Nigeria, Giant Of Africa? Let's Get Real

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Author Topic: Nigeria, Giant Of Africa? Let's Get Real  (Read 134 views)
rampage
Nigeria, Giant Of Africa? Let's Get Real
« on: November 04, 2006, 02:33 AM »

Just thought I would add this here, since the description for this forum is "Nigeria, giant of Africa" but the truth of the  matter is that we are being left behind.  Nigerians, we need to stop being so delusional about our position in Africa as some of  these reports are shameful

Top 10 African  ICT Implementers
http://www.clickafrique.com/Magazine/ST014/CP0000000642.aspx

Top 10 Most Competitive African Economies
http://www.clickafrique.com/Magazine/ST014/CP0000000557.aspx

Top 10 Countries in Africa for Press Freedom
http://www.clickafrique.com/Magazine/ST014/CP0000000495.aspx

10 Fastest Growing  African Economies
http://www.clickafrique.com/Magazine/ST014/CP0000000311.aspx

Africa's Ten Wealthiest Economies
http://www.clickafrique.com/Magazine/ST014/CP0000000224.aspx

Africa's Ten Largest Companies
http://www.clickafrique.com/Magazine/ST014/CP0000000175.aspx

Makes for grim reading, cause we hardly make an impact in any those reports.
Donzman (m)
Re: Nigeria, Giant Of Africa? Let's Get Real
« #1 on: November 04, 2006, 04:12 AM »

Statistics are great but you have to remember that most Nigerians don't report their businesses or earnings. You have to be in Nigeria to see how people live, some people live in a one bedroom flat in the city but are able to build duplex(es) back in their hometowns. There's a lot of money in Nigeria, you just don't see it on paper.

Out of those countries, none of them have a sizeable population with the exception of South Africa. It's these kind of stats. that show Luxembourg as the world's wealthiest country ( come on now). How can Equitorial Guinea be the wealthiest nation in Africa?, I went with my dad for some business there a while back, the seating in their international airport was made of benches. Take that for what it is, the country is massively underdeveloped. I didn't expect to see many Nigerian companies in the top 10 list, most Nigerians have middle-sized businesses that can provide for them and their family at large, they want to maintain control of their firms so they're not really interesting in public offerings as that will involve lots of outside interference.

Finally, GDP or economic performance isn't all it takes to be a giant. How many AU affairs do you see any of those countries participating in? Most of the peacekeeping operations going on is dominated by Nigerian troops,we have a large voice because of our population and so on
rampage
Re: Nigeria, Giant Of Africa? Let's Get Real
« #2 on: November 04, 2006, 12:07 PM »

I hear you my brother but this is how I see it.

Just because these other nations are small in population does not mean that you should discount them. Luxembourg is a country of most analysts would describe it as a stable high income economy, with year on year solid economic growth, low inflation, and low unemployment, so they must be doing something right, as for Equaotrial Guinea, having money is one thing, what you do with it, well that is another. One of the biggest problems facing developing nation's is the distribution of wealth, as many african leaders who prefer the status quo, get yourself richer and keep the poor poorer.

And if we were to judge countries by their airports, well Senegal's Dakar airport, beats anything we have in Nigeria. The airport is a smaller version of the charles de gaulle airport in paris, just that there are more black people. Don't believe lagos or the abuja airport bear any close resemblance to Heathrow or Gatwick, or even the London city airport.

As for businesses not reporting their earning, I would hate to believe that that is a problem that can be found only in Nigeria, reporting is generally poor all over the contient, and there were proper institutions that would actually do the job of collecting, it would not be a proper, if the governemnt does not go out to collect, or threaten persecution if you do not report your earnings, why would anybody in the hell would want to do that.

Again the aurgument of small to medium sized businesses (SMEs),  in almost all developed countries, they form the backbone of the economy, take Italy for instance, the business landsacpe is dominated by private businesses but it is still one of the largest and most developed in the world, but ENEL and UniCredito Italiano are some of the biggest companies in the world, and they are not even household names. Italy, can do it, why can't we?

I am not saying, we do not have the potential to be the giant of Afica, we do, and many people outside Nigeria would tell you the same, but they would also tell you that we seem to be puncing above our weight at the moment, as it is all talk and nothing to show for it, apart from the sheer size of our population, and if that is all we have got, then GOD HELP US!
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