There is an economic hardship in the horizon for
Nigerians as PDP unravels and its core splinters. For many years, PDP chieftains and their
cronies used Nigeria’s treasury as their personal bank account. The primary source of PDPs revenue dried out
when PDP lost the reins of the Federal Government, and the loss of their main
sources of funds created bickering in its ranks. As they say, money problems are behind many
marital separations. In the efforts to
hide its fracturing power-structure, PDP blamed President Buhari and his
administration for every woe in Nigeria including Mr. Goodluck Jonathan, PDP’s
emblem going on self-exile.
Now that its weak attempt to divert the people’s
attention is failing, including its instigation of terrorist groups in its
stronghold areas, PDP is yet to find a satisfactory explanation to the people
why the party grossly mal-handled Nigeria’s revenue. PDP finally fractured when the attempts to
re-invent itself failed. Now Nigeria has
Senator Ahmed Makarfi led PDP; Senator Ali Modu Sheriff led PDP, and Chief
Perry Opara led PDP.
The issue here is that PDP holds the economic power in
Nigeria from the money they sequestered while controlling the Federal
Government of Nigeria. The party’s
current state of disarray creates financial insecurity among PDP’s factional
chieftains and their cronies, forcing them to start operating in austerity
mode. There will be an economic hardship
in Nigeria as the group that controls the economy of Nigeria tightens their
grip on cash flow into Nigeria’s economy.
Nevertheless, the fragmentation of PDP has some
beneficial side effects to Nigeria, even though it will initially cause
economic hardships. The financial
incentives to terrorist and militant groups in the South-South of Nigeria will
dry up, thus, abating their destructive activities.
Unfortunately, the Inner Circle of APC is resting on its laurels; they are neither embracing nor welcoming (I said the same thing about three months ago).
ReplyDeleteThe snail pace of which President Buhari's administration is doing everything is alarming. For example, former President Goodluck Jonathan appointed Godwin Emefiele, the managing director of Zenith Bank the President of CBN. Zenith Bank is the backbone of PDP. Emefiele watches billions stolen from the Nigeria treasury without doing anything, and for the past one year, Emefiele has constructively sabotaged Nigeria’s economy. The Federal Government condones Emefiele as if President Buhari wants the people to perceive him as a saint. If Goodluck Jonathan summarily dismissed Mr. Sanusi Lamido Sanusi for blowing the whistle on him; why is President Buhari retaining Emefiele for wrecking the economy?
Right, if we give them a long enough rope, they will hang themselves; but, that might take ten years or more.