Now that President Tinubu has been successfully nominated as the APC candidate, can he please do something drastic to announce that Nigeria is open for business

Ayo Akinfe

[1] Somehow, there was a presidential primary election in the APC, that actually involved a candidate standing. This candidate got zero votes but hey, it was still officially an election. Now that President Tinubu has been returned, can he please start work on economic planning

[2] Whether anyone likes it or not, Nigeria has to start manufacturing. This will reduce our dependency on imports, create local jobs and enable us to compete with the rest of the world. Africa as a continent accounts for 18% of the world’s population but just about 3% of global trade and 1% of manufacturing . One does not need to be an economist to know that such an imbalance is not sustainable

[3] I take the view that what we need is a major event to announce to the whole world that it will no longer be business as usual. I cannot think of any better platform than the World Black Arts Festival also known as Festac. Is there anything preventing President Tinubu from announcing that Nigeria will host another Festac ceremony in 2030?

[4] If you look at most of the world’s vibrant economies today, it took some major event or a Big Bang to get them going. It provided them with the proverbial kick up the backside, forcing them to step up production, accelerate manufacturing and pledge never to leave themselves vulnerable again

[5] For instance, the US quadrupled industrial output after the bombing of Pearl Harbour in 1941. They went from being an agrarian economy to becoming the world’s biggest manufacturer of ships, automobiles, armaments, etc within three years

[6] China too has never been the same since Tiananmen Square. Faced the reality of massive social inrest and an inevitable revolution, the country decided to get its act together

[7] When I look at Vietnam too and the way they have turned their economy around since the US aggression and invasion in the 1960s, I just marvel at how a nation can get going once the will is there. Do you know that today, Samsung produces about 40% of its phones in Vietnam?

[8] Japan is another unprecedented wonder. After the bombing of Hiroshima and Nagasaki, it is like they pledged never to get left behind again. Just look at the technological advances Japan has made since, especially in the area of automobiles. No European car company would believe in 1945 that the likes of Toyota and Nissan would out-perform it on the international market but alas, that is the reality of today

[9] Nigeria, as the world’s largest black nation simply has to step up to the plate and take the initiative here. Hosting another Festac with the rest of the world in attendance is more than imperative, it is compulsory. Festac 2030 should have an investment summit attached to it, with a clear vision. Several key demands should include that at least 15% of all global investment must come to Africa, that there should be a ban on the export of raw primary African commodities and any nation that imports goods in excess of $5m from an African nation must be compelled by international law to open up a manufacturing facility there

[10] Alternately, how about President Tinubu hires a cruise liner and renames it Invest in Nigeria. He can then sail around the world in it wooing investors, holding meetings aboard the ship and docking at key financial centres for roadshows

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