₦airaland Forum

Op is missing a point here... We dnt have to be rich to have a good life..

E. G. Environmental cleanliness, electricity, good and affordable housing, cheap food,good schools, good and functioning hospitals...

Take for example, out dirtiness in this country is not cus of national revenue, we are very dirty...

Always remember Rwanda which doesn't have high GDP but has high living standard...

Living standard bis all.we crave ..if anyone of us then want to b rich..he works extra hard..

So ,OP, I re-affirm...We can far far better than we currently do

brain54:
You guys keep mentioning oil like that is the only natural resource...

The US economy isn't dependent on her oil reserves.

Tell me what natural resources or commodity explored in the US that drives her economy!

You're shifting goal post. I said that that total value of all the natural resources in the US, not only oil, dwarves that of Nigeria.

They don't drive the US economy because it's much bigger. But the US is richer than Nigeria in natural resources. Vastly richer. Nigeria isn't even among the top 10 when it comes to natural resources.

bigpicture001:
So ,OP, I re-affirm...We can far far better than we currently do

Definitely.

olyrayy:
Yes. Nigeria is a very poor country. A lot of Nigerians are under the illusion that we're rich and prosperous. The government should pay for my light, electricity, school fees, fuel, etc. They have the money, but they're looting it.

Sorry to burst your bubble. But Nigeria is actually a very poor country, even if we account for the looting and all other nonsense.

To calculate someone's wealth, you use their income and expenses.

I had a look at Nigeria's budget, which is basically how much we spend. And it's so freaking low. Especially if you divide it by our population.

You can check the list of countries by budget expenditure per capita. Nigeria is right next to shithole broke countries like Pakistan, Bangladesh and co. When you think of those countries, do you think of rich countries?

Most Nigerians think that we're rich like Saudi Arabia. But we're not. We're poverty stricken.

I recently discovered just right now that Iraq earned $90 billion from oil in 2024. How much did Nigeria earn? $30 billion. Meanwhile, Iraq has to share $90 billion amongst 50 million people while Nigeria has to share for 200 million.

And I literally saw someone online lamenting about Iraq being a shithole third world country.

By the way, check out the budget for our African peers like Egypt and South Africa. Egypt's budget is 3x higher than ours.

Of course, you could say that we are rich in natural resources bla bla bla. I doubt we are as rich in resources as most Nigerians think. But even if we were, it doesn't mean shit. Potential income is not the same as income. I mean... I could as well say that if you work hard and start a business, you could be a billionaire. But you're not. You're most likely poor. Potential to be rich is not the same as being rich.

Once you understand that Nigeria is actually a poor country, many Nigerians would know where the problem starts from and stop saying asinine shit like government should pay for my light, electricity, fuel, school fees, food, and even my wedding.

I concur with you 💯%

Infotubia9ja:
If you know how wealthy this country nigeria is you wont be saying this.
Nigeria has what it takes to shut other countries including China and america to stand still. But we invest in stupidity instead of proper education and learning.

If nigeria utilizes it full potentials when the country makes a strong notation all other countries in the world will stand still watch and listen. But we are the problem because we let people with less vision to lead us to the dept of the bottom hell.

Even if you utilize all your potentials you can't still beat China.

It's not only Nigeria that has human and Natural resources all these abound the surface of the earth.

Nigeria is cool but not exceptional

Always remember that teacher in civil. Service are never rich parents..

But in the end.. the teacher trains all children in varsity, feed them through the years.., pays rent regularly, even buy a portion of. Land à family asset.. in essence.., planning can rescue low revenue nations

olyrayy:
You're shifting goal post. I said that that total value of all the natural resources in the US, not only oil, dwarves that of Nigeria.

They don't drive the US economy because it's much bigger. But the US is richer than Nigeria in natural resources. Vastly richer. Nigeria isn't even among the top 10 when it comes to natural resources.

Nigeria is one of the richest countries in the world...

In terms of natural resources that is basic knowledge.

Everybody knows that. They don't have to be the richest or richer than US before we tag them as rich.

That they live below expectations and their potential is not due to the absence of available resources but due to mismanagement and vision less of their leaders.

This is simple to understand!

brain54:
Nigeria is one of the richest countries in the world...

In terms of natural resources that is basic knowledge.

Everybody knows that. They don't have to be the richest or richer than US before we tag them as rich.



That they live below expectations and their potential is not due to the absence of available resources but due to mismanagement and vision less of their leaders.

This is simple to understand!

Stop that nonsense, Nigeria is not one of the
richest countries. Having potential to be rich is different from being rich.

The 10 richest countries by natural resources are Russia, the United States, Saudi Arabia, Canada, Iran, China, Brazil, Australia, Iraq, and Venezuela. These countries are ranked by the estimated value of their natural resources, which include fossil fuels, timber, and minerals like gold, copper, and iron ore

Ttalk:
Stop that nonsense, Nigeria is not one of the richest countries. Having potential to be rich is different from being rich.

You underate Nigeria...

I won't argue with you. Do your research. Nigeria can easily fit into the top 20 richest countries in the world.

But I won't argue with you. I would only pray a similar prayer to the one Jesus made. "Father forgive them for they know not what they have"!

Ttalk:
Stop that nonsense, Nigeria is not one of the
richest countries. Having potential to be rich is different from being rich.

The 10 richest countries by natural resources are Russia, the United States, Saudi Arabia, Canada, Iran, China, Brazil, Australia, Iraq, and Venezuela. These countries are ranked by the estimated value of their natural resources, which include fossil fuels, timber, and minerals like gold, copper, and iron ore

Good list...

You quoted from the exact source I have on my hands here. What position is Nigeria on that list 14 right?

Top 14 richest countries in terms of resources is not a top country?

Who's saying nonsense now?

Good night!

brain54:
Good list...

You quoted from the exact source I have on my hands here. What position is Nigeria on that list 14 right?

Top 14 richest countries in terms of resources is not a top country?

Who's saying nonsense now?

Good night!

I no get time for your type this evening

Ttalk:
I no get time for your type this evening

Na you quote me...

Even said I wrote nonsense.

Na you no get time this evening again. Answer the question. Top 14 is not top richest countries?

Una go dey look for who to argue nonsense with.

You quoted a list and failed to see them in top 14 position.

Must it be no 1 position before you acknowledge it's one of the richest countries in terms of resources?

Ttalk:
Even if you utilize all your potentials you can't still beat China.

It's not only Nigeria that has human and Natural resources all these abound the surface of the earth.

Nigeria is cool but not exceptional

Okay if you say so..

lawani:
Not necessarily. US and Norway produce more oil per Capita than Nigeria.
If you want a working country, the sacrifice you need to pay is high taxes

Saudi Arabia, Qatar, UAE are zero tax countries.

olyrayy:
Yes. Nigeria is a very poor country. A lot of Nigerians are under the illusion that we're rich and prosperous. The government should pay for my light, electricity, school fees, fuel, etc. They have the money, but they're looting it.

Sorry to burst your bubble. But Nigeria is actually a very poor country, even if we account for the looting and all other nonsense.

To calculate someone's wealth, you use their income and expenses.

I had a look at Nigeria's budget, which is basically how much we spend. And it's so freaking low. Especially if you divide it by our population.

You can check the list of countries by budget expenditure per capita. Nigeria is right next to shithole broke countries like Pakistan, Bangladesh and co. When you think of those countries, do you think of rich countries?

Most Nigerians think that we're rich like Saudi Arabia. But we're not. We're poverty stricken.

I recently discovered just right now that Iraq earned $90 billion from oil in 2024. How much did Nigeria earn? $30 billion. Meanwhile, Iraq has to share $90 billion amongst 50 million people while Nigeria has to share for 200 million.

And I literally saw someone online lamenting about Iraq being a shithole third world country.

By the way, check out the budget for our African peers like Egypt and South Africa. Egypt's budget is 3x higher than ours.

Of course, you could say that we are rich in natural resources bla bla bla. I doubt we are as rich in resources as most Nigerians think. But even if we were, it doesn't mean shit. Potential income is not the same as income. I mean... I could as well say that if you work hard and start a business, you could be a billionaire. But you're not. You're most likely poor. Potential to be rich is not the same as being rich.

Once you understand that Nigeria is actually a poor country, many Nigerians would know where the problem starts from and stop saying asinine shit like government should pay for my light, electricity, fuel, school fees, food, and even my wedding.

What does Israel have, compared to Nigeria?
Leave the population out of this for now.

And point of correction, I've never met a Nigerian who said the government should pay for the amenities you mentioned there. Nigerians have always been self sufficient…

lawani:
You don't need a benevolent leader. What you need is a viable, tested and trusted system. What has worked all over the world is taxing the economy at a rate of around fifty percent to pay for good education, universal healthcare, infrastructure and etc

How can you tax people at a rate of fifty percent?! Are you high??

thats because we have more fuuls than intellectuals


the scale of smart vs dumb people is unmarginalized where rate of dumb people in nigeria are skyrocketing so your average nigerian is classified as dumb then imagine your average politician


when an empty brain gets elevated, it starts compiling shmit here and there

Why do the politicians live so luxuriously and help themselves to so much from national purse?

joshbj:
I agree. We're not that Rich. Nigeria's 2025 budget is approximately N54.99 trillion, which is about $32.4 billion based on an exchange rate of N1,700 to $1. However, this figure may vary with changes in the exchange rate.


This is budget of some companies in the US

And not the very big companies ooo.

olyrayy:
Yes. Nigeria is a very poor country. A lot of Nigerians are under the illusion that we're rich and prosperous. The government should pay for my light, electricity, school fees, fuel, etc. They have the money, but they're looting it.

Sorry to burst your bubble. But Nigeria is actually a very poor country, even if we account for the looting and all other nonsense.

To calculate someone's wealth, you use their income and expenses.

I had a look at Nigeria's budget, which is basically how much we spend. And it's so freaking low. Especially if you divide it by our population.

You can check the list of countries by budget expenditure per capita. Nigeria is right next to shithole broke countries like Pakistan, Bangladesh and co. When you think of those countries, do you think of rich countries?

Most Nigerians think that we're rich like Saudi Arabia. But we're not. We're poverty stricken.

I recently discovered just right now that Iraq earned $90 billion from oil in 2024. How much did Nigeria earn? $30 billion. Meanwhile, Iraq has to share $90 billion amongst 50 million people while Nigeria has to share for 200 million.

And I literally saw someone online lamenting about Iraq being a shithole third world country.

By the way, check out the budget for our African peers like Egypt and South Africa. Egypt's budget is 3x higher than ours.

Of course, you could say that we are rich in natural resources bla bla bla. I doubt we are as rich in resources as most Nigerians think. But even if we were, it doesn't mean shit. Potential income is not the same as income. I mean... I could as well say that if you work hard and start a business, you could be a billionaire. But you're not. You're most likely poor. Potential to be rich is not the same as being rich.

Once you understand that Nigeria is actually a poor country, many Nigerians would know where the problem starts from and stop saying asinine shit like government should pay for my light, electricity, fuel, school fees, food, and even my wedding.

This is the most senseless post I've ever Read in a long while.

This op didn't tell you than 30 years ago a naira was by far valuable than the British pound.

That Nigerian never needed Visa to travel to anywhere around the world yester years.

He didn't tell you loot from abacha was enough to build refinery that works.

He didn't tell you loot from Babangida, Alamco and James obori are enough to build nuclear reaction that would generate light for years for Nigerian.

He didn't tell you so many things.

What he told you hook link and sinker is Nigeria is a poor country.

People like this are what gives politicians the impetus to trample on our common right.

To fix Nigeria is not rocket science.

Enact a law that states any public office holder must ensure:

All their kids live, school and work in Nigeria (that was what made UI, OAU and UNN great years ago)

These includes: house of rep, senate, heads of military and senior government officials. From local government to federal govt.

Nowadays anyone with small $$ from government flies abroad with his families and they start a life there.

All oil companies operating in Nigeria must contribute and use the national power grid.

You go see say nepa go work by fire by force and the transformer will be protected.

#stopgivingdumbpeopleaudience#

brain54:
They are more highly dependent and reliant on taxation because they have fewer natural resources...


Copycat syndrome is sometimes the bane of our problems as Africans.

It's good to copy sometimes... but other times is necessary to fashion out tailor made solutions to our problems.

It's the only way we can grow. I always use China as an example. Their solutions are tailor made to fit their problems.

They don't copy the west hook, line and sinker. The worst they do, and we ought to do is modify what works there to suit our problems.

Another good example of tailor made solutions is Singapore!

If you want us to depend solely on selling natrual resources, you are setting us up for more debt, and even more debt.

Most of the money earned from natural resources would be used to import consumer goods....at a price higher in value than the sale from the natural resources. Like..for example, we used to be the world leader in columbite production...which we exported, was used to make planes, and then sold back to Nigeria at a higher profit. Meanwhile, no domestic aerospace industry till date. And at the end, we get into debt.

Also, who sets the prices of our natrual resources? Not us, not us. Remember we are competing with several other nations in the sale of those resources, so prices may not be high enough to maintain the good life we want. And indirectly...more debt.

Countries that do well in the world are countries that use their brains to innovate solutions via industrial growth and development. That's how the Singapore you are praising did it...plus Singapore is located at the 'entry' to south east asia...a large market...plus china and japan. Selling resources is just a nice way of saying ye want to be poor. That's why I laugh when I hear say we have resources. Even forgetting the fact that we aint exploting them well, and a lot are stolen, if we even tightened up things, the money we would bring in won't be enough. Our populaiton is too large in comparison to our resources

China by the way is rich in a lot of resources...but has a very high populaiton, so industrializaiton was the answer. We better wake up and do that. But instead I see apc and oppostion promising that they will make nigerians richer in 4 years. Ye gods!

nairalanda1:
If you want us to depend solely on selling natrual resources, you are setting us up for more debt, and even more debt.

Most of the money earned from natural resources would be used to import consumer goods....at a price higher in value than the sale from the natural resources. Like..for example, we used to be the world leader in columbite production...which we exported, was used to make planes, and then sold back to Nigeria at a higher profit. Meanwhile, no domestic aerospace industry till date. And at the end, we get into debt.

Also, who sets the prices of our natrual resources? Not us, not us. Remember we are competing with several other nations in the sale of those resources, so prices may not be high enough to maintain the good life we want. And indirectly...more debt.

Countries that do well in the world are countries that use their brains to innovate solutions via industrial growth and development. That's how the Singapore you are praising did it...plus Singapore is located at the 'entry' to south east asia...a large market...plus china and japan. Selling resources is just a nice way of saying ye want to be poor. That's why I laugh when I hear say we have resources. Even forgetting the fact that we aint exploting them well, and a lot are stolen, if we even tightened up things, the money we would bring in won't be enough. Our populaiton is too large in comparison to our resources

China by the way is rich in a lot of resources...but has a very high populaiton, so industrializaiton was the answer. We better wake up and do that. But instead I see apc and oppostion promising that they will make nigerians richer in 4 years. Ye gods!

This is a good point...

Infact, it's a brilliant summation.

The only part I would like to clarify is that I have never been an advocate of selling resources in it's raw form.

Industrialization is the way to go as you mentioned. I have always canvased for processing our raw materials for export instead or at least value addition instead of depending on the raw form.

With a population of over 250 million people Nigeria is a large market by itself. I feel we haven't tapped into that enough yet.

Development happens in stages from traditional to pre-industrial, industrial and post industrial. The truth is we can't directly jump into the post industrial.

We have to start by processing or adding value to our raw resources before we progress through the stages.


Our population is large but I strongly believe that if well managed Nigeria can do well.

It only takes leaders with vision with willingness to tackle our problems a major one of which is corruption.

But I like all you said. It's interesting and challenging and progressive!

haggai247:
This is the most senseless post I've ever Read in a long while.

This op didn't tell you than 30 years ago a naira was by far valuable than the British pound.

30 years ago was 1995...and back then the naira was around N30 to one pound, if not more. And back then it was called a useless currency.

In the 1970's when oil money was powering us up, and when the UK was suffering the effects of deindustrialization, and becoming broke that they needed an IMF bailout (yes), that's when the naira was at par with the pound. Once Thatcher fixed things in the 1980's, the naira fell behind the pound.

That Nigerian never needed Visa to travel to anywhere around the world yester years.

Maybe when we were still a colony of the UK, we did not need visas for the UK, but once we became a republic in 1963, you needed visas. My relative who went to the UK in the 1970's for studies needed a visa. For other countries, you still needed a visa.

Also, plane travel overseas was very expensive, and a tinier minority than now travelled oversease.

He didn't tell you loot from abacha was enough to build refinery that works.

At 4 billion dollars, it might have, but then it would have collapsed because the subsidies on petrol , diesel and kerosene then would have made the refinery inoperable. No profits and all that.

He didn't tell you loot from Babangida, Alamco and James obori are enough to build nuclear reaction that would generate light for years for Nigerian.

Not exactly true. Their loot would have at best given us 1000 mw nuclear energy station, plus nuclear power costs too much money...especially in maintenance. SO, if we built one, it won;t take long for it to spoil in a country where most people don't pay cost reflective tarrifs for power. Under the NEPA it was worse.

He didn't tell you so many things.

What he told you hook link and sinker is Nigeria is a poor country.

Yes, we are a poor country, because if we had been an industrial country, our budget would have been in the hundreds of billions of dollars. Because we rely mostly on oil money which can feed a country that has just one to two million people....that's why we are poor.

And that's why it's a big shame we cannot fight corruption...because it basically amounts to stealing from a treasury that does not have enough cash to begin with.

People like this are what gives politicians the impetus to trample on our common right.

The average politican knows. But they are scared of the hard things needed to improve us...so they campaign on anodyne promises of more roads, more villages connected to the grid, more potable wanter, more hospitals, etc...with no plans as to how they would pay for it on a budget that is, at best, half of what the UK spends on policing, and that is enough to fund 4 US colleges....and can realistically fund a nation of 2 million at best.

Plus sayingwe are poor is an indictment on the politicans themselves. All those years in power, and they have done nothing to make us rich. Even if they use it as an excuse, one can ask them that why haven't you imprvoed things then?

To fix Nigeria is not rocket science.

Enact a law that states any public office holder must ensure:

All their kids live, school and work in Nigeria (that was what made UI, OAU and UNN great years ago)

What made those universities great back then was that the education budget as at that time could take care of all of them. PLus ABU. When more and more universities started being created from 1974 onwards, the education budget could not keep up

Like now, by my estimate, we need a education budget of 300 trillion naira for world class unis. INstead we budget 3 trillion for universites...and primary, secondary and polytech, and COE and other tertiary schools. LOL...that's not even going to fund them adequately...even if we fight corruption.

we are really poor.

Nowadays anyone with small $$ from government flies abroad with his families and they start a life there.

As do millions of nigerians without any government links.

All oil companies operating in Nigeria must contribute and use the national power grid.

You go see say nepa go work by fire by force and the transformer will be protected.

#stopgivingdumbpeopleaudience#

If you want NEPA to work you got to end power theft, get everyone to pay cost reflective tarrifs, meter everyone, end corruption in power distribution, and yes, investment may come in to the tune of the 15 trillion yearly we need for power to work.

We are poor but our leaders live life to the fullest while they leave the masses to suffer right

Atleast the president have more than 30 motorcades in his convoy, Ministers have more than 10, governors more than 20, Senators same but yet we are poor

Just say we are servicing the lifestyles of greedy men who called themselves leaders

Periodt

nairalanda1:
30 years ago was 1995...and back then the naira was around N30 to one pound, if not more. And back then it was called a useless currency.

In the 1970's when oil money was powering us up, and when the UK was suffering the effects of deindustrialization, and becoming broke that they needed an IMF bailout (yes), that's when the naira was at par with the pound. Once Thatcher fixed things in the 1980's, the naira fell behind the pound.



Maybe when we were still a colony of the UK, we did not need visas for the UK, but once we became a republic in 1963, you needed visas. My relative who went to the UK in the 1970's for studies needed a visa. For other countries, you still needed a visa.

Also, plane travel overseas was very expensive, and a tinier minority than now travelled oversease.


At 4 billion dollars, it might have, but then it would have collapsed because the subsidies on petrol , diesel and kerosene then would have made the refinery inoperable. No profits and all that.



Not exactly true. Their loot would have at best given us 1000 mw nuclear energy station, plus nuclear power costs too much money...especially in maintenance. SO, if we built one, it won;t take long for it to spoil in a country where most people don't pay cost reflective tarrifs for power. Under the NEPA it was worse.


Yes, we are a poor country, because if we had been an industrial country, our budget would have been in the hundreds of billions of dollars. Because we rely mostly on oil money which can feed a country that has just one to two million people....that's why we are poor.

And that's why it's a big shame we cannot fight corruption...because it basically amounts to stealing from a treasury that does not have enough cash to begin with.



The average politican knows. But they are scared of the hard things needed to improve us...so they campaign on anodyne promises of more roads, more villages connected to the grid, more potable wanter, more hospitals, etc...with no plans as to how they would pay for it on a budget that is, at best, half of what the UK spends on policing, and that is enough to fund 4 US colleges....and can realistically fund a nation of 2 million at best.

Plus sayingwe are poor is an indictment on the politicans themselves. All those years in power, and they have done nothing to make us rich. Even if they use it as an excuse, one can ask them that why haven't you imprvoed things then?

To fix Nigeria is not rocket science.



What made those universities great back then was that the education budget as at that time could take care of all of them. PLus ABU. When more and more universities started being created from 1974 onwards, the education budget could not keep up

Like now, by my estimate, we need a education budget of 300 trillion naira for world class unis. INstead we budget 3 trillion for universites...and primary, secondary and polytech, and COE and other tertiary schools. LOL...that's not even going to fund them adequately...even if we fight corruption.

we are really poor.



As do millions of nigerians without any government links.



If you want NEPA to work you got to end power theft, get everyone to pay cost reflective tarrifs, meter everyone, end corruption in power distribution, and yes, investment may come in to the tune of the 15 trillion yearly we need for power to work.

Agadonians never seize to try and impress their pay master.

We see where you're going with taxes but please note and tell your pay master.

Nigerians can't pay taxes your paymaster wants everyone to pay period.... because that's the narrative with this senseless post.

We will only pay tax to a government that guarantees peace security and economic prosperity.

Keep working for you laptop pay.

Nigeria is a poor country but it politicians earn more than an average US senator...keep decieving yourself.

Tell your pay master this:

His Politics of religion and tribe will get Nigeria nowhere but like failed countries across the world.

haggai247:
Agadonians never seize to try and impress their pay master.

We see where you're going with taxes but please note and tell your pay master.

Nigerians can't pay taxes your paymaster wants everyone to pay period.... because that's the narrative with this senseless post.

We will only pay tax to a government that guarantees peace security and economic prosperity.

Keep working for you laptop pay.

Nigeria is a poor country but it politicians earn more than an average US senator...keep decieving yourself.

Tell your pay master this:

His Politics of religion and tribe will get Nigeria nowhere but like failed countries across the world.

Thanks for the usual raw commentary

Consider that i hold the government of tinubu responsible for the economic problems of today and for not doing anything to solve them

But for telling you the truth about the past , I am agbado

Dude, you better change your thinking.

If you disagree with someone on this site , dem go call you agbado

Honestly, adhomien attacks on this site reflect more on the person lobbing then, than the person they are being lobbed at.

Lol

ambale:
We are poor but our leaders live life to the fullest while they leave the masses to suffer right

Atleast the president have more than 30 motorcades in his convoy, Ministers have more than 10, governors more than 20, Senators same but yet we are poor

Just say we are servicing the lifestyles of greedy men who called themselves leaders

Periodt

Very naive analysis.

What is so "expensive" about a motorcade of 20 cars when the roads are filled with millions of cars?

IbnB:
How can you tax people at a rate of fifty percent?! Are you high??

I said taking fifty percent of GDP as taxes. There are different taxes like income tax, VAT property tax and etc which normally should add up to fifty percent of the GDP or more
In most working countries the sum total of what government takes is up to fifty percent of the GDP

Sheuns:
Saudi Arabia, Qatar, UAE are zero tax countries.

They haver a very low population and they don't produce much outside oil. For Nigeria to be like them we must produce over 200 million barrels of oil per day then what we will achieve is to be like livestock to government

nairalanda1:
If you disagree with someone on this site , dem go call you agbado

Honestly, adhomien attacks on this site reflect more on the person lobbing then, than the person they are being lobbed at.

Lol

The quick resort to ad-hominems, utter indifference to facts, and manifest inability to apply basic logic exhibited by so many commenters on here are why I find myself visiting this site less and less as time goes by ...

No matter how often and at what length one states the obvious on here (e.g. that Nigeria is actually dirt-poor, that the corruption Nigerians claim to hate stems largely from the economic interventionism they demand, or that countries like Switzerland, South Korea and Taiwan show natural resources have little to do with prosperity), these facts never seem to permeate into the intellects of the half-baked, barely literate types who constitute the loudest and most vociferous commentators on the site.

The end result of all of this is that Nairaland is a showcase for the application of Gresham's Law to trolling.

https://paulgraham.com/trolls.html

Actually Nigeria isn't poor but it is not well managed. There has never been famine in the country for instance and if you can solve your food problem the rest is easy according to a Yoruba proverb
Then as another proverb says 'omo bere osi bere' The more your children the more your poverty. Nigeria's population has quadrupled in the last sixty years. No rich country is like that