What is really surprising is the way and manner global financial institutions like the IMF, WORLD BANK e.t.c.that should know better have continued to harp on this as a way to create channels of neo colonialist governmental loans that is nothing more than financial slavery well packaged to guarantee loyalty of generations yet unborn in developing and under developed markets. For Nigerian politicians who latch unto that as a means to gain some political vantage points against the government and ministers of the government, I can understand...Its normal in Nigeria politics to engage dataless posturing and verbosical nonsensicality in the name of politics.
What I cannot forgive are those economists and well trained accountants who equally quote this whenever an opportunity arises to make a statement regarding the economic fortunes of Nigeria.
The poorest Nigerian eats mama put food a day; minimum spent is usually 100 Naira. Pays house rent of minimum 1000 Naira a month which translates to 33 Naira a day, makes one minute phone call of minimum 20 Naira a day, Clothes themselve with minimum 20 Naira a day, transportation minimum 50 Naira a day.
This is excluding, NEPA, WATER BOARD, WASTE MANAGEMENT, VILLAGE MEETING CONTRIBUTIONS, CHURCH/ZAKAAT OFFERINGS, GIFTS TO FRIENDS, e.t.c.
I am really in doubt that there is any individual in Nigeria who lives on less that 1 USD a day. That postulation is simply archaic, mythical, baseless and dubiotic nonsense.
There are many reasons to believe in the future of this country:
1. Nigerian economy is really evolving in all key facets, Over 70 million active telecom lines exist today signalling that half of Nigerians are able to own a phone and recharge them.
2. Nigeria has over 100 universities and each of them have over ten thousand students meaning over 1 million nigerians are able to get a university degree every 4 years. Add that to polytechnics, colleges of Education, Montechnics e.t.c, The number should be over 10 million.
3. Agriculture is getting funding like never before. We are getting down our food import budget every year and this is a good sign for self sustainability.
4. I like the look of Nigerian airports compared to 5 years ago.
5. New Investors are funding many start ups around Nigeria, Look at the Likes of Sim Shagaya, Efosa Omogui, Tunde Kehinde, Chika Nwobi, Jason Njoku, have all raised siginificant funding from Europe, Africa and US for their Tech start ups and in just 2 years are beginning to fund other techies.
6. Oil and Gas production is steady and Dangote is planning with other private investor to start refinning all of Nigerian petroleaum needs locally.
7. 2nd Niger bridge is already inuagurated. Lagos Ibadan Express renewal is under way, Benin Ore is worl class now and 10 lanes project in Abuja completed.
8. The railway lines now function every day along Ogun-Lagos, Kaduna-Abuja axis with new rails planned from maiduguri to PH.
9. All FMCG companies in Nigeria posted profits and growth in 2013 with no single company conducting mass sack as was the case in the last 3-5 years. Whenever this sector grows, The economy is on the path to greatness even if nobody accepts.
9. Other numerous projects too many to mention on this blog for lack of time and space.
Overall, I am very bullish that Nigeria will continue on the path to growth and even be among top 30-50 economies in the world by 2020 if all of the politicians outside government can join hands with the Federal government to focus on dealing with all its challenges.
While it can and should be better than it is now, its only rationale to close by saying...So far So good.
Joseph Onuorah is happy father and husband, A grassroots mobilizer and lives in Lagos Nigeria and Tweets from @JosephOnuorah
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