Bad Leadership Is The Bane Of Nigeria’s Many Problems - Fayemi

Former governor of Ekiti state, Kayode Fayemi, has described bad leadership has the bane of the cause of Nigeria’s many problems.

The Minister-Designate said Nigeria would have gone bankrupt, if it was a private a company, owing to the level of mismanagement by the country’s leaders.

Fayemi blamed bad leadership for the ‘dysfunction of institutions, rampant graft and social unrest from the militancy in the Niger Delta and the terrorist insurgency of Boko Haram.’

He said all this while speaking as the guest lecturer at the Akintola Williams Distinguished Lecture Series held in Lagos, on the topic: ‘Leadership factors and good corporate governance: Key to national growth and development’.

“We politicians are the scapegoats for all that is wrong in our country and are thought to be the most afflicted by such deficiencies. As a political operative myself, I can certainly relate to this. The conversation on leadership, for example, tends inevitably to focus on political leadership as though this is the only type of leadership that matters or exists.

“The theme of today’s lecture, therefore, offers an opportunity to discuss a dimension of leadership that is rarely given as much prominence as it deserves, but which has become increasingly vital and strategic. Of course, political leadership remains both necessary and important.”

“They are reflected in the wide-ranging dysfunction of institutions, rampant graft and social unrest – from the militancy in the Niger Delta and the terrorist insurgency of Boko Haram in the North East to the various formats of violence essayed by hostile non-state actors. All these plagues emanate from a failure of public sector leadership.

“In my view, the greatest expression of the failure of public sector governance is the creation of extreme poverty and inequality in the society. The defining contradiction of Nigeria is that it is a country characterised by widespread poverty in the midst of plenty.

“The statistics are stark. With a maximum crude oil production capacity of 2.5 million barrels per day, Nigeria ranks as Africa’s largest producer of oil and the sixth largest oil producing country in the world. In the last 50 years, Nigeria has earned over $800 billion as revenue from oil.

“The giant of Africa has proven reserves of 180 trillion cubic feet of natural gas – the largest on the continent. In recent years, she has recorded an average growth of 7.4 per cent, which according to the World Bank is one of the highest in the world, and an aggressive monetary policy has helped restrict inflation to single digit levels.”