a role to ensure Nigeria economy develops and grows satisfactorily? The simple answer, in short, is yes. However, one critical question is that its answer cannot be categorically affirmed as “yes” is. How much contribution is coming from government agencies to enable the economy to grow? One may be disappointed in the answer from the question above.
Because, over the years we grapple with little or no appreciable contributions from government agencies, rather we are confronted with official excuses that define the poor health of the economy thus far.
For instance, some of us are envious of the successive interventions of the Central Bank of Nigeria (CBN) cutting across multi-sectoral levels. These CBN interventions run into trillions of naira in the last seven years.
Take for example the CBN interventions in the power sector, particularly in Nigerians’ expectations which should translate to steady power supply. That is, key to Small Medium Enterprises (SMEs) and large manufacturers, but the result of that intervention up till date are excuses upon excuses. Sadly, also, our National Grid is collapsing on a monthly basis.
Another is the agricultural sector where public spendings in billions of naira is not in short supply. Regrettably, surging food prices on a daily basis cannot be comprehended, even as the fear of bandits keeps farmers away from planting – a prediction of the looming food crisis we are being told.
What can we say about the security sector that has been most enriched with trillions of naira. Ironically, poor performance in taming insecurity points out we are not ready yet, while elements responsible for insecurity freely live amongst us and kidnappers walk freely to enjoy proceeds from ransoms collected from their captives. Indeed, our security agencies have since lost touch with the reality that there is a strong correlation between economic growth and security.
A look at infrastructure, roads for example, across the country from federal, state and local governments are in pitiable conditions. Good road network alongside other infrastructure definitely is a leeway to ensure a stable and enabling business environment. Agencies in that sector for a long time now are the very roadblock to successful completion of projects. In recent times, contract re-evaluation between government and contractors is now a normal procedure to bypass procurement rules and regulation. And these are deliberate acts fueling the cycle of corruption in that sector.
The economy in our estimation suffers majorly, as it is dependent on foreign technology, and failure to deploy local technology know-how. Although, the establishment of the National Agency for Science and Engineering Infrastructure(NASENI), with its over twenty specialised sub-agencies, was in the right direction. Unfailingly, NASENI is expected to lead the industrialisation of the nation by feeding the manufacturing sector with tools, machinery, equipment, spare parts and many other complex but innovative engineering. Alas! Where are we with NASENI? Hence, there should be an interrogation of the people in charge of NASENI about what is hindering their contribution to the economy. Their reply, perhaps, would be the same official excuse that other government agencies lament over.
Don’t be surprised to receive the same excuse from the National Automobile Council (NAC) who, since inception, have contributed nothing towards the economy.
We can go on and on highlighting several agencies of the Nigerian state having little or nothing to contribute except to draw on budgetary bills.
One is pained seeing beautiful edifices of many of these agencies and enraged as the economy keeps stinging masses.
For us, it is a shame to have arguable agencies without any corresponding contribution to the economy. The contention that they employ people to be paid salaries is so serious as their core mandate to impact the economy. We must appreciate that agencies of government in their totality are not charity or foundation outreach, because at the face value and value chain of every government agency, is to steadily grow the economy. Arguably, why is ours not so?
Our stand, what should be done going forward? First, there is a need to remove any hindrance against government agency role towards economic growth. The primacy of economics first should be their priorities in promoting economic growth.
Secondly, the factors determining economic and human development are open access in the economic sphere.
Our suggestion is for a linkage and interconnection in agency activities. For instance, nothing stops CBN and NASENI in collaborating on technology innovation for manufacturers and the Agric sector focused on its interventions.
Thirdly, we equally believe that inter-agencies collaboration should replace every form of inter-agencies rivalries.
On the collaboration of economic activities among government agencies in resources development and finished product, nothing stops the National Agricultural Land Development Agency (NALDA), from partnering with NASENI to produce all its farm tools, equipment and food silos.
Lastly, we need to evidently establish a mechanism to check and monitor the contributions of these arguable agencies to the economy. This is necessary to balance their sphere sufficiently, towards economic growth.
For us, a practical demonstration to achieve economic growth can only be achieved if government agencies cultivate linkages that embrace economic integration, interconnection and networking.
Although, we appreciate the present political climate of democracy which stresses popular participation by all. However, political democracy alone cannot put food on the table. It paramountly needs public agencies’ steadfastness to ensure economic growth and stability.
***Adefolarin A. Olamilekan, Political Economist and Development Researcher, Email: adefolarin77@gmail.com, Tel: 08107407870,08073814436.
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