Why Soludo Is Right!

TEMITOPE AJAYI

I think a lot of people missed the point in Professor Charles Soludo’s submission on Peter Obi and the much bandied investments he made on behalf of Anambra State in some private businesses.

Let’s lay a few facts bare. Soludo didn’t say it is bad for a governor to make investments on behalf of his State. My understanding of what he said is about getting the real cost of the alternative forgone to the State and the people.

Soludo is simply querying the wisdom in placing money in banks and in other investment vehicles, while the core responsibilities of government that should be the provision of critical infrastructure, sanitation, security and other social services like education and health, are left unattended to. It simply does not make sense, both in the medium to long term.

Let’s call a spade what it is. Peter Obi exposed the commonwealth of the people to the uncertain vagaries of a market he has no control over. That is an error of judgement that he must own up to rather than doubling down on his jaded tales of making a wise investment decision.

The question now is: what is the cost of not fixing the roads that should have been done 10,15 years ago? What is currently the cost of not building the schools, hospitals, erosion control etc that were not done 10 years ago?

What is the economic sense in piling up money in banks or some investments, rather than address the deficit in your State’s infrastructure when it was cheaper to do so? Even more galling, is that not only are the so-called investments now worthless, the State is now paying triple the price to do what should have been taken care of a decade ago.

Head or tail, the people of Anambra are the losers. They have not only been denied quality life via the provision of social amenities, they have lost the value of their money. A case of double jeopardy in its truest sense.

Obi’s action boils down to lack of foresight, a requisite attribute a leader must have. That point should not be lost on anyone.