The Year 2017 has ended with its numerous challenges that tried the souls of many Nigerians. The New Year, 2018, is here with hopes of better times for the nation and its people. 2017 was unquestionably a very difficult year for many Nigerians. It began gloomily, with crude oil, Nigeria’s main revenue earner, selling at about $49 per barrel in January, inflation standing at 17.9 in the first quarter; and the economy deeply in the throes of a debilitating recession.
However, the nation officially exited the recession some months ago, but inflation, which gradually inched downwards mid-year to 15.9 per cent, spiralled to 19.01 in the latest figures for 2017. Unemployment, which was 14.2 per cent in the first quarter of the year, now stands at an unbearable 18.88 per cent. Power supply remained epileptic virtually throughout the year, although now put at “over 5000 megawatts”, while a harrowing fuel shortage messed up the yuletide for all. Food inflation was high, the business climate was bleak, but rising oil prices, which edged up to $70 a barrel in the last week of the year, promise a better outlook for our beleaguered economy and the citizens.
Beyond the economics, last year produced several moments of national anxiety, including 120 days in which President Muhammadu Buhari’s health issues gave many Nigerians the jitters. The Niger Delta Avengers threatened renewed militancy in the Niger Delta region and for a few months, created grave uncertainties about the safety of oil activities. The Federal Government, after initial hesitation, began a peace negotiation which eventually resolved the issues and restored peace. Oil production is now at about 2.2 million barrels per day, raising hopes of economic stability if the government succeeds in sustaining the peace in the region by meeting the needs of the people.
A spirited debate about restructuring of the Nigerian federation created division, especially between some regions in the North which firmly opposed it and much of the South, which solidly supported it.
Infrastructural deficiencies continue to dog the country. Many of our expressways were so bad that they were described as death traps. They still are. Power supply remained a big problem for both industrial and domestic consumers. The rail system, except the short strip from Kaduna to Abuja, did not witness much improvement.
The performance of the Muhammadu Buhari administration in terms of its campaign promises has been mixed. The government did not make a dent on unemployment figures. The war on corruption was resisted all the way and frustrated in the courts. The President made little effort to get his party members and his government to buy into the fight. Several sensational corruption recoveries were made through the efforts of the Economic and Financial Crimes Commission (EFCC), but there were no serious trials or convictions of corrupt politicians.
Nigerians should, however, look towards the new year with optimism. Agricultural growth is up 3.06 per cent and the industrial sector by a surprising 8.83 per cent, thanks chiefly to mining. The external reserve rose to a whopping $34 billion. Oil price is likely to hold steady, thus the economic outlook appears bright.
Security is still problematic. The most troubling is the carnage by Fulani herdsmen for the simple reason that the Federal Government has adopted a policy of willful neglect of the problem, burying its head in the sand like the proverbial ostrich, thereby eliciting great resentment in the country. Boko Haram’s continued onslaught is a ringing testimony to the intelligence failure of the Nigerian military. No amount of armaments would turn the tide of the war until the intelligence situation is rectified. The selling of Nigerians as slaves in Libya is a national disgrace for which a stiff price ought to be paid by Libya and the slave gangsters behind the inhuman trade. But, until the Nigerian government begins to respect the dignity, life and worth of Nigerians at home, our people will continue to be victims of predators abroad.
The new year presents the Buhari government another opportunity to put its hands firmly on the plough and address the challenges troubling the people. It must swiftly address the power supply problem that has put many industries out of business. It should revamp the educational and health sectors and make a last ditch attempt to rout the Boko Haram insurgency. Insecurity is rife in the country with armed robbers and kidnappers having a field day. There is no sign yet that the government has got a handle to this problem.
Therefore, all hands should be on deck to rejig the country’s security infrastructure so that Nigerians can live peaceably. Enabling environment should be provided for businesses to thrive while greater attention and funding should be accorded the rehabilitation and development of public infrastructure.
2018 is a pre-election year. We urge the government not be tempted to unduly concentrate on campaign issues but speed up the machinery for delivery on its campaign promises. The school feeding programme, the N5000 stipend for the most vulnerable Nigerians and massive job creation are some of the government’s promises that are yet to be fulfilled.
We congratulate Nigerians on this new year and hope for a happier, safer and more prosperous year for all.
responsibilities. The Federal Government should also ensure adequate supply of petrol so that the people can travel with ease. We wish all our readers and Christian brethren a merry Christmas celebration.