The Federal Republic of Nigeria has been through a state of turmoil, both in the aspect of security as well as the bid to build its economy; perhaps to join the developed economies, but the challenges that face the policy makers, makes it hard -not impossible- for the actualization of such dream.
The 'golden policy' is a step by step plan on how to achieve these plans starting from the grass root.
Firstly, the introduction of a 'Five hundred Naira market' by the federal government will contribute in no small measure to the development and growth of the state.
A 500 Naira market is an extensive policy which will revive our agricultural sector as well as other industries. The mechanism of this market, will depend on the federal government, the local government and finally on the entire population. The federal government will provide land -the week development centres- located in each local government and situated within the industrial areas. The products that will be sold in this market, must be locally produced goods which the government will purchase from the local producers at a high rate but will sale them at a cheaper rate.
Note importantly that this policy will start from agricultural produce which include but not limited to fruits, vegetables, animals -beef, goat meat, fishes etc- grains like local rice, beans etc also are Garri, Semo, Tuwo etc as well as other root produce. As the market develops other items will be introduced esp, goods produced from the government enclosed industries. This will be discussed below.
It is important to state at this point that nobody will b allowed to carry any of the items out from the market because the market is ment to feed the people while the 500 Naira is to the sustainabilty of the market.
The first question that comes to the mind is that 'It is another opportunity to enrich the local government chairmen". On the contrary, the budget of this market will be on monthly basis; an envoy of the federal government will be there to supervise the market while the money goes straight to the local government while the state government stands as a check to the local government. The envoy will report straight to the ministry that sent him while the state government reports to the federal government on individual basis. This will not only increase food production but will also put money in the hands of farmers, to push mechanized farming.
Secondly, the number of graduates from our high institutions out numbers the number of available jobs, yet schools still admit candidates in the fields were they are not needed. It is not wise to admit more than 100 candidates in all the departments esp accounting, sociology, philosophy, english just to mention but a few.
On the other hand, the enclosed industries will absorb the greater number of the population whom are ready to work in these industries. The government is expected to be cruelly kind in the sense that an intake will not be allowed to go out for the period of two years within which he will learn the art of producing a particular product. Precisely, the art of producing leather, shoes, shirt making, iron production, rubber making, mechanized farming etc will be thought in this institutions. Furthermore the goods produced in this institutions will be sold at the 500 Naira market, while the money made from the goods will be used to pay the industrial workers. Note importantly that the market will be located within the industry to allow the workers to eat from the market. Private investors will be allowed to take over after stabilizing the industry.
Moreover, with great consciousness of the Keyneisian theory who maintains that deregulation in developing capitalist economies can only lead to inflation, but the creation of this market will curb inflation.
In conclusion, the 500 Naira market as well as the enclosed industries, will solve the problem of unemployment, provide food for the poor, produce a strong labour force, security-social security- and it will also curb inflation.