Vanguard, MONDAY, JULY 29, 2013 — 19
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hat makes economics an interesting science of behaviour is its attempt to predict the behaviour of economic agents. In the attempt to predict how certain economic actors will behave in a given situation, economic statisticians introduced the theory of probability. Using probability and permutations, the concept of zero-sum game emerged. In the game of zerosum, the winner takes all. Looking at the practice of politics in Nigeria, it was initially politics of sharing by allocation. It is now absolutely a zero-sum game. Political actors in Nigeria today are involved in the game to benefit themselves only. It is a situation in which one politician’s gain comes only democracy. The overall well- wants to stop me from being a from another politician’s being of society is premised on first lady, having access to losses. The net balance in total efficient allocation of scarce power, access to the purse of wealth allocation is now zero, resources. When such are Niger- Delta states. It is about allocated and the perception that if 2015 meaning that the resources rightly that should have been used to execution carefully monitored, comes and my bread winner is stopped, I will be in the cold. develop the nation are taken it ensures value for money. But what you find in Nigeria In decent and sane societies, over by political actors for their is war between political with her confession, she would use. The nation’s wealth is friends and foes. Nigerian have been picked up for simply shifting from one politicians are friends as long questioning, but alas, the politician to another. In the as they agree to a sharing attempt to make it, they stop formula. The moment there is short at nothing. Whoever gets disagreement on sharing, the in their way is an enemy that war starts. No Nigerian must be crushed to death. politician wants to lose a kobo They act like moving train, to any other. Ask yourself, why whose path no human must will 36 state governors enter cross when it is approaching. into a room to vote only to They have rendered come out to disagree and it has institutions of state now become an open war? Is this war between the unworkable. governors’ forum and the igerian politicians are Presidency because of the deadly. They employ Nigerian electorate? Certainly every means available to cling not! Nigerian politicians do not to power, not for service, but disagree on principles as it is machinery of state will not to dispense favour, enrich in other places. Not even allow that in Nigeria. along party line; they do so on themselves and secure the Is the in-fighting within the future of their unborn babies. what they seem to be losing PDP about the wellbeing of out from. The budget war about It is only in Nigeria that Nigerians? Of course not. It is politics is big business. The constituency projects is all positioning and repositioning about what comes to me in the more you sow either in to lay hands on the national resources or violence to budget. cake. It is to scheme out those diminish your opponent, the s the war between the opponents in the zero-sum more the benefit. Rivers State political games politicians In economics, allocation of play in Nigeria. Have you not resources is key to achieving legislators and the governor heard that Nigerian about the people? No, it is economic well-being of all, politicians, who find their way which is the ultimate goal of about the desire of the center to political offices earn the to cling to power! Is Patience good governance. highest wages in the world? This is because what is Jonathan’s involvement about Yet, in comparison, Nigerian the welfare of the people of available cannot go round all; economy is under-performing bring to the doorstep of every Rivers State? Not at all! It is compared to those of other about fighting the enemy, who citizen the dividend of
Nigeria’s politics of zero-sum game countries. It is only in Nigeria you go into politics not to serve but to be served. Nigeria politics is about making unjustifiable wealth. How do you explain that a kilometer of road in Nigeria is constructed at $1million? How do you explain that the President or Minister of Petroleum Resources can on
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A politician, who performs creditably in office, has nothing to fear about re-election. Nigerians are no fools.
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their own award oil blocks to whoever they wish? Why will politicians not kill, maim or do anything to become president? Why is every region fighting to have their own as the next president of Nigeria? So that the few that have access can make it. Is it not why selfish politicians, who were around Umaru Yar’adua did not want him out of office when it was obvious the man was incapacitated? How come that at 80, Papa Anenih is still out there struggling in the name of politics? In more decent societies, he should be resting,
waiting for the ultimate call. What value is an 85-year-old man adding to the polity? Why are these men still parading themselves as people, who have things to offer other than to share the nation’s cake?
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hy must Nigerian youths allow themselves to be used by these no good politicians to kill, maim and destroy, all because they want access to power in 2015? Is it not time Nigerian youths and the middle class begin a movement to rescue Nigeria from these scavengers, who call themselves indispensable politicians? A politician, who performs creditably in office, has nothing to fear about reelection. Nigerians are no fools. They know who is serving their interest. If Mr. President has performed creditably, he has nothing to fear about 2015. But the question to ask him is, Mr. President in your mind and conscience, have you delivered on your promises? Politics of zero-sum game will not help this nation called Nigeria; it will only set us back. All of you involved in this unwholesome act of zero-sum politics are doing Nigeria a disservice. The economy is losing massively in terms of investment flow due to this mindless war. It has to stop now.
Business & Economy
Ownership tussle: GSK in fresh negotiation with shareholders Continued from page 18 “The market in Europe is crumbling and African market is where the opportunities are. They have seen that the future of African market is very bright. That is the reason for this hostile attempt for indirect ownership increase. This proposal is a pure attempt to deprive us of what is our right but I must say that no Nigerian must be forced to part with his share,” a shareholder, Nonah Awoh said. Adebayo Adeleke, the Secretary General of Independent Shareholders Associations, while condemning the proposal called on the company ’s
management to strive to follow due process and allow the law to take its course in their bid to reach a common ground with their shareholders. But Mr. Osunkeye said nothing was being done outside the law. He recalled that the Stock Exchange approves that a foreign company according to its regulation can get up to 80 percent share increase. He said, “GSK has decided that they want to do this within the laws of the country but Nigerian shareholders in view of their experiences in the past and so on decided that that 80 percent is too much.” In the meantime, the shareholders have decried
subtle compulsion and unfairness in the entire process and are therefore specifically asking that if they are going to sell at all, it would be at their chosen price of N75. They are also asking that global best practices be observed in the process whereby GSK UK, the bidding company be forbidden from voting. But Osunkeye said fairness has been the principle hallmark upon which the process has been built and argued that Nigeria’s current economic development and evolution would not allow for the global best practices that the shareholders are calling for. This idea, he said, might scare
away willing and capable entrepreneurs who would have listed on the Stock Exchange and enhance economic growth. “You see, in the UK, GSK UK as a UK company, under their practice, will not be allowed to vote in that scheme, so Nigerian shareholders are now saying that, that practice must be observed here in Nigeria. But my personal view is that, even though it is called global best practice, and we subscribe to global best practice, we must not forget that in every countr y, they have their deflections and adaptations to suit their conditions. “After all, this idea that a company in UK will not be allowed to vote in shares has
not been there forever, it’s something that started about last ten years. So it is a reflection of their economic development. They feel they can now move to that area. Maybe there are no majority shareholders anyway. So there is diffused ownership and the system in our country should rather be to encourage the few entrepreneurs who have the wherewithal to list on the exchange. There is dichotomy there. Our interest in respect to the state of our economic development is not yet in line with the interest in UK because they are more advanced and their environment is very much different,” he explained. C M Y K