Unemployment benefit can be described as money paid to an unemployed worker by a government or its agency during all or part of the period of unemployment. The practice obtains in different forms in many developed countries of the world. Given the unemployment rate of about 25 percent in Nigeria, one may be tempted to suggest the adoption of the unemployment benefit programme as a means of (at least, temporarily) ameliorating the problems of unemployed Nigerians.

While this might be a legitimate desire, it is one that should be considered with caution. The need for caution on such a line of thought is better appreciated if we recall the instructive position of former US president, Ronald Reagan, in that regard. Reagan had warned: “We should measure welfare’s success by how many people leave welfare, not by how many are added.” An unemployment benefit regime is a temporary welfare programme and what our country needs at the moment is not a temporary solution. Ad hoc measures are never foolproof.

Development theorists speak of the instrumentalist nature of democracy. Democracy is the political system where politically active members of the society decide by generally approved means what principles will govern the society. Beyond this, proponents believe it is even more a means towards the socio-economic development of society and improved welfare of the people. Where democracy falls short of this, what obtains is a farce, or at most a quasi-democracy.

Yet, on this momentous occasion of the 14th anniversary of our return to democracy, we must agree that Nigeria’s democracy has come of age. In these 14 years, we have transited from one democratic government to another, twice; we have instituted electoral reforms and we have entrenched the separation of power principle; and on the economic front, our GDP has grown from about $47 billion in 2000 to over $240 billion in 2012. For a fact, Nigeria’s growth trajectory has been positively peculiar within the African economic space and it has been mooted that we could overtake South Africa to become the biggest economy on the continent soon.

Obviously owing to our remarkable macroeconomic gains and relative economic stability, our country is now one of such globally acclaimed emerging economies with potentials to transform into developed societies in the near future. Our classification among blocs such as Global Growth Generators (3Gs) and Next Eleven (N-11) is evidence of our country’s potential.

But more importantly, the expressed belief in Nigeria’s growth potential is not baseless. At over 165 million people, our population is close to 20 percent of Africa’s population, 47 percent of that of West Africa and our urban population rate stands at 50 percent. Ours is a big, dynamic and receptive market. We are Africa’s biggest oil exporter and we also hold the continent’s biggest natural gas reserves. Agriculture still makes up over 30 percent of our GDP despite the fact that only 10 percent of available farmland is presently cultivated optimally. Planned reforms in critical sectors of the economy are underway and we have noticed efforts to develop public infrastructure, especially through the Public-Private Partnership (PPP) model. All of these are further evidence of our potential for growth.

However, there is something we need to be mindful of at this stage of our national history – the danger of over relishing the strength of today to the detriment of the strength of tomorrow. Vision, hope, aspirations and the potential we harbour today are not ends in themselves. The plethora of natural resources – human and material – we are endowed with will come to naught if we fail to harness them to transform our society.

Yes, we have noticed renewed commitment on the part of government to reform critical sectors and to diversify our economy but we must now match words with action. The former president of the Czech Republic, Vaclav Havel, put it very strongly when he said: “Vision is not enough, it must be combined with venture. It is not enough to stare up the steps, we must step up the stairs.”

It is ironical when a developing nation has a high unemployment rate. A developing nation presupposes a society where there is so much to be done to move to the next level.

The quest for economic growth and social development coupled with our recognised potential should fuel jobs for our teeming youth population. Mass public works to develop public infrastructure and modern transportation system, mechanised farming and produce processing, exploration of other natural resources aside crude oil and increased manufacturing, especially at the SME level are some of the programmes we need to encourage to create employment for our youthful 50 million-man labour force even as we secure a better and assured future for them.

Conclusively, our chequered history is replete with documents upon documents of proposed development programmes. Truly and very rightly so, we have spent considerable time envisioning the future and articulating our potentials. It is time for us to start actualising that envisioned future. There is a threshold between potentiality and actuality and we must cross it to make our combined efforts at sustaining our democracy worthwhile.

LET US PRAY

Dear God, we stand today as our forefathers have stood before You in times gone by celebrating our history and democracy and reveling in the great things our country has achieved to date. We thank You for the blessings of liberty and thank You for all those who have bravely given their lives in the defence of it. We now seek that You breathe new life into the sinews of this nation. May peace flow like rivers and progress like a never failing stream.

Honeywell Group