Browsing: Nigeria

Nigeria could have been a rich country where no one lives in poverty and hunger. Economic inequality in Nigeria has reached extreme levels, despite being the largest economy in Africa. The country has an expanding economy with abundant human capital and the economic potential to lift millions out of poverty. But this is not happening. In fact, despite Nigeria’s  richness in solid minerals, oil and arable land, it is still poor. What a paradox!  

The zeal and focus of the current Minister of Solid Minerals, Dele Alake, as observed from his utterances, actions and body language give an impression of his determination to make a mark in the industry. Naturally, the cynical reaction will be: “Na Today?,” using a common Nigerian local refrain. Or: “Have we not seen this before?,” especially considering the actions and initial zeal  of previous ministers. 

Cameroon was the world’s most productive country in 2022 with an average employee productivity of 94.1%; while Nigeria was the third least productive country (47.7%). This was the outcome of a research carried out and published by DeskTime. As revealed in the published research work, the most productive country in Europe was Spain with average productivity of 89.8% (in 8th position globally) while the USA was the 15th most productive country in the world (87.3%). On the down side, Nigeria chose ranks with Iran (the least productive, (38.6%) and Mongolia (41.9%). No one should be surprised by this revelation; not with the kind of Nigeria’s public sector that is characterized by poor work ethics, inflated contracts, employment scams and other social ills that are now as rampant as invading locusts and grasshoppers in dried savannah.

There seems to be a transition. A metamorphosis from the quotidian loan-driven articulations to investment-tailored pursuits and commitments. Nigeria has over successive administrations hypostasised borrowing in its bucket of foreign economic interests. These borrowings have put a cosmic strain on government revenue. Nigeria’s external debt stands at over N49.85 trillion, and with about 73 percent of its earnings used for debt servicing.

With a thriving and fertile environment for extortion and racketeering, process for obtaining the Nigerian passport has turned the booklet into a hire purchase document where applicants pay official cost at point of application, connoting preliminary downpayment, and thereafter compelled to pay a bribe as balance in installments or in full, depending on the deal reached with Nigeria Immigration Service (NIS) officials involved in this underhand deed.  This is the practice nationwide.

Gerry, now the Executive Director, Global Relations Partnership and Customers Satisfaction, APS, Canada Startup Visa shared the roadmap on this during a virtual engagement with the members of the Journalists International Forum For Migration-JIFORM ahead of the body’s 4th Global Migration summit slated for Toronto between October 2-14 focusing on Climate Change, Human Mobility and Sustainable Investment.

Williams Clowes, the Bloomberg hitman on Nigeria, feels that his only journalistic obligation is to dredge up negative stories about Nigeria and Africa. In his latest drivel on Nigeria, he described Abuja Metro, the light rail line from Idu Train Station to the city centre that connects Nnamdi Azikwe International Airport, as a “public transit project to nowhere”, just because the metro stopped commercial run after initial launch.