According to the report from the Sun, former Peoples Democratic Party (PDP) stalwart and 2019 presidential candidate of the Rebuild Nigeria Party, Dr. John Kennedy Osuala, has called for a fundamental restructuring of the nation's import-export policies, drawing parallels to Nigeria's founding fathers' economic vision.
In an extensive policy statement, Dr. Osuala employed a compelling metaphor to illustrate Nigeria's economic predicament. "The Nigerian economy wants to go to Abuja from Aba, but has already boarded a bus going to Calabar, and so can never reach Abuja," he stated, emphasizing the misalignment between the country's economic aspirations and its current direction.
The former presidential candidate highlighted that this economic paradox was well understood by Nigeria's founding fathers. "Nnamdi Azikiwe knew this secret. Obafemi Awolowo knew this secret. Ahmadu Bello knew this secret," he noted, suggesting a historical precedent for his proposed reforms.
Dr. Osuala advocated for stringent state intervention in trade policies. "The solution to correct this economic secret, which will never allow Nigeria actualise its true development potential, is to use state authority and sanctions, to stop Nigeria from importing all kinds of useless things, and the export of all kinds of useful resources, such as crude, coal, cocoa, palm oil, groundnut etc," he explained.
Further emphasizing his position, he declared, "Under positive, strong state authority and sanctions, we must stop the excessive importation of all kinds of processed products from factories of foreign countries, and stop our export of all kinds of our unprocessed products or raw materials."
This proposal represents a significant departure from Nigeria's current trade policies, advocating for a more protectionist approach focused on domestic processing and value addition. Dr. Osuala's stance reflects growing concerns about Nigeria's role in global trade dynamics and its impact on national development.
The statement has sparked discussions among economic analysts about the viability of such restrictive trade measures in today's globalized economy, particularly given Nigeria's heavy dependence on oil exports and imported manufactured goods.
