Monday, October 11, 2010
Nigeria @ 50: Way forward
Nigeria recently budgeted seven Billion Naira for the 50th anniversary celebration. Given the way Nigeria organized past events, nobody doubts the fate of this huge amount of money with 2/3 of it ending up in private pockets.
We are presently ranked 94th in world economy (a far cry from the number 20 we aspire to be in the year 2020) but nonetheless remain number three in Africa and arguably the most important nation in West Africa with a sophisticated financial market (by regional standard) spreading its influence in the sub-region, and a population of 150 Million (world 8th) against Ghana’s 20 Million ,a GDP of $166 Billion compared to Ghana’s $14.9 Billion and a per capita income of $1,159 compared to Ghana’s $676. Again our population is ahead of Japan and Russia which gave us the largest domestic market in Africa allowing for economies of scale across the continent.
Story By Aliyu Nuh