August 02, (THEWILL) – Abraham Lincoln, the great one once said, “You cannot escape the responsibility of tomorrow by evading it today.”
Nigeria’s ineffective Micro Credit Administration and Management, will not only be a problem that will continue to make us lose many things, in terms of revenue generation, employment generation, security of lives and property, as well as social vices among youths.
The present Government, under the leadership of his excellency, Asiwaju Bola Tinubu, needs to really think out of the box and be more practical as true democrat, who has been known to be on the side of rule of law, by playing down the “minister of state”, which a former minister in last administration tagged as unconstitutional, by exhibiting the competency of his government and its direct co-travellers, who should take up core ministerial job to assess everyone’s assignment at any given time, by so doing, the problem facing the country will tackled be with creation ministry of employment and direct wealth creation, this ministry should be saddled with responsibility of making federal government secured micro credit scheme that will be made available at every polling booth in the country.
This polling point is where the real authority is being derived by individuals who aspire for elected positions in Nigeria and turning the place into an economic empowerment centre should not be difficult things to really return the power to the people, these programmes can form part of the succour to cushion the effect of the out-lawed subsidy payment, to have meaningful impact leaders at community development association or autonomous community level, as it is being referred to in some quarters, it can be mandated to identify the indigent, but industrious in various communities with no interference whatsoever be it non-Government organization, Civil society Organisations, other tiers or arms of government, other than the federal ministry of employment and direct wealth creation.
International Monetary Fund (IMF), in one of its reports, says there will be a “big funding squeeze” in sub-Saharan African Nations, which is estimated to drop to 3.6 percent, this ugly development will not only affect funding for development in critical sectors of the economy like education, health, Infrastructural facilities. For a workable democracy, there must be a correlation between public investment and public revenue, no matter how deep the pocket of any political office holder, he can’t perform any miracle outside the potential he met on ground.
Recently, a news story was widely reported, that a lady lost her life in Abule Ijoko Lemode, Ifo, close to Lagos, due to her husband’s inability to pay up a credit amounting to about N70,000, the equivalent of about $100, the situation would have been avoided if the loan is guaranteed by the government, as we are told that the borrower has never defaulted in the previous credit obtained by him.
*** Written by Kemi Otunuga wrote in from Lagos.
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