GOOD LUCK JONATHAN’S TRANSFORMATION AGENDA AND ECONOMIC RESTRUCTURING

GOOD LUCK JONATHAN’S TRANSFORMATION AGENDA AND ECONOMIC RESTRUCTURING

ABSTRACT

Nigeria had embarked on different policies and programs for her development since independence. This paper examines President Goodluck Ebele Jonathan Transformation Agenda on economic restructuring and development in Nigeria and how it will project the economy into one of the twentieth developed nation by 2020. The study adopted descriptive statistics and chi square analysis using primary sources of data from licket scale questionnaire. The study findings reveals that the transformation agenda has significantly improved the . It found that the Agenda had impacted positively on each sector of the economic restructuring in Nigeria. The study further found that the challenges that are hindering the successful achievement of the Transformation Agenda‟s objectives include but not limited to corruption, poor governance, inconsistency in policy formulation and implementation. The study recommends that with good leadership and genuine commitment to the goals, the target could be attained as Nigeria is blessed with ample natural and human resources. The study recommends the need to take bold steps towards exploiting the maximum benefits, opportunities and strengths of the Transformation Agenda and alongside reducing the challenges facing it through good governance.

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study:

Nigeria‟s president won the 2011 federal government election on the ground well of popular support, and the promise of a transformation agenda. There have been a number of visions and policies pursued by previous Heads of Governments of Nigeria, either under the Military or Civilian regimes in the recent past. Alhaji Shehu Shagari, who was elected as President of Nigeria in 1979 and ruled up to January, 1984 tagged his policy as the Green Revolution. This policy hoped to transform the agricultural sector and use the gains thereafter to revolutionize other key sectors of the economy. The short period of the leadership of General Muhammadu Buhari was spent in fighting corruption and instilling discipline in the polity. General Sani Abacha came into power in 1993 after the controversial annulment of the 1993 Presidential elections with another policy somersault. His policy package radically de-emphasized the influence of International institutions and centered mainly on the exploitation of domestic efforts towards transforming the economy. In 1999, Chief Olusegun Obasanjo was elected as the President and Commander -in-chief of the Nigerian Armed Forces. He took yet another radical departure from his predecessors. His first four years in office were focused mainly on consolidating democracy. Thereafter, he concentrated on reforms in Banking and Telecommunication Sectors. He also initiated the National Economic Empowerment and Development Strategies (NEEDS).

Another policy reversal was introduced by Alhaji Umaru Yar'adua following his election and inauguration in May, 2007 as the President and Commander-in-Chief of Nigeria Armed Forces. His policy package was tagged the 7-Point Agenda where he identified seven sectors of the economy as the engine room to the transformation of the entire economy. With his demise in 2009, Goodluck Ebele Jonathan, the then Vice President, took over as substantive President and maintained the reform agenda of his predecessor up until May 2011. Goodluck Ebele Jonathan took oath of office as the newly elected President and Commander-in-Chief of Nigeria Armed Forces on 29th of May, 2011 amidst thunderous expectations of a new dawn, given his humble background and the mountain of problems and decay that the country has found itself over the years. Realizing the high expectations, the President promised not to let the people down. ( On that historic day, Goodluck Ebele Jonathan promised Nigerians a policy package tagged the Transformation Agenda when he declared that Together we will unite over our nation and improve the living standard of all our people whether in the North or in the South; in the East or in the West. The President further pledged that his leadership will be decidedly transformative in all critical sectors and that his administration must grow the economy, create jobs and generate enduring happiness for all and sundry. In addition, the President declared on day that he has "great confidence in the ability of Nigerians to transform the country and that the urgent task of his administration is to provide a suitable environment for productive activities to flourish. He went on to appeal all good people of Nigerian to enlist as agents of the great Transformation Agenda. Transformation itself is a development strategy aimed at complete or radical change in the life of an individual, organization, community or even the nation at large. According to the Oxford Advanced Learners Dictionary, transformation is a complete change in somebody or something. Transformation in the life of a person connotes radical attitudinal change from bad to good or even vice versa. Transformation or reform, particularly in the health institution is a process that seeks changes in the health sector policies, financing and organization of services as well as in the role of government to reach national health objectives.

This include the need to expand and strengthen primary health care services throughout the country, eradicate or eliminate childhood and other preventable diseases through adequate routine immunization; strengthen all disease control efforts and health promotion activities into health care at primary care level, reduce environmental and occupational health related morbidity and mortality; protect the public from the harmful effects of fake drugs, unregistered medicines and processed foods etc. In the life of a nation, transformation involves structural changes in the major institutions of governance and the society at large. Thus, on the whole, transformation can be said to be a total package that involves every facet of the individual, organization or society. It is meant to be a vehicle for a better society where virtually everyone will be reasonably comfortable. The Transformation Agenda of President Goodluck Ebele Jonathan is yet another policy somasault in relation to the 7-Point Agenda of his immediate predecessor, late President Umaru Musa Yar'adua. It is a 5-year development plan, 2011-2015, which also coincides with the life time of his term in office. the President, upon assumption of office, assembled a vibrant team of renowned technocrats called the Economic Management Team to midwife and drive the process through to a successful end. The appointment of the Minister of Finance, a reputable Economist, clearly indicates the centrality of the economy as the driving force in the success of the Transformation Agenda. Thus, the Transformation Agenda of Goodluck Jonathan, from all intent and purposes, is largely in pursuance of collective national goals and aspirations towards driving Nigerian into the comity of the 20 largest economies by 2020.

As observed by Itah (2012), the transformation Agenda of Goodluck Jonathan is a policy package that proposes to reposition the economy by addressing issues of poverty, unemployment, insecurity and most particularly, the diversification of the entire economy from total dependence on oil to a significant reliance on non-oil driven economy. The Transformation agenda of President Goodluck Jonathan seeks to hopefully transform the Nigerian people into a catalyst for growth and national development. Under the transformation drive, government is expected to guide Nigerians to build an industrialized modern state that will launch the nation into the first 20 economies of the world by the year 2020. According to the president himself, in the presentation of the 2012 budget to the national assembly, he said: As we collectively resolve to create a brighter and enduring future for all Nigerians, a future of hope and prosperity not lack, fear or hatred, we must prepare to overcome any adversity that may arise. Accordingly, we must all be determined and committed to follow through the difficult but balance choices that we make in piloting the affairs of the great nation. (Jonathan Goodluck, 2011). The Honourable Minister and Deputy Chairman of the National Planning Commission, and also a member of the Economic Management Team provided details of the Transformation Agenda of President Goodluck Ebele Jonathan. According to the Minister, the Transformation Agenda is focused on three key areas. One, strong, inclusive, non- inflationary growth. This includes efforts on the part of government to encourage large-scale industries and Small and Medium Enterprises (SMES), revitalize ailing industries, promote agriculture and agro businesses, encourage local content strategy and develop Information Technology and Communication (ICT) to be the major driver of the agenda. Two, employment generation and poverty alleviation.

1.2 Statement of problem

One of the major problems/challenge to the successful delivery of the gains of the Transformation Agenda is the cancer worm called Economic corruption. Corruption is a social malaise that has permeated every facet of the life of Nigeria. In the words of Gyong, It cuts across religion, ethnic, class and geo-political boundaries. The point of difference could be the magnitude, type and manifestation---. There are many cases of highly placed Nigerians who 16

were entrusted with power and resources, but eventually diverted such to their personal gains (Gyong, 2011:). The above observation has earlier been made by Human Rights Watch as thus Nigeria political elites, almost without exception, have insatiable capacity to steal from the common wealth and live the people more impoverished. The Security and Exchange Commission (SEC) is equally involved in the web of corruption and even the Adhoc Committee of the House of Representatives to investigate the scandal is equally said to have soiled its hands. The case of Femi Otedola, a member of the President Goodluck Jonathan Economic Team and a respected leader of the House of Representatives Committee on the oil subsidy regime, Mr. Farouk Lawan are also alleged to be involved in Three Million Dollar scandal. Similarly, there is the pension scam involving about N273 billion. These cases of corruption are only the few known ones that are alleged to have been perpetrated of recent. Consequently, Jim Unah, a pubic commentator in the Sunday Mirror of June 17, 2012 observed that with every one accusing everyone else of mind-blowing official graft and complicity in corruption-from Auta to Farida Waziri, from Salami to Katsina-Alu, from Hembe to Oteh, from Otedola to Lawan, and from Tambuwal to Jonathan; The above illustrations clearly attest to the fact that the Transformation Agenda of President Goodluck Jonathan is most likely going to be confused by similar scandals of corruption. This is against the backdrop that corruption in Nigeria is endemic and has permeated every individual and sector. It has the tendency to increase leakages and wastages in government expenditure; poverty in both absolute and relative terms; insecurity of lives and property; Hindrance to both local and foreign investments and finally loss of faith and confidence in government operators, institutions and policies including the Transformation Agenda. Nigeria‟s economic performance in the two decades prior to economic reforms was generally poor. It is against this background this study seeks to empirically investigate the impact of Goodluck jonathan transformation agenda and economic restructuring on the economic development in Nigeria.

1.3 Objective of study.

The aim and objective of the study of the topic Nigeria‟s transformation agenda and economic restructuring is to point out the successes and failure of President GoodLuck Jonathan in Nigeria‟s economic development in the last 4 years. The specific objectives are:

To examine the impact of President GoodLuck Jonathan Agricultural revolution and food security agenda on economic development in Nigeria.

To Examine the influence of President GoodLuck Jonathan infrastructural development agenda on economic development in Nigeria.

To investigate how President GoodLuck Jonathan fight against Corruption and anticorruption policies in the oil sectors impacted on the economic development in Nigeria.

TOPIC: GOOD LUCK JONATHAN’S TRANSFORMATION AGENDA AND ECONOMIC RESTRUCTURING

Chapters: 1 - 5
Delivery: Email

Number of Pages: 90

Price: 3000 NGN

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