DEMOCRACY AND GLOBAL ECONOMY: PMB At The United Nations General Assembly, Nigeria And Africa's Perspective

BY ABBATI BAKO

Political democracy is all about economic, political and social benefit, prosperity, peace, unity, tranquility and stability in any nation in the world.  Democracy creates competition among people as well as among nations of the world.

The world capital transaction is amounting to around $90trillion or 60 Trillion Pound; and about 90% of the amount has been accounted to by trade and services (a matter of selling and buying) that is commercial activities.

And oil is the wheel or prime mover of the world economy. But still, not only Nigeria even the whole African nations contributes or account to less than 2% of the world economy. The simple question one may ask i why? But the answer is not simple to say. And again, why Africa is marginalized?

What were the negative contributing factors? Are there solutions in sight? Could and should democracy be rooted without sound economic condition? See what is happening (yesterday, today and what will happen tomorrow?)

The example of constant fracas at the Nigerian National Assembly and the state assemblies nation wide. Kano, Kaduna, Bauchi and many States political saga and IPOB’s political shame/HARAKIRI the issue of economy and the lack of internal democracy within our political parties are all a minus as far as our democracy is concern.

The deepening crises in the ruling party (APC) due to leadership deficiency and analog style of leadership need to take corrective measures.

We shouldn’t forget that, Nigeria is among;-

10- Top most populous nations in the world

10- Top most oil producing nations in the world

10- Top most populous Muslims in the world

No1 black nation in the world
10- Top most resourceful nations on earth.
Paul Collier says-: “In one sense this is hopeful: it tells us that economic development is the peace promotion”.

Example, experts asserts that democracy never fights one another. e.g., EU (28 Democratic nations), G20, G8, the Brazil, china, India, Turkey, Saudi Arabia, Iran, Indonesia, Malaysia and even S? Africa and many emerging economy.

World global leadership; Pre-1511 were Rome, Persia and Islam. It’s in the last 500 years boundaries were created by Britain. Then global leadership went into the hands of; Portugal, Spain, Holland, France and England and now USA; unless you have economic power by using democracy that you can lead the world.

Economic power, military capability and political power are the yardstick of global leadership: rapid economic growth, industrial production, scientific and technological advancement: import and export of raw material/resources.

e.g., the world measures of economy with gold: U.S with the lion share of 17%,or 24% of GDP.

The China with 5.7% Japan with 4.3% and Saudi Arabia with 3.5%.

e.g., in 2002 projections-: Prof. Daniel Drezner says; In capital market size in billions, U.S.A, E.U, China, India and Japan.

U.S.A= $54,488 billion
E.U= $51,546 billion
Japan=$ 21,628 billion
Russia= $800 billion
China= $5,000 billion
India= $5,000 billion

The world‘s total capital is around 60 Trillion Pounds. Experts’ says that China may not be the world’s economic power house because of so many reasons. This may be due to geographical location, social problems due to population crises and so on.

DEMOCRACY IN AFRICAN NATIONS

Paul Collier of Oxford University London says that in a viable democratic practice “The threshold is around $2,700 per capital per year, or around $7 person per day. The societies of the bottom billion are all below it”. Most democratic societies succeeded as a result of good, viable and vibrant economy.
   
The level of income at which has no net effect on violence, $2700.00 e.g., China has now passed the income threshold per-capita income has soared past $3,000.00 the freedom in the world’s 2007 survey contains reports on 193 countries and 15 related and disputed territories. 

In human development index survey conducted by the United Nations in 2007/2008, Nigeria was rated as number 158 in terms of (but at 2012 index we have move to the level of 145)
Human Development Index value- 0.470
Life expectancy at birth- 46.5 years
Adult literacy rate- 69.1%
Combined gross enrolment ratio for primary, secondary and tertiary- 56.2%
GPD per capita- $1,128
Life expectancy- 0.359
Education- 0.648
GPD- 0.404
GPD per capita (PPD US$) rank minus HDI rank- $4
Comparison with other countries, e.g., Niger:
Human Development Index value- 0.374
Life expectancy- 55.8%
Adult literacy rate-28.7
Combined gross enrolment ratio for primary, secondary and tertiary- 22.7%
GPD per capita- $781
Life expectancy- 0.513
Education- 0.267
GPD- 0.343
GPD per capita (PPD US$) rank minus HDI rank- $1

In May 2005, NEPA was converted from NEPA to PHCN, to oversee the privatization of electrical power supply in the first quarter of 2005 less than 2000MW was generated, even though the government had spent N68 billion of capital in the sector (then).

In Kano State, over 800 factories were closed down of which they can employ the services of about one million people.

The alternative only is generator plants. Nigeria has become the world’s leading nation for buying generators.

This made it impossible for our companies to compete in the world market.

73% are not connected with national guide. They promised that by 2007, projected 10,000MW can be generated.
The argument /debate should be purely social services or profit making organization?

During the Obasanjo regime, the sums of $16billion were spent to normalize the functions of PHCN.

E.g. some countries benefit from electricity energy (possibly) as a social benefit or in a subsidize rate. Countries such as Brazil had about 114,000 mw; South Africa had more than 40,000 mw, in Jeddah, Saudi Arabia they generate about 6,000 mw more (than what we generate in Nigeria). Also, Egypt generates about 60,000 mw; amazingly Ghana never had blackout in the last 1&1/2 decades. What our leaders are doing? Where are our policy makers? What will be the solutions to these problems?

Abbati Bako (Political Strategist)