Nigeria - A Parable of Prodigality

From Emergent Africa Sun Jan 27 2013, 14:00:00

Excerpted from Oby Ezekwesili's convocation lecture at the University of Nigeria:

Nigeria is a paradox of the kind of wealth that breeds penury is as widely known as the fact that the world considers us a poster nation for poor governance wealth from natural resources. The trend of Nigeria's population in poverty since 1980 to 2010 for example suggests that the more we earned from oil, the larger the population of poor citizens : 17.1 million 1980, 34.5million in 1985, 39.2million in 1992, 67.1million in 1996, 68.7million in 2004 and 112.47 million in 2010! This sadly means that you are children of a nation blessed with abundance of ironies. Resource wealth has tragically reduced your nation- my nation- to a mere parable of prodigality. Nothing undignifies nations and their citizens like self-inflicted failure.Our abundance of oil, people and geography should have worked favorably and placed us on the top echelons of the global economic ladder by now.More here

via YNaija

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