Monday 5 November 2012

I am one of those praying for Nigeria’s oil to dry up” – Oby Ezekwesili

by Isi Esene
Oby Ezekwesili, the former World Bank vice-president for Africa, over the weekend said she prays for Nigeria’s oil and gas resources to dry up soon so that the government can stop its over-reliance on petroleum.
She urged the federal government to do something urgent about the spate of unemployment in the country which she said was reaching alarming figures. She put Nigeria’s unemployment rate at 40 per cent.
“I am one of those Nigerians who are praying for Nigeria’s oil to dry up so that our government can quickly take immediate actions towards diversifying the nation’s source of revenue.
“Alternative to oil should emerge immediately to cure the oil politics in our nation.”
Ezekwesili reportedly said this at the 16th Success Digest Enterprises Awards Presentation Dinner in Lagos.
She said, “Nigeria ruins its opportunities to grow economically with the likes of Singapore, Malaysia etc that had their independence almost the same period with our country, simply because Nigeria lacked the instrumentality of entrepreneurship of the public sector which had helped its contemporaries to grow tremendously.”
She said the government needs to do something more critical to address the problem of unemployment suggesting a census of unemployed youths in the country to know the magnitude of the problem with a view to effectively addressing them at all levels.
“Government at whatever level should be responsible for addressing this and create jobs. Half of our population is youth within the ages of 18 and 32, but about 40 per cent of our population is unemployed. There is an average of two million new unemployed youth every year joining the existing stock year by year. I suggest that a census of unemployed youth be done in Nigeria immediately.
“Government has a responsibility to the people by providing necessary and adequate infrastructure needed to boost the economy. Taxation and other levies should not be a hindrance to business if government is able to provide every amenity needed by entrepreneurs as it is in the United States that is regarded as father of capitalism.
“Public sector has responsibility for describing the direction and vision it wants the economy to go. Public sector requires quality leadership to build good nation. For a new Nigeria to emerge, we need a public sector that has entrepreneurial mindset that should be able to spur the private sector towards achieving economic growth. Our governments have underperformed over several decades as the country has been driven with people with deficit of integrity, lack of confidence, lack of competence and above all lack of structural innovation ability.”
She concluded by advocating the establishment of a decentralised nationwide entrepreneurship diagnostic programme to reduce the rate of unemployment.

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