Now that Tinubu has held his first meeting with international investors he needs to go back and launch Vision 2030 to force the pace of development

Ayo Akinfe

[1] Originally launched by the regime of General Sani Abacha, Vision 2020 was a great concept. It sought to make Nigeria one of the 20 largest economies in the world, able to consolidate its leadership role in Africa and establish itself as a significant player in the global economic and political arena

[2] Let us take stock of where we are today. According to the World Bank, we are the world’s 28th largest economy with a gross domestic product (GDP) that varies between $375bn and $450bn depending on global oil prices

[3] We actually achieved number 22 on the global economic chart during the Jonathan era when oil prices hit $140 a barrel and we were producing 2.7m barrels a day but have since slid down the table

[4] Nigeria is the world’s sixth largest agricultural producer

[5] Literacy rates stand at around 60% compared with say 5% post-independence

[6] We have about 155 universities compared with just the one at independence, my alma mata, the great UI

[7] We are now the world’s number one producer of cashews, egusi, yam, cassava, sheanuts, kolanuts, cocoyam and bitter leaf

[8] We failed to realise Vision 2020 because we simply did not diversify our economy. We remain a mono-economy dependent on crude oil and add very little value to the primary products we export

[9] President Tinubu needs to come up with a new document. His Vision 2030 programme simply has to make value-addition, manufacturing, diversification and exports its key components. We do not produce enough, we consume what we do not produce and end up having to borrow to meet our needs

[10] My question is are Nigerians ready for the harsh medicine that will make Vision 2030 a reality? It will mean banning the import of luxury items to force local production, imposing production quotas on industries, prosecuting traditional rulers if kids in their domains do not go to school, taxing faith houses, reducing owambes and putting that energy to productive use, maybe getting alumni associations to take over some aspects of education, giving Gucci an ultimatum to open a factory in Nigeria or be declared an enemy of the people, giving our elite and bourgeoisie investment quotas as Julius Caesar did in Ancient Rome and forcing states governors to meet export targets or they face statutory impeachment. Are we ready for this?