COVID-19 pandemic negative impact on Nigeria economy not harsh – Tinubu

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 By Gabriel Udeh, Kaduna 

A Chieftain and leader of the All Progressive Congress (APC) Asiwaju Bola Ahmed Tinubu has commended President Muhammadu Buhari for carefully steering the country through the pandemic and ensured that the negatives impact of the pandemic on Nigerians and economy has not been so harsh as expected.

He however stated that the economy’s relapse into recession has ended but Nigerians must admitted that the economy remains weak with too much unemployment and resources left idle.

Tinubu who made the remarks in a speech as Chairman of the 2021Sardauna annual memorial lectures held in Arewa house Kaduna, recalled that COVID-19 pandemic came admits local challenges with it’s debilitating impact on the global and domestic economies, including Nigeria.

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On the topics of the lectures: Reduction of the cost of Governance for inclusive growth and youth development in northern Nigeria in a post COVID-19 era”, Tinubu conceded, describing it as more than timely, given the spate of Security challenges now Primary causes of disrepair and frustration among Nigerians.

He said that frustration and despair were in the large part  caused by Chronic poverty and the breakdown in social institutions wrought by such long-standing suffering of old and young. 

He also said that cost governance is always a key factor in socio economic development of any Nation, it is however also one side of an important coin.

“We must not look at the vost alone. We must weigh the cost against the benefits derived therefrom”, he said.

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Tinubu also state that “For  example, one can pay a high cost on a productive enterprise but reap a higher benefit. Such would be considered good investment. “However, one can pay a low
cost but reap no benefit at all because the endeavour was inherently unproductive. 

“This would be a waste. Thus, we must be careful in what we say and truly mean when we talk of the costs of governance.
“The development of any populous nation has always been dependent on the ability of government to allocate sufficient funds to projects and programs that create and encourage enduring growth and employment.
“We must reject that mode of thinking that assumes government expenditure is inherently unproductive as well as harmful to the overall economy.

“It is not the fact that government expenditure is intrinsically wrong any more than one can say all private sector activity is economically”, he said.
 Also in a lecture presented by Governor of Plateau State and Chairman northern States Governors forum Mr Simon Lalong, the governor said it’s expedient to discuss reasons for rising cost of governance in Nigeria particularly northern Nigeria 

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He said some of the underlying factors of the cost of governance in Nigeria include insecurity, insurgency, huge bills and wages, corruption, government support for political parties and huge overhead and personnel cost  among others.

Governor Lalong who is also a guest lecturer went through the history of Nigeria system of governance since independence and it’s implication on the cost of governance.

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