V-Shaped Recovery for Nigeria
Nigeria's economy grew at 0.11% last quarter, according to Bureau of Statistics: "Nigeria’s Bureau of Statistics revealed on Tuesday that Nigeria reported a real GDP Growth rate of 0.11% for the fourth quarter of 2020, the first time following three consecutive quarters of negative GDP growth rate." Simply, Nigeria is growing again after Covid-19 triggered GDP declines.
Below gives the historical GDP numbers for Nigeria. Have you noticed that a fall in GDP in Nigeria follows more social paralyses? Largely, if we grow the GDP at 6%, some of the issues in the nation will just go away. With population growth rate averaging 3%, the GDP must not be below 3% to avoid scaling poverty in the land. National Bureau of Statistics data seems to be on the money - believable. Any growth rate below 2% has shown more pockets of criminal activities across the nation.
Uploaded files:
You cannot preach on virtues and good conduct to people who are hungry and desperate, the message won't sink.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
The problem is that the hunger and poverty aren't evenly distributed, that would have helped to arrest the situation quickly.
The president and his family will get their three square meals, with other paraphernalia, but if we have a system that can ration his meal to once a day, same for national assembly members and judiciary, until the economy improves; everyone would have been working day and night to improve it.
The system is rigged, and when the small guy sees that he cannot vent his anger on those feeding fat in his predicament, he ends up venting it on those suffering like him; that's what we have now.
It's chaotic, and those who claim to be in charge have lost touch with reality, long time ago.