Nigeria needs ACTIONS urgently. If 140 million are now poor, does it mean only 70m can power the nation? I call on the governments at different levels to redouble their efforts so that things can improve. Notwithstanding, the World Bank report is not hopeless if Nigeria can follow through as the bank has noted. If we do the work, many things will fall into place.
You can click to read the World Bank’s recommendations on how to destroy poverty in Nigeria. Below are mine which can dissolve all poverty in Nigeria:
Merit-based system – Nigeria needs to make merit part of its process. Without a nationally transparent merit-based system, Nigeria cannot progress.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Pragmatic Innovation – focus on what works, over the purity of scoring political goals, and ethnic devilism. If Ibom deep seaport can expand opportunities in Nigeria, fund it and push more avenues of growth beyond Lagos.
Honest Leadership – the citizens are smarter and can only take cues from their leaders. People willingly pay taxes when taxes work in their lives, they say. Honesty from leaders will release forces of growth across Nigeria.
Integrate Rural and Urban Nigeria – we need to have a functioning postal service, to bridge the huge gap between rural and urban Nigeria. As that happens, invent a locally relevant property rights regime that will unlock the wealth of rural Nigeria in our national balance sheet.
Economic Reforms Push 140m Nigerians Under Poverty Line – World Bank Report
---
Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.
What did the World Bank say that is worth working on exactly? The yammering on the usual talking points like controlling inflation, stabilizing the FX market, achieving fiscal consolidation, and addressing structural barriers to growth. These are meaningless talks, because after the sermons, those listening go home more confused than before. It’s actually a potent way of telling you to remain incapacitated anyway.
What we need now is what is working, and what is working will upend our current political leadership structure, throwing away so many confused creatures and allowing serious people to get on with business of governance. We waste so much valuable time in this country on non essentials. How does a poor man benefit from subsidy removal and floating of naira? Nobody has explained, but we somewhat want to be taken seriously.
How do we make food abundant and very cheap? How do we make energy very cheap? Who can do it and how do we get the person on the phone? We just chose to waste away here, talking and listening to nonsense.
If the basic things such as food, energy and security are still out of reach, then it makes no sense yammering on those useless terminologies nobody understands. Our case is shameful and pitiful.