By John Mayaki

As a Ugandan economist famously defined it, statistics are the eyes of the policymaker. This explains why Nigeria’s Ministry of Finance, Budget and National Planning, where Prince Clem Agba serves as Minister of State, is central to the country’s ambition to jolt the economy back to life following the crippling effects of the pandemic.

Perhaps there has never been a time when the appreciation of the ministry’s role as the manager of the country’s earning and spending is greater than it is today. The pressure on dwindling revenue has forced a reconsideration of priorities. The central government, as a matter of necessity, needs the guidance of the ministry to make important and difficult spending choices. There is simply no room for error. Every penny counts.

It is then to President Buhari’s credit, and the country’s relief, that two thoroughbred professionals with a mind for numbers and strategic brilliance are at the helm of affairs, running the show. Tough times call for strong leadership. Ministers Zainab Ahmed and Prince Clem Agba, empowered and supported by the President, are guiding the country through an extraordinary period of economic uncertainty with uncommon competence.

Before the pandemic hit and long before President Buhari took the mantle, we were already walking tight ropes and nearing the brink. The previous administration effectively frittered away a relative economic boom occasioned by historically high crude prices. There was no serious effort to diversify earnings and plan for the rainy day.

The then coordinating Minister of Finance and Economy who now heads the WTO, Dr. Okonjo-Iweala, issued a warning that went ignored. She foresaw the looming economic quagmire and expressed concern for the fate handed to the next administration. The pandemic brought the rain and it was hard and heavy. Dismal predictions were made; some expected dead people on the streets, eliminated by the new unseen virus that afflicts and overwhelms the immune system, and the plain old one that tears apart the stomach.

But that fate was averted. Not by chance or a stroke of luck, but through timely actions and immense sacrifice made by public health officials rallied by the Federal and sub-national governments. On the economic side, as the country shut its doors and halted trade, Ministers Zainab Ahmed and Clem Agba prevented a complete collapse and saved jobs through a well-drafted and implemented COVID-19 stimulus package.

Prince Clem Agba especially stood out here. His steady hands and management experience, accrued from years of sterling leadership in the private sector, proved pivotal. He has long been an advocate of self-sufficiency in critical areas such as food production. It therefore may not be a wild guess to suggest that he considered the dawning reality that came with the pandemic which saw most countries hoard their national produce, as an opportunity to power national growth and greater economic independence through smart policies.

Some of the results of his ministry’s actions are already obvious. The Economic Sustainability Plan saved and created at least two million new jobs, per recent data. Amid the revenue crunch, the Federal Government, according to a summary provided by Prince Clem Agba at a recent engagement, has achieved 65% completion rate in its construction/rehabilitation of nearly 4,000km Federal roads across the country. It is a government building more with less – a testament to the brilliance of its economic minders.

There is still some distance to cover before it can be definitively said that we have turned the corner. More jobs need to be created and the climbing food inflation must be brought within control. The renewed fear caused by the Delta variant in the West highlights the urgency of lobbying for the quick arrival of more vaccines. But so far so good, the country has coped well – beyond even the expectations and achievements of wealthier nations. Some credit is due here, and this essayist is singling out Prince Clem Agba and his steady hands for recognition and praise. He is repeating the wonders he performed in Edo State, this time on a grander stage and at a time of great national emergency.