By Dele Sobowale

“In the days leading up to the inauguration, I read several books…” — Barack Obama, former US President in his book ‘A Promised Land’, p239

My gratitude goes to my dear Uncle Apollo of Sapele and Lagos, who graciously gave me a copy of  the book.

There is a lot to learn from it by Presidential candidates, Presidents-elect and serving  Presidents. The 706-page long is the sort of gift to give only to incurable bookworms and untiring researchers. Few ordinary readers will have the patience to start and finish it.

Incredibly, the line which struck me most forcefully in the entire book is the one above. It has a great bearing on the announcement of the appointment of Dr. Doyin Salami as Buhari’s Chief Economic Adviser, CEA.

Two days after Obama was declared winner of the US Presidential election, he assembled his campaign team. The first assignment he gave was to brainstorm and come up with names of candidates for the Treasury Secretary (Minister of Finance in Nigeria) as well as members of the  National Economic Council, NEC.

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The head of the NEC would have an office in the White House, very close to the Oval Office. Larry  Summers was hired “to help figure out what the hell (Obama’s words, not mine) to do (and not do) p213.”  Incidentally, US President Clinton, British Prime Minister Boris Johnson, Indian Prime Minister, Modi, all selected their Economic Management Teams, EMT, immediately they were declared winners.

That has been the global standard for governance since the 1960s. It obviously is not known yet in Nigeria under Buhari.

Despite having global experts as Treasury Secretary and NEC members, the President-elect still read several books about the Great Depression of the 1930s and how a newly-elected President, Franklin D. Roosevelt managed his country out of an existing depression. Obama was coming into office at a time when the USA was predictably heading for a recession.

I invite anyone who wants to dispute what follows to go and read the Obama book first. Then, he will understand why Nigeria is in the present economic quagmire after almost  seven years  of Buhari.

Obama did not once (let alone repeat the excuse) that he inherited an economy in recession from Bush. Instead, he accepted the fact that he was elected to solve the problems confronting the nation – not cry over them like a baby every time he addressed  the nation.

Comparison with Nigeria’s president-elect, 2015 

“There are two types of failures: those who thought and never did; and those who did and never thought.” — John Charles Salak, Vanguard Book of Quotations, VBQ, P.54 

Even the most self-blinded of Buhari’s staff, even Lai Mohammed, would find it difficult to dispute that the  man  who appointed him Minister of Information did not read books preparatory to taking office. Furthermore,  he did not assemble any EMT to help formulate economic policies and programmes in the months between election and inauguration. 

Obama’s inaugural address laid out his economic policies and programmes as they were formulated by economic and financial experts and presented to him for approval.

By contrast, Buhari failed to appoint a Minister of Finance for five months; even then, it was an accountant without global experience in managing recessions. Meanwhile, the EMT was headed by the Vice President Yemi Osinbajo — indisputably a brilliant lawyer. But, certainly, he must be honest with himself that he was cast in the wrong role.

The Obama economic team  put together an economic rescue plan and sent it to the US Congress (National Assembly)  before  he was sworn-in. It was a huge stimulus package designed to promote aggregate consumption, create jobs and help the vulnerable in the society.

Nigeria’s  EMT, a bunch of enthusiastic but incompetent amateurs, had no single person on the team who had read books on managing different types of recessions. Unlike the Obama team, they  were stuck. The President-elect did not realise that without a cabinet, he could not get the NASS to sign a stimulus bill which committed several ministries to performance on many fronts.

So, they sent a Supplementary Appropriation Bill (meaning give us money to spend, but don’t expect anything in return) – which was a colossal waste. 

Consequently, while the Obama request was properly targeted and could  be monitored for effectiveness, the Nigerian EMT’s efforts amounted to doing without thinking properly and professionally. Failure was guaranteed.

Procrastination and consequences 

“Procrastination is the grave in which opportunity is buried.” —  Brewer Stock, VBQ p 202

The Federal Government, in any big country like Nigeria, employs hundreds of thousands of people. But, in terms of real impact, the set up follows the Pareto Principle: the vital few and the trivial multitude.

It might shock many Nigerians to know that Nigeria’s vital few cannot be more than ten thousand; while the really critical might be less than two thousand. Every newly-elected president moves very quickly to appoint the vital few. The rest can wait. 

It was not just the EMT which Obama assembled before inauguration day; he had within a month identified over one thousand key positions to be filled; and he had at least one person for each role, sometimes two. He came in with virtually all the important offices filled or about to be filled.

By contrast, Buhari disdainfully failed to nominate his ministers for five months; spoke disparagingly about them (they are only there to make noise) and then proceeded to appoint noise makers.

Astonishingly, the NASS sat back and watched unconcerned as the President of Nigeria demonstrated to the whole world that he has failed woefully to discharge his first duty. No US President-elect would last a month on the seat if he failed to send a list to Congress by then.

One of Buhari’s Special Advisers, a former President of the League of Editors, actually told Nigerians that the President was taking his time to avoid making mistakes. The poor fellow did not realise that his boss has already committed a blunder for which Nigerians will pay dearly.

At any rate, anybody who took five months to appoint Lai Mohammed has revealed more about himself than he realises. But, then this is a “sh*t hole” country as Trump honestly called us.

Doyin Salami’s last hour appointment 

I have gone to great lengths to arrive at the main point of writing this article just to explain why the appointment is too late to have any significant impact.

With only seventeen months left for this administration; and its last full year budget already signed and being implemented, it would appear as if Salami is being set up as the person to be caught holding the bag as the FG faces some tough decisions this year.

The government is already impaled on the horns of a dilemma regarding fuel subsidy. Remove and face trouble; don’t remove and face fiscal ruin. All the people in government who got us here want to hide their heads when the missiles (verbal and perhaps physical) start flying.

Doyin Salami apparently is the guy chosen to be sacrificed for their economic atrocities. I pity him; and as much as possible, I will leave him alone. Attacking this decent and patriotic man crucified for the sins of others will add insult to injury. I wish him luck.

Last line 

Has the  Economic Advisory Council, EAC,  now been quietly  disbanded? Soludo is already out of it; unless he wants to waste his time.

So, what is the fate of all those brilliant minds assembled a few months ago? It was a load of hogwash anyway.

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