In 2001 the world began talking about the Bric countries - Brazil, Russia, India and China - as potential powerhouses of the world economy. The term was coined by economist Jim O'Neill, who has now identified the "Mint" countries - Mexico, Indonesia, Nigeria and Turkey - as emerging economic giants. Here he explains why.

So what is it about the so-called Mint countries that makes them so special? Why these four countries?

A friend who has followed the Bric story noted sardonically that they are probably "fresher" than the Brics. What they really share beyond having a lot of people, is that at least for the next 20 years, they have really good "inner" demographics - they are all going to see a rise in the number of people eligible to work relative to those not working.

This is the envy of many developed countries but also two of the Bric countries, China and Russia. So, if Mexico, Indonesia, Nigeria and Turkey get their act together, some of them could match Chinese-style double-digit rates between 2003 and 2008.


Something else three of them share, which Mexican Foreign Minister Jose Antonio Meade Kuribrena pointed out to me, is that they all have geographical positions that should be an advantage as patterns of world trade change.
Continue reading the main story
Find out more
Listen to the first episode of MINT: The Next Economic Giants on BBC Radio 4 on Monday 6 January from 09:00 GMT
MINT: The next economic giants

For example, Mexico is next door to the US, but also Latin America. Indonesia is in the heart of South-east Asia but also has deep connections with China.

And as we all know, Turkey is in both the West and East. Nigeria is not really similar in this regard for now, partly because of Africa's lack of development, but it could be in the future if African countries stop fighting and trade with each other.

This might in fact be the basis for the Mint countries developing their own economic-political club just as the Bric countries did - one of the biggest surprises of the whole Bric thing for me. I can smell the possibility of a Mint club already.

What I also realised after talking to Meade Kuribrena, is that the creation of the Mint acronym could spur pressure for Nigeria to become a member of the G20, as the other Mints already are.

This was something the charismatic Nigerian finance minister, Ngozi Okonjo-Iweala was keen to talk about: "We know our time will come," she said. "We think they are missing something by not having us."

Meade Kuribrena went so far as to suggest that, as a group of four countries, the Mints have more in common than the Brics. I am not sure about that, but it is an interesting idea.

Economically three of them - Mexico, Indonesia and Nigeria - are commodity producers and only Turkey isn't. This contrasts with the Bric countries where two - Brazil and Russia - are commodity producers and the other two - China and India - aren't.

In terms of wealth, Mexico and Turkey are at about the same level, earning annually about $10,000 (£6,100) per head. This compares with $3,500 (£2,100) per head in Indonesia and $1,500 (£900) per head in Nigeria, which is on a par with India. They are a bit behind Russia - $14,000 (£8,500) per head - and Brazil on $11,300 (£6,800), but still a bit ahead of China - $6,000 (£3,600).Projected growth in average income (thousands $)
2000 2012 2050 (projected)

Mexico
7.0
10.6
48.0

Indonesia
0.8
3.6
21.0

Nigeria
0.2
1.4
12.6

Turkey
4.1
10.6
48.5

Sources: IMF, Goldman Sachs


A big question that guided my thinking on visits to these countries for the BBC was - "How do these countries actually feel on the ground, compared to my own expectations and the general consensus of opinion?"

When expectations are low - as one might generally say about Nigeria for example (although not in recent years among specialist investors in Africa) - it is easier to be positively surprised.

But the opposite is also true - and this could be a problem for Mexico, which financial investors are really quite excited about.

Mexico owes much of its rising wealth to the oil which it sits on, especially offshore oil

I returned from my travels thinking it won't be so difficult for Nigeria and Turkey to positively surprise people, as many put far too much weight on the negative issues that are well-known - crime and corruption in Nigeria, for example, or heavy-handed government in Turkey.

Indonesia, I am less sure about. The country's challenges are as big as I thought and I didn't hear too many things that made me go "Wow" in terms of trying to deal with them. The country needs more of a sense of commercial purpose beyond commodities, and has to improve its infrastructure.

In Turkey, visits to white goods manufacturer Beko and Turkish Airlines, the world's fastest growing airline, definitely made me go "Wow", and in Nigeria, I was saying it all the time.

Turkish Airlines: The world's fastest-growing airline

The creativity in that place is so easy to get enthused about, at least it was for me, and I returned full of excitement about different personal investments I might follow up on.

In Mexico I was all set to be disappointed, as expectations are so high, but the young president and his equally young colleagues are full of determination to change the place.

If you thought Maggie Thatcher stood for serious reforms, these guys make her seem like a kitten. They are reforming everything from education, energy and fiscal policy to the institution of government itself.

What about all the challenges and things that usually scare people? Well corruption is obviously one topic that all four would seem to share, and I had many interesting discussions about it in each country.

In Nigeria, Central Bank Governor Lamido Sanusi argued that corruption rarely prevents economic development - and that the growth of the economy, accompanied by improvements in education, will lead to better governance and greater transparency.

Such views are important to listen to, as an alternative to our often simplistic Western way of thinking. For many credible people in the Mint countries, corruption is a consequence of their weak past, not a cause of a weak future, and certainly not the number one challenge. It falls way down a list compared with the costs of energy and the breadth of its availability and, of course, infrastructure.

Generators are much in demand in Lagos

Sorting out energy policy was seen in both Mexico and Nigeria as a top priority and each country has launched a major initiatives this year, which if implemented, will accelerate growth rates significantly.

Here is an amazing statistic. About 170 million people in Nigeria share about the same amount of power that is used by about 1.5 million people in the UK. Almost every business has to generate its own power. The costs are enormous.

"Can you imagine, can you believe, that this country has been growing at 7% with no power, with zero power? It's a joke." says Africa's richest man, Aliko Dangote.

Continue reading the main story
More from BBC News
What kind of superpower could China be?
Nigeria could be the next Bric
Mexico approves energy bill

He's right. I reckon Nigeria could grow at 10-12% by sorting out this problem alone. That would double the size of its economy in six or seven years.

In Indonesia, the fourth largest country in the world, I would say leadership and infrastructure are the major challenges, though there are many more too. But challenges and opportunities sit side by side.

In one of Jakarta's slum areas, Pluit, the land is sinking by 20cm per year because of over-extraction of water, but property prices elsewhere in the city are rocketing.

I talked to a man building the country's first Ikea store, who reckons a third of greater Jakarta's population of 28 million (the third biggest conurbation in the world) would have sufficient disposable income to shop at his store. As he said: "We just know it's going to work."

In Turkey of course, its politics and the combination of a Muslim faith with some kind of desire to do things the Western way is a unique sort of challenge. Some might argue the same challenge exists for Indonesia but I returned thinking this was not the case. In Jakarta at least, the Western way of doing things seems to be generally accepted - in striking contrast with Turkey.

So can the Mints join the top 10 largest economies in the world, after the US, China, the rest of the Brics and maybe Japan?

I think so, though it may take 30 years.

I look forward to going back to each of them more regularly now I am helping to put them on the map, just as happened with the Bric countries 12 years ago.

[url]For Brown SAUCE please click Here[/url]
http://www.bbc.co.uk/news/magazine-25548060

One reason We need to get rid of GEJ come 2015! Nigeria cannot afford to be left behind. We missed out on the BRICS, now there is the oppourtunity to join the MINT, if not nah TOM TOM we go later join

Omo_Tier1: One reason We need to get rid of GEJ come 2015! Nigeria cannot afford to be left behind. We missed out on the BRICS, now there is the oppourtunity to join the MINT, if not nah TOM TOM we go later join

You were never considered as a BRICS Nation in 2001. You cannot miss out of something, you had no chance getting into. Why is Nigeria considered as a MINT NATION today, If not for the economic performance under Jonah.

It is really a no brainer that Nigeria is capable of growing in double digits for the next decade with real development that would affect the lives of the ordinary Nigerians.

The potentials abound, in people, natural resources, and market. However, with a LOOTOCRAT like GEJ in power, it will be a long pipe dream for Nigeria and Nigerians to attain her rightful place development wise.

atlwireles:

You were never considered as a BRICS Nation in 2001. You cannot miss out of something, you had no chance getting into. Why is Nigeria considered as a MINT NATION today, If not for the economic performance under Jonah.

Sorry, contrary to what you claimed, Nigeria was considered as part of the BRICS, and She was still be considered way back in 2005 when our GDP growth figure were nearing double digits. Since your ogogoro master took over, not a single economic block has looked our way!

Ever wonder, all the trips GEJ made to Brazil, there is not one single economic deal that has resulted from those trips. That should tell you what these countries currently think about His administration.

Omo_Tier1: It is really a no brainer that Nigeria is capable of growing in double digits for the next decade with real development that would affect the lives of the ordinary Nigerians.

The potentials abound, in people, natural resources, and market. However, with a LOOTOCRAT like GEJ in power, it will be a long pipe dream for Nigeria and Nigerians to attain her rightful place development wise.

You have started with your noise again. Why has Nigeria missed your so called double digit growth before The LOOTOCRATS have a new home to perfect their take over plans. Just ask your APC bedfellows, how man billions they looted in the last 53 years.

[quote author=Omo_Tier1]

Omo_Tier1:

Sorry, contrary to what you claimed, Nigeria was considered as part of the BRICS, and She was still be considered way back in 2005 when our GDP growth figure were nearing double digits. Since your ogogoro master took over, not a single economic block has looked our way!

Ever wonder, all the trips GEJ made to Brazil, there is not one single economic deal that has resulted from those trips. That should tell you what these countries currently think about His administration.

Tell us what happened in 2005, why you missed out of BRICS or was Jonah president then? The Ogogoro man got us into MINT, that says alot, I hope you drink what the man is drinking.

atlwireles:

Tell us what happened in 2005, why you missed out of BRICS or was Jonah president then? The Ogogoro man got us into MINT, that says alot, I hope you drink what the man is drinking.

Do you even know what conditions a nation is suppose to meet or the economic growth threshold for it to be considered as a member of an economic block like BRICS?

First go educate yourself before you come here and spew rubbish

FYI, the LOOTOCRAT GEJ did not get us into MINT, Nigeria economy is only surviving because of the reforms put in place at the early part of Obasanjo's second term.

Omo_Tier1:
Do you even know what conditions a nation is suppose to meet or the economic growth threshold for ti to be considered as a member of an economic block like BRICS?

First go educate yourself before you come here and spew rubbish

You are the master of empty chest beating and nonsense on this forum. Tell us why Nigeria missed out of BRICS in 2005. Shebi the ogogoro man Jonah was still in his village and your Ota god was president. How come Nigeria is now included among the mint Nations

Omo_Tier1:

FYI, the LOOTOCRAT GEJ did not get us into MINT, Nigeria economy is only surviving because of the reforms put in place at the early part of Obasanjo's second term.

Please name those reforms, you are such a pathetic liar.

atlwireles:

You are the master of empty chest beating and nonsense on this forum. Tell us why Nigeria missed out of BRICS in 2005. Shebi the ogogoro man Jonah was still in his village and your Ota god was president. How come Nigeria is now included among the mint Nations

If only you knew anything about BRICS, and the condition to be a member, you would not even ask such a st.upid question about why Nigeria did not join BRICS in 2005.

By forecast, by 2012, Nigeria should have replaced South Africa in that group based purely on double digit economic growth and development that would have forced the hands of majority of the investors to troop to Nigeria for investment, rather than the selective hogwash we are currently witnessing.

Omo_Tier1:

If only you knew anything about BRICS, and the condition to be a member, you would not even ask such a st.upid question about why Nigeria did not join BRICS in 2005.

By forecast, by 2012, Nigeria should have replaced South Africa in that group based purely on double digit economic growth and development that would have forced the hands of majority of the investors to troop to Nigeria for investment, rather than the selective hogwash we are currently witnessing.

I will strip you naked here again, explain to us why after 6 years in office in 2005 your Ota god failed to deliver the requirement for BRICS. After 3 years the Ogogoro man Jonah, made it in MINT.

Omo_Tier1:

If only you knew anything about BRICS, and the condition to be a member, you would not even ask such a st.upid question about why Nigeria did not join BRICS in 2005.

By forecast, by 2012, Nigeria should have replaced South Africa in that group based purely on double digit economic growth and development that would have forced the hands of majority of the investors to troop to Nigeria for investment, rather than the selective hogwash we are currently witnessing.

Your bullshit will not fly here today. Provide answers and stop your rantings

Let us in our little corner as much as we can do the right thing.

atlwireles:

Please name those reforms, you are such a pathetic liar.

I know peeps like you were still running around with holes in their pants in the village when Obasanjo's regime rolled out short and medium term reforms that made Nigeria economy not to collapse soonest.

1. Banking Sector reforms which brought Nigeria banks from obscurity to regional heavyweights in less than a decade, and propped the economy at the very crucial time

2. Civil Service reforms

3. Trade liberalization

4. Enactment of several civil ACTs that entrenched democratic values and gave international communities the believe that Nigeria was worth investing.

5. Reformation, restructuring and democratization of the Nigeria Military.

6. Telecommunication reforms that saw mobile phones grow from 300,000 lines to over 100 millions. This singular reform brought millions out of poverty in Nigeria and help so many to be self sustaining.

7. Privatization ACTs

I can go on and on... however, in the case of the LOOTOCRAT GEJ, I can count the sands in the seas, yet you wont be able to mention one reform His government has initiated.

[s]

Omo_Tier1:
I know peeps like you were still running around with holes in their pants in the village when Obasanjo's regime rolled out short and medium term reforms that made Nigeria economy not to collapse soonest.

1. Banking Sector reforms which brought Nigeria banks from obscurity to regional heavyweights in less than a decade, and propped the economy at the very crucial time

2. Civil Service reforms

3. Trade liberalization

4. Enactment of several civil ACTs that entrenched democratic values and gave international communities the believe that Nigeria was worth investing.

5. Reformation, restructuring and democratization of the Nigeria Military.

6. Telecommunication reforms that saw mobile phones grow from 300,000 lines to over 100 millions. This singular reform brought millions out of poverty in Nigeria and help so many to be self sustaining.

7. Privatization ACTs

I can go on and on... however, in the case of the LOOTOCRAT GEJ, I can count the sands in the seas, yet you wont be able to mention one reform His government has initiated.

[/s]

OMO _Tier just as I told you on the Edo/Delta thread, you are a waste of time.

atlwireles:

You are the master of empty chest beating and nonsense on this forum. Tell us why Nigeria missed out of BRICS in 2005. Shebi the ogogoro man Jonah was still in his village and your Ota god was president. How come Nigeria is now included among the mint Nations

Nigeria was never meant to be part of BRIC(S) in the first place. Jim O'Neill was just looking for an emerging country in Africa, to complete his forecast, and Nigeria was cited because of its huge young population and huge potentials. However, after thoroughly evaluating the anomaly in Nigeria's economic base and tempting but lousy economy, over a period of time - the country was discarded for a more stable South Africa.

Omo_Tier1:
Do you even know what conditions a nation is suppose to meet or the economic growth threshold for it to be considered as a member of an economic block like BRICS?

First go educate yourself before you come here and spew rubbish

FYI, the LOOTOCRAT GEJ did not get us into MINT, Nigeria economy is only surviving because of the reforms put in place at the early part of Obasanjo's second term.

Thunder fire you there.
Name the economic policies put in place by Obasanjo's administration.
Did he construct any international airport?
Did he improve the value of the Naira?
Did our power supply fare better then?
And the list goes on.
Mind you, OBJ did nothing, economic-wise even when Nigeria was terror free in his tenure.
But as terrific as Nigeria is now, there is still progress in GEJ's tenure.
Reply me!

atlwireles:

I will strip you naked here again, explain to us why after 6 years in office in 2005 your Ota god failed to deliver the requirement for BRICS. After 3 years the Ogogoro man Jonah, made it in MINT.

Your LOOTOCRAT and criminal GEJ has done nothing for Nigeria that made Her to be considered worthy of forming the next economic block. Obasanjo's NEEDS 1 and NEEDS 2 were the train what were carefully designed such that by 2012, Nigeria would be reckon with as an economic hub.

Nigeria was not in anyway ripe for BRICS in 2005 as she needed to enact more reforms, stabilize her economic growth and more importantly, have a stable government before she would even be considered.

One of the most important factor for a country to be considered is INDUSTRIALIZATION and a DEVELOPING ECONOMY, and unfortunately, in 2005, Nigeria was just about putting in place all the necessary tools to get the nation into self INDUSTRIALIZATION with economic diversification.

shymexx:

Nigeria was never meant to be part of BRIC(S) in the first place. Jim O'Neill was just looking for an emerging country in Africa, to complete his forecast, and Nigeria was cited because of its huge young population and huge potentials. However, after thoroughly evaluating the anomaly in Nigeria's economic base and tempting but lousy economy, over a period of time - the country was discarded for a more stable South Africa.

Tell that to OMO TIER 1

Omo_Tier1:
Do you even know what conditions a nation is suppose to meet or the economic growth threshold for it to be considered as a member of an economic block like BRICS?

First go educate yourself before you come here and spew rubbish

FYI, the LOOTOCRAT GEJ did not get us into MINT, Nigeria economy is only surviving because of the reforms put in place at the early part of Obasanjo's second term.

@Omo, I would think I know you here and you know that element that is trying to knock you off your stride on this thread, IGNORE HIM!

Your point is so spot on, my opinion was in line with what you espoused even before I was halfway reading the article and we have no ideas how buzz like these can easily be a good wind in the sail of any conscious and progressive people who can read and act on the signs of the times! I could not agree more, it is in times like these that you need one good leader, to come up with several excellent lieutenants to help put Nigeria well over the top, to the point where we would no longer be worried about one step forward, five backward! That is exactly why Nigerians, generally, are poor in spite of all the economic numbers and the ordinary person still cannot feel the financial progress of the country! I live outside Nigeria, work here but I still have to send money to people in Nigeria, why? Because whatever prosperity that is on ground is not sufficient, does not go round, productivity is low because unemployment is high and unemployment is high because the productivity (hand, brains, industrialization, etc) are all low. Like you surmised, this is ANOTHER BIG REASON this CORRUPT GEJ government must be removed before it bankrupts this country and make the country miss out on its world acknowledged greatness!

In the article, a good point of fixing power will guarantee almost a double digit growth and that makes a lot of sense! Why? Because if Nigeria is still able to survive and do this well at 7% growth with all the power problem, imagine when power is solved!? But again that is still less than half of the story, imagine when the power problem is solved AND CORRUPTION IS DEALT a COMPLETELY FATAL BLOW with bold political action by a government with the political will and immediate desire to punish corruption whoever it is, immediately, even by death? This is very doable! In my society, there's so much order, it is almost ridiculous to think Nigerians live the way they do but the big difference is there are laws here that will take immediate effect as soon as you flout them! Parking in a wrong place for even 5 minutes could cost you more than 1 hour of wage, where you could buy a parking permit say for $ 2 but now you're on the hook for $60 or more! If you don't pay up, you will get letters and still if you don't, you will never be able to renew your license the next time it has to be renewed! To not renew your licenses and you drive is guarantee that the cops will pull you over right on the road because they can know cars that are not registered on the spot by looking at the plate numbers automatically. My point? Nigeria needs to come down so hard on corruption to completely eradicate it!

Imagine what the country would look like if there is an absolute guarantee that everyone will be fed 3 X a day with good food, not garri or scrap, will get a job (because wasted money is now channelled to industrial construction projects and farms), social security and welfare, education, a conscious and consistent awareness program of corruption telling the stories of how countries like China rose from a backward country to the country it is today in less than 50 years! During WW 2, China was still easy pickings for Japan but today Japan will NEVER try what it did then. Imagine if all the N 300 B lost to oil bunkering is devoted to building roads alone all across the country 4, 5 lane roads employing people educated or not but trained and MUST do the work and be paid enough to feed themselves and their families? Any corrupt leader or persons found to be corrupt or engaging in bribery will suffer the highest punishment of life in imprisonment or death and letting the people know they have a choice! What you need is enough food, clothes and a house to stay! To get all those, all you need is a JOB which is now in abundance because jobs can be created with 300 B per month, not to talk of that spent by Jonathan on 11 aircrafts, N 1 B for his own family feeding, security votes, etc.

Can any party capitalize on these kind of news and tell the people of Nigeria to save themselves and their children? What is the advantage of having a corrupt GEJ government because he is your tribesman while you remain hungry and jobless? If when he leaves, what will you eat then when you can now demand action, with clear requirements from what you want from the government? This is when Nigerians have a big leverage and I expect them to use it with the new party APC. Tell them in clear terms, they will have only one shot to begin to turn you to see their position by showing far more care and concern about you the ordinary average Nigerian by working on the issues that interest you economically and be far ahead before the next election! GEJ must GO, a failing student by 3rd year will never produce any outstanding result in the 4th YEAR because he just is not made of excellence: GEJ is the stuff of failure as far as leadership goes and Nigeria should kick him out now before he brings poverty, violence and war to your people and children!

atlwireles: OMO _Tier just as I told you on the Edo/Delta thread, you are a waste of time.

This is not about PIG farming, you disgruntled element. I am sure that thread has exposed the fraud your Uduaghan is. I still have more pictures to post to show you what good governance is, if Seun would not ban my handle like He did on Saturday

Omo_Tier1:
Your LOOTOCRAT and criminal GEJ has done nothing for Nigeria that made Her to be considered worthy of forming the next economic block. Obasanjo's NEEDS 1 and NEEDS 2 were the train what were carefully designed such that by 2012, Nigeria would be reckon with as an economic hub.

Nigeria was not in anyway ripe for BRICS in 2005 as she needed to enact more reforms, stabilize her economic growth and more importantly, have a stable government before she would even be considered.

One of the most important factor for a country to be considered is INDUSTRIALIZATION and a DEVELOPING ECONOMY, and unfortunately, in 2005, Nigeria was just about putting in place all the necessary tools to get the nation into self INDUSTRIALIZATION with economic diversification.

Are you really typing this crap or you are high on some cheap Igbo

I'm a tad bit skeptical about this MINT thing by Jim O'Neill again. I believe he means well and Nigeria has so much potentials, however, sometimes we have to be realistic and not let the need to always look objective towards Africa give people false hopes. If we compare Nigeria with the other three countries that make-up the acronym - we would find out that Nigeria sure has the best potentials (on paper) among the lot. The biggest and ever growing economy in Africa. Huge young and vibrant population. And massive resources.

However, the challenges are too enormous to keep the bubble afloat for too long. The country is rife with corruption. No base for the huge economy and I dare say the Nigerian economy would crash with the smallest capital flight. No infrastructures. Lack of investments in the massive young population. Inability to diversify the economy. No middle class (the middle class keeps the economy afloat) etc.. The challenges are just too much.

There are so many skeptics about Nigeria already. And I'm sorry, Jim O'Neill is a good man, but I would have to go with the skeptics unless something is done.

Omo_Tier1:
This is not about PIG farming, you disgruntled element. I am sure that thread has exposed the fraud your Uduaghan is. I still have more pictures to post to show you what good governance is, if Seun would not ban my handle like He did on Saturday

I am a part time Pig farmer and very proud of it.

shymexx:

Nigeria was never meant to be part of BRIC(S) in the first place. Jim O'Neill was just looking for an emerging country in Africa, to complete his forecast, and Nigeria was cited because of its huge young population and huge potentials. However, after thoroughly evaluating the anomaly in Nigeria's economic base and tempting but lousy economy, over a period of time - the country was discarded for a more stable South Africa.

No country was meant to be part of BRIC(S). BRIC came to limelight in 2006 after the ex-Brazilian President Lula Da Silva wanted to forge a new economic block with some emerging Eastern European countries as well as some Asia Tigers to expand trade and liberalize the Brazilian economy.

Nigeria had the people, the market, hwoever, She lacked the standards the four nations that wanted to form BRIC set as condition for the group to be formed.

atlwireles:

I am a part time Pig farmer and very proud of it.

Hehe... Mr PIGGY.. how market.. but we are discussing issues beyond your pig farming level okay.

Omo_Tier1:

No country was meant to be part of BRIC(S). BRIC came to limelight in 2006 after it Brazil them President Lula Da Silva wanted to forge a new economic block with some emerging Eastern European countries as well as some Asia Tigers to expand trade and liberalize the Brazilian economy.

Nigeria had the people, the market, hwoever, She lacked the standards the four nations that wanted to form BRIC set as condition for the group to be formed.

I hear that. However, the concept was Jim O'Neill's concept. And it was BRIC, with Nigeria being touted, to make it BRIC(N) because of its massive potentials and huge population.

Omo_Tier1:
Hehe... Mr PIGGY.. how market.. but we are discussing issues beyond your pig farming level okay.

Market is very good as long, as you are not selling Omo tier's bullshit

shymexx: I'm a tad bit skeptical about this MINT thing by Jim O'Neill again. I believe he means well and Nigeria has so much potentials, however, sometimes we have to be realistic and not let the need to always look objective towards Africa give people false hopes. If we compare Nigeria with the other three countries that make-up the acronym - we would find out that Nigeria sure has the best potentials (on paper) among the lot. The biggest and ever growing economy in Africa. Huge young and vibrant population. And massive resources.

However, the challenges are too enormous to keep the bubble afloat for too long. The country is rife with corruption. No base for the huge economy and I dare say the Nigerian economy would crash with the smallest capital flight. No infrastructures. Lack of investments in the massive young population. Inability to diversify the economy. No middle class (the middle class keeps the economy afloat) etc.. The challenges are just too much.

There are so many skeptics about Nigeria already. And I'm sorry, Jim O'Neill is a good man, but I would have to go with the skeptics unless something is done.

Nigeria should not be talking of being part of MINT either! Let face it, the 4 years we have wasted with that LOOTOCRAT GEJ, if Nigeria had had a visionary leader in that seat, by 2020, We would have be in top 15 economy in the World.

Imagine from 1999 to 2007, Obasanjo grew the nation reserves from less than $11bn to over $45bn, yet with the massive oil boom in the last 4 years, the LOOTOCRAT GEJ have not been able to grow the reserve further! That is why we need a sensible and visionary leader come 2015 and by 2025, our GDP would have grew to over $1trillion.