Clems Ned

The Forex crisis is the reason why companies are leaving and this has eroded disposable income, what 50,000 Naira could buy in 2019, 100,000 can’t buy today.The erosion of value has destroyed the economy, over the years the problem heightened but in the last 8 years it’s gone terrible. The reason why politicians don’t feel it is that they get free money in contract scams and other means from govt. We have built a rent-seeker system and what that means is that wealth is not made by exchange value for Money in a competitive market, it’s made by connections, bribe and waivers.The model in the long run is not sustainable as we have seen rent-seeking empires crumble from medieval times till today. What we need is behavioral change and fixing the economic model to spur production and removing the attractiveness of political office. People go to politics because of money. Steps to do this Make the National Assembly unicameral Cut overhead cost of governance Reduce salaries of govt officials by over 40% Cut foreign travels by 60% The president must also cut his travels Plough the cost savings into provision of better healthcare,sanitation and education. Use AI to do a proper cost assessment of project cost of the budget. Ensure we reduce variation scenarios so contracts don’t become overblown. Use more indigenous materials for local production, we can use clay to provide housing by modernizing it, our ancestors lived in mud houses so why can’t we develop them. Work with small businesses to set up production zones and incentivize them Work with customs to reduce dumping and also stop governmental corruption. Look for local models to fix electrical challenges like multi grid systems which will feed the production zones. All procurements should be used for local goods. No govt official must be made to buy any foreign automobile with state funds. Remove every luxury from governance. Reorientation of Nigerians on the need for hard work and behavioral change Fix the Justice system and rule of law Start a tribal harmony commission to stop tribal violence. In 5 years we should see visible signs