It is quite evident that Nigeria is going through an economic retrogressive dimension; the situation is becoming worse every passing day. It seems it has defied every economic logic and solution.

These economic woes sneaked into Nigeria polity through the military incursion into political landscape of this nation in 1996 till when they finally bowed in 1999. But before it had its final disengagement, it has left scares and carcasses of economic depression on the face of Nigeria. There is no way in which truth could be held back, it has to be told; past and present leaders are not so sensitive yet to the economic reality of this nation. Any leader or ruler who does not listen to divine and experts’ warning will surely suffer the consequences.

As a matter of fact, any country that is mainly relying on one source for her survival should be ready to face the consequences -the scenario that graphically and consciously describes Nigeria economic situation.

Obviously, before crude oil was discovered in commercial quantity in 1958, Nigeria was proud to have so many viable and formidable agricultural potential for domestic gain and by extension for export. However, immediately the crude oil was discovered, our means of survival before oil discovery was considerably and gradually neglected and worse still, the revenue from it was neither used judiciously nor used to create alternative source of income. Furthermore, when the road to oil revenue seems to be coming to a numerical end, Nigerian leaders are now running from pillar to post to make sure economic condition is stabilized, whereas all factors militating against the growth of our economy are not being addressed while lip services are being paid to some.

One of these factors, however, is conflicting government economic policies. Some of these policies are retroactive and counterproductive for our economic to thrive. The economic environment is retrograde for private sectors involvement in the retrofit of our economy.

In addition to the aforementioned is the damaging and deliberating effect of corruption. This aspect of our national psyche is assuming dangerous alarming rate. It seems a virus is becoming uncontrollable. It has permeated all strata of our national psyche and all it needs to be hurriedly checkmated. This hydra headed monster that has been eating deep into the national fabrics would need pragmatic and audacious steps from our various leaders completely put a stop to it; our Politicians are even pretenders and perfidious.

The question now is can our economy get lead way and leverages? Of course yes! Our leaders at all levels should be sincere about national issues and sincere with their people because people are dying of their policy inconsistency. The economic experts should come with long lasting policies propensity to economy.

First, that have the stabilize our the cost of governance should be reduced to the barest minimum. The business of law making and legislation should not be a money spinning venture. It should be on part-time basis because the cost of governance is taking larger part of our budgetary services.

Also, banking system should come out with flexible but stringent regulations that will  help our  teeming youth and job seekers back to the farm; the system should guarantee enhanced loan facilities with little or no interest. By the way of conclusion, our economic environment should be more relaxed for every genuine sector of our economy to thrive.

By Mr. Ajibade A. W.