Sub-Saharan Africa is experiencing economic growth of around 4.6%. Nigeria is one of those countries that is reporting GDP growth in spite of a high level of poverty. Poverty that is driven by high rates of unemployment and low wage levels. And exacerbated by poor facilities and infrastructure development across the country. However, there is growth in the services and financial sectors. There is some suggestion that there is significant growth in the agricultural sector but that is disputable given the large scale importation of food and the limited investment in farming ventures. There is no reporting of a huge rise in financing for small to medium scale farming.
The wealth gap in Nigeria remains as wide as ever; and given the growth in the economy it is most likely expanding. So some people are getting wealthier while poverty and underdevelopment continue to plague more of the country. There is very little use in railing against corruption in the country. There is very little appetite in government or big business to tackle that. But I do wonder what is happening to all the money coming from the economic growth. Chances are that it is mostly being spent on luxury and indulgence. There is a boom in high value property development that only a few can afford and often lies vacant for extended periods. A huge amount of money is expended on sending children to study abroad; a necessity given the wretched state of the local education system. A lot of wealthy people send money abroad to invest in property in countries with flatter economic growth but greater social stability.
So it turns out that rather than investing in local services and facilities (transportation, low income housing, small scale farming, manufacturing) the rich would prefer to buy luxury goods and send their wealth abroad. Is it a surprise that inefficiency, corruption and robbery are now as much a staple as strong economic growth? It is a pity that Nigerians think so little of building up the same place that they are so thankful to for enriching them.
**sigh** Papi, my husband calls Nigeria - The giant of Africa....even as a fellow African, I agree with him....buh you see, the way I see it, the country is NOT the problem...the people are...
ReplyDeletelet's look at this technically, If you take EVERYONE in the US and place them in Nigeria and then take EVERYONE in Nigeria and place them in the US....do you know that in my opinion, the US as we both know it will become 'the NEW Nigeria'....know why?...the Americans you place in Nigeria will see the problems that the country has and fix it and even better it buh you see, the Nigerians in the US would rather take advantage of the luxury and exhaust it....just think bout this for a second...
What is going on in Nigeria is also happening in my country Kenya and Uganda and Zim....name it Papi...
I really love reading your posts....anddddddd I never caught your name...Cyclone?? Is that right?
Nigeria is indeed a giant; and like all giants it is slow and destructive. What it doesn't eat up, it tramples under foot. I wholeheartedly agree with you about the people. Too many bad leaders and malleable followers mean there isn't enough commitment and willpower to turn things around.
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