"Other than ignorance about how development works, the other reason is that Nigeria's current elite structure and political leadership cannot imagine an equilibrium that is different from the status quo. They cannot imagine a possible future for the country that is any different from what it is currently. This is why we keep reforming but never truly transform."
Thank you for this excellent, though- provoking and insightful piece. The quote below is the dual connundrum of the Nigeria problem 👇
" Taking reforms beyond short-term stabilisation towards structural transformation requires a new kind of political leadership and elite bargain than we currently have. For Nigeria to move from an economy of recurring crises to a solid path to development, nothing short of political and social transformation will suffice."
Thank you for this, as always, Mr. Lawson. Your pieces are always thoughtful and refreshing.
I quite agree with your first central point: that there is a general ignorance about what economic development is, which leads to incompetence deciphering what policies are a good fit. It might even be due to the fact that most Nigerian spokespersons aren't economists and don't bother understanding even simple concepts (as much as one may want to revile Dr. Tope Fasua, he is often candid and concedes points).
However and respectfully, I slightly disagree with your second point: that Nigeria's current elite structure and political leadership cannot imagine an equilibrium that is different from the status quo. I think they can imagine (in so far as they possess the cognitive and mental skills to imagine an alternate reality, other than the one we live in-though, to be fair, not every mentally mature adult can do this due to differences in mental make up) but they have no good reason to translate those alternate realities to action.
For example, I can be an inveterate shoplifter and would probably be able to mentally imagine or perceive of a life where I'm not shoplifting and behaving better. However, due to my laziness and 'success' with not having been caught, I have no incentive to do anything about it. This is where it becomes a political economy question and one has to think in terms of incentives to act, credible commitments by other elites (that could serve as exemplars to non-performing elite in the form of elite peer pressure) and pressure from broad Civil Society coalitions (which consist of persons, groups and entities that can exert meaningful pressure on politicians in power).
Again, I don't think your second point is incorrect but is rather depicting a manifestation of an intersection of institutional dimensions and features as the problem. Thanks again.
These politicians only see reforms as another project. Another scheme to enrich themselves. No subsidy and increased tax revenue with nothing to show for.
"Other than ignorance about how development works, the other reason is that Nigeria's current elite structure and political leadership cannot imagine an equilibrium that is different from the status quo. They cannot imagine a possible future for the country that is any different from what it is currently. This is why we keep reforming but never truly transform."
Nothing left to be said.
Thank you for this excellent, though- provoking and insightful piece. The quote below is the dual connundrum of the Nigeria problem 👇
" Taking reforms beyond short-term stabilisation towards structural transformation requires a new kind of political leadership and elite bargain than we currently have. For Nigeria to move from an economy of recurring crises to a solid path to development, nothing short of political and social transformation will suffice."
End of !!!
Thank you for this, as always, Mr. Lawson. Your pieces are always thoughtful and refreshing.
I quite agree with your first central point: that there is a general ignorance about what economic development is, which leads to incompetence deciphering what policies are a good fit. It might even be due to the fact that most Nigerian spokespersons aren't economists and don't bother understanding even simple concepts (as much as one may want to revile Dr. Tope Fasua, he is often candid and concedes points).
However and respectfully, I slightly disagree with your second point: that Nigeria's current elite structure and political leadership cannot imagine an equilibrium that is different from the status quo. I think they can imagine (in so far as they possess the cognitive and mental skills to imagine an alternate reality, other than the one we live in-though, to be fair, not every mentally mature adult can do this due to differences in mental make up) but they have no good reason to translate those alternate realities to action.
For example, I can be an inveterate shoplifter and would probably be able to mentally imagine or perceive of a life where I'm not shoplifting and behaving better. However, due to my laziness and 'success' with not having been caught, I have no incentive to do anything about it. This is where it becomes a political economy question and one has to think in terms of incentives to act, credible commitments by other elites (that could serve as exemplars to non-performing elite in the form of elite peer pressure) and pressure from broad Civil Society coalitions (which consist of persons, groups and entities that can exert meaningful pressure on politicians in power).
Again, I don't think your second point is incorrect but is rather depicting a manifestation of an intersection of institutional dimensions and features as the problem. Thanks again.
Truly excellent piece!!
This is a very insightful one. No lies.
These politicians only see reforms as another project. Another scheme to enrich themselves. No subsidy and increased tax revenue with nothing to show for.