1 of 3

Write now Article Tools

Nigeria can be a sad and sickening place,even though it is the most populous black nation in the world-popularly referd to as the heart beat of Africa'.
By 2014,Nigeria would have been existing for 100 post-colonial years as a nation vide the 1914 amalgamation by Lord Lugard.However,with seven years away from becoming a century old nation,the physical aspects of Nigeria,it's politics,resource management,people,their culture and attitudes still remain ingrained,in tertiary terms,primitive overtures and overly displeasing.

In 1865,Washington DC had no electricity.But in 1894,the Lagos power station was,one of the first inWest Africa,was established.In more than 100 years electricity made its presence in Nigeria,the country's leadership cannot boast 20 percent electricity supply to its more than 120 million people.
As at today,no Nigerian bank has the power lending unit to help further boost the oil and gas sector,hence refined oil had to be re-imported back from Europe back to Nigeria because there are just few functioning refineries here,with the help of the federal government's subsidy to cushion the effect of high prices to be paid by vehicle owners.And most annoyingly,some banking laws in Nigeria preceeded US banking laws because Nigeria got its banking footing from the United Kingdom via Barclays and Standard banks until the 1970s when the indegenisation decree nationalized its existence,and it became Savannah bank of Nigeria.
In 1985,my father paid 768 naira, then an equivalent of nearly $1,280,to fly from Nigeria to Dallas.Naira was exchanging at 60kobo to 1 dollar{100 kobo makes 1 naira}.Today,the naira has lost both its luster and as well as backing,although nothing backed it then.Today,the naira exchanges at 135 naira to 1 dollar.If in less than 20 years,the naira had a free fall and today's government boasts of having more than $20 billion in foreign reserve,the naira has not made any significant move against the shilling or/and thedollar.The condition of SouthKorea after its war was worse than Nigeria's after the civil war that ended in 1970.Today,South Korea and China have more than a trillion dollars in foreign reserves,the first time in the history of the world financial trend that any nation{s} achieved such fate.Both countries in the 70s produced nothing and whatever they did produced was laughed at.But we now know their positive and intimidating stories..
In the 80s,while nothing backed the Nigerian naira,the desire of the Nigerian people to be self-sustaining and develop Nigeria as a true giant of Africa,and an emerging developing nation,spurred foreign direct investment.It should be of note that in the late 70s and 80s,some major auto makers had auto assembly plants in Nigeria,the biggest steel industry in Africa {ajaokuta steel complex} was the envy of the world,but today they lie domant.
It is unbelievable and unimaginable that all these things had happened as a result of neglect,corruption and selfish past military rulers of the country .

Learn more about this author, Tunde Adelakun.
Click here to send this author comments or questions.

Add your voice

Know something about Nigeria needs help to progress?
We want to hear your view. Write now!