#SilentCrossFire: part 2.
CONTINUING THE ADULT CONVERSATION.
Every Govt of every country have policy statements. This clearly enunciates in clear and unambiguous terms the main thrust of the Govt for the duration of their tenure. It includes the economic, foreign relation, infrastructural developmental, agricultural, human developmental policies and more. The more detailed the better.
Often times this is guided by the parent party’s manifesto. And this becomes the expectations of both the citizens and foreign investors. This is why there are usually a flurry of activities in terms alignments and realignments immediately a new govt is instituted in a country.
This statement is better made soon after the inauguration of the said Govt.
Another very important aspect of these policy statements is not only in the actualization and the attempts at the actualization of items in the policies but CONSISTENCY. Consistency means that it is a very highly CONSIDERED document and the govt do not intend to change or make amendments to those items until their tenure expires.
Just like businesses, Govts depend, work and survive on projections. And I am talking about long term projections. And the foreign investors watch out for this CONSISTENCE. The reason it was difficult for us to attract much investors during our military days. For everybody knows that policies can change by a decree. A decree that can come up in the morning the day after you institute your plans or make your investment.
Policy documents take into cognizance risks. Risks for the Govt and for the citizens. And Govts try to shore up and mitigate these, all to the ultimate advantage of the citizens. Policy documents that create abundance of hardship and suffering to the people is not considered people oriented.
Details of these documents are usually sought after by foreign Govts and their investors as there are usually loopholes manipulable for the ultimate gain of their own citizens and business men. The reason a lot of details, considerations (short, medium and long term) go into the production of such documents.
Govts don’t run on knee jerks and the whims and caprices of a few officials nor an ultimate emperor, in order to forestall jaundiced views manifesting in governance.
1. The current Govt lacks any of these enumeration. There is no identifiable policy statement in any sector of our lives.
2. The few knee jerk attempts at policies have been largely inconsistent and appear not well thought out or at least ill thought out.
The CBN comes to mind readily here.
“Do not deposit dollars nor withdraw it in or out of any account!” Then few months later…”you can now deposit but not withdraw!”
“We shall sell only $10000 to BDC!” Then few weeks later….”We shall henceforth not sell anything to them!”
- Too little too soon. The BDCs have come to be a major player in our forex market. Leaving them to sort themselves out will introduce a bullish effect in the markets and further strengthen their power in the parallel market. We have left them for too long unregulated just like the independent petroleum marketers. Now this is no way to mitigate their influence. Believe me!
- Poor signal to the foreign direct investors. What are they going to believe?
If our businesses survive without projections, we can’t expect theirs to tow same line. They are not like us. It scares them and push them to neighbouring countries where there are some sort of STABILITY in govt policies.
3. Further excrutiating effect on the citizens too. From so many divergent approaches I may have to go into in another missive.