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The Engine that Controls Nigeria’s Economy

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By: Leke Reddington, Co-founder and CIO of Brainiac Capitalx

How quickly time flies away?

It’s another Independence Day celebration for my beloved nation, Nigeria. 64 Years ago on October 1st, 1960, we received our National Independence from the Great British Government.

We’ve grown up hearing and reading about the glorious old days when our nation was the great pride among every other nation for its diversified growth, economy, vibrant youths, industrialization, strong leaders, powerful visionaries that promised us a great vibrant, developed, pacesetter nation among the committee of nations.

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But all these sound like far-fetched fairy tales, filled with sad, depressing, unfulfilled dreams and visions of my beloved nation. What is National Independence without a progressive economy, strong welfare, good health, quality education, strong security infrastructure, peaceful unity, and co-existence of all her citizens?On this special day of our nation’s Independence Day celebration, I know a lot of people will write about all the ills, troubles, challenges, and difficulties that we have faced over the decades that we are still facing even at the moment that I am writing this article.

Especially, with the current economic hardship that we are facing due to the removal of the Fuel Subsidy, untold rising Inflation, rising Interest rates from the Central Bank, currency devaluation of our beloved Naira, food insecurity, corruption, and mismanagement of public funds by our very own public officials and politicians.

All these can be very depressing on a Day such as this, but instead of focusing on all these sad facts and realities. I’d rather focus on the way forward, solutions, and visions of what’s to come for our beloved nation.Can there be any true National Independence without Financial Independence and Socio-economic Development of a Nation?

As it stands today, my beloved nation is regarded as a Poor, third-world nation with all its great potential, large human capital, and mineral resources. I remember the great economist and historian, David Landes the author of the book, “The Wealth and Poverty of Nations: Why Some Nations Are So Rich, and Some Are So Poor” wrote about the various inequalities, opportunities, and challenges that made some nations poor. Also, in the book titled, “Why Nations Fail: The Origin of Power, Prosperity and Wealth” by Daron Acemoglu and James A. Robison, we can see the various theories and reasons behind why a Nation’s socio-economic status, development, power, wealth and poverty.One of my mentors, once said, “There is No Poor Nation, and there is No Rich Nation.

What we have is many Poor People in a nation or country that makes it poor, and the same for the rich country.” This is to help us realize that our growth, development, and empowerment as a Nation lies in our very hands, the majority of the people.

With quality, visionary leadership at the helm of our affairs in Government, Industry, Education, Health, Security, Judiciary system, International Relations, Global Trade & Commerce, and Youth Empowerment. We cannot continue to dwell in this quagmire of economic poverty, hardship, and insecurity as a Nation. Every citizen must take responsibility for their socio-economic liberation, freedom, and independence, for therein lies the beginning of our deliverance and advancement from the clutch of national socio-economic decadence.

We should be productive with our skills, training, education, and talents for the development of our nation. We should vote in and empower proven leaders with track records, integrity, and expertise in their chosen fields that can lead the nation to true independence, wealth, and freedom.Enough is enough, we can’t keep repeating the same mistakes, doing the same things, and expecting different socio-economic results as a nation. Economics is not rocket science, neither is National Development, it is the results, effects, and consequences of National decisions, policies, and actions taken by the Leaders of Governments and the citizens of the country.

We need to wake up and be strategic as a Nation, we can’t keep complaining, regretting, and languishing in our past and current state. We must arise and take responsibility, the future ahead of us is one of very great potentials and rewards. With the advent of advance technology, artificial intelligence, modern science, robotics, bitcoin and blockchain technology, and other emerging technologies, we can leverage these tools to build our nation and empower our fellow citizens.

We Nigerians are the true economic Engine that drives and controls the economy of our beloved nation, in our very hands and leaders is its wealth, power, peace, and prosperity. Enough is enough, of our reliance on dumb economic textbooks, theories, monetary policies, and philosophies by our so-called economists, analysts, and economic experts that have not taken us anywhere forward to the Promised Land.I believe strongly in the future of our beloved nation, Nigeria. I believe in the great future that is ahead of us, a new light is arising, a new breed of leaders with integrity, compassion, passion, drive, patriotism, expertise, and vision to drive the nation to its great potential. We shall surely see it in our day and time, this is not the time to give up on our nation.

We will not give up, we will do our very best, and we will surely see our beloved nation, Nigeria take its rightful place among the great committee of Nations in the coming years from Now! It is not too far away, as soon as we start rising up to the responsibility and rising up to what is required of us all. It starts with me, it begins with you, it is in all our hands.

Nigeria shall be Great Again in our time.

Happy Independence, my Beloved Country, Nigeria.

The Pride of EVERY Nation.

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