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Tragedy of
a Flying President
Without knowing
it, we may perhaps have elected two years ago to cast lot for a
man with a predilection for the comfort of the presidential jet.
More than any other before him, President Olusegun Obasanjo seem
to relish it and prefer to preside over our affairs from a transcedental
height next to God. Little wonder he could hardly understand the
hues about committing close to N100billion to buy a new jet for
the chief tenant of Aso Rock in a largely pauperised country where
the minimum monthly wage is $66. Nor would he shudder about his
now infamous and nauseating junketing, which has transformed his
face to the only regular feature on the streets of most capitals
in the world.
One is worried
that the president is perpetually sitting on torns, which compels
him to always move on. In a spate of one week, Obasanjo hopped from
Washington to Brussels and then to Tokyo all in search of the elusive
foreign investment and to press on his campaign for outright debt
cancellation. When I saw the way Mr president shoved aside the parting
off parade and hurriedly boarded the presidential jet in the evening
of last Monday at the Port Harcourt Airport, I knew his mission
was beyond Aso Rock. Not long after savouring ‘Democracy Day’, he
was cruising at an altitude of over 30,000 feet above sea level.
Many can hardly
remember two weeks without the president being on the move. I’m
moved to sympathise with this jolly goodwill ambassador of the world.
If anything however, the recent altercation between the president
and Callisto Madavo, vice president of the World Bank in charge
of the African Region at an international forum on debt strategy
in Abuja indicate clearly that the regime has lost focus on the
mechanics of its campaign. Engaging the World Bank chief in mathematical
gymnastics over the actual figure of the nation’s debt profile is
bad enough particularly when the regime lacks the moral and political
bravado to forge ahead with this tough talk. Haven bought the argument
of the international finance agencies to move our economy along
their path and image, it is wishful thinking to begin now to make
a break. What happened to the over rehearsed homily about no alternative
to privatisation, deregulation and the idea of subjecting the Naira
to the dictates of supply and demand? Like Nero, Obasanjo is enjoying
his flight while his country is in shreds.
On Democracy
Day, Obasanjo and his information minister, Jerry Gana were upbeat
about tales of development up country. I’m inclined to believe them
but the economic indicators are frightening. With an exchange rate
running at a geometric speed, we need prayers to avert a downward
slide to N200 per dollar by December. I’m hard pressed counting
my fingers how many businesses you can do with bank loans guzzling
35 per cent interest rate. Only those who earn dollars will be able
to buy garri which now sells for N1000 per tin.
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