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Do not be deceived by numbers. Let your daily experience at rat race for survival guide and educate you.

In real terms, the top three African economies of Nigeria, South Africa and Egypt are stagnating even though they are the biggest. They have not had any growth nor positive initiative in a while. They are just there. It is like a one eyed man in the land of the blind with severe cataract, night and colour blindness in the very eye that is not blind.They are big because others are small, and do not have the capacity to grow at levels that may tilt the cart soonest.

Is also tells the story of the gap between Africa's biggest economies and the rest. If not the better performing economies would have overtaken these three laggards.

Numbers can be deceiving and always numb our senses from looking at things from a higher realm thereby asking the right questions such as;

1. Is the size of Nigeria's economy today not lesser than what it was two years ago.

2. Is the income per capita of the average Nigerian today not lesser than what it was two years ago?.

3.Is the quality of life of the average Nigeria not poorer than what it was two years ago?

A look at where Nigeria is today on the global misery index shows that the Nigerian is worse off today that he was two years ago.

Please this is not about APC and PDP. If you don't understand the breaking down of basic economics simply jump and pass.

That you are the richest man among very poor people does not make you rich in actual sense. You are just rich relative to the mass poverty around you.

But that does not fully explain this deception of numbers.

For example, even though the Nigerian economy is bigger than say that of Cote d'Ivoire,Rwanda and Ethiopia, three among Africa's fastest growing economies.

The average Nigerian is poorer,less hopeful,less optimistic about his tomorrow and sadder than the average Ivorian.Inspite of the fact that the Nigerian economy is bigger.

A closer look at some calibrations at the IMF/World Bank will make you laugh. For example, those countries tagged lower Middle Income are countries living on above $2.7 per day. Even with a very depressed Naira this is less than N1500.

Can it get a cup of Espresso at Starbucks?

Yet you think country whose citizens are living on such a miserly bracket should be commended.And stupidly enough, such countries do celebrate at being so identified.

IMF/World Bank do not make sense most of the time. Especially to those who truly care about human welfare. It may make sense to the interests the Bretton woods institutions represent.

But does that then mean that it is a bad news for the Nigerian econony to be the biggest in Africa?

No....it is not a bad news.

What is the bad news is that an economy that is in recession for almost a year is still the biggest in the continent.

It is a shame for Africa.

What this means is that the two other economies that should overtake it are suffering different ailments of their own.

The best illustration is like a man with diarrhoea who is in a 100 meters huddle competition with two other contestants who are crippled. You can visit the loo a hundred times and still return to the track and finish first.

The joke is on you if you over celebrate such gold medal.

The long run is made up of several short runs. And one of the short runs is whether your life as a Nigerian in Nigeria has improved in the last two years.

Only then will being the biggest economy make sense.

°°°Kelechi Deca°°°

After thought°°°°°

Being the biggest economy is great. It is good. But for the level Nigeria needs to be, to be able to lift her people out of gnashing poverty, debilitating ignorance and mental penury, I do not think Africa should be the yardstick of achievements worth celebrating.

Nigeria should gun for at least top 25 biggest economy in the world to make a dent on visible poverty and mold the quality of national psyche that will propel its people to pull their weights in legitimate appropriation of the global commonwealth.

Numbers alone do not tell the story.

Osmondinho:
After thought°°°°°

Being the biggest economy is great. It is good. But for the level Nigeria needs to be, to be able to lift her people out of gnashing poverty, debilitating ignorance and mental penury, I do not think Africa should be the yardstick of achievements worth celebrating.

Nigeria should gun for at least top 25 biggest economy in the world to make a dent on visible poverty and mold the quality of national psyche that will propel its people to pull their weights in legitimate appropriation of the global commonwealth.

Numbers alone do not tell the story.

A word is enough for the wise.

There is a big difference between a business that's worth N50M but with liability of N40M and another business that's worth just N20M with zero liability. We became biggest economy on debt even though we had the resource to be biggest economy debt-free. Our leaders scammed us big time.

OK

Sibrah:
There is a big difference between a business that's worth N50M but with liability of N40M and another business that's worth just N20M with zero liability. We became biggest economy on debt even though we had the resource to be biggest economy debt-free. Our leaders scammed us big time.

You've said it all

Sibrah:
There is a big difference between a business that's worth N50M but with liability of N40M and another business that's worth just N20M with zero liability. We became biggest economy on debt even though we had the resource to be biggest economy debt-free. Our leaders scammed us big time.

Yes the resources where squandered by the likes of PEJ, Dansuki,FFK,Metuh,Deziani and others. Our Ex Funace minister raised our debt profile i an alarming rate despite selling crude for an average of $100/barrel with full capacity of 2.2bn barrels a day. As a matter if fact we were the biggest economy also in 2014 when we were already borrowing to pay salaries to workers. The scam started with the previous adminstration despite having full resources and it became a booby trap for the incoming adminstration.

I don't think anyone ever celebrated the biggest economy thingy as it has always been in paper.

People started taking it seriously when PDP fanboys used it as campaign strategy for clueless IB. Even when he didn't contribute a thing to the economy than to wreck it.