In MTH 201 in FUTO, we studied L’Hopital’s rule or what some like to call Bernoulli’s rule. The rule does one thing really well: helps you evaluate limits of indeterminate forms. You differentiate the numerator; differentiate the denominator. Then, you take the limits. Just like that, a difficult problem has a path to a solution.
Look at this plot, you can see Nigeria’s problem. Our revenue has stayed largely flat over years when the expenditure (funding bureaucracy) has ramped up. As in business, when expenditure does not impact revenue growth, over time, you could be in trouble. Typically, you cut down expenses to address that imbalance and lack of correlation.
Nigeria’s future under this trajectory looks indeterminate and what that means is that Nigeria is not creating its future. And when a nation cannot create its future, it cannot predict it. You cannot have a linear growth under a parabolic expenditure and expect to have a stable future. (Enjoy calculus guys, I went to FUTO and studied under Prof Oyet and Prof Effiong, the finest breeds in calculus.)
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For the 2023 elections, the key issue is who can engineer growth. Sure, you can include expenditure but I do think that Nigeria does not even spend a lot of money, because it has no money (relatively) to spend. Our budget is off by $100 billion to what South Africa spends on a population less than 30% of our population. Someone needs to ramp up growth! And of course spend smartly to impact revenue.
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Comment 1: Nice Analyses Engr. Ndubuisi, always proud of you. Your evaluations were quite clear in your use of fundamental expressions. There is need to develop a good prediction model using the present economic reality to find the best measure to predict and address the future economic behavior in the country due to its uncorrelated characteristic. This will help for a better stability determination in the economy especially when it has to do with the income and expenditures even in a worst case scenario, otherwise, our economy will keep dwindling until it gets to a point of no recovery.
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