“The Senate President is reported to be earning N250m quarterly or N83.3m per month while his deputy earns N50m monthly.

Democracy is popularly defined as a system of government designed by the people for the people. The adoption of this style as best practice of governance by several nation states is supported by the far reaching economic and social progress made by those countries with strong democratic principles and structures.

“We are tired of the military repetitive tendency to experiment with our economy: Today, they say “no controls”. Tomorrow; they say “full controls”.

The issue of the removal of petrol subsidy is one area that has exposed our government’s characteristic indecision and prevarication.

Nigerians maybe forgiven if they do not know that the cumulative effects of the policies of the Central Bank and the Ministry of Finance (MOF) are generally responsible for the level of economic growth and price stability in the country.

In an attempt to encourage Nigerians to see the Jonathan Presidency as a continuation of Yar’Adua’s ‘legacy’, the Federal Executive Council recently announced their adherence to the late President’s controversial 7 Point Agenda.

Inadequate power supply has choked the development and growth of Nigeria’s economy, particularly in the last two decades. The Punch Newspapers editorial of 22/3/2010 explicitly paints this reality.

The Nigerian case is in sharp contrast to the UK response; for example, there is no attempt to curtail the heavy overheads and operational expenses of government at any level. Indeed, quarterly allowances for members of the House of Reps are being considered for upward review from N27.2m per quarter to N42m (see ThisDay, 24/5/2010, pg 1 – re: Jumbo Pay) Abuja Airport Road is being ‘expanded’ with over N250bn, while the airport runway itself will be upgraded with almost N50bn after a downward review from about N60bn. Meanwhile, education and health enjoy less budget allocations than the Abuja runway and Airport Road!

Inadequate power supply has chocked the development and growth of Nigeria’s economy, particularly in the last two decades. The Punch Newspapers editorial of 22/3/2010 explicitly paints this reality. That editorial specifically notes that “Poor power supply has been at the heart of the nation’s wobbly manufacturing sector whose capacity utilization has today plunged to 29 per cent.

The following article is courtesy of a guest columnist, Mr. Adaighofua Ojomaikre, who is also an advocate of the views consistently paraded in this column with regard to the correct infusion process of our nation’s export dollar earnings with the instrument of dollar certificates.

The Dream Economy envisioned in government’s “‘Vision 20:2020’ seeks to position Nigeria as one of the top 20 economies in the world by the year 2020. In economic terms, this translates to having a Gross Domestic Product (GDP) of at least US$900 billion by that date compared to about US$212 billion as at 2008”…. (Source: Nigeria Vision 2020 Economic Transformation Blueprint – pg. 26, work-in-progress as at 5/10/2009.

SIX years after scrapping toll gates on major high ways, the Federal Government is to reintroduce them to raise funds for road maintenance in the country”. The preceding is the opening paragraph of a report titled “FG to Reintroduce Toll Gates, Fuel Tax” on page 15 in the Punch edition of 30/3/2010.

“In spite of the effusive enthusiasm of this Administration, some Nigerians refuse to celebrate the recent debt relief conditions granted by our major creditors of the Paris club. “Under the terms of the Paris club deal, Nigeria will see $18bn of its total debt of $30bn cancelled on condition that it pays the remaining $12.4bn between now and March 2006.

The tenacity of the pro Yar’Adua cabal to hold onto Aso Rock through whatever means must be a testimony to the sweetness of power! Under normal circumstances where political and public offices are geared towards the service of the people, there will be little or no personal gain in capturing power or its retention.

Dr. Goodluck Jonathan, the Ag President, has eventually established a working cabinet inspite of the political uncertainty surrounding the Presidency.