Hon. Ambassador Susan E. Rice, National Security Advisor, during a recent forum organised by the U.S. Institute of Peace to set the scene for the US-Africa Leaders Summit observed that in less than 20 years, in the space of one generation—even as major challenges remain—Africa has witnessed remarkable change.

I commend Hon. Susan Rice for the piece that was carries in The African Executive. I have known of Ms. Rice but it was not until May 29, 1999, during Nigeria President Obasanjo’s inaugural dinner in Abuja, that I met her in person. She was among the US delegation that included Rev. Jesse Jackson, then US Transportation Secretary Rodney Slater, and others. I had a conversation with Ms. Rice and during the conversation, given the commotion during the dinner as many people milled around dancing including former US UN Andrew Young, who was dancing with people following him in a circle, Hon. Rice, said the ‘event is like a zoo.’

I agreed because it was so noisy and people got in and out, as if it is an ‘Ajegunle Market’ event. That notwithstanding, Hon. Rice is a typical bureaucrat who will spin favorable US government policy statements to make everyone feel good, even as their house is on fire and crumbling. How she handled the Libya Benghazi issue that saw US Ambassador killed, including others led to her withdrawal from consideration as the next Secretary of State after Hon. Hillary Clinton.

Africa has changed and will keep changing both by design and default. What matters is the type of change. A lot of the stats put out by US government officials hardly come close to what is on the ground. The daily challenges that many Africans face are masked and couched in a manner so insulting to sensible people.

Corruption and stashing of money in foreign accounts are still something many African government officials do. The US government is yet to make a strong statement that those engaged in such practices should be banned from entering US or encourage prosecution of those involved such that when recovery is made, such money is repatriated to the national treasury of the affected country.

Let me remind Hon. Rice that in 1999, when Nigeria President Obasanjo took over, the US Dollar exchange rate to Nigeria Naira, was about $1 to N85, an equivalent of $12,500. Today, with Nigeria’s brand of democracy laden with craziness and wanton abuses, the Naira versus Dollar value has fallen such that mere $6,000 gives a Nigerian One million Dollars. Do the math, and that is a loss of more than 50% value in less than 15 years. Military rule gave Nigeria more value for its currency than a democratic rule, and The Economist made glowing observation noting the rise in Nigeria foreign reserve during Gen. Abacha’s regime.

Even with Nigeria’s foreign debts forgiven, suspended, down written, in early 2000, the Naira is having difficulty sustaining a favorable exchange rate. And consider that the even the coming in of the current Nigeria Finance Minister Mrs. Ngozi Okonjo-Iweala, a former World Banker, as messiah of some sort, the Naira has continued to fall. What has Hon. Rice got to say about that? A Nigerian who put in One Million Naira in savings account in 1999, today including earned interest has less than the principal.

How can a nation that continues to lose value of its savings be seen as doing well? Only a red-eyed government bureaucrat can tell us how rosy the ride is, even as the ride is rough and unpredictable. #Seriously!

I am not saying that Nigeria should embrace military rule, but since money is a driver of the economy, when there is a tremendous loss in value, one is prompted to ask: what is missing? The Sierra Leone currency is not even convertible such that the dollar is the preferred currency. Ghana Cedis has an exchange parity with the Dollar, but no bank in Ghana can lend $10m for a project, and if they do, the interest rate is near 40%. Go figure.

Unemployment is still a major challenge in many African nations given the fact that enough jobs are not created to absorb the teeming needs. Capacity is created and sustained when people are gainfully employed, as they contribute to their national well-being. It will serve some of these bureaucrats well to do some reading – Africa Squadron by Donald L. Canney, Station Chief: Congo by Devlin, to mention a few on US – Africa relationship that is more than 100 years old.

Africa is not a new invention and her well-being cannot be occasioned by bureaucrats who spin falsehood to make unsuspecting people feel good. In 1985, a Nigerian with One Million Naira was worth $1.7m. Today, mere $6,000 gives a Nigerian One Million Naira. Can Hon. Rice tell us why Nigeria lost so much value in nearly 30 years and how can it regain such ground?

At the time, Nigeria was seen as a rising star, because it had money and its prestige soared. But once the World Bank and her in-tow twin IMF took up devaluation in mid 80s, with structural adjustment programs - SAP, to promote export-oriented economy - Nigeria was sapped. Nigeria then a net manufacturer and producer, became a victim of undue western prescriptions, and it does not appear there is a cure is in sight. Nigeria needs to embrace whatever she was doing before mid-80s, and she does not need the approval or permission of anyone. It has to be selfish and self-entered in order to rescue herself. US can do more to promote real growth in Africa by endorsing the following:

• Grant favorable exchange rate of the Dollar to many sub-Saharan African currencies, pegging it as it did for many Middle Eastern countries. If Middle Eastern countries are not democracies and are doing well, why can’t Africa that US has compelled and cajoled into democracy as if it is panacea for economic growth, be struggling?

• Encourage local banks to lend to businesses in their country at single digit amortizing interest rates, with weighted adjustment. No nation can be seen as doing well when borrowing is limited and only foreign institutions lend and in turn repatriate all their profits including principal, strangulating the economy in the process. He/she who goes a-borrowing, also go a-sorrowing, especially if the debt is owed to foreign interests.

• Promote Whistle Blower Act likened to RICO – Racketeering Influence Corrupt Organization, whereby people in US are encouraged to report cases of illegal financial and monetary transactions of African government and public officials in US, and prosecute anyone that aids and abets such practices.

• Demand from Africa governments that for US to invest in their country, they ought to show equity and community reinvestment of their national banks in projects that creates jobs and promotes sustenance. Africa cannot borrow itself to prosperity without their skin in the game. There is need to strengthen and stabilize the currencies in these countries, better, promote common currency blocks at regional basis.

The US government should stop treating Africa like an adopted child or one who is a foster child, to be passed around and seen as unable. Above all, Africans should begin to feel insulted that everyone tells them what to do, and these people neither have superior education nor intellect except coming from a country that is considered No. 1 or western. Rise and take ownership of the challenges and turn them into opportunities.

With all due respect, there is nothing superior in the education of Hon. Susan Rice or any westerner for that matter that diminishes the education of many Africans.  One-plus-One is Two anywhere in the world. What matters, is the confidence and attitude expressing the knowledge and standing firm shoulder-to-shoulder to anyone to embrace one’s challenges with dignity and dedication. That being the case, why take lessons or lectures from anyone from the West or East for that matter?

Africa must ‘Be a Nike’ – “Just Do It”, and Do it its way: Competition recognizes competition, and that often is the game changer and equalizer. Africa can be its own referee, and shun foreign prescriptions that often have nothing to do with the illness.

Ejike E. Okpa
Dallas, Texas.