Categories: Lifestyle

How To Unlock Nigeria’s Potential

Fifty-five years ago today, Jaja Ndubuisi Wachuku (pictured below) became the first indigenous Speaker of the House replacing Sir Frederic Metcalfe of Great Britain. Wachuku received Nigeria’s Freedom Charter from Princess Alexandra of Kent, the United Kingdom representative at the independence ceremonies. After obtaining its independence and emerging as a Republic in 1963, Nigeria endured decades of political, social, and economic unrest. In 1999, Nigeria democratically elected a president and abandoned military decrees for a constitution. Sixteen years and four democratically elected presidents later, Nigeria is far from unlocking it true potential. Corruption, a dilapidated infrastructure, chronic unemployment, a failing educational system — and above all — short-term oriented policies stifle its growth potential.

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Is Nigeria doomed to fail?

I unequivocally disagree. Nigeria has the potential to be one of the greatest countries on earth. To reach its full potential, though, a new wave of investment is needed to set the foundation for sustainable growth.

The Investments that are needed include, but aren’t limited to, education, health, and infrastructure.

Education

Nigeria is the most-populous country in Africa and accounts for about 18 percent of the continent’s total population. In fact, today, one in four Africans is a Nigerian. Presently, Nigeria is also the seventh most populous country in the world. Estimates from 2006 claim that 42.3 percent of the population is between 0 and 14 years of age, while 54.6 percent is between 15 and 65.

Disgracefully, 68 percent of the population is illiterate.

Nigeria must devise a comprehensive action-oriented strategy that invests in education. The nation needs to go back to seeing education as an investment in the future. Good public schools, good public universities, and effective technical training can give the country a workforce better than any in Africa. A well-trained workforce would give it a formidable and competitive advantage. Investments in its people pay the highest dividends and must become one of its highest priorities.

Health

The health system of any country is quintessential to its development. In 2014, life expectancy in Nigeria was 52.62 years on average. Equally, more than half of the population has access to potable water and appropriate sanitation. In 2010, the Infant mortality rate was at 8.4 deaths per 1,000 live births.

Smart investments in the health system should be an important fabric of Nigeria’s public policy. Nigeria should be a leader in health innovation that produces new products and new industries, and this untapped industry has the potential to create new jobs in the economy. Increasing support for this sector helps Nigeria set a solid foundation for the future.

Infrastructure – As of 2015, Nigeria is the world’s 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively. It overtook South Africa to become Africa’s largest economy in 2014; however, amid this rapid growth, the country’s infrastructure is crumbling and, in some cases, non-existent.

Nigeria needs to upgrade its aging roads, bridges, railways, water, sewage lines, and port infrastructure — the basic components needed to manufacture goods and get them to market. Nigeria should invest at least 60 percent of the GDP on smart infrastructure.

Education, health, and durable infrastructure are the solid foundation needed to unlock Nigeria’s potential. On Thursday, Nigeria celebrated its 55th independence with modest progress, but there’s still a lot of work to be done to unlock its full potential.

It’s difficult to bring about real change or think about the future when the country has a stubborn status quo. Therefore, I urge Nigerians to have a deep sense of economic patriotism and ignore the convenient stance of cynicism.

Wemimo Abbey

Abbey Wemimo is the founder and CEO of Clean Water for Everyone (CWFE), an organization that provides access to clean and affordable water supply in developing nations by working with local people and organizations to achieve positive and measured social, economic, and environmental impacts. CWFE has provided access to clean water for over 48,000 people, built/renovated 12 toilet facilities, and awarded 51 scholarships (60% to girls) in Ghana, Nepal, and Nigeria. Abbey is a fervent advocate of education and believes it should be the paramount investment in any child’s life as it empowers and expands the intellectual frame of reference. He envisions a prosperous future for Africa led by a new generation of educated, empowered, and ethical leaders. Abbey graduated with distinction (Magna Cum Laude) and holds a Bachelor's of Science degree in Business Management from the University of Minnesota Crookston. He is currently enrolled in a Master of Public Administration and Non-Profit Management with International Public Finance focus at New York University’s Robert F. Wager School of Public Service.

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View Comments

Charly Buxx says:

October 2, 2015 at 8:38 pm

Interesting article.. these things are all well and good but I feel you've placed the cart ahead of the horse here mate.

These are major development that come as a result of an unlocked potential. We all agree we need to invest in education, health and infrastructure but the real question here is how do we make these things happen?
- What are the real barriers acting against us as a nation (and please don't say corruption as this is an effect not a cause)?
- what other nations are we comparable to and how have they managed to turn around their fortunes ?

These I feel are the real questions to answer in order to "unlock " Nigeria's potential.. Happy Independence Day !