Let me tell you about one 'uncompleted project' that APC has not touched and will not touch. It's called pension reform. This chart from PwC is a good summary of how Nigeria got to this point 
The big event was in 2004. Quite a transformational event. From practically zero, Nigeria created a self sustaining pensions industry that has been growing since. In 2007, pension assets were just over N800bn. As of this year, they have hit around N8trn
Initially, workers and employers were to contribute 7.5% each. Ten years later in 2014, this was increased to 8% for employees and 10% for employers. New businesses that did not previously exist were created. But...they were all in the private sector
The thing with pensions is that the work is never finished. You have to continue reforming. When you look at the growth rate for Nigeria, it has slowed down - both in terms of the value of assets and the number of people covered. That is a signal for more reforms
The next challenge is to bring in more people into the system, for govt to play its part with additional reforms and making its own contributions and generally making it easier for the industry to grow - eg you have to find a way of bringing in people who don't wear a tie to work
But since APC came into office, the only thing I've heard about pensions is quarrel over appointment of PenCom DG and whispers about government raiding pension assets for one thing or the other. Not a word about growing the industry
These guys hate the private sector. They do not want it, they do not like it. If the pension reform of 2004 had been government led and owned, for sure you will be seeing hashtags #PMBReformsAbandonedPensions
The pensions reform of 2004 empowered the private sector and created a new industry. It left government to play the role of referee. Buhari and co do not like stuff like that. They like government control so that they can score points by paying some 'abandoned pensioners'
Remember that this same government that is trending #PMBPaysPensions stopped making pensions contributions for its own workers for almost a year. It did not comply with the pension reform act of 2014 that increased its contribution to 10% saharareporters.com/2017/06/28/fed…
Just like they don't announce on the news that a plane successfully landed at the airport, no one is going to congratulate you for complying with your own law. Yet, that's what will prevent problems in the future - making contributions now to be invested
I saw a stat (can't find it again) - in the US, around 80% of what is eventually paid out to retirees comes from investment returns. The actual contributions by workers and employers was less than 20%. Contributions NOW will allow the money grow for the future and less wahala
But they hate the private sector and don't understand growth. Instead we are shown photos of someone sorting through old documents to pay pensions. Ok, that's fine. But if you're not making contributions now, than you're just being hypocritical. The future will be the same
So since the current debate is about initiation and completion of projects, please beg APC to finish this reform project that PDP left behind. Otherwise more people will be lining up for their pensions in future.
But for now, #PMBPaysPensions #SaiBaba
But for now, #PMBPaysPensions #SaiBaba
