By Inok Solomon
“Leaders are pioneers, people who are willing to step out into the unknown.”
Our past had one weakness and that was the Oil money. Debauching our currency through Oil money suddenly made people mostly politicians rich. Shopping became the national sport. Holidays abroad was like going to toilet. many felt enough is enough, let build our tourism centres. Many in the middle class became what one writer called, “Pseudomillionaires.” Capital Gain values where at the increase while cash flow ventures were overlooked.
Many came to believe their retirement would be financed by profits in the stock market. People took out Home equity for family vacations. Instead of one car, families had assorted cars, Mercedes, Minivans, and SUVs. Men married many wives and children went to school with fat bank accounts.
Because of the New found wealth, middle class celebrated by dinning in fancy restaurants, dressing in designers clothes, driving Porches, and living in Mansions all Financed by DEBT.
Everyone celebrated with the tourism centres, Hotels, Marina and TINAPA and Obudu Ranch Resort were all joyous points for Debt Monies to be spend.
The realities of such a boom period is facing us all today. We are all coming out of the economic debt boom period.
The Boom was a problem because it was cause by Debt, not Money; by Inflation, not production; by borrowing, not working.
“In many ways it was money for nothing, because money was nothing.” Keynes once said, “our money was debauched. We looked rich, but society as we knew it was collapsing.”
Cross Riverians, with each bailout, we surrender more of our financial freedom and our share of public debt grows and grows. In our state, we have limitless resources, we must not therefore continue to yield ourselves to a consuming society alone. Our perfect docility is not weakness but an advantage. Our heritage and diversity is never a curse but a blessing.
Until we understand these and channel our efforts towards Production, rebranding our educational systems to teach us about money and emancipate us from the shackles of going to schools only to get good jobs rather than creating and owning jobs. Freeing us from begging for Job security instead of financial security.
Today, we do not need money to make money. We simply need knowledge bedded in Ideas. Our Information Age must be balanced with the Industrial Age. Our educational system need grow from Industrial Age to the present Information Age.
To balance all these, Governor Ayade is taking us through a process of Economic Revolution. A period when we wake seeing the source of tomorrow greatness. Sleep and dream of ideas that will add light to our dark tunnels.
To enhance our potentials, we must use our resource potentials right. And the best is to change them to technological finished goods.