When China was busy industrialising, creating jobs, and lifting almost one billion people out of poverty over roughly four decades—an unprecedented achievement in human history—our leaders were busy looting the country dry by stealing recklessly from the public treasury. When Nigeria was awash with oil wealth in the 1970s and early 1980s, a period during which we should have prioritised industrialisation to create jobs, diversify the economy, and earn more foreign exchange, we instead squandered and expended vast sums on frivolities amidst corruption on a gargantuan scale. A former Nigerian Head of State was famously quoted as saying that Nigeria’s problem was not money, but how to spend it.
Unfortunately, most of the industries we once had in Kano, Warri, Jos, Lagos, Kaduna, Enugu, Ibadan, and other cities have shut down due to mismanagement, corruption, erratic power supply, inconsistent government policies, and a plethora of other factors.
We can only whinge and reminisce about the past with nostalgia, but we have largely lost our developmental trajectory since the 1980s. We are still playing catch-up while countries that were once at our level—or even behind us—like Brazil, China, Singapore, Malaysia, and Taiwan have long since leapfrogged us.
Whatever someone tells you is happening in Nigeria, just believe it. This is the same country where the Almajiri Commission, charged with tackling Almajirism and boosting school enrolment, intends to spend ₦8 billion out of its ₦22 billion total budget on road construction in Ogun and Ekiti, even though there is no correlation. This is the same country where a snake swallowed millions and another monkey stole millions in a Kano zoo. This is the same country where the federal government plans to spend more than ₦20 billion to build new palaces nationwide, even though our healthcare, primary education, infrastructure, etc., in rural areas are almost non-existent. This is the same country that prefers to buy presidential jets and yachts while millions wallow in abject penury, groping for a way out to eke out a living amidst multidimensional poverty of gargantuan proportions. This is the same nation whose presidential palace is going off-grid through a ₦47 billion project, even though the vast majority of the people live in darkness.
Taiwo explains things so clearly.
The truth? the reforms have made people poorer and have not resulted in creating jobs.
May be it is too early to say, but so far, Nigerians are worse off than they were before the reforms.
Gianni Infantino's astonishing letter congratulating Argentina on finishing second at the World Cup is LEAKED as FIFA president hails Lionel Messi and Co's 'professionalism' despite thuggish post-match antics https://t.co/Paa0f6GZn4
A country with no budget implemention for complete 3 years, but some educated mórons want you to believe that it's REFORM.
As bad as Buhari, he wasn't this terribly bad.
Wahala no de finish!!
“My general assessment is that government is totally unprepared to conduct the economic reform policies they put on line. The key measures they took - the fuel subsidy removal, floating of the Naira had very severe impact on the value of our currency and on the income of every Nigerians and the net effect is a dramatic decline in the income and survival of Nigerians that brought massive suffering. They did not plan palliatives to address the suffering of majority of Nigerians. At the end of the day, my sense is that this government has been a failure. What he has planned to deliver, he has failed. As the elections are approaching, I think it’s time we have to clearly show this government that failure cannot be rewarded”
… Prof Ibrahim Jibrin
Professor of Political Science, ABU