Prof. Olumakaiye advises FG to guard against economy receding to recession

Success Damian:

L-R: Wife of former Bishop of Lagos, Church of Nigeria (Anglican Communion), Mrs. Oluranti Ademowo; Wife of the Governor of Lagos State, Dr. (Mrs.) Ibijoke Sanwo-Olu; Diocesan Bishop of Lagos, Church of Nigeria, (Anglican Communion) The Rt. Rev. (Dr.) Humprey Bamisebi Olumakaiye and his Wife  Prof. (Mrs.) Motunrayo Olumakaiye; at the Centenary Women's conference

 
Professor (Mrs) Motunrayo Olumakaiye, Diocesan President, Women & Girls’ Organisation, Diocese of Lagos Anglican Communion, has implored the Federal Government of Nigeria not to allow the nation’s economy to slip back to recession.

“The effort of the Federal government to successfully rescue the nation out of her foremost and worst economic recession in 29 years is highly commendable. The experts' opinion is that the economy is still very fragile; therefore the economic team of this administration should ensure that the nation's economy does not slip back into recession,” Olumakaiye said.

She took the position while speaking on the state of the economy at the 2019 Centenary Women’s Conference organised by Women's and Girls’ Organisation, Diocese of Lagos (Anglican Communion) which was held on Friday at Faith Plaza, Bariga. Lagos. The theme for the Conference was “Stronger, Deeper, and Higher”.

Quoting the World Bank Olumakaiye said in October 2018 'Africa Pulse' a bi-annual analysis of the State of Africa Economy via its official website said "The projected growth of Nigeria’s government to grow her economy in 2018 to 2.1 per cent dropped to 1.9 per cent. 

At the conference attended by Her Excellency Dr. (Mrs.) Ibijoke Sanwo-Olu, wife of the Governor of Lagos State, Olumakaiye maintained that the drop was as a result of renewed clashes between farmers and herdsmen recorded in most parts of the year. This she said reduced and contracted productivity in the Agricultural sector.

While enumerating some of the projects embarked upon by the women which include Archbishop Abiodun Adetiloye Comprehensive College Igboye Epe; Faith Plaza, Bariga where the organisaion built a 40-room 3 star standard lodge called Faith Lodge, among other projects, she went further to say that the volatility and the unstable price of crude oil are among the variables largely responsible for the drop in the nation's economic growth projection in 2018. She said the government therefore cannot afford to allow the clashes to continue. The life of every citizen counts, and the Nation‘s economy must not be allowed to slip back into another recession. 

In her words “I encourage the government to look into re-appraising her economic team. Nigeria is blessed with adequate human resources, knowledgeable, highly rated international technocrats and successful businessmen and women. These brains are all over the world, in the United Kingdom, United States of America, Germany, United Arab Emirates and so on.”

She said Corrupt elements among the INEC officers must be removed as charity, they say, begins at home. “Those found culpable of engendering political thuggery, assault, vandalization and destruction, killings and other electoral offences must be punished.” 

On Power she said Electricity plays a pivotal role in the socio-economic development of the nation. “Electricity consumption in Nigeria is far above the Supply. This has made the country suffer acute perennial Electricity problems, which have been identified as hindrance to the Nation's economic prosperity and national development.

“Presently, the installed power generation capacity in Nigeria is 12,522MW; out of which 10,592MW is gas fired, while 1,930MW is from Hydro. The maximum peak generation by power plant as at last year is put in the region of 4,083.34MW.

When we put this figure side by side the nation's estimated population of about 180million people, it could only mean that we still have a very long way to go,” she said. 

Olumakaiye  stated that if the government was able to tackle and solve the recurring problems of power, the multiplier effect on the nation's economy will certainly be unimaginable. Citizens will live better, small scale businesses would thrive, industries folding-up or relocating to neighbouring countries would be over. “As industries and small businesses begin to thrive, it will boost employment generation. Youth unemployment will reduce drastically, youth unrest will reduce, and crime rate will go down.” 

She stated that an online publication of January 2019, puts the youth unemployment rate in Nigeria at a worrisome 36.50 per cent as at the third quarter of 2018 dropping slightly from an alarming 39 percent in the second quarter of 2018. Those are not comforting figures, as they remain worrisome indices of a challenging tomorrow. 

His Lordship, Rt. Rev’d  (Dr) Humphrey Olumakaiye, Diocesan Bishop of Lagos prayed and reminded the women to be stronger, deeper and higher in the lord, “We must take notice of these great things, we must be aware, we must know that our God is able and He is always available. For us in the Diocese we are not going to compromise, every member must be strong in the lord, go deeper in the knowledge of the word, and go higher in our hope for eternity.”

He reminded the congregants of the diocesan five-fold ministry of the church “Don’t forget our five-fold ministry: priestly, pastoral, prophetic, prayer and the praise. What we are doing now, we want you to have satisfaction in our church, to be contented in our church, we are doing everything that would give you fulfillment in Anglican as a church. We don’t want one leg inside and one leg outside, we don’t want a situation you have one pastor elsewhere.  We are evangelists, we are prophets. So just believe, and by the grace of God we pray that God will stand by you,” he said.