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Economy: Why can’t Nigeria borrow responsibly…

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A confident economy is supposed to borrow and finance growth. Thirty years ago there was no Dubai.
Thee actual contract to start the new city was roughly $15Billion while the tallest man-made structure in the world, The Burj Khalifa was built at $1.5Billion which started in 25 September 2004.

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The edifice provides employment for 60,000 people but in actual fact it attracts millions of tourists that throng to Dubai to see the building, bringing revenue in billions of Dollars.

For Nigerian government, mere mention of the amount to spend on social infrastructure will trigger activities that can jump-start the economy.

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If this government can generate 60,000 employment in an economy with over 90% youth unemployment it would have been something to celebrate.

There are so much projects in Dubai that at present 30,000 cranes,representing 25% of world crane population are in the city. This is the kind of vision we want to see our leaders having.

A leader without vision is without mission.
In Nigeria,God gave us leaders bereft of dreams and this is a sad reality.

The Dubai Fountain, The Rose Tower and other record breaking projects were seen by our leaders who visit that country regularly.

However none of them got the inspiration to think of replicating it in Nigeria. Over a Trillion dollars earned over a period of 50 years and we are still talking about the basics like roads, electricity and safe drinking water.

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The entity Nigeria is one huge slum where nothing works. We are, as an economy still at take-up stage.

Our competitiveness ranking by WEF is scandalous at 126 out of 150 ranked nations occupying same position with Sudan and well overtaken by Rwanda.

This should not be our portion and as Nigerian I am sad.

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