Atiku-Okowa Presidential Ticket: Cure To Nigeria’s Moribund Economy – Eacgov Oghenesivbe

Togo – Executive Assistant to Delta State governor on Communications, Dr Fred Latimore Oghemesivbe, has said that the transformational Atiku-Okowa 2023 presidential ticket of the Peoples Democratic Party, PDP, is the only cure to Nigeria’s ailing and moribund economy occasioned by the misrule of the All Progressives Congress, APC, under President Mohmmadu Buhari.

Okowa’s Eac gave the assurance in Lome, Republic of Togo on Friday 22nd July, while delivering a paper on: The Impact of Strategic Management on Growth of SMEs in Developing Africa Countries” at the pre-convocation Dinner Lecture of the Liberal Bilingual University of Togo, at the instance of the Chartered Institute of Information and Strategic Management, CISM.

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He posited that Nigeria economy was strong and vibrant in 2015 before former President Goodluck Jonathan handed over power to President Mohammadu Buhari of the All Progressives Congress, APC, pointing out that the misrule of APC national government is obviously responsible for the nation’s huge debt, high rate of unemployment, double digit inflation rates, decline in quality of education occasioned by mismanagement of the education sector, the moribund economy, acute corruption, religious and tribal bigotry, poverty and increasing rate of insecurity

Oghenesivbe who was elevated to the highest membership status of Distinguished Fellow of the Chartered Institute of Information and Strategy Management, Dfcism, at the epoch academic event held at the prestigious Sarakawa Five Star Hotel in Lome, disclosed that the poorly crafted and abysmal implementation of policies by the inexperienced President Buhari economic team led to the incredibly low productivity and insolvency of over 75% of SMEs in Nigeria, in the past seven years and counting.

He further asserted that a bright light is foreseeable at the end of the tunnel as the dark years of Buhari administration gradually winds up, pointing out that the incoming national government of the PDP, and President in waiting, Alhaji Atiku Abubakar’s economic recovering and growth plan encapsulated in a well articulated manifesto titled: “My Covenant With Nigerians,” shall restore the nation’s relevance and enviable position in the global state as the giant of Africa, in all ramifications.

He said for Small and Medium Scale Enterprises, SMEs, in developing African Countries to experience substantial growth in production and profitability, the board of directors and senior managers must clearly state and document the vision and mission statements of their organisation; define multifaceted official responsibilities and allocate them, source and allocate adequate financial resources while implementation must be all inclusive from top to bottom.

“Empirical evidence revealed that 97% of businesses in Nigeria are SMEs, 65% in Europe and 99.7% in the United States of America. It follows that SMEs leading roles in economic growth and development cannot be overemphasized. They are the Mainstays of any economy, and no nation survives without SMEs, sustainable job and wealth creation plans.

“A survey on SMEs by KPMG and Nation Media Group in 2018, revealed that those SMEs that adopted strategic management practices grew remarkably. Board of Directors and managers of SMEs must continue to plan and execute results oriented strategies in the production, branding, advertising, sales promotions and marketing of products, goods and services.

“All levels of Strategic planning must be well document and implementable in outlook. Strategic management practices requires deployment of efficient systems to counter unpredictable and unforeseeable challenges, sustain operations and minimize the risks involved. The adoption of superior strategies leads to improved corporate performance and increases turnover and profits for owners of the business and/or investors.

“The board of Directors and Senior managers of SMEs are obviously the brains behind the organisation as identified by the Principles of “Piercing the Vail,” in corporate Law practice, which is why these categories of the workforce maybe prosecuted, and if found guilty are jailed for the actions and inactions leading to the failures and/or insolvent negative status of their companies, not withstanding the fact that the company may or may not have the status of a legal personality.

“SMEs in Nigeria are classified. Firms which employ less than 5 full time workers are referred to as Micro Enterprises. Those employing between 5 and 49 workers are referred to as Small Scale Enterprises while those with 50-99 full time employees are Medium Enterprises. SMEs shall continue to play important roles in employment and wealth creation, income distribution, accumulation of technological capabilities and spreads available resources.

“It is important for the board and strategy managers at all levels to develop different strategies to include scope of implementation, well defined and articulated for the attainment of the company’s goals and objectives in line with the vision and mission statements, which must be communicated to all level of the workforce, from top to bottom. The implementations must be all inclusive from the front desk officer to the Chairman of Board.

“The various strategies to be adopted must specify short and long term objectives; where the organisation wants to be, how the goals will be achieved, a forecast of the end results of planned activities, sources of funds for production, profit objectives, marketing objectives, production objectives, advertising objectives, sales promotion objectives and Corporate Social Responsibility objectives, CSR.

“Periodic or quarterly analysis of the Strengths, Weaknesses, Opportunities and Threats (SWOT) of the organisation helps the board and senior managers to develop new strategies. It also help to see how the company stands out in the marketplace with other competitors and to possibly review growth, short and long term objectives.

“Efficient quarterly or yearly SWOT analysis enables management to focus on strengths and build new opportunities that helps to outsmart competitors. Above all, prudent management of resources, training and retraining of managers, and a motivated productive workforce triggers attainment of targets, goals and accelerated profits for shareholders or investors.

“Nigeria and other countries in Africa must continually emphasize need for the adoption of strategic management practices for SMEs through regulatory agencies, eradicate or reduce corruption to the barest minimum and be able to save or secure reasonable financial resources to assist the growth and production capacities of SMEs, being an integral part of economic development, accounting for a larger percentage of employment and wealth creation.

“Nigeria economy under PDP administrations grew remarkably. President Olusegun Obasanjo, worked so hard to reduce debt burden, liquidated the Paris Debt profile and substantially grew Nigeria’s economy, created jobs, reduced poverty, sustained social harmony while world renowned economist, Dr Okonjo-Iweala, doubled as Finance Minister and Chief Coordinator of the nation’s economy.

“The APC national government inherited a buoyant economy from PDP national government under former President Goodluck Jonathan. At the time, Nigeria was rated one of the fastest growing economies in the world, but that rating crashed radically as Nigeria consistently degenerated economically and subsequently became one of the poorest and heavily indebted nations of the world in the past seven years, due to the misrule and failed economic policies and programmes of APC national government under President Buhari.

“As I speak, there is a bright light at the end of the tunnel for Nigeria. PDP presidential candidate, Alhaji Atiku Abubakar and his vice and governor of Delta State, Senator Dr Ifeanyi Arthur Okowa, are coming onboard on May 29, 2023, to rescue the nation from the misrule of APC under Buhari. They promise to restructure the country, launch a result oriented economic recovering and growth plan that would restore the country’s status as giant of Africa in the global stage.

“As an Executive Communications aide to the governor of Delta State and Vice Presidential candidate of PDP, I have been privileged to be part of a robust and well managed economy in the state, wherein human capital development, quality healthcare, qualitative education, huge infrastructure development, inestimable job and wealth creation, peace building and security, among others, were given prime attention, well funded which positively and ultimately fast tracked the rapid socioeconomic development of all sectors of the state economy in the past seven years and counting.

“PDP Vice Presidential candidate, Senator Okowa, shall bring to bear his wealth of experience as an astute politician and seasoned technocrat. His leadership prowess, moral uprightness, competence, patriotism and detribalised qualities were reechoed by Atiku Abubakar while unveiling Okowa as his running mate.

“This is obviously the beginning of a new era for Nigeria, a new dawn for unity and peaceful coexistence among citizens irrespective of tribe, religion and political affiliation. It is indeed another positive hope for economic recovery and growth.

Okowa shall always cross fertilize positive socioeconomic ideas with the President in-waiting, Atiku Abubakar, to reposition Nigeria’s collapsed economy, firmly position her on the paths of recovery and consistent growth from 2023 to 2031, respectively,” Oghenesivbe assured.