Economic intervention: data gathering and operationalisation

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Economic intervention: data gathering and operationalisation
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For once in decades, the organised labour unions proved it could still bark and bite. It was a one-day action but better than no day.

After President Bola Tinubu’s public address, which was unusual under the All Progressives Congress government, some thought there was no need for the unions to go on protest. After all, the government had made public, through the President’s broadcast, its economic plans. The unions thought otherwise because in their analytic minds, some clarifications were necessary and some government’s positions could require alternative solutions. The unions have my support.

In an earlier article last month, I submitted that the government should assist local enterprises to produce what we need rather than engaging in the importation of what can be obtained here, as a way of creating jobs and saving the country’s foreign reserves. In that connection, the government has declared its interest in looking inward first before looking for supplies from outside. It has promised to empower even big businesses with funds. But every intervention requires conditions.

The government cannot afford to just throw money at projects without checking their outcomes. Going through due processes can be cumbersome but the chain of bureaucracy can be reduced to get quick results. That is why the involvement of institutions with expertise to carry out the jobs rather than through ministries and their agencies becomes very important. The MDAs are naturally groomed in bureaucracies and attendant delays in taking action.

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