THE 7-POINT AGENDA AND THE ROLE OF WEALTH CREATION AT THE GRASSROOTS

It will be stating the obvious to say that the 7-point agenda of President Umaru Yar’adua’s administration is a laudable programme that is capable of transforming the lives of Nigerians for the better. It is a policy that can turn around the fortunes of the nation and drive its economy to be among the 20 most robust economies of the world by 2020 if well implemented. The agenda seeks drastic revolution in critical areas of power and energy, food security, wealth creation and transport. Others are land reforms, security and education. World Bank figures have however indicated that more than two-third of Nigerians are poor, hence instituting wealth creation as a policy to alleviate the suffering of the people is a welcome development.

Wealth creation according to the 7-point agenda is focused on wealth creation through diversifying production, especially in the agricultural and solid minerals sectors. This requires Nigerians to choose to work, as hard work by all is required to achieve this reform. But for this to be attained, the rural areas most be given priority, because majority of the populace live in the villages, and that is where poverty is more pronounced. Therefore, government will have to create the enabling environment for the private sector to drive wealth creation. The institutional leadership and good government, is a pre-requisite for an environment that allows wealth creation. There is need for government to institute skilled development for productivity at the grassroots.

It is therefore important for government to concentrate on giving functional vocational training to job seekers and encourage a retraining of the existing labor force to meet industry demand. Self employment has to be promoted with artisans, farmers, market women, traders and proprietors of Small and Medium scale Enterprises (SMEs), giving the necessary assistance to boost their businesses, and to acquire entrepreneurial skills. Non-governmental organizations can also facilitate wealth creation through their capacity building programmes. There is therefore the need for government to collaborate with NGOs and religious groups to execute wealth creation strategies that focus on the empowerment of the poor through capacity building initiative.

Nigerians in the Diaspora also have a role to play by collaborating with government in promoting wealth creation through the funding of specific projects of their choice directly, or through the capital market or the provision of technical and managerial skills. The entrepreneurial skills of the poor who are predominantly domicile at the grassroots will be significantly enhanced if the 7-point agenda is embraced by all and sundry.

Dr MH Arab