Nigeria: Why we are where we are (1)

2 months ago 30

I love studying up on nations. Mine is a ravishing interest in stories of leaders with great visions and their countries doing exploits economically even with minimal natural resources. Moments I stumble on enamouring stories of big and small countries, a natural reflex in me immediately juxtaposes their alluring testaments with Nigeria’s undeserved and endless troubles in all endeavours.

Despite the Giant of Africa’s abundant and abounding divine endowments in human and natural resources, the country is still far away from that place in history from where milk and honey flow. Regrettably, many countries with economic success stories do not possess a third of the natural gifts Nigeria can boast of. It is why I ask this question this week: Why is Nigeria where she is as a nation?

Japan is a mountainous, volcanic island country, and the world’s fourth largest economy. It is the largest importer of coal and liquefied natural gas; and the second largest importer of crude oil. Its natural resources are fish and scanty mineral resources. Japan exports automobiles, consumer electronics, computers, semiconductors, copper, iron, and steel. This country with no drop of crude oil has exports of around $717 billion. And Nigeria has much more than Japan in resources, but no testaments of remarkable progress.

Less than 600 miles from Japan is South Korea; the world’s 13th largest economy. The World Bank once submitted that South Korea went from an African standard nation (on a par with Ghana) in the 1960s to one of the world’s leading industrial powerhouses today. Like Japan, her mineral resources are sparse. Exports are around $632 billion and highly dependent on foreign-imported materials. On the other side of South Korea is Italy; the world’s 10th largest economy and a leading industrial nation.

Natural resources here too are scanty. And Italian land is not commodious for farming. To a limited and minimal extent in this dispensation, Nigeria grows a portion of her food, but Italy cannot touch what Nigeria has touched in agricultural ‘revolution.’ The country imports most of its food, imports 99.7 per cent of its solid fuels demand, 92.5 per cent of oil, and 91.2 per cent of natural gas. Most raw materials needed for manufacturing are imported. But Italy’s total annual exports are $626 billion. Every state in Nigeria has natural resources in varying commercial quantities, but millions are still hungry and poor. Why are we where we are?

Singapore also has very few natural resources. This tiny island has become one of the world’s most prosperous and advanced economies. Singapore imports everything she needs, including water from neighbouring Malaysia. Forty-eight per cent of Singaporean exports are made up of re-exports. They import raw goods and refine them for export purposes. The tiny island produces 10 per cent of the world’s semiconductor wafer. Singapore’s exports total $638 billion. It is currently the 31st largest economy in the world. Nigeria has an overwhelming advantage to do much better than all these nations put together, but we are still stuck where we are, and we keep asking why.

Switzerland is a completely landlocked country but the natural inconvenience is not a hindrance to the nation becoming one of the world’s leading exporters. Its annual exports run to about $629 billion. Switzerland has virtually no natural resources, and its annual trade balance is usually in the red, owing to the economy’s reliance on large quantities of imported raw materials for industry. Switzerland has a very strong food processing and confectionery industry, producing multinational food companies like Nestle, and luxurious watch-manufacturing, with well-known global brands such as Rolex and Swatch. The country is the 20th largest economy in the world. In development, Nigeria is hundreds of years behind Switzerland, and with our endowment, must this be so?

Nigeria is an island of wealth, a trough of tintinnabulation treasures, a penstock of prosperousness, a depository of abundant and abounding natural resources, the home of innumerable sages, an arsenal of intellectuals, the harbour of highbrows, and a human assemblage of geeks and deft double-domes with nothing much to show for the divine bestowment. Juxtaposing Nigeria’s wealth with the prevalent extant poverty firestorm ravaging the country is a noisome paradox and a fetid contradiction.

Nigeria is the 12th largest oil producer in the world and has the 10th largest proven oil reserves. Iron ore, coal, tin, columbite, limestone, lead, zinc, gold, silver and more litter our land. Our fertile soil, forests, and water resources make it suitable for crops like cocoa, rubber, palm oil, and tropical fruits to grow in abundance. Significant deposits of uranium are found in some parts of the North and large deposits of bitumen are found in the southwestern region. Nigeria is blessed beyond measure. Unlike other nations with no incomparable profitable resources, the country’s total export for 2022 was a paltry $70 billion derived solely from crude oil and its products.

With Nigeria’s vast wealth, it shouldn’t be a sticky wicket if every Nigerian desires to drive an expensive jeep or rest their hurting bones on water beds in mansions. This should be a cinch. But an average Nigerian is not asking for too much from their government or driven by the morbid ambition of big bank accounts. They want to feed their families and desire a safe place to raise their children. Give Nigerians good roads, rebuild their run-down schools, revamp the rickety hospitals, provide regular power supply, and flood the market with enough and affordable food items, and Nigerians are satisfied. That is not too much to ask for in a country that has more than enough. But the dream of an average Nigerian to live a decent life seems far from actualisation because corruption will not allow it.

Nigeria’s natural resources have the potential to drive economic growth and development but their exploitation and management have been affected by various challenges, including corruption. The corruption carnival in Nigeria is not quieting down. The magnitude of the evil is Brobdingnagian in nature and grows with every government in power. A free-for-all fiesta of stealing among men and women with access to power now appears like the norm. Blisteringly unapologetic thieves and coddlers of blizzards of corruption are still subtly watering the ancient wall. These garroting and goading beings continue to pillage our patrimonies in a frenzy. Over 60 years after independence, corruption in Nigeria is still considered an unchangeable lifestyle. With corruption, no country has a tomorrow. It is the reason Nigerians are not getting what they must get by right. This is why we are where we are.