Unlearn old ideologies ~ Oby Ezekwesili

Dr Oby Ezekwesili has counselled President Buhari to be opened to unlearn old ieaologies and embrace new economic thinking models of pragmatism. The president will need to allow principles of the market enforce discipline upon all economic agents to redirect the path of our beleaguered economy, she said. Dr Oby wrote that the aim of her article is “to get President Muhammadu Buhari to reevaluate his obvious discomfort with the workings of a market economy and change so that he can effectively lead the CHANGE agenda that he promised Nigerians.”

For many that may not have time to read the 3380 words article, see highlights that stood out for me

“Many presidents assume office with good intentions but faulty ideological notions of what it takes for economies to grow and improve the lives of citizens. The more entrenched the ideologies and doctrines that leaders hold on to, the harder it is for them to embrace economic pragmatism.”

“I am a fanatical supporter of our President’s anti-corruption agenda because one knows from analyses how much of an obstacle to economic growth and development, poor governance is to the Nigerian society and economy.”

“I am however not at all a fan of President Buhari’s economic management. Our president’s economic policy direction should worry even the most ardent of his admirers. From his interest in reviving federal government ownership of a national airline to his obvious comfort with exchange controls, the president has left no doubt that ideology is strong in the way he thinks of growing the economy.”

“Currently, the danger is that we seem to want to return to the pre-1986 era of command and control that was inimical to economic growth. What the president needs now is to save the economy and save the Nigerian poor that form the largest base of his supporters.”

“I am neither a laissez-faire free market ideologue nor believe in the other extreme, a stultifying government control. I am for economic pragmatism all the way. Command and control harms the intrinsic creativity and innovation of the market system which lies within private sector. Economic pragmatism is what has helped more economies in the world including in Africa to grow faster and better.”

 

Read the full article here: https://www.thecable.ng/.VtM9_dNN1WY.twitter

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