FINANCIAL MATTERS: Reflections on yesterday

FINANCIAL MATTERS: Reflections on yesterday

Stocktaking is one of the year-end’s favourite handmaidens.
There are few ways better to end the last twelve months than to tote everything
that had transpired, and compare the resulting balance with the targets we set
ourselves at the beginning of the year. The gaps that then show up explain why
this is also the wish and resolution-making season. When, against the backdrop
of the many failures of the outgoing year, one resolves to approach the
challenges of the New Year differently. It affords little solace at this point
that not enough of the resolutions reached at the beginning of the year will
remain come the end of the cycle. Far more significant is the catharsis of the
process.

The process of enquiry, review, and resolve is especially
poignant in the run up to the general elections next year. On an annual basis,
we cannot claim, as a country, to have met the different targets we set
ourselves at the beginning of the year. As a country, consensus is that over
the last five decades, we have failed in every aspiration but one: “to keep
Nigeria one”. And even the utility of that aspiration has come in for some
serious questioning of late.

“How much of our fecklessness, is the result of the apparent
incompatibility of views amongst the constituents of the republic, on
everything from development paradigms, to moral schemes?”

Still, the countless gaps in our lived space push us in one
direction only. At the end of the inventorying exercise, what may we wish for
legitimately? A “better Nigeria” obviously!

This wish list is not without difficulty though.

For instance, how we define “better”. What does it consist of?
In what does it inhere? The most successful experience in living memory of a
country resolving the problem of large-scale poverty on an industrial scale is
provided by Communist China. Proceeding from this example, it is clear that
“better” need not be “democratic”.

Yet, there is that attribute of “democratic rule” that makes it
difficult to find a jurisdiction that is simultaneously democratic and failing
in the way most countries on the African continent are.

A wish list for the New
Year

Increasingly, it is clear that conspiracy theorising won’t do as
an explanation for failings such as ours. Our wish list for the New Year might
thence benefit more from focussing on the local constraints that have held
achievement of our sundry goals back for so long.

Discussing with a friend a week ago over the right person for
the office of president come next year’s elections, the limiting constraint
appeared to be a choice between a better managed economy (the focus over the
last one year of my musings on this page) and what my interlocutor referred to
as the “citizenship question”.

There was so much to do about which of the candidates currently
on offer best epitomise these values. Nonetheless, I’m still uncertain that
these constraints are antipodean enough to have generated that much heat.

Thinking back on the discussion I cannot but wonder how true its
underlying arguments are. I have no doubt that a focus on getting economic
management right lends a stronger fulcrum for leveraging this country’s growth
than concern with “citizenship issues” could.

This incidentally is not just because the latter is conceptually
more challenging. Nor is this to detract from the importance of “citizenship”
properly defined as part of the process of properly managing economies.
However, the tension between “managing the economy for growth” and “resolving
the citizenship question as an integral aspect of governance” reaches back to
the old “basis” and “superstructure” argument that lay at the heart of Marx’s
“dialectic materialism”. Easy to conclude from this, that “it’s the economy,
stupid”.

But is this all? What place does governance play in all of this?
How much would we achieve were we to appraise contestants for political office
on the strength of their grasp of the challenges faced by this economy? Or
based on their understanding of the need to (and best means of) address(ing)
the “citizenship question”.

Not much if you ask me. For be far more important are the structures,
processes, rules, and enforcement mechanisms by which the country is run. If we
do not attend to these, we strive in vain aspiring to other goals. Better
therefore to expend effort in the short time remaining on ensuring that every
vote counts and every vote is counted.

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