The Former Minister of Education, Dr. Oby Ezekwesili has reeled out some figures to depict the sorry state of Nigeria with respect to her GDP Vs Singapore, Uk taken in cognizance.
She wrote below ”
” In God I trust, everyone else, please bring your Data.
GDP PER CAPITA which is a proxy that indicates the prosperity of countries and therefore the state of wellbeing of their Citizens:
Singapore $82,807.63 USD 2022
United Kingdom $46,125.26 USD (2022)
Nigeria
$494.13 USD
(1999)
$1,876.41 USD
(2007)
$2,162.63 USD
(2022)
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Singapore which started off the Development Journey about the same time in the 60s as Nigeria has achieved almost the double of the GDP per capita of the colonist- country, United Kingdom.
As for Singapore versus Nigeria? Well, their GDP per capita is about 40 times ours and nothing explains this better than the BIG contrast in Quality of Governance.
Meanwhile, though from a low base, Nigeria did actually quadruple her GDP per capita between 1999 and 2007
So in 2007, seeing that the GDP per capita of Nigeria was 1,876.41 USD and 15 years later in 2022, it was 2,162.63 USD, is it not obvious how terribly, Bad Governance has delivered to Nigerians?
Do you know what Nigeria’s GDP per capita was at the end of 2023?
It was $1,688 USD in 2023.
Now imagine what Nigeria’s GDP per capita will be by the end of 2024.
Remember all the times we warned about unsound economic policy direction while administrations and their ignorant allies mocked?
The terrible scorecard is here and worsening daily.
The poorer segment of our population are so undeserving of these consequences of Bad Governance.
That’s the painful reality. And there are now no easy answers…….✍🏾✍🏾✍🏾
– Oby Ezekwesili