I think Nigeria is only a rich country in terms of potential(mineral resources) and population size.
in comparism we are not even as rich as countries like UAE or china that has over 1Trillion in foreign reserves and still owned Over 1trillion by the US or will You say we are rich when the value of 2companies in US alone .is higher or equal to our GDP(size of our economy).eg Apple and IBM put together pass Niajia GDP.not to talk of Mobil,Chevron,Microsoft.e.t.c

imagine only California GDP pass the one of the entire West Africa.(over 1.3trillion)
so for me we they learn work.

Because is is rich in CORRUPTION!!!!!

Sweetguy25:
Seriously, its annoying. We should all face reality and acknowledge that we are poor. We are one of the poorest countries in the world.

We should not be carried away by reports that Nigeria makes 70 billion dollars a year from crude oil. 70 billion dollars is chicken change for 170 million people. 70 billion dollars is not enough for Lagos state; 70 billion dollars in not enough to fix the rot in our education sector; 70 billion dollars is not enough to give us that level of infrastructure we see in the developed world.

Nigeria needs to be earning revenues of about 300 billion dollars annually in order for any serious development to take place. There's no hope in sight that this will achievable in the next ten years.

To make matters worse, the way the money Nigeria earns is shared makes it very difficult for Nigeria to develop or for the money be used to achieve anything meaningful. As long as all that Nigeria does is get money from crude oil and share the money among all the state and local governments, then we are wasting our time. We have been trying that for the past sixteen years and nothing has changed. We should try something new

The truth is that we are decades away from development and the farther you neglect your education, infrastructure and economy, the harder and more costly they get in order to fix.

We failed to fix these problems in the early days when they were easier to fix, we have to live with the brunt of our failures and mistakes.

I wish Buhari well but I doubt if he can do much or create any impact.

I think Nigeria is only a rich country in terms
of potential(mineral resources) and
population size.
in comparism we are not even as rich as
countries like UAE or china that has over
1Trillion in foreign reserves and still owned
Over 1trillion by the US or will You say we
are rich when the value of 2companies in US
alone .is higher or equal to our GDP(size of
our economy).eg Apple and IBM put together
pass Niajia GDP.not to talk of
Mobil,Chevron,Microsoft.e.t.c
imagine only California GDP pass the one of
the entire West Africa.(over 1.3trillion)
so for me we they learn work.

Sweetguy25:
Have you seen what other countries (with smaller populations) budget for certain purposes? Try and do some research.

One of the problems we are facing is that majority of Nigerians are very ignorant

onoja12:
i think you don't seem to know much about Nigeria economy and probably you haven't travel either,first of all Nigeria is the 23th richest country in the world and Nigeria has a purchasing power of almost 700billion dollars,i don't know who told you Nigeria makes 70 billion a year that is a lie,please try to educate yourself more about Nigeria.Nigeria is a rich country by all standard the problem is the distribution of wealth as for what the 178million population does,well if you have a market of 178million you would understand the importance

Ignorance and foolishness

Sweetguy25:
The obiagelli thread made me start this thread and believe me when I say that most Nigerians think like this. They simply multiply the price of crude oil by the amount of barrels exported and believe that's what we earn. They also believe that this money earned will turn Nigeria to Dubai in three years. This level of ignorance is destructive.

The thing is that with that kind of reasoning most Nigerians have , understanding that the matter on ground is a very serious one is difficult.

Most of them don't even understand that Amazon alone will foot our budget for 150 years non stop.

Sweetguy25:
The obiagelli thread made me start this thread and believe me when I say that most Nigerians think like this. They simply multiply the price of crude oil by the amount of barrels exported and believe that's what we earn. They also believe that this money earned will turn Nigeria to Dubai in three years. This level of ignorance is destructive.

And it's quite unfortunate that trying to explain things to them is futile.