A recent study projects that Nigeria will be the third most populated country₁ by then end of the century (Lagos would have 88M residents₂, yes. Imagine Lagos now and how it will be with 88M residents) and by mid-century (less than 30 years), we would surpass the United States. However, same Nigeria has the highest number of poor people globally₃ and economic growth over the past five years has not gone past 3%₄ for a country with birth rates growth edging past 3.5%. There are more babies born in Nigeria than the whole of Europe₅. Unfortunately, the pandemic has exacerbated things coupled with decline in the price of crude oil. This has resulted in economic hardship all over the world but worse in countries with dysfunctional leadership systems. As someone who was fortunate to be born into a family that planned meticulously over the years, I have interacted with people from all walks of life; rich, middle class and poor. I have observed certain behaviours or acts that make Nigerians to further perpetuate poverty in the country, which I believe if the upcoming generation try to avoid or correct, things might get better. “Might” because there exists a limit to national development in the face of dysfunctional leadership systems.

A country does not develop to second world (not first world o) status with “Mushin vs VI”, “but you know na”, “meningitis is caused by fornication” or “ecumenical centres’ building governors” etc., politicians. No country develops with such kind of politicians but it behoves on individuals to become responsible for their trajectories as the people in-charge don’t care about you (Nigerians deserve the leadership system they get but story for another day). Some people believe by relocating, they won’t face these political cretins, which is true. But the vast vast majority of Nigerians don’t have the financial resources to relocate, that is the fact. So no matter how you fantasise about japaing, most people cannot. The Canada exodus still continues but only the top 10% can do it because of the requirements. Truth is: as low as the price of writing IELTS is, not many people can effortlessly afford it let alone do so 3 or 4 times. Reality is: Nigerians are poor; let’s not sugar-coat it. Which brings me to the aspect of acts that make Nigerians poor irrespective of the dysfunctional leadership (which they deserve anyway).

Giving birth to children you cannot cater for: Like I stated here (https://www.nairaland.com/3450586/poor-un-intelligent-people-should-not), giving birth is cheap (depends on certain factors) but raising children isn’t as you are basically catering for another individual or set of people over a long period of time. People frown when their friends/relatives/acquaintances overstay in their houses because of the attendant costs. Now imagine having those individuals with you over a decade or two under your care, financially, emotionally, morally, physically, spiritually etc. That is what it means to raise children. The aspect of procreating to 3 or 4 children when you know the dysfunctional system you reside is befuddling and amusing. The worst is when they expect these children to cater for them in the future whereas same children are battling with limited economic opportunities.

I know someone whose wife died more than a decade ago and had four children from the marriage. He took care of them as he progressed in his place of work, unfortunately, he has issues with the new boss (he is quite opinionated) resulting in his promotion being stalled and salary withheld (according to what he me). The issue here: he remarried few years ago and is currently not finding things easy as the industry he is in was severely affected by the pandemic and lockdown measures. In that wedding, he spent a lot of money. I am sure the new wife will want to birth her own children as I hear that she had only a sibling which came many years after. Which makes me wonder why Nigerian men are not interested in vasectomy because it solves lots of problems including having children with other women outside marriage (another cost to finance).

Over the years, in the non-tertiary sub-sector, private organisations have surpassed public systems as the most preferred for most Nigerians even though these people were educated in the public systems. But at the tertiary level, the vast majority go to public institutions which truthfully the government cannot continue to subsidise going forward in the face of declining crude oil prices. Although, the oil industry constitutes less than 10% of the country’s GDP, it rakes the most foreign exchange contributing at least 80%. However, the price has declined; almost every country is discovering oil, technology has made it easier & faster in non-OPEC countries, alternatives are springing up, major buyers aim to phase out certain aspects of crude oil derivatives in their systems etc. Inevitably, the price has reduced which is not what we need to sustain the ballooning population and cost of governance. Thus, the government does not have enough money to cater for everyone (even if there is no corruption). This implies that the education system will be starved of much needed funds. I explained it here:

Gerrard59:
The future is private universities. Most millennials' parents attended public schools, but they (millennials) attend(ed) private schools - from primary to secondary, and to extent, increasingly, universities. In the future, these millennials' children will attend private universities. How many people are willing to send their kids to public schools these days (primary to secondary)?

However, this is not how things should be in a well-run nation. We're abdicating the responsibility of providing quality education to private individuals which is wrong as the vast majority of the populace will always attend public institutions. In a place like Singapore, the rich, middle class and lower class individuals attend public schools and public schools in saner places are where quality education is provided at affordable costs. Abdicating the responsibility of providing quality education to private individuals will get to the stage of the US where it is your economic background that will say if you're to obtain quality education and not your brain power. However, unlike the US where there are surfeit of scholarships and financial assistance, we don't have such here.

Will I send my kids to a private university if I remain in Nigeria? Affirmative! But is that how things ought to be? No. It should be that parents who desire to send their kids to private universities do so because they desire to, not because that is the only option of obtaining quality education for their wards.

The class war in the future will be epic to watch.

Irresponsible lifestyle: I have come across people with families who live certain lifestyles that are irresponsible. This kind of person does not have financial resources enough to cater for him and his household but goes around carrying side-chicks. Having side chicks is a personal decision which I respect but not when one is not financially buoyant to cater for her (their) expenses and family’s concurrently. Most husbands in Nigeria don’t only cater for their households but immediate family, wife’s family and external relations. Yet these men practice lifestyles that incur unnecessary expenses on an income which is not large enough to cover them. Basically living a champagne lifestyle on a beer income. Due to these lifestyles, they find every means to make money even if corrupt to sustain them because the original income cannot cope. This act leaves little for investments, emergencies, projects, school fees etc. Reality is: these acts are unsustainable in the face of consecutive anaemic economic growth, high taxes, huge family responsibilities, rising population, limited economic opportunities etc.

Emotional Investments: This is investing when the numbers don’t support the reason(s). One of the things I have learnt to respect especially regarding finances & economics is numbers. Once the numbers don’t support the reason, I refrain from doing it or supporting it. This happened twice with my parents. Initially, my dad spent millions building a house in his village even when I cautioned him about the economic necessity for doing so. This was when 1$ = 100N and economic growth was largely positive. My reasons were based on numbers and geography. The closest town had little economic activities except the state capital which was kilometres away. But he decided to build; today, he cannot stay there as there is no economic activity. Waste of money, total waste. Same with my mom, also in her village which is too far from the state’s capital. Fortunately, we have enough to cancel out those losses. But imagine the economic calamity it would have on those who don’t have strong buffer systems? In both scenarios, the numbers didn’t support these investments (worth more than 10M excluding cost of lands). It would have been better they saved in dollars, which is another point. If you have nothing to invest your money due to lack of investment opportunities, little understanding, distance, current job etc., it is better you save the bulk of your money in a currency that is not highly susceptible to inflation & devaluation. Do not invest when the numbers don’t support the reason. Building a house in a place where you cannot lease or resell at a higher level makes no sense. Moreover, the so-called real estate investment/industry in Nigeria is either misplaced or overrated. There are a lot of dead real estate investments in Nigeria (please Google “PwC Nigeria dead capital”). That is, they have no value whatsoever. Look at FESTAC, the infrastructure has deteriorated over the years to warrant investing there or whatever place in Nigeria where the infrastructure deteriorates rather than improve (largely due to the dysfunctional political leadership I mentioned earlier).

Others include: burial costs (the culture of spending huge amounts of money on burials when there is no economic benefit whatsoever is absolutely ridiculous!), buying of items one does not need etc. My advice remains: you reside in a place bedevilled with dysfunctional leadership (don’t hope for the best, rather prepare for the worst), it behoves on individuals to meticulously plan for themselves. Don’t leave things to chance.

1. https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(20)30677-2/fulltext
2. https://www.businessamlive.com/lagos-worlds-populous-city-88m-people-2100-says-gci/
3. https://www.brookings.edu/blog/future-development/2018/06/19/the-start-of-a-new-poverty-narrative/
4. https://www.worldbank.org/en/country/nigeria/overview
5. https://africasacountry.com/2014/05/nigerias-baby-boom

Cc lalasticala

Word!

Gerrard59:
1. https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(20)30677-2/fulltext
2. https://www.businessamlive.com/lagos-worlds-populous-city-88m-people-2100-says-gci/
3. https://www.brookings.edu/blog/future-development/2018/06/19/the-start-of-a-new-poverty-narrative/
4. https://www.worldbank.org/en/country/nigeria/overview
5. https://africasacountry.com/2014/05/nigerias-baby-boom

Excellent, enlightening and enriching thread, which unfortunately is unlikely to be on the front page despite its usefulness.
Thanks for sharing your insight.

.

seguno2:


Excellent, enlightening and enriching thread, which unfortunately is unlikely to be on the front page despite its usefulness.
Thanks for sharing your insight.

Thanks.

Well, if it gets to the FP, fantastic. However, I penned it down to remind anyone who comes across it and tell myself that I warned people of the consequences.

Gerrard59:
Thanks.

Well, if it gets to the FP, fantastic. However, I penned it down to remind anyone who comes across it and tell myself that I warned people of the consequences.

You have clearly done your part.
The heavens and I attest to that
Well done.

Gerrard59:
Irresponsible lifestyle: I have come across people with families who live certain lifestyles that are irresponsible. This kind of person does not have financial resources enough to cater for him and his household but goes around carrying side-chicks.

Gerrard my friend, why this one come face only men na. What of my sisters wey dey use all their money buy wig, makeup and bleaching cream?

pocohantas:


Gerrard my friend, why this one come face only men na. What of my sisters wey dey use all their money buy wig, makeup and bleaching cream?

Maybe because I'm a man and the post focuses more on the family. Nonetheless, it covers both genders especially in spending on items people don't need in order to impress people who don't care about them. Most contraceptives are made for women, so if the man decides not to undergo vasectomy, nothing stops the woman from utilising one method of contraception to aid the family's income. Raising a family is very expensive and it behoves on both genders to plan well especially as they reside in a country where economic growth hasn't reached 5% in the past five years and will require drastic political changes to get double digit GDP growth, something I don't foresee.

Gerrard59:


Maybe because I'm a man and the post focuses more on the family. Nonetheless, it covers both genders especially in spending on items people don't need in order to impress people who don't care about them. Most contraceptives are made for women, so if the man decides not to undergo vasectomy, nothing stops the woman from utilising one method of contraception to aid the family's income. Raising a family is very expensive and it behoves on both genders to plan well especially as they reside in a country where economic growth hasn't reached 5% in the past five years and will require drastic political changes to get double digit GDP growth, something I don't foresee.

I think you people should do vasectomy. A woman can only be pregnant once in 9mths, but a man can impregnate 30 women in a month. The penis is the greater evil .

Don’t mind me, I get your point and I hope they listen.

Klass99:


This........

I cannot for the life of me understand our crazy obsession with having more kids than necessary in this part of the world.

God will provide and take care of them na.

pocohantas:


I think you people should do vasectomy. A woman can only be pregnant once in 9mths, but a man can impregnate 30 women in a month. The penis is the greater evil .

Don’t mind me, I get your point and I hope they listen.

Well, I've always stated I'll undergo vasectomy when I'm done with child bearing. I didn't come into this world to raise a battalion.

Well said! People should just cut their coats according to their income. I cringe when I see less than average people with 3 kids and still counting. No wonder, they assume the community still raise children in today's world thus resorting to begging to cater for their kids. Hmmmm.

This is 100%.

Succinctly presented.

Can I copy and archive somewhere (else), Gerrard59?

I'm impressed mahn.

@ OP, Guy you get sense. In fact, oyel dey your head. e no dry like those APC folks own...

Another thing is we dont plan and save and most importantly invest
Just luk at our... I mean the governmnt

Join the largest insurance company in nigeria, leadway assurance, in our one year savings and investment plan with interest and benifits you cannot get from saving in banks and other institutions just for you
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Sound, commonsense thread!

Other acts are
-expensive photoshoots
-sports betting aka gambling. The house always wins, only a few people get major winnings, the odds are ultimately against the players
-paying for “professional makeupping“ a la Jenifa. Go to Youtube and learn to DIY if you really need to wear that much makeup
- unnecessary upgrading of cellphones and laptops when the current ones still work fine
- buying dead vehicles in the name of “car owner” bottomless pits that gulp large amounts of maintenance money. Better to have no car than to have one that costs more to maintain than it costs to improve the quality of your life
-lack of a budget. In the old days, this wasn’t common in Nigeria but for majority, this is now a necessity
-constantly trying to keep up with the Joneses. . . .

pocohantas:


Gerrard my friend, why this one come face only men na. What of my sisters wey dey use all their money buy wig, makeup and bleaching cream?

Girl I’ve seen ladies save up to 200k just to buy human hair. I don’t grudge people on how they spend their money. But if you’re spending millions to buy something that won’t bring returns, your salary or side business and/or whatever else source of income has to match that spending. As long as the money is coming in, buy whatever you like whatever it costs.

But not with your savings and no guaranteed source of replacement.

DontBullshitMe:
This is 100%.

Succinctly presented.

Can I copy and archive somewhere (else), Gerrard59?

I'm impressed mahn.

You are free to. Kindly mention the moniker and Nairaland, that will do.

This is the kind of topic that sweets my belly

Gerrard59:
Emotional Investments: This is investing when the numbers don’t support the reason(s). One of the things I have learnt to respect especially regarding finances & economics is numbers. Once the numbers don’t support the reason, I refrain from doing it or supporting it. This happened twice with my parents. Initially, my dad spent millions building a house in his village even when I cautioned him about the economic necessity for doing so. This was when 1$ = 100N and economic growth was largely positive. My reasons were based on numbers and geography. The closest town had little economic activities except the state capital which was kilometres away. But he decided to build; today, he cannot stay there as there is no economic activity. Waste of money, total waste. Same with my mom, also in her village which is too far from the state’s capital. Fortunately, we have enough to cancel out those losses. But imagine the economic calamity it would have on those who don’t have strong buffer systems? In both scenarios, the numbers didn’t support these investments (worth more than 10M excluding cost of lands). It would have been better they saved in dollars, which is another point. If you have nothing to invest your money due to lack of investment opportunities, little understanding, distance, current job etc., it is better you save the bulk of your money in a currency that is not highly susceptible to inflation & devaluation. Do not invest when the numbers don’t support the reason. Building a house in a place where you cannot lease or resell at a higher level makes no sense. Moreover, the so-called real estate investment in Nigeria is either misplaced or overrated. There are a lot of dead real estate investments in Nigeria (please Google “PwC Nigeria dead capital”. That is, they have no value whatsoever. Look at FESTAC, the infrastructure has deteriorated over the years to warrant investing there or whatever place in Nigeria where the infrastructure deteriorates rather than improve (largely due to the dysfunctional political leadership I mentioned earlier).

Others include: burial costs (the culture of spending huge amounts of money on burials when there is no economic benefit whatsoever is absolutely ridiculous!), buying of items one does not need etc. My advice remains: you reside in a place bedevilled with dysfunctional leadership (don’t hope for the best, rather prepare for the worst), it behoves on individuals to meticulously plan for themselves. Don’t leave things to chance.

This rings true on so many levels.

In addition to burial costs, you failed to include wedding costs (the culture of spending huge amounts of money on weddings when there's no economic benefit).

Lovely piece of writing overall.

Gerrard59:
Emotional Investments: This is investing when the numbers don’t support the reason(s). One of the things I have learnt to respect especially regarding finances & economics is numbers. Once the numbers don’t support the reason, I refrain from doing it or supporting it. This happened twice with my parents. Initially, my dad spent millions building a house in his village even when I cautioned him about the economic necessity for doing so. This was when 1$ = 100N and economic growth was largely positive. My reasons were based on numbers and geography. The closest town had little economic activities except the state capital which was kilometres away. But he decided to build; today, he cannot stay there as there is no economic activity. Waste of money, total waste. Same with my mom, also in her village which is too far from the state’s capital. Fortunately, we have enough to cancel out those losses. But imagine the economic calamity it would have on those who don’t have strong buffer systems? In both scenarios, the numbers didn’t support these investments (worth more than 10M excluding cost of lands). It would have been better they saved in dollars, which is another point. If you have nothing to invest your money due to lack of investment opportunities, little understanding, distance, current job etc., it is better you save the bulk of your money in a currency that is not highly susceptible to inflation & devaluation. Do not invest when the numbers don’t support the reason. Building a house in a place where you cannot lease or resell at a higher level makes no sense. Moreover, the so-called real estate investment in Nigeria is either misplaced or overrated. There are a lot of dead real estate investments in Nigeria (please Google “PwC Nigeria dead capital”. That is, they have no value whatsoever. Look at FESTAC, the infrastructure has deteriorated over the years to warrant investing there or whatever place in Nigeria where the infrastructure deteriorates rather than improve (largely due to the dysfunctional political leadership I mentioned earlier).

Others include: burial costs (the culture of spending huge amounts of money on burials when there is no economic benefit whatsoever is absolutely ridiculous!), buying of items one does not need etc. My advice remains: you reside in a place bedevilled with dysfunctional leadership (don’t hope for the best, rather prepare for the worst), it behoves on individuals to meticulously plan for themselves. Don’t leave things to chance.

It is well.

A well thought out and written piece; thank you, OP.

The rate at which the population of this country is exploding, I'm sure is giving sane people a cause for concern.

With millions of Nigerians gradually sliding into poverty unknowingly, the future looks painfully bleak for many Nigerians, especially the low income earners class, of which a large percentage of Nigerians belong.

The country's leadership needs to take a more aggressive approach towards the campaign for family planning, and not this passive approach currently in place. If push comes to shove, they might look at officially capping the number of children per individual/family or a similar drastic measure. Nigeria is a poor nation and cannot afford to support the population that would result from the imminent population explosion.

Enlightened individuals, on the other hand, should do well to pay attention to OP's list.

The battle against poverty is getting tougher.

God help us.

Ezeanna:
A well thought out and written piece; thank you, OP.

The rate at which the population of this country is exploding, I'm sure is giving sane people a cause for concern.

With millions of Nigerians gradually sliding into poverty unknowingly, the future looks painfully bleak for many Nigerians, especially the low income earners class, of which a large percentage of Nigerians belong.

The country's leadership needs to take a more aggressive approach towards the campaign for family planning, and not this passive approach currently in place. If push comes to shove, they might look at officially capping the number of children per individual/family or a similar drastic measure. Nigeria is a poor nation and cannot afford to support the population that would result from the imminent population explosion.

Enlightened individuals, on the other hand, should do well to pay attention to OP's list.

The battle against poverty is getting tougher.

God help us.

Actually, the government should not interfere in private people's affairs through reproduction. According to various demographers and in the Lancet link I referenced, high and consistent economic growth will drastically fertility rates through employment of women, education, rising incomes and increase in discretionary income - people will prefer to travel across the world rather than bore another child. It's why birth rates in Thailand, Malaysia, Vietnam etc., are projected to reduce or at best stabilise. Religion remains a strong factor, however, the richer a society becomes, the less religious her citizens.

Unfortunately, this economic growth is largely dependent on drastic political changes including constitutional, something our "Mushin vs VI" politicians aren't ready for. It's why individuals should not leave things to chance. This is not Vietnam or Myanmar where the leaders are at least concerned about economic growth.

Unnerve:

This rings true on so many levels.

In addition to burial costs, you failed to include wedding costs (the culture of spending huge amounts of money on weddings when there's no economic benefit).

Lovely piece of writing overall.

Thank you.

Regarding wedding costs, that was the man with four children I mentioned earlier complained bitterly about. I'll advise people who desire to get married to invest part of their earnings, allow it to compound and use the returns on the ceremony rather than present earnings (same with luxury items one fantasise of). I know it is easier said than done but think about the dysfunctional environment one resides in and the nonchalant attitudes of people we call our "leaders". Nigeria is not Malaysia or Singapore or even Brazil.

This is very expository, OP.

I shall never understand why people live to please other "people" when in return, they have so much more to lose. All these I must "pepper them gang".

You see these expensive weddings and unnecessary ceremonies that people spend exorbitant bills on amaze me. Just as you stated in your post, living a champagne lifestyle on a beer income. Snapping birthday photoshoot of 10K per shot. Buying hair of 100K when salary na 30K, organizing wedding of 2M when salary na 100K and some additional nonsense like that.

Or is it sending your kids to leave with numerous relatives and still having an entitlement mentality on top for training your kids? This one really eludes me. Sadly, these people don't learn, and then it becomes a vicious cycle. They just keep passing that mentality down as a " plague".