Thursday, 1 August 2013

WHY NIGERIA IS POOR


Why Nations Fail by Daron Acemoglu & James Robinson
Preface page 2
'...Nigeria is poor precisely because it has been ruled by a narrow elite that have organized society for their own benefit at the expense of the vast mass of the people. Political power has been narrowly concentrated , and has been used to create wealth for those who possess it. The losers have been the Nigerian people.'
First a confession. The quote above had Egypt in it but it could have been Nigeria. What do the following billionaires have in common: Emeka Offor, Arthur Eze, Andy Uba, Otedola, Bola Tinubu, Otunba Fasawe, Dangote, Sayyadu Dantata, Mai Deribe? Each of them became a billionaire because they or their friend was in Government.
How do you become President or Governor in Nigeria? The incumbent has to support you or a godfather economically stronger than the incumbent has to bankroll you in return for future 'tithes'.A narrow elite that have organized society for their own benefit!
If one agrees with the above problem definition then the suggestions on how to move Nigeria forward should be drastically different from the ongoing noise online and offline
Written by Joe Atueyi
Post a Comment