The Political Leaders , Governors, in South East are shameless. They have allowed the Region to degenerate economically, politically and morally. The economic inequality in the south east has widened to the extent that political offices have become most lucrative.
These Governors have deliberately locked all the economic opportunities that would make the young ones independent.
Truth be told , Nigeria Constitution favors central government but it is expected that south east Governors will think outside the boxes in providing Good Governance for a people who have lost confidence in anything Government.
Keke Tricycle has become another viable slave business for the unemployed and under-employed youths in south east. Many people whose businesses suffered setbacks had to seek refuge in tricycle transportation business because of its quick return on investment
.The reason is obvious: Banks including microfinance have seen tricycle operations as a cashcow that has higher and quick return on investment because of available market.
Few days ago , i was on the street to buy some food items . I was held in a serious traffic jam- the entire road was blocked by keke Tricycle. That was when i realized that the number of Keke Tricycle on the road has increased in geometric proportion.
I have previously concluded that any city with higher number of Keke Tricycle is sending one signal – that employment opportunities are limited. Again , because of quick return on investment, financial institutions can always make money available on hire purchase basis.
The experience i had that night in traffic jam made me to start asking questions; how much is keke Tricycle that most young people can afford to buy one in order to join the business of the moment . I was informed that Keke Tricycle is N2,700,000 ( Two million seven hundred thousand naira) . I was dumbfounded! I could not believe myself that people could cough out more than N2million to buy Keke Tricycle. I was further reminded by Keke Operator that microfinance banks give out Keke Tricycle at hire purchase for N3,800,000 with proper documentation and surety.
It is obvious that access to capital is the only reason why our roads in the south east have been taken over by keke tricycle operations. Again, quick return on investment is the factor that encourages lending .
In Anambra State for instance, Government is enjoying the windfall from keke Tricycle operations. Each keke tricycle operator has a unique tax code and is required to pay N15,000 per month amounting to N180,000 per year. After several months of agitation, Soludo Administration brought it down to N8,000 per month ,N96,000 per year . A Keke Operator told me that there are more than 2000 registered keke Tricycle operating in Awka town alone . Do your mathematics!
But , i am worried ! In 21st century, things are done differently. Government determines the direction of economic activities. Agriculture is known to be the highest employer of labour and to solve the problem of food shortage, Government organizes the value chain in food production from the starting point to selling point. Once the value chain is organized and investors can be assured of their investment,the sector will become attractive and viable like Keke Tricycle operations. This is the role of Government. Unfortunately, South East Governors are not providing this needed Leadership. Prof Chukwuma Soludo was a former CBN Governor that should attract special Agricultural intervention.Sadly, i have not seen such intervention neither have i seen any farm settlement developed by the State Government. This is Leadership failure and people have no choice than to operate without Government initiatives .
Ndubuisi Anaenugwu is the Ambassador General of Good Governance Ministry (GGM)
