For many years, forces from outside Nigeria have played lots of deceitful roles in the economic development of the country. This is why Nigeria’s economy remains at a stagnant level. It would be difficult for the economy of Nigeria to have steady growth because the country depends on loans from outside Nigeria, making it very impossible for Nigeria to have a clear-cut direction of her own. This is because the International Monetary Fund (IMF) and other international financial institutions that lend money to Nigeria would sit at their comfort zones and begin to advise the country on how to run its economy. The International Monetary Fund is now advising Nigeria on issue of subsidy removal because they seem to have a stake in the Nigerian economy. If the government of Nigeria would learn to have her affairs conducted properly by making sure that the economy of Nigeria is moving in the right direction, then the IMF and other financial institutions of the world would not have the opportunity to keep on telling the government of Nigeria on how to run the affairs of the country. As we speak now, the debt owed by Nigeria has reached over 44 trillion Naira as alleged. If you look within the country, no one would categorically mention where and how such a huge amount of money was spent. Perhaps the government of Nigeria borrowed for consumption purposes which is bad. If you have to borrow money, it should be for investment purposes that would create jobs and bring growth into the economy of Nigeria. Possibly channel the money borrowed towards building a technology-driven economy. In Nigeria, there is nothing of such going on in the country. Nigeria’s ministry of science and technology is dormant. The minister there is performing below expectation and every month/year a huge amount of money is made available for the ministry without much to show for it. The same goes on in other ministries in Nigeria. This is worrisome. The Viewers Corner News team would use this opportunity to plead with the people of Nigeria to elect leaders with foresight who understand properly how economic policies work. Although it may not be easy in 2023 when a new leader takes over power because the way the economy of Nigeria is at the moment, the incoming leader would have lots of loads to carry. But with wisdom and the support of all Nigerians both at home and abroad, such leader would get most economic problems sorted out before the tenure of his office ends.
Source: Viewers Corner News.