According to the National Bureau of Statistics, the Nigerian economy exited recession in Q2 2017, recording a GDP growth of 0.55% after five consecutive quarters of contraction. The growth rate may appear insignificant to some but it is clearly an indication of progress. We moved from a negative to a positive point. Nigeria’s history is a chequered one; yet a genuine conversation with the past will also validate the view that it has not strictly been a tale of gloom and doom for our dear country. Radical optimism has its downsides but the extreme opposite is also very inhibitive. The point therefore follows that we must appreciate the modest progress made in exiting the recession and, subsequently, work towards building on, and consolidating the gains recorded therefrom.

To be clear, the Nigerian economy was officially declared in a recession at the end of Q2 2016 after two consecutive quarters of contraction. It was the first time the country witnessed a recession in 20 years and it was quite unnerving for the populace. Generally, clamour ensued for the Federal Government to do all it takes to get the country out of such a dire economic situation. Taking a more holistic perspective, some others strongly advocated, and rightly so, that the country needed thorough introspection to determine what caused the recession so we can avoid those pitfalls going forward. With the benefit of hindsight, majority of us agreed that the country failed to save for the rainy day during the boom years and also failed to invest in critical infrastructure and institutions that drive growth and productivity. As we begin to make the gentle and tedious climb out of the sinkhole, it is instructive that we hold on to the important lessons of those dire moments. More importantly, we should not forget the fact that the modest progress made was through the collective effort of a resilient people.

Truth be told, we sometimes do not give ourselves the credit we deserve as Nigerians. This is not to say we should encourage complacency and mediocrity, yet that unique vibrant, energetic and highly optimistic nature of Nigerians is something we need to appreciate and harness for economic growth and socio-cultural development. Irrespective of tribe and ethnicity, one thing common with all Nigerians is exceptional drive, that ‘survival instinct’; that is, the ability to make the best out of daunting challenges and the acumen to seek and harness identified business opportunities therefrom. A most worthy example of this is what young Nigerians have made of the arts and entertainment industry.

The story of the Nigerian film and television entertainment industry, otherwise called Nollywood, (valued at $3 billion by Fortune Magazine) remains an inspiration and a concrete evidence of what the Nigerian ‘spirit’ can create. From days of low quality, hurriedly-put-together productions, Nollywood has grown to become the second biggest film industry in the world, by volume. The production quality of Nigerian movies has taken a quantum leap, such that Nigerian movies now earn screening places at international film festivals. The same is also true of the Nigerian music industry. The Nigerian music industry, propelled by the fervour of young, talented Nigerians, has also attained the pre-eminent position on the African continent as the pacesetter for genre, trend, style and ‘swag’. Much so that it is now easier for Nigerian businesses to go into other African countries simply with the endorsement of our music superstars!

From the foregoing, we can deduce that Nigeria, looking inwards, is richly blessed with resources and wherewithal for creativity and productivity required to develop its economy and lift majority of its people out of poverty. To achieve this, we only need to tap into those unique talents of Nigerians and harvest the richness that lie waiting therein.

We will describe what we find unique to Nigerians as the spirit of enterprise. As a matter of national urgency we need to then build a national consensus around this unique spirit; even as it is anchored on sound ethical values. National ethos provides a platform, indeed a springboard, for a country to unite and galvanise its people towards growth and development. The American Dream as a national ethos that binds the people of the United States of America is one very popular example. Why not the Nigerian Dream as a motive for everyone and a rallying point for our much needed renaissance?

Our youth population should be the first focus of the national ethos. Fortunately, young people are not given to historical prejudices or ethnic inhibitions. To achieve this, we must help our youths to appreciate the values inherent in their enterprising nature whilst equipping them with the right resources to hone it. We can learn from the Asian Tigers here. To become global models of national growth, the Asian Tigers (Hong Kong, South Korea, Taiwan and Singapore) heavily invested in development of intellectual capacities of their youths. This again speaks to the need to provide the right type of education and skills for our youths; education and skills that can help them develop and project their God-given talents and energy into more productive ventures. With this, we will be able to significantly reduce restiveness often occasioned by idleness. A second important point is the need to invest in critical infrastructure that galvanise productivity – we cannot overemphasise this.

Indeed, exiting the recession has again offered a ray of hope: that the collective desire and concerted efforts of Nigerians can lead to progress. Albert Schweitzer spoke of how in their bid to reach the moon, men fail to see the flowers that blossom at their feet. This is an instructive point for all Nigerians as we again commemorate our Independence Anniversary. Whilst hoping and praying for a time when our country will join the developed world, we need to immediately realise that our unique enterprising nature presents a bond which not only unites us but should serve as a pivotal inspiration that can propel us to creating the country of our dreams.

We at Honeywell Group wish all Nigerians happy 57th Independence Anniversary.

LET US PRAY

Dear God, we thank You for yet another opportunity to celebrate our nationhood. Amidst strife and difficulties, we continue to march forward with courage and optimism for a better tomorrow. As we forge ahead from the throes of recession to sustained economic progress, growth and abundance, we ask that You direct our noble course and help us to entrench brotherly love, care and genuine passion; all necessary requirements for peace, social orderliness and development.