HOW CAN NIGERIA ESCAPE POVERTY? -THE MASTER KEY.

[Bitco55]

Nigeria is called the "Giant of Africa" - Africa's largest economy, with the highest population of over 237.5m citizens. According to the World Bank, it is one of the most culturally influential nations on earth. Yet, over 133m of its population live in multidimensional poverty, and at least 28% of its population, earning less than 2.15/day. Nigeria alone produces over 1.3- 1.5 barrels of oil daily, but still imports petrol due to inefficiency of the available refineries. Nollywood, literally the 2nd largest film industry in the world is worth about 48billion. Yet, the average actor still struggles financially. We spend billions importing food like rice and wheat when agriculture employs at least 35%of Nigerian citizens. Tech is booming here in Nigeria with smart creations like flutter wave and Adela, though broadband penetration and digital literacy remains low.

Over 70%of Nigerians are under 30 years of age, meaning the country has one of the largest streams of untapped potential, energy, labour and creativity in the world. So, why does a country with so much much wealth, talent and opportunities remain trapped in poverty? Nigeria's vast resources from oil and fertile land to the entertainment industry and technology, often end up underutilized. We call Nigeria the giant of Africa but giants don't sleep this long and they definitely don't sleep their way to greatness. Without strong leadership and smart investments, our strength and opportunities would turn into and become wasted chances leaving us stuck in poverty. If even half of this potential were properly harnessed, with the right policies and infrastructure, it could lift millions out of poverty.

With all that has been said, I'd really love to hear your thoughts on this. Say, if you became the president of Nigeria today, what's the 1st bold economic step you'd take to break the country out of poverty? Would you;
-Invest heavily in agriculture and food security?
-Push for massive industrialization?
-Start from education and skills training for the youths?
-Build tech powered economy? or
-Start from fighting corruption and fixing governance?

[Barikui1]

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With all that has been said, I'd really love to hear your thoughts on this. Say, if you became the president of Nigeria today, what's the 1st bold economic step you'd take to break the country out of poverty? Would you;
-Invest heavily in agriculture and food security?
-Push for massive industrialization?
-Start from education and skills training for the youths?
-Build tech powered economy? or
-Start from fighting corruption and fixing governance?

First of all, I want you to understand that you can't eradicate poverty completely, it can only be reduced to the bearest minimum, even in developed nations, not everyone are rich, their are also poor people in the society, so thinking that poverty can be eradicated completely in the society is something that can never be achieved around the world because some individuals are just too bad at managing and controlling their finance.

Then as for the activities listed down above, all are quite valid, all can be done, but as a nation, you have to look for your strength and go for it, we are already an oil giant in the world economy, so we just have to build more refinery that is being run by the state and do it ourselves than sending it out to be refined for us and later buy it at a higher cost, and since it's our biggest strength, we have to use it well to our advantage like Russia and Saudi Arabia.
Then as for other sector like agriculture, tech and others, we just have to expand what we already have in the country, and I believe that more jobs can be created through them all if we can get it right.

[Tonimez]

Nigeria is called the "Giant of Africa" - Africa's largest economy, with the highest population of over 237.5m citizens. According to the World Bank, it is one of the most culturally influential nations on earth. Yet, over 133m of its population live in multidimensional poverty, and at least 28% of its population, earning less than 2.15/day. Nigeria alone produces over 1.3- 1.5 barrels of oil daily, but still imports petrol due to inefficiency of the available refineries. Nollywood, literally the 2nd largest film industry in the world is worth about 48billion. Yet, the average actor still struggles financially. We spend billions importing food like rice and wheat when agriculture employs at least 35%of Nigerian citizens. Tech is booming here in Nigeria with smart creations like flutter wave and Adela, though broadband penetration and digital literacy remains low.

Firstly, I would like to bring to your notice that Nigeria lost it's place as the largest Economy in Africa since long ago and that shows there's a cumulative decline in the economy of the country. South Africa is currently the largest economy in Africa with over $410B GDP followed by Egypt with over $385B GDP, Algeria is at third place with over $267B GDP and then comes Nigeria at the 4th place with just $188B GDP, less than half of South Africa GDP even though the country has population of 64 Million far less than half the population of Nigeria.  The problem of Nigeria is political of which the politicians due to their own selfish interests prefer tarnishing the economic strength of the country for their personal gain. How would you describe that Algeria with a population of just 46 million still sits above Nigeria when it comes to GDP?

It is all political, this is a country where leaders cause confusion amongst the masses with political bigotry or tribal sentiments causing problem to their coexistence which directly affects productivity both Agriculturally and Technologically. Communal clashes has killed the agricultural sector and put fears among the local farmers who can no longer go to farm safely. Bad roads and basic amenities also influence the Agricultural sector. Insufficient Electricity supply is killing the industrial sector and multiplying their production costs daily. International companies are leaving the country due to unfavourable government policies.

All these pose a threat to the economy of which even if individuals decide to act on their own, there's no government backups that would guarantee success of the individual ventures.

Over 70%of Nigerians are under 30 years of age, meaning the country has one of the largest streams of untapped potential, energy, labour and creativity in the world. So, why does a country with so much much wealth, talent and opportunities remain trapped in poverty? Nigeria's vast resources from oil and fertile land to the entertainment industry and technology, often end up underutilized. We call Nigeria the giant of Africa but giants don't sleep this long and they definitely don't sleep their way to greatness. Without strong leadership and smart investments, our strength and opportunities would turn into and become wasted chances leaving us stuck in poverty. If even half of this potential were properly harnessed, with the right policies and infrastructure, it could lift millions out of poverty.

Nigerian youths are very innovative and creative globally and they rule almost every sector. The problem is that our politicians don't want to see a youth doing well on his own, they believe that starving everyone would bring more loyalty to their government. There has been several laws they use to frustrate every growing talent in any youth and frustrates others into staying idle. The famous streamer Peller recently received a tax bill of about #36 million from the Lagos state government. This is someone who struggled through poverty to get to the limelight without any provision from the government. Just because they now think he's doing well, he has been mandate to pay such a tax or risk jail term.  Dangote has faced a lot of challenges too because of his local refinery because these leaders think he's trying to block their own source of looting our funds with their foreign refineries. This is not supposed to be, in a right thinking country, he would be supported and he would end up giving out more jobs to the society which would benefit more Nigerian citizens. Youths who go into the crypto society to harness the resources there are chased around by the security agencies everyday. So it would be nice to respect the Nigerian youths who struggle through this bad governance daily trying to make ends meet.

With all that has been said, I'd really love to hear your thoughts on this. Say, if you became the president of Nigeria today, what's the 1st bold economic step you'd take to break the country out of poverty? Would you;
-Invest heavily in agriculture and food security?
-Push for massive industrialization?
-Start from education and skills training for the youths?
-Build tech powered economy? or
-Start from fighting corruption and fixing governance?

The earlier everyone understands that no body is coming to save you the better for us. There's no safety for farmers on the farm, no light for the industrial sector, poor education system, Tech enthusiasts seen as fraudulent, and the lingering corruption. How do we start, the more you look, the less you see. Nigeria shall be great again, but things definitely start changing from the polls. Until the right leaders are allowed to get into power, things would continue to go wrong. I would contribute my quota at all time, but will the government give you the platform to survive?? We need to change the mindsets of our people in order to change the output of the polls because South Africa, Egypt, Algeria all got to that height of economic strength with the right leaders who give the right economic reformation. Nigeria shall be great again!!!

[Donk1]

I will  like you to go and read on Thomas Malthus He was an economist and In his theory, he said that in a country poverty cannot be eradicated and the government should not be blamed for it because it's a part of life that can't be eliminated No offense I still blame our government sha but Even if maybe the government adapts to this solution you offered it doesn't mean that in the entire Nigeria there would be no poor person Like you said Nigeria has a high population right That is the thing If you still read on Thomas's theory you will still see when he said that the moment a population of a country starts to increase at a very high rate there will be poverty So for me I don't believe that poverty can be eradicated form Nigeria entirely  even if the economy changes one day there will still be poor people.....

[Yablee0]

-Invest heavily in agriculture and food security?
-Push for massive industrialization?
-Start from education and skills training for the youths?
-Build tech powered economy? or
-Start from fighting corruption and fixing governance?

It's difficult to believe that our country way back the greatest of all in Africa has been something I couldn't tell anymore, Nigeria is well blessed with young talented people, natural resources name it, but our bad leaders are the rooted problem we are having,  if our leaders can put corruption aside and do the needful everything we just be OK.

Until what is in the beans eating it is been fixed, the beans will keep on having issues, till our system of government is been fixed in every sectors it might concerns things will still remain the way it is.


However, giving the younger generation the opportunity to rule would have been a great idea because it obvious that the advance folks has failed us.

[Faazs]

Nigeria is currently a mess now, but no matter how difficult it may seem to be, Nigeria can overturn this current situation, it does require rocket science or magic. First of all we have to change the way we think from the lowest classed citizen to the higher class, this country is suffering from a high population of corrupt minds, plus the level of greed is outrageous everybody is just accumulating wealth that might not be even useful to them, stealing public funds even from the lowest class up to the political class. In foreign climbs it's not that they don't steal money but they make sure that their citizens needs are met and make sure what they are taking will not have a significant effect on the populace but when you come to this part of the world, you see people looting public funds for fun at the detriment of their citizens they don't care  and this does not extend only to the reach folk but to the poor too the mindset is bad everybody is trying so hard to swindle people of their hard earned money.

✓So we have to work on our mindset before we even start thinking of applying the normal basics for development and growth. The keyword is changing how you think and be your brothers keeper.

[Emjay24]

Nigeria is called the "Giant of Africa" - Africa's largest economy, with the highest population of over 237.5m citizens. According to the World Bank, it is one of the most culturally influential nations on earth. Yet, over 133m of its population live in multidimensional poverty, and at least 28% of its population, earning less than 2.15/day. Nigeria alone produces over 1.3- 1.5 barrels of oil daily, but still imports petrol due to inefficiency of the available refineries. Nollywood, literally the 2nd largest film industry in the world is worth about 48billion. Yet, the average actor still struggles financially. We spend billions importing food like rice and wheat when agriculture employs at least 35%of Nigerian citizens. Tech is booming here in Nigeria with smart creations like flutter wave and Adela, though broadband penetration and digital literacy remains low.

Nigeria produces an average of 1.71 million barrels per day as at July update. The average Nigerian should be earning #70,000 minimum wage, but this excluded those working in private firms who are paid peanuts especially those without trust education who struggle for meager works and are greatly underpaid and as such live in serious poverty.

With all that has been said, I'd really love to hear your thoughts on this. Say, if you became the president of Nigeria today, what's the 1st bold economic step you'd take to break the country out of poverty? Would you;
-Invest heavily in agriculture and food security?
-Push for massive industrialization?
-Start from education and skills training for the youths?
-Build tech powered economy? or
-Start from fighting corruption and fixing governance?

The first thing I'll do as the leader of Nigeria is withdrawing all police personnel's from private service and reinstating them into public service which they're supposed to be, thereby having more personnel to fight insecurity,  furthermore I'll reform the security networks with updated salaries and allowance and impose stringent punishment for any force man seen collecting bribes.

I'll sustain power in the country and make sure people enjoy adequate power supply to help them live a happy life, then I'll strength industrialization and sports and encourage agriculture with good incentives for farmers.

Finally, I'll stop importation of most finished products and return Nigeria to the producing nation it once was after cutting all ties with the EU in Nigeria.

[Bitco55]

I will  like you to go and read on Thomas Malthus He was an economist and In his theory, he said that in a country poverty cannot be eradicated and the government should not be blamed for it because it's a part of life that can't be eliminated No offense I still blame our government sha but Even if maybe the government adapts to this solution you offered it doesn't mean that in the entire Nigeria there would be no poor person Like you said Nigeria has a high population right That is the thing If you still read on Thomas's theory you will still see when he said that the moment a population of a country starts to increase at a very high rate there will be poverty So for me I don't believe that poverty can be eradicated form Nigeria entirely  even if the economy changes one day there will still be poor people.....

First of all... Thanks for the referral, though Thomas Malthus isn't a book, neither is it a theory, but sure, I'll check it out. Secondly, no one said anything about eradicating poverty. The topic and content written clearly uses the word 'escape' and I'm pretty sure a country escaping poverty isn't impossible. Thirdly, Nigeria's population being a reason why it can't become developed is a sorry excuse. I agree, Nigeria is highly populated, but by your logic, USA ought not to be developed either. Population isn't a curse or setback, it's a literal strength. Sure, more mouth to feed, but more hands on deck, more brains, ideas and creativity on the table. Nigeria's problem is not population oo, it's system. A large population should  actually make Nigeria not just an African giant but a global giant. The system; the government, their policy, underutilization of resources, whatever exactly it is, keeps fvcking us up. So this population based argument, I'm sorry, but like I said, it's just a sorry excuse.

[Juicyhome]

First, you have to trace the cause of poverty in the Nation before you can provide the solution. Nigeria before independent was mainly exported of Agricultural products like Coco,maize,kola and others to the world. It was the larger nation of raw Agricultural products. At that time every family was basically into farming, they was enough food for the family and enough for business, then the Richest men in the land was based of your farm land and what the farm can offer to the market. There was absolute zero tolerance for laziness, every family was having enough to eat and to sell to sustain the family. This period the Nigerian government was so rich and they offer help to other part of Africa, many Africa countries was looking up to Nigeria for loan and food.

Until 1958, when oil was discovered, attention of the government shifted from agriculture to oil firm, the farmers was not longer getting government support for fertilizer and other incentives. Many Nigerians left farming and follow the oil thread, hungry and poverty that were not  common in the country started because the oil work was not enough for all. The government was not longer interested in agriculture because at then the oil sector was booming and they have enough money to steal. This is the root of poverty and hunger in Nigeria.

Solution, it's a shame that an oil exporting country like Nigeria doesn't have a working refinery, the first thing I'll do is to declare state of emergency on the existing refinery,this will create enough jobs for the Youth, then I will focus more on agriculture to reduce hunger in the Land, by making it mandatory for all Governors and LGA chairmen to shift attention to farming. With  these the CV country poverty rate will reduce drastically.

[yixichloro2xx]

Honestly, if I was president the first thing I will fix is corruption and governance. Without that, no matter how much we put into agriculture, education or tech, it will still leak away. After that,  i will go heavy on agriculture. A country with fertile land shouldn’t be importing basic food. Once people can eat, you reduce poverty directly and also free up money for schools, healthcare and industry.... Also in terms of transportation I will reduce the  transport of goods and services on road through with the use of railways that will connect every Corner of the country as it save fuel, cost and any form of accidents....

Nigeria has the resources, but what we lack is discipline and leadership to channel them. Fix those two and the rest will follow.

[Marvelockg]

if you became the president of Nigeria today, what's the 1st bold economic step you'd take to break the country out of poverty?

Even though all the things you've outlined are good, the reality still remains that as a president, you're going to inherit a lot of things both the ones that are good and the ones that are bad and those will not give you the ability to start up your own governance at the negligence of them. As a matter of fact,  if you neglect the things your predisesor has handed down to you either in the form of asset or liability, you're going to end up creating your own legacy that another will come to abandone just like you did.

The issue we've always have is that we lack continuity but rather prefer to come up with our own idea just so we make it look like we are better than our predisesor. Any president or government that just sets up his strategy without looking at what the predisesor has done will lead the country into another kind of poverty.

[Frankolala]

Whenever, I flash back at when I still in secondary school, I feel bad and see a lot of wasted opportunities back days that our leaders have failed to take advantage of and improve the country economy. China was the third poorest country at that time because of over population but look at China currently, they took advantage of their population and improve their country economy by sending their children to study in the US and bring back that knowledge back to the country for development.

[Pi-network314159]

With all that has been said, I'd really love to hear your thoughts on this. Say, if you became the president of Nigeria today, what's the 1st bold economic step you'd take to break the country out of poverty? Would you;
-Invest heavily in agriculture and food security?
-Push for massive industrialization?
-Start from education and skills training for the youths?
-Build tech powered economy? or
-Start from fighting corruption and fixing governance?

Well let me start by saying that our poverty is coming from our leaders and not the citizens. We are really the giant of Africa as the name implies but the economy is making it looks as if we are not trying. If you check the numbers of Nigeria people going to work outside the country, they are doing ok pretty well. Meaning that if the government of our country set a standard like this country we rush to go then our economy will be good. All I have to say is that our leaders just plan this poverty for the masses to remain in outreach poverty devaluating out currency. Instead of we to produce goods and sell to foreigners we instead import Goods how can a country that depends on importation of almost everything grow economically. They are doing this for their selfish interest to make profit but making our currency to reduce in value. Our government take loan from foreign countries without a hope of payback without no concrete results of why the loan was taken. A country with numerous Dept can't grow. The problem is that if you become a new president elect today, you must follow their pattern otherwise you might be kicked out. They know the game they are playing. If not they way forward is simple

1 they should pay off outstanding Dept and Totally avoid taken new one.
2. They should empower youth to go onto agriculture

3 they should train the youth on various skills and open large factory where they will be productive and the goods produced will be exported and we received dollar in return, making the economy grow in finance and when the economy begins to grow, the NGN fiat currency will strengthens against dollar. The higher the inflation the poorer the country, The higher the productivity the higher chance of deflation.