October 03 2024 | State Media Nigeria, the most populous country in Africa and the largest economy on the continent, is an important centr...
October 03 2024 | State Media
Nigeria, the most populous country in Africa and the largest economy on the continent, is an important centre of economic and political development in Africa. This country is characterized by enormous natural wealth and great human wealth, which makes it a major focus of investment opportunities and economic growth. The Nigerian economy has a great potential for diversification thanks to its rich resources in sectors such as oil and gas, agriculture, and mining.
However, the path of development in Nigeria is full of challenges and obstacles hindering its progress. The country is facing deep structural problems that require radical and sustainable solutions. Among these challenges;
Corruption: corruption emerges as one of the most prominent obstacles, as it hinders the optimal use of resources and undermines citizens' trust in the government. Many a times the politicians have been exposed in looting of the commonwealth in billions of dollars and pounds. They have been caught in money laundering and rigging themselves in elections. No election in Nigeria has been marked free and fair due to corruption. The corrupt politicians have remained and died in offices with no legacy.
Lack of infrastructure is related to corruption: basic infrastructure is the cornerstone of any sustainable economic development. Nigeria has weak transport, electricity and water supply networks, which increases the cost of economic operations and limits the effectiveness of investments. The education and health sectors also need fundamental reforms to ensure the qualification of the workforce and the provision of an appropriate health environment that contributes to achieving comprehensive human development.
Natural resources: Nigeria possesses huge reserves of natural resources, especially oil and gas. These resources are a major source of national income and have the potential to finance large-scale development projects. Oil accounts for about 90% of export revenues and over 70% of government revenues, making it a mainstay of the Nigerian economy.
Besides oil, Nigeria has large reserves of minerals such as tin, coal, iron, and gold, which can enhance the diversification of the economy and reduce excessive dependence on the oil sector. In addition, Nigeria is one of the largest agricultural countries in Africa, where fertile agricultural lands provide abundant production of crops such as cocoa, rubber, peanuts, palm oil. This diversity of natural resources can be a powerful base for diversifying the economy and promoting sustainable growth.
Youth and demographic growth: Nigeria have a young population structure, with young people making up the majority of the population. About 60% of Nigeria’s population is under the age of 25, providing a large and growing workforce that can contribute significantly to economic development. If this workforce is properly exploited through education, vocational training and job creation, it can be a powerful engine of economic growth but sadly corruption has destroyed every sector of the economy.
Security concerns and instability: Nigeria suffers from multiple security problems, including terrorism in the north of the country, ethnic and religious conflicts. These conflicts lead to instability and hinder economic and social development. The terrorist group Boko Haram in North-eastern Nigeria is a major source of violence and instability, affecting the lives of millions of residents and leading to large-scale internal displacement.
In addition, the Niger delta regions are experiencing unrest caused by disputes over the distribution of oil revenues, which further complicates the security landscape. In the southeast region of Nigeria, the indigenous people of Biafra are seeking for self-determination. They are asking for a referendum to exit from Nigeria.
Referendum a solution: these turbulent security challenges that escalates crisis every now and then can be related to the diverse ethnic, religious, as well as cultural norms that continues to clash. This threat, also poses an additional barrier to achieving stability and growth. A nation with over 350 tribes and 250 ethnic groups can never work in unity.
More so, each region with her diverse opinions and beliefs. This makes trust a far commodity. Nigeria must accept the cry of disintegration by her citizens. A people with similar religion and culture should be allowed to have a sovereign state through a referendum. A demand for self-determination is not a demand for war. It is enshrined in the U.N charter of which Nigeria is signatory to. Biafra the South-east region of Nigeria has lost over 7 million people for demanding for a referendum to exit from Nigeria.
Disintegration a solution: since over six decades of Nigeria independence, there has been endless reasons why the cry of the people to have a sovereign state with people they share common value with. Let the Moslem in the North be allowed to have a country of their own Where they can freely practice their fate. Let the Christians in the southeast be allowed to live with people of same faith and value system in a sovereign state of Biafra.
Let the southwest Yoruba region be allowed to have their sanity with people they share same norms with. The international body must attend to this quest. Especially the U.N. Until this situation is attended to, the deplorable state of Nigeria will only worsen.
Written by:
Chimdi Ibe
For: Biafra State Media
Edited by:
Obiageli Mboma
For: Biafra State Media
Published by:
Chibuike Nebeokike
For: Biafra State Media
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