What's happening to the economy of Nigeria?

Jason Hamaan

What’s happening to the Nigerian economy, seems is getting worse day after day?

Inresite

If you searched the web, many experts have highlighted the failure of Nigeria being the leadership. They were not wrong because i will repeat and expand how poor leadership failed Nigeria. Never have i seen a single nation that developed today that wasn’t from the struggle of good leaders. Though the people select the leader, they didn’t put themselves there.

In Nigeria, however, the country’s unfortunate to have an evil system designed to sustain cronism and relecting evil people who had in someway destroyed Nigeria in the past, who’d stacked looted money in hidden sites and foreign countries, and be spent in politics so to return them in power, Nigerian political powers revolves around the evils.

See, you can’t solve a problem with people who had created the problem because they’ll least sustained the problem or worsen the problem, as the problem is meant to be problem, and to profit those who created the problem .

Now, how do you resolve a problem when people who’d created the problem are still in power position, sustaining and gaining from the problem?

We recall when the mighty British empire colonized America, and large piece of American land were shared within few members of British aristocrats, and heavy taxes were imposed on producers and peasants, what comes after? There’s a tea party, a revolutionary party. The tea party became an unstopable revolutionary movement which lead to American revolutionary war. The outcome? Independent American.

And now the most important question is, who were the members of the tea part? Certainly, they were not supporters of British rule nor were they members of the British aristocrats who gained from the evil rule, but were people who felt tired, who wanted freedom, people who, with all costs, opposed the evil rule.

Halima Onotu

Jason Hamaan I’m a Nigerian, I’m most deserving to answer this question.

The problem happening to Nigeria’s economy is a complex one that has year long being accumulated. While i agreed with Jason Hamaan comment on poor leadership, there are more failures in Nigeria than leadership.

Many economic experts around the world have emphasized on the poor financial education we experiencing globally. In Nigeria, is worse; While in other countries especially the western countries you’ll few people with high level of financial education who go on and write books, make web publications so to reducate the masses, we, in Nigeria, had zero financial education from top to down.

Don’t get me wrong, i don’t talk about financial education taught in schools by school teachers, those are fake financial education and educators. I mean financial education taught by real teachers, teachers who does what they say; I mean financial education taught by successful entrepreneurs and investors.

It’s no surprise, 99.8% of Nigerians are illitrates on how money is made. They go to school, acquired degrees and work for people or government. The secret of how money is made, they don’t learn in schools.

There is this famous quote from John Rockefeller, the American-german jew, an oil mogule, one of the pioneer of modern system of education who once said:

We are raising a nation of workers not a nation of thinkers"

Did you know what he means by “Nation of thinkers” he means a nation of entrepreneurs who know how money is made NOT “ Nation of workers” of people who only know how to work for people who knew how money is made.

The Nigerian school system not only is it obsolete dated back to, 17th century industrial age, but it’s designed to erase how money is made so the system can and will forever produce workers with poor financial education for the thinkers, the entrepreneurs.

So what’s the resolution to Nigerian Poor financial education?

To resolve Nigerian economic problem caused by poor financial education, Nigerians must Understand between real teachers and fake teachers. And learn from real teachers who do what they say and are already at financial position where you hope to be.

The poor financial education in Nigeria will resolve when Nigeria learn from successful business entrepreneurs and investors. Read self-help financial books written by successful business owners and investors. NOT books written by school teachers.

Mario Bros Italiano

Jason Hamaan I once travelled to coastal states in Nigeria i was shocked to see how gas was flare to the atmosphere. I asked one of my Nigerian buddy that how long was the gas flaring, and he said since pre-independence. I and was like OMG!

This is where the point of waste come.

I think Nigerian independent was in 1960, calculate how long was the gas flaring. Not only did Nigerians lose lots of revenue, had been the gas was piped throughout the country, and sold to domestic and foreign manufacturers that could’ve boosted Nigerian economy, but also cause environmental issues like air pollution amd global warming. Not to talk of the health issues that’d arisen from inhaling polluted air all these add to extra expenses to the nation budget.

Some stereotypical qualification of a nation are somewhat true. Nigeria is a shitty nation!💩

Admin

Jason Hamaan how can Nigeria’s economic develop when Nigerians are constantly indulging in what i see as high level of resource exhaustion.

No matter how much you earn, no matter how young and powerful you are, if you only exhaust, you heading towards zero. Nigerians love exhausting the only available resources.

When i mentioned exhaustion, I’m talking about both money and time exhaustion.

See, I’m not saying you shouldn’t enjoy. What I’m saying is, you should be responsible to invest and wait after investment yeilds before you take little for your joy. Does not make any sense exhausting before investing!

Another kind of exhaustion i observed among Nigerians is time. Time is the most valuable resource human ever had, and it keep going non-stop. Nigerians especially the youths love consuming much time in every bit of entertainment (sport games, movies, music, tictoking, virtual gaming, gambling, clubing, unhealthy relationships..to name a few), to the extent where if they aren’t doing the real thing, they are keenly following the new trends as though they were being paid to do so, and celebrate their wins regardless whether they lose money or not. For instance a Nigerian may take long hours scrolling through the feeds of his/her favorite celebrity. How thoughtless are Nigerians seeing youths of same age as you in other countries making money out of you. Why can’t you find ways to win as they are winning?!

How to resolve the habit of exhaustion?

Exhaustion is a common bad habits among Nigerians. Bad habits can be cut off with discipline. Rather indulging in exhaustion, Nigerians especially the youths should train themselves in using their time in learning valuable knowledges from books, webpages or internet videos, and learn to invest their money in domestic and foreign businesses. I think that way will change the lives of Nigerians and the country for the better,

Mario Bros Italiano

Inresite ✔correct! Leadership is the number one problem of Nigeria.

Abdulfattah Ogirima Yusuf

The economic problem in Nigeria doesn’t start today as Halima commented. It started immediately after Nigerian independent. The wreckage of Nigerian economic structure today is the outcome of long wrecking with no heed of the negative effect, and the failure to take necessarily drastic actions to rebuilding what have been wrecked. Now, it seems as though impossible to rebuild Nigeria.

In the mosques, in churches, in gardered places, you find Nigerians asking hopelessly: can Nigeria’s economic problems be resolved?

Yes, only if Nigerians are willing to resolve it. Countries which once in economic stagnant even worse have successfully resolved their problems without whining nor pointing fingers. Why did i mention whining and pointing fingers? Because Nigerians are fond of these negative habits especially when problem seems beyond their intellectual power .

The first step towards resolving any problems, is to acknowledge the problem. In case you reading this, are fortunate to be in position of power, and you long for positive change, we would like you read through comments of real sages as they highlight key problems in Nigerian economy, and how these problems be resolved. Read through the comments of Mario Bros Italiano and Halima Onotu.