In a powerful post on her official X handle, renowned economist and former Minister of Education, Dr. Oby Ezekwesili, underscored the stark consequences of poor governance in Nigeria. She began her message with a telling statement: “In God I trust; everyone else, please bring your data.”
Ezekwesili drew a sharp comparison between Nigeria’s GDP per capita and that of other countries, emphasizing how this metric reveals the prosperity of nations and the well-being of their citizens. She highlighted key figures:
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)
Ezekwesili pointed out that Singapore, which embarked on its development journey around the same time as Nigeria in the 1960s, has soared to incredible heights. With a GDP per capita almost double that of its former colonizer, the United Kingdom, Singapore now boasts a figure about 40 times higher than Nigeria’s. This glaring contrast, she asserts, can be attributed to one key factor: quality of governance.
Though Nigeria saw some progress between 1999 and 2007—quadrupling its GDP per capita from $494.13 USD to $1,876.41 USD—the growth has since stagnated. By 2022, the GDP per capita had only increased slightly to $2,162.63 USD. Ezekwesili lamented this minimal improvement over 15 years, pointing out that the number dipped further to $1,688 USD in 2023.
“Is it not obvious how terribly bad governance has delivered to Nigerians?” she asked, underscoring the deep economic challenges the country now faces.
With 2024 looming, Ezekwesili urged Nigerians to brace for more difficult times ahead. She recalled her past warnings about unsound economic policies and how previous administrations dismissed them, choosing instead to mock expert advice. The consequences of those decisions are now evident, as the economy continues to deteriorate.
“The terrible scorecard is here and worsening daily,” she wrote. “The poorer segment of our population are so undeserving of these consequences of bad governance. That’s the painful reality.”
Her message was a sobering reminder of the nation’s economic mismanagement and the toll it has taken on its citizens. In her closing remarks, Ezekwesili admitted that while the challenges are immense, there are now “no easy answers.” The path forward will require bold leadership, sound policies, and a commitment to lifting Nigeria out of its current economic quagmire.
PIONEER NEWS 