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Gilbert Ekezie
Mayor Godwin Ngozi Obi, was one time gubernatorial candidate of ACPN during the 2015 election in Lagos State and governorship aspirant for PDP in Imo State in 2019 election. He is also a research fellow and astute banker with several meritorious awards and more than 12 published books on economic subject matters to his creadit. He recently spoke to The Sun on the negative impacts of COVID-19 pandemic on Nigeria and the world, proffering possible solutions to the economic effects of the pandemic
Excerpts
Impact of COVID-19 pandemic on world economy
The pandemic, COVID-19, apparently has left gross devastation on all nations of the world. As a result, the world economy has grossly been devastated and thrown into depression with various countries battling to redmedy its consequences.
Missing gaps in fight against coronavirus
Yes, I would say that there was a dangerous omission to have quarantined the workforce across the world. Yet again, it is evident that educational institutions and professional sectors are required to be quarantined in relative terms. This would have reduced in relative terms, the mortality rate in millions, as it affects the masses. I would also say that the missing gap is due to the non -availability of visionary leaders in the world decision making bodies and in the management of government and its planning team, especially in Nigeria. Rather, what we have are ranks and file of political office holders. That is why it is a must for institutionalisation of decision-making policies in every government of all the nations, to accommodate research fellows, visionary icons and astute professionals to compliment the thinking and the amendments of policies for incoming and outgoing political leaders worldwide.
Consequently, the disparities in nations of the world, would not have engendered the unpreparedness that met the emergence of the pandemic. Be it as it may, it was apparent that the world was found deficient in logistics of any kind on the need for an assured solution to contain the pandemic upsurge. From my experience, exposure and experience from previous occurrences decades ago, especially the disaster of 1918, I think they could have served our preparedness in the world for time like this, to source for ways to protect the economies and the citizens. It is never the best to go to bed with both eyes closed.
Way forward
As the world economy has been devastated, it is given that every nation must consult with its professionals to create technological schemes and logistics capable of bringing the world to its feet again to keep the economy running strongly with perfect protection against any form of pandemic.
The World Health Organisation (WHO), with exceptional excellence, has displayed a great sense of commitment arising thereabout to deserving seriousness it faced on the pandemic. It is important not to walk away from appreciating the huge task and the world demand for cure to remain safe which responsibilities rest clearly on WHO’s shoulder to contain.
However, it is important to remind us the urgency and deserving expectations that the absence of visionary icons, who are duty bound to see ahead of time have caused us. It is viewed that, had logistics been remembered and adopted by WHO and all other nations, the spread would have been greatly minimised. Also, the solution better than many, is complimenting the social distancing, with many facing the same directions while addressing each other. If there should be any face to face discussion, the gap must be enough.
I think, the world should take steps not only to rebuild the damages on their own, but to invite World Bank for support by releasing adequate and deserving fund to the programme to recover from the lost achievements, and further create omitted logistics that can contain any outcome that may arise. It is not hidden that there is need for experts in formulation of policies in government from the point of view of incorporating visionary icons and research fellows to manage the institutionalised professional team and government political member players, to empower any nation to workout effective logistics.
How to easily achieve these
World Bank in its magnanimity to rebuild and make things work better, should establish the concept of monitoring and inspecting the task force put in place and monitor the monitoring officers and those monitoring from the apex authority. It should also change the operative taskforce periodically to get the best from their investment and establish the benefit of ROCE (Return On Capital Employed). This is a certified professional control measure to achieve deserved aims and objectives. Donor nations, wealthy establishments and billionaires would be given room to show love for bailout to rebuild the economies from never to be expected disaster staring us in our faces.
Among some other important solutions is to start re-planning now, and follow advanced strategies, by using medically certified means of transport to bring back the world workforce to actions. The world economy of Industrial activities and resources of all the nations should ensure and adopt industrial isolation and set up camps at selected locations. Also, for educational sectors, all should be certified virus free on regular basis. Putting the workforce in hotels or staff quarters, isolation camps and be made non virus certified. Some well-established educational and other institutions isolation provisions should be certified on regular basis. These are the fastest ways to put the economy back on track ahead recovery.
Role of WHO in economic revival
Yes, WHO has a role to play in this matter. WHO would insist now and direct that isolation centres are created. Conversion of hotels to isolation centres is a necessary action to be taken. No cross border travels should be allowed anymore. I am saddened that in all the dialogues on the Television all over the world, no nation has regretted to mention the so much evil human beings committed to their fellows for the human atrocities committed to various unknown citizens by many callous beings in many countries and to heal the wounds and amend their ways to sin no more.
In fact, that is not commendable. It is needed to be mandatory for any nation to prepare themselves and source for core professionals, visionary icons and research fellows to establish logistics for quarantine measures to take care of the economy of the nations, the citizens of the world in their nations and other things that may suffer devastation as a result of COVID-19 pandemic.
Quarantine measures should be most importantly extended to educational institutions that make up the greater percentage of the people outside their homes and families. This is why in this area, as it affects educational institutions, research fellows are very important to create the logistics so needed.
It is important in the quarantine logistics for both the workforce of industries and study groups of all big institutions, factories and industries, in the sense of keeping all safe in the activities of workers and their clientele. It is given that quarantine measures should strictly address the related areas. These could relatively and most importantly be reasoned to adopt a measure of interactive phenomenon that could be carried in between all different areas of establishment or locations through providing secured communication medium that has all the necessary precautionary measures for their clientele, families and necessary outlay in the scheme of things.
For the educational institution, it is implied that it should bring a great relief and deserving protection and confidence in safety to quarantine the student at all levels, as well as the lecturer and the auxiliary staff in time like this. It means, a more reasonable approach as it is safer to keep them intact and make available the means and ways to interact with their families to adopt the necessary measures at the given circumstances.
Government will take steps in a conclusive idea to create reservation centers equipment with logistics of quarantine’s measure for free to masses that may be in want by the reason of no shelter, no place of work and create provision for them and facilities to reach them from the point of distribution of the authorized commodities distribution approved cooperation that could serve all area of mankind to be as should worked out by the experts. Furthermore, I request strict adoption of the aforementioned brainstorming, to avoid unexpected deserter that had bewildered all nations of the world.
Other areas you have made inventions so far?
Obviously, I invented wealth planting as prelude to industrial evolution and road map to economic reform and financial solvency, which the administration of President Goodluck Jonathan introduced Sovereign Wealth Fund that yielded $1.8 billion.
I also invented the concept of power of change, the APC slogan that helped the party win the 2015 election, as published on page 20 of Sun Newspaper of July 26, 2012. Among several inventions is also the rewarding Banking and Computer 21st century today, which allows people to bank from wherever they may be, watch their transactions online as it progresses, accept or reject the transaction for business citizens, now and for children unborn, which in my workshop, seminars and lectures made waves in the 80s, as banking on logistics at the time, was yet operating on ledgers, vouchers and journals platform.
Further to the inventions are the invention of facial banking and voice banking never before all over the world.
Coming next is a new banking logistics that is about to be launched. Another celebrated invention I made is Banking and Insurance Gurantee Scheme, which was voted a better replacement by experts on banking and insurance to the national insurance cooperation options to mention a few.
