A recent report by Insider Monkey showed that Nigeria is not among the list of 12 most advanced countries in Africa. According to the report titled, “12 Most Advanced Countries in Africa”, Africa is one of the richest continents in the world in terms of natural resources. Ironically, it is also one of the least developed regions in the world. The countries that made the list made good use of their natural resources to improve their economy. Such countries are Ghana, Zimbabwe, Egypt, Morocco, South Africa, Cote d’Ivoire, Tanzania, Senegal, Botswana, Tunisia, Kenya and Namibia.
To arrive at its report, the group consulted the World Intellectual Property Organisation’s (WIPO) Global Innovation Index to sift out the most advanced countries in Africa out of the 56 sovereign countries that are members of the United Nations. The report says Cote d’Ivoire, for instance, relies primarily on agriculture, and exports such products as cocoa beans, gold and petroleum products. It has, therefore, boosted its economy to $173 billion Gross Domestic Product (GDP) in terms of purchasing power parity.
Another country, Namibia, though relatively a small country with $26 billion economy, reportedly has a strong manufacturing base. Government is said to offer subsidies to small and medium enterprises and opens export processing zones. Due to its small population, it has a high GDP per capita of $10,448. “The country also has an automotive parts supplier for big ticket car companies such as BMW, Audi, and Opel. It also has diamond cutting and polishing factories,” the report noted.
Ghana, with a $226 billion GDP, is said to have a developed manufacturing sector with its major exports being gold, cocoa beans and crude oil. Ghana reportedly makes its own phones, electronics and even electric cars.
It is unfortunate that Nigeria, touted as the giant of Africa, is not on this list. Almost all the countries on the list are no match to Nigeria in terms of abundance of natural and human resources. What we lack is the ability to harness our resources and turn them into profitable ventures.
Over the years, we have been a consuming nation rather than a productive one. Agriculture was once the mainstay of our economy. There was groundnut pyramid in the North, cocoa in the South-West and palm oil in the South-East. Each of the regions engaged in healthy competition such that the economy boomed. It was then that Malaysia borrowed palm seedlings from Nigeria. Today, Malaysia is ahead of Nigeria in palm oil production.
The advent of crude oil worsened our situation. Most people abandoned agriculture and went into the oil business. Money flowed into our national coffers but we did not know what to do with it. We engaged in an importation spree and did not bother about engaging in productive ventures that will earn us more revenue.
Even the proceeds from oil, which is our main export, are not well accounted for. Oil theft has cost the nation billions of dollars in revenue. Now that oil business is no longer what it used to be, the nation has been struggling to keep afloat.
At the root of our problems as a nation is leadership deficit. Right from independence until date, we have not been lucky to have competent, selfless leaders who will drive the nation to a desired destination. For most of our leaders, all they are after is grabbing the wealth of the nation for their selfish interests.
At some point, corruption became so rife in the country. Even now, despite President Muhammadu Buhari’s vow to tackle the monster, it has continued to fester. The suspended Accountant General of the Federation, Ahmed Idris, was alleged to have siphoned N109billion of state funds. So far, he has only refunded N30 billion. Up until date, Nigeria is still trying to recover what has come to be known as the Abacha loot in different parts of the world. The late Gen. Sani Abacha was a former Head of State who ruled with iron fist and stashed a lot of state resources to his personal accounts abroad. He was not the only corrupt leader, just that his was more visible.
A combination of corruption and leadership failure resulted in the crippling of our economy. It affected the provision of critical infrastructure, such as power, roads and railways that can ease the burden of doing business in Nigeria. Consequently, many companies relocated elsewhere. Many others folded up.
This worsened the spate of unemployment, which is conservatively put at over 33 per cent. It worsened the spate of poverty and hunger. Insecurity has also risen to unbearable level. With all these negative indices, it is not surprising that the country failed to make the list of 12 most advanced countries in Africa.
What we need now is effective leadership that will galvanise the country into a productive and disciplined nation. This is what helped Singapore, Malaysia, Indonesia and other Asian Tigers. That is what is going for Morocco, Egypt, Ghana, South Africa and the rest.
This is why the year 2023 is a defining one for Nigeria. It is the year of our general election. It is incumbent on Nigerians to discard every primordial sentiment and vote for candidates who are tested, competent, selfless, and patriotic. We cannot afford to fail again this year.
