google.com, pub-3998556743903564, DIRECT, f08c47fec0942fa0 Nigeria: A Giant Trapped In The Body Of A Dwarf

Nigeria: A Giant Trapped In The Body Of A Dwarf

By Emeka Chiaghanam


Nigeria is often heralded as the "Giant of Africa," a phrase I heard growing up. However, back in the day, the phrase didn't sit well with my parents and most of the older generation; the economy was much better then. Fast forward to the present day, and the phrase stands as a paradox at the heart of the continent.

As the most populous country in Africa, boasting a population exceeding 200 million, Nigeria is endowed with vast natural resources, including some of the world's largest oil reserves. Its cultural richness, vibrant entrepreneurial spirit, and strategic geopolitical position further underscore its immense potential.


Beneath this facade of grandeur lies a stark reality of underdevelopment. Despite its abundant resources and human capital, Nigeria grapples with pervasive poverty, inadequate infrastructure, and systemic corruption. The very attributes that should propel it to greatness instead highlight a troubling dichotomy.


In Nigeria, the promise of prosperity and leadership seems perpetually out of reach, ensnared by a web of poor governance and mismanagement. This paradox is akin to a giant trapped in the body of a dwarf, where potential and reality are constantly at odds. The nation's story grows darker each day, overshadowing the promise and optimism of its early history. This disheartening tale of darkness overpowering light seemed unimaginable at the outset when hope and potential shone brightly. It serves as a painful reminder of how far the nation has strayed from its initial path, where progress and prosperity were expected to flourish.


Reflecting on the past, I recall how strong our naira once was; it was once considered a hard currency. I remember how some foreign expatriates preferred to be paid in naira rather than in their own currencies. Although we may not have had the best leadership and economic direction at that time, it was manageable.


In the 1960s, Nigeria’s political and economic indices surpassed those of most Asian countries, many of which have since left us behind, with the gulf widening by the day. In the 1950s and 1960s, Nigeria was a hub for medical tourism, with the University Teaching Hospital in Ibadan being a renowned destination. Even the Saudi Arabian royal family sought treatment there, highlighting Nigeria's advanced healthcare services and esteemed medical facilities during that era.


Today, Indonesia stands as the world’s largest palm oil producer and exporter, producing a staggering 36 million metric tonnes annually. Malaysia follows with 21 million metric tonnes, while Thailand and Colombia rank third and fourth, producing 2.2 million and 1.3 million metric tonnes, respectively. Notably, the oil palms thriving in Indonesia and Malaysia reportedly originated from Nigeria, specifically from Calaro Estate in present-day Mbarakom, Akamkpa Local Government Area of Cross River State.


Some argue that Indonesia and Malaysia did not source their palm fruits from Nigeria. While the oil palm tree, native to West Africa, including Nigeria, produces the palm fruits, the two countries' palm oil industries evolved independently of Nigeria's influence.


In 1960, Nigeria supplied 45 percent of the global palm oil market. However, this dominance has long been overtaken by Indonesia and Malaysia. Since the oil boom of the early 1970s, successive Nigerian governments have prioritized crude oil, resulting in the neglect and decline of oil palm plantations and the eventual collapse of oil palm estates. The focus on oil and gas is neither healthy nor sustainable.


Starting in the late 1970s, Indonesia strategically aimed to establish palm oil as a key source of foreign exchange. This focus remained unwavering despite the political instability that plagued the country over the years.

In October 2023, Indonesia launched its first commercial flight powered by palm oil-blended jet fuel. As the largest producer of palm oil, Indonesia is advocating for the broader adoption of biofuels to reduce its fuel imports and promote sustainable energy sources. Meanwhile, Nigeria grapples with adulterated palm oil and petrol scarcity.


In February this year, while appearing before the House of Representatives, the Governor of the Central Bank of Nigeria, Oluyemi Cardoso, stated that Nigerians spent over $40 billion to access education and healthcare abroad between 2010 and 2020. The Punch reported that Nigerians spent about N8.3 billion on foreign healthcare-related services between June 2022 and June 2023. Mr. Cardoso mentioned that the high number of Nigerians studying abroad and seeking medical treatment overseas are two of the major factors putting pressure on the naira. What happened to our education system that people now travel to neighboring countries like Benin Republic for studies?


Facing a crisis in the nation’s health sector, including a deficient primary healthcare system and inadequate facilities, many Nigerian leaders and politicians seek medical treatment abroad. However, it didn’t start with them. Former President Muhammadu Buhari frequently traveled abroad for medical treatment, spending over 250 days overseas along with his wife, Aisha, and son, Yusuf. Similarly, President Bola Tinubu and other political leaders also seek medical care in foreign hospitals.


The persistent question remains: why does a nation with such promise remain shackled by its leadership's recurring failures? Despite Nigeria's vast potential, its development is consistently stunted by poor leadership, transforming it from a "Giant of Africa" into a dwarf compared to its capabilities.


Nigeria’s gross leadership failures have far-reaching consequences, stalling economic growth, fostering widespread poverty, and driving talented Nigerians to seek opportunities abroad, many of whom do not return home, losing their roots and future generations. Our leaders often travel abroad, observe how efficiently things work, and enjoy the benefits of well-organized systems. Yet, when they return home, they fail to implement these positive changes in their own country. This mentality reflects a disconnect between their experiences abroad and their practices domestically.

What a mentality!


The consequences of poor leadership in Nigeria have resulted in economic stagnation, characterized by missed opportunities and hindered growth. The failure to effectively manage resources, rampant corruption, and inconsistent policies have deterred foreign investment and stifled domestic innovation, perpetuating cycles of unemployment, poverty, and underdevelopment across the nation.


Social disintegration in Nigeria due to poor leadership has exacerbated social divisions, increased crime rates, and undermined community well-being. The lack of adequate social services, rising inequality, and ethnic tensions have strained societal bonds, fostering a climate of distrust and instability that undermines national unity and progress.


Brain drain in Nigeria reflects the loss of educated and skilled individuals who migrate abroad in search of better opportunities. This exodus weakens local institutions, deprives the country of critical expertise, and impedes economic growth. It underscores the urgent need for reforms to retain talent and foster national development.


Nigeria's international image suffers from perceptions of untapped potential overshadowed by chronic leadership crises. Despite abundant resources and a dynamic population, persistent governance challenges like corruption and instability tarnish its reputation. Restoring credibility through effective governance reforms is crucial to realizing Nigeria's true potential on the global stage.


To unlock its full potential, Nigeria must confront its leadership challenges head-on. By implementing previously proposed solutions with renewed focus and collective effort, the country can overcome governance hurdles and move toward a thriving future.

 

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