How Do You Solve A Problem Like The Economy?

Don't you just love the Sound of Music?! I just never ever get tired of it. Two things I can watch over and over and over again - Sound of Music and any episode of Star Wars (yes I know that makes it seven things but let's not be pedantic). 

Speaking of which, on Sunday morning all six episodes of Star Wars will be shown - back to back - on dstv. How awesome is that?!!‎!!!! In-fact, come to think of it that means I have to shift my Sunday morning run to either Saturday morning or evening. Decisions decisions. 

Right, so now I've got my pre Star Wars marathon feverish excitement out of the way, let's proceed with this week's matters at hand.

As is my usual practice on Thursday afternoons when no news in particular has taken my fancy, I asked my colleagues what this week's main talking points are, and they all replied in unison " Light!!!"

"What do you mean light?" I asked, before recognising the blatant reality that has been staring us all in the face these past few weeks. 

Light has improved beyond all recognition. 

It's almost as though one is living in a different country.

On a daily basis I ask myself, "you mean this kind of electricity supply is actually possible in Nigeria???"

Just goes to show what the fear of a strong willed, no nonsense leader can do to people; in this case those in the power sector. 

But before delving further into the reality that despite our complaints of PMB's so called go slow government it is worth remembering that this administration has already significantly addressed two major problems that were crippling us all a few months ago - Power and Petrol - I was reminded by one of my colleagues that I had promised to write a few words on the economy this week. 

So to coin a phrase from The God Father, just as I thought I could gallop away in a blaze of power and petrol ecstasy, they pulled me back in. 

And quite rightly so, because the state of the economy is a grave concern for all of us. 

The nation's GDP growth rate slowed to a most cumbersome 2.4% last week. Bearing in mind the average growth rate of the past decade was 7% one can't help wondering about the direction in which we're heading. 

In truth, as a result of low oil prices, and an election year that both domestic and international observers believed would bring the nation to its knees, not many can claim to have expected exciting rates this year. 

Here are some bitter truths;

1. Nigeria needs at least 10% + per annum growth to reduce unemployment materially. 

2. Add the current slow growth rate to the population growth rate and it's quite clear we have a very serious problem; rather like a salary getting nowhere near to meeting the most basic of needs.

My question is why compound matters further with virtually no policies?

The economy seems to have gone from neutral to reverse. 

Something urgently needs to be done to get things moving again. Otherwise those voices that are claiming that no-one is in a better position today than they were a year ago will inevitably get louder and louder.

What needs to be done to get this economy moving again?