Why is this economy always seen from two diametrically opposing perspectives? Government operatives and those who are close to the corridors of power see it as a cup that is half filled but ordinary Nigerians insist it is a half empty jar. Some analysts insist that the two sides are only describing the same scenario in differently. However, none of the two opposing sides will agree to adopt the others’ adjective.
Agencies of government continue to reel out impressive figures about growth but Nigerians are not seeing this translated into development. One thing is clear however. The United Nations appear to be on the side of Nigerians that growth without development is what we have had in Nigeria in the last few decades. The economy has grown at close to seven percent over the last decade and more but it certainly is not as fast as population growth.
In March 2014, Nigeria was officially acknowledged as the largest economy in Africa overtaking South Africa to become the continent’s largest economy following the recalculation of GDP. But it remains less developed and more unequal than its southern rival. The size of the economy is now estimated at $509.9 billion, 89% larger than previously stated for last year.
When President Goodluck Jonathan was elected, unemployment was 21 percent but three years later, it had climbed to almost 24 percent.
The West African Examination Council (WAEC) last month released results for the Senior School Certificate Examination with just about 30 percent having credit in English Language and Mathematics.
Insurgency continued to rage in the North East and North West of the country with an addition of Ebola pandemic introduced deliberately by late Liberian/American Patrick Sawyer.
In 2000, the world converged to help the third world meet certain minimum human development standards in the form of Millennium Development Goals. It is to run for 15 years and since then, Nigeria has devoted billions into meeting these targets. When stakeholders gathered in Abuja last month to see how far, it was concluded that we were still far behind with human development indices much in the negative.
On the monetary policy level, it is a season of reversals as many of the policies introduced in the five years that Sanusi Lamido Sanusi held sway. Now, bank customers have to withdraw money only from automatic teller machines owned by their banks else, they will pay for the service.
Concerning electricity, it was from frying pan to fire for consumers. The new owners are contented with the free money in the form of fixed charges government has compelled consumers to pay without getting service. And if they will make billions for not putting in anything, what will be their impetus to improve service delivery?
The problems Nigerians face is compounded by the fact that most Nigerians never know any better. Things get worse with every succeeding government and that is why citizens are coming to accept that things may not be better after all.
As we say in Nigeria, e go better!
