Development Discourse

Nigeria, Africa’s largest economy, faces significant socio-economic and political challenges. Several factors have hindered the country’s growth trajectory. The economy relies heavily on the oil sector for revenue and foreign exchange earnings, which makes it vulnerable to global market swings. The country’s fiscal instability, compounded by governance and institutional weaknesses, has eroded investor confidence. Structural bottlenecks, notably in the power sector, further stymie the nation’s growth and cripple industrial productivity. The poor health and education systems not only fuel poverty but also hinder economic resilience.

At heart, Nigeria’s predicament stems from a lack of a clear economic vision and a disjointed understanding of its multifaceted challenges. Efforts to diagnose and redress these challenges are often piecemeal and lack the depth and breadth required to explain the complex web of interlinked issues. The absence of a clear economic direction and a blueprint for the future further complicates Nigeria’s quest for growth. This lack of strategic focus, coupled with poor implementation rigour, underlines why progress has been elusive.

Nigerian leaders must develop a holistic and concerted strategy to pivot towards sustainable growth. This edition of the Development Discourse with Patrick O. Okigbo III will delve into the critical choices and reforms needed to achieve a robust, diversified and sustainable economy. The conversation will cover the keystones of economic revitalisation: strong institutions, growth-catalysing policies, and a pivot from oil dependency towards a multifaceted economy rich in agriculture, technology, manufacturing, and services. In addition, we will explore innovative strategies to strengthen Nigeria’s human capital by fortifying its health and education systems.

A pivotal theme in the discussion will be the importance of leadership reforms. The conversation will explore how Nigeria can breed reform champions—leaders determined to steer change. These champions will catalyse a broad coalition of stakeholders to become committed to the nation’s progress. Furthermore, the discussants will also examine how leaders can implement reforms that engender lasting shifts in the cultural and mindset paradigms of the country.

Join Dr Tayo Aduloju, the Chief Executive Officer of the Nigerian Economic Summit Group and Patrick O. Okigbo III, the founding partner of Nextier, as they discuss the strategic decisions, policies and investments necessary to speed up economic growth and establish Nigeria as Africa’s economic giant.

Title: How to Grow Nigeria’s Economy
Date: Wednesday, April 03, 2024
Time: 15:00 – 16:30 (WAT)
Zoom Link: https://bit.ly/DevDiscourse_GNE

On February 07, 2024, Prof. Pat Utomi and Patrick O. Okigbo III discussed “HOW REFORMS SUCCEED OR FAIL.” Nextier, an Africa-focused multi-competency advisory firm, organised this discussion under its Development Discourse platform. You can click here to download the annotated transcript.

Africa’s economic potential is significant but underutilized. Nigeria has the potential to lead the way towards a more prosperous continent and achieve a trillion-dollar economy within a decade. Is this a prayer or an achievable goal?

In this edition of Development Discourse with Patrick O. Okigbo III, we will be discussing the critical choices and reforms needed to unlock Nigeria’s potential for exponential growth. We will draw from the book “The First Trillion: Disbelief, Arbitrage, and the Nigerian Dream” and focus on successful case studies. Our discussion will not only identify avenues for investment and policymaking to position Nigeria as the core of Africa’s economy but also explore the broader implications for strengthening political systems across the continent.

This Development Discourse will delve into the question of “how!” How can Nigeria achieve economic prosperity? What critical reforms are necessary to speed up economic growth, reform the political system, and establish Nigeria as Africa’s central economy? What are the key insights available for investors, policymakers, and anyone interested in Africa’s development? What is the detailed roadmap for engaging in the Nigerian market? What strategies should be adopted for success? Moreover, what tools do the people have to encourage their government to be responsive to these ideas?

Join Jude Uzonwanne, the author of “The First Trillion: Disbelief, Arbitrage, and the Nigerian Dream,” and Patrick O. Okigbo III, the Founding Partner of Nextier, as they discuss the strategic decisions, policies, and investments required to convert Nigeria into a trillion-dollar economy by the year 2034. Although it is an ambitious goal, they believe that it is achievable.

Title: Building Africa’s First Trillion-Dollar Economy
Date: Wednesday, March 20, 2024
Time: 15:00-16:30 (WAT)
Zoom Link: bit.ly/DevDiscourse_BuildingAfrica_JUDE

Internal Party Politics and Africa’s Democratic Future Africa is currently experiencing a range of socio-economic and political difficulties that have been gradually worsening over time. One of the primary causes of these problems is the lack of effective political leadership, which is characterised by the
absence of a clear and rigorous governance framework. This void has resulted in an aimless approach to governance, ineffective policies, and an inability to inspire stakeholders towards national development.

The failure of political leadership in Africa is deeply rooted in the continent’s weak political party system. Africa’s political parties lack strong ideological foundations and there is no clarity on their core values, vision, and framework for solving socioeconomic problems. In the absence of any clear direction, leaders prioritise personal or group interests over national ones. The ease with which Nigerian politicians switch allegiances between parties demonstrates the lack of commitment to a set of core beliefs.

One of the most critical issues facing Nigeria’s political parties is the lack of a disciplined approach towards solving socio-economic problems. In developed
countries, effective political parties create rigorous frameworks for solving socioeconomic problems. These frameworks enable leaders and electorates to critically assess and choose from a variety of solutions to social problems. This approach fosters a more engaged democratic process and a culture of informed decision-making, leading to more effective and sustainable solutions.

The decline in the quality of Nigeria’s political party system can be attributed to the monetisation of politics. In this system, wealth is often the primary criterion for leadership, as opposed to competence, vision or integrity. Moreover, the practice of godfatherism has resulted in leaders who are more loyal to their benefactors than to the principles of their political parties or the needs of the electorate. This menace also discourages capable individuals with genuine intentions from taking up leadership roles within political parties.

Internal party democracy is central to strengthening Nigeria’s political party system. It ensures the representation of varying viewpoints and promotes a more
democratic culture. Nigeria and Africa’s political parties lack a transparent system for governing party operations. Members do not have a voice in critical decisions, including candidate selection. A robust internal democratic system ensures that political parties fulfil their mandates by serving as a medium through which citizens’ preferences are gathered, prioritised, and transformed into actionable policies.

Join Dr Salihu Mohammed Lukman, Former Vice Chairman (North), APC, Former DG, Progressive Governors Forum and Patrick O. Okigbo III, Nextier’s Founding Partner, to discuss mechanisms and opportunities to strengthen political parties to build strong democracies and a prosperous continent.

Title: Internal Party Politics and Africa’s Democratic Future
Date: Wednesday, March 6, 2024
Time: 15:00-16:30 (WAT)
Zoom Link: bit.ly/DevDiscourse_PartyPolitics_LUKMAN

Nigeria’s public primary and secondary school system faces numerous challenges, including inadequate funding, infrastructural deficits, overcrowded classrooms and a shortage of qualified teachers. These factors affect the quality of education and lead to poor learning outcomes. In addition, policy instability and frequent changes in educational directives further exacerbate these issues, making it difficult to implement long-term improvement strategies.

Private schools, often perceived as catering only to the affluent, are pivotal in providing quality education to low-income families across developing countries, including Nigeria. Contrary to the common perception, low-cost private schools have effectively served the poor, often delivering better educational outcomes than public schools. Low-cost private schools can narrow achievement gaps and are preferred by many parents over public options due to higher accountability and better educational outcomes.

In his book “The Beautiful Tree”, James Tooley presents several examples of how low-cost private schools in low-income communities challenge the notion that only public education can serve the poor effectively. His research reveals that impoverished communities often take education into their own hands, creating and funding their own schools and achieving better outcomes than public schools.

Pauline Dixon’s essay “Why the Denial? Low-Cost Private Schools in Developing Countries and Their Contributions to Education” shows that low-cost private schools often outperform government schools at a fraction of the cost. She advocates for recognising and supporting low-cost private schools as a viable solution to educational challenges in developing countries.

Join Dr Mo Adefeso-Olateju, the Founder of The Education Partnership and a Fellow of the Brookings Institution, and Patrick O. Okigbo III, Nextier’s Founder/Principal Partner, to explore the potential of private education to provide access to quality education, bridge outcome gaps, and contribute to universal education goals.

Title: Private Schools for the Poor
Date: Wednesday, February 21, 2024
Time: 15:00 – 16:30 (WAT)
Zoom Link: https://bit.ly/DevDiscourse_EduReforms_MO

Several factors explain Africa’s inability to achieve sustained development. One such reason is its failure to implement reforms effectively. Various scholars attempt to explain this challenge. Guillermo O’Donnell focuses on the power calculus in the public policy process. Daron Acemoglu and James Robinson situate theirs on institutions. William Easterly looks at the day-to-day policy management process. Ngozi Okonjo-Iweala documented the challenges of “reforming the unreformable.”

Scholarship on this issue has yet to examine the relationship between the political elite and senior bureaucrats in policymaking and its impact on state performance. How has the shifting political culture in Nigeria’s various governance epochs impacted performance? How does power distribution amongst the various actors (political elite, senior bureaucrats, civil society actors, donor agencies, the military and security services) influence policy choice and implementation? Where did Nigeria lose the plot, and what’s the pathway to development?

In his 2024 book, “Power, Politics, the Public Policy Process and Performance,” Prof. Pat Utomi produces a framework that explains the relationship between high-level career public servants and politically elected or appointed officials in formulating public policy. The framework critically analyses the conditions under which national bureaucracies might influence the structure and the content of policymaking at the national level.

Join Prof. Pat Utomi and Patrick O. Okigbo III to explore this framework and how it can enable Nigeria (indeed, Africa) to improve the probability of success of their reforms.

Click here to register:
Title: HOW REFORMS SUCCEED OR FAIL
Date: Wednesday, February 07, 2024
Time: 15:00 – 16:30 (WAT)
Register here