We are running a democracy and system of governance we cannot afford. A system that is way too expensive for our income to cover. We need to start having the hard conversations to restructure this country along the lines of the governance we can afford otherwise, we will sink deeper into debt.
This is not an easy conversation to have because it means, we may need to craft a new constitution to devolve power from the center to regions or close some State governments and Parliaments. It means some people in government agencies may have to lose their jobs so we can cut overheads.
Without going into too many details, according to @BudgITng, non-debt recurrent expenditure for Half Year 2020 was 32% higher than Half-Year Revenue. When you add debt servicing, total recurrent expenditure spikes to 126% above revenue. If we consider that non-debt recurrent expenditure is mainly to fund the Federal Public service which represents less than 1% of our population, then you get the idea why this must change.
The case is not better in the States as well. We are in a debt death-spin that is likely to consume everything in sight if we don’t act fast. What is needed is courage. Courage to confront these difficult issues. Nigerians must be educated on the complexities of the issues. They must ask hard questions and demand answers. Political Parties looking to inherit this quagmire must be elected on their stand on restructuring.
If we cannot afford this American-style democracy, then we must have the courage to say so. We must have the courage to craft the kind of democracy that works for us, especially one we can afford.
“The most courageous act is still to think for yourself. Aloud.” ― Coco Chanel