By Ajibola Abayomi,
July 27, 2018.
Friedrich Ebert Stiftung (FES), an international advocacy foundation, has advocated overhauling of industrialization policies in the country.
The position was canversed on Friday in Lagos during the presentation of its report.
In 2016, the FES commissioned a study to broadly examine past and existing socio-economic and political policies affecting the state of industrialization in the nation.
The body is a private, non-profit organization committed to the values of social democracy and economic advancement.
FES, after series of engagements with various sectors within the period under review posited that there was need to over haul the industrialization policies in the nation.
In addition, the organization suggested that all the economic procedures should be subjected to critical planning for effective implemetation.
FES was founded in 1925 as Germany’s first political foundation and bears the name of the first democratically elected president of Germany, Friedrich Ebert Stiftung.
In the presentation made by Dr Omo Aregbeyen from Department of Economics, University of Ibadan, FES called for new approaches to economic policies and governance.
Commenting, the project manager of FES, Remi Ihejirika urged Nigerians to appraise the report with a view to correcting the anomalies in the economy.
According to her, the organization would always be willing to contribute to the socio cum economic advancement of the nation whenever the need arose.
Dr Aregbeyen noted that there was inconstistency in the nation’s policy formulation and implementation processes.
He said that was need to make government to imbibe the culture of continuity irrespective of the ruling political party or ideology.
He was quick to caution that: “Nigeria has been signatory to many treaties both the ones that were necessaries and otherwise, yet no serious attempt to domesticate or implement them.
“We are found of signing whatever treaty and buy into foreign bilateral accords without analyzing the future impact on our economy. This should stop and we must begin to patronize our people.”
He frowned at the consideration of foreign consultants that lacked the understating and dynamics of the Nigerian economy by the government instead of encouraging findings and imputs from various reaseches institutes in the country.
The don said Nigeria was operating pseudo federalism with overbearing powers of the federal government overshadowing the states.
“The states cannot do much because they have to resort to the federal on many of the developmental issues. That is not good enough. The government at the center is unduly large.
“There is nothing like continuity and this has to change because it is affecting our development. An example of where continuity has led to capacity bullding is Lagos State where over the years successive governments have modeled their inputs on foundation laid by their predecessors but at the federal level, the reverse is the case.
“What is happening very strange, for a programme to implement in Nigeria, it is funny that government keeps patronizing people from Malaysia and other countries, yet without any much meaningful result.”
For the nation to move forward, the FES report called for critical review of institutional frame work to make government economic policies for both short and long term planning have appreciable effect.
He called for total reordering of Nigeria’s economic strategies with a view to making the interest rate and other fiscal policies predicable for development.