An expert, Dr. Ogbonna Onyeisi, mni has advocated the need to prioritize economic patriotism for national development in Nigeria.
Onyeisi stated this in a lecture he delivered to the participants of the Senior Executive Course, SEC 44 at the National Institute for Policy and Strategic Studies, NIPSS, Kuru, Jos on 31 May, 2022
He recalled that President Muhammad Buhari had given the SEC 44 participants a research topic which is to embark on studies and come up with recommendations and strategies on how to reposition the Nigerian local government system for grassroots wealth creation.
His lecture which was titled, ” Rethinking Economic Diversification through Unlocking Grassroots Wealth: Lessons across the globe”,had several parts such as , the structure of the Nigerian economy in comparison with the Japanese, Brazilian, Indian, UAE, Rwandan, and Ghanaian economies; discussion on the inclusive and shared-growth economic theories as synonymous with grassroots wealth creation;and the three components of economic patriotism.
He maintained that “the patriotism of the citizens is the unique lesson that has helped to strengthen economic and political institutions in these countries as strong institutions help in economic diversification, growth, and development.”
According to Dr.Onyeisi, “Most African economies, especially Nigeria which is a leading force in the African economic renaissance, must abandon the classical economic concepts or Western-centered economic ideologies and emulate the Japanese Strategic Economic Development concept through the development of homegrown economic strategies based on economic patriotism and neo-capitalist thinking.
Comparing Nigeria and Japan, Onyeisi argued that Japan and Nigeria depict a contrast between developed and developing economies with significant similarity in their influences in their respective region: large population size, multiple religious societies, and similar political experiences as a result of Western Imperialism.
He also argued that Japanese ability to rise from rubble after WWII, becoming a second-largest economy before being overtaken by China, and her current global status as a major financier of international donors is an important case of study for modern economic growth theorists. Japanese growth and development experience depict a great lesson for both developed and developing economies like Nigeria, a British colony with more than 50 years of independence, which has attained the status as one of the influential regional countries in the world and the largest economy in Africa.
On why the country is not witnessing economic prosperity at the grassroots, he explained, “Firstly, we have always been constantly looking for lessons from the globe. Secondly, we most often admire and always seek lessons from other economies. And thirdly, we seemed not to have appreciated the importance of national value system of economic patriotism. ” National value system includes the citizens value, cultural value, sociatial value, political value, economic value, with much emphasis on rights and responsibility of every citizen.”
According to Dr.Onyeisi, global lessons do not exist because there is no fix-it-all policy framework that is workable for every economy. As his contribution to the assignment given to SEC 44 participants by President Muhammad Buhari, Dr. Onyeisi urged them to explore new ways and means that will help our country’s economy to diversify, grow , and develop. He advocated the every citizens of Nigeria must look inwardly, reflect on the challenges facing the country and help to promote Nigeria’s national value system. In his view, ” let us develop and promote a value system of economic patriotism, a homegrown development initiative which has somewhat helped many other economies to diversify, grow, and develop.”
There was interactive section between, the guest lectuer, Dr.Onyeisi with the participants that were nominated by the Presidency. The participants comprised senior military officers, senior police officers, senior custom, Civil Defense, immigration, DSS, Senior civil servants from federal and states, MDAs, and organized private sectors.
Also during the interactive session, NIPSS’ Directing Staff, including, Professor Tunji Olaopa who commented on the lecture noted other things, that Nigeria “must aggressively pursue the local content to create wealth, promote made in Nigeria goods…”
In conclusion, Dr. Onyeisi stated that if wealth is to be unlocked at the grassroots, the nation must abandon the classical economic concepts or Western ideologies and emulate the Japanese Strategic Economic Development concept through the development of homegrown economic strategies based on economic patriotism.
Onyeisi reiterated the importance of patriotism as an enabler for economic diversification, economic growth, and economic development and outlined three components of what he called economic patriotism which include technology innovation, product packaging, and the promotion of the national value system.
