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Who’s Nigeria’s best leader since independence in 1960?

Nigeria is 62 years old today, celebrating its anniversary of independence from being a British Colony.   Who’s Nigeria’s best leader since independence in 1960?  The country has so far been ruled and governed by 12 heads of state, with an average of five years in office per leader. But only eight of these leaders were in power for more than two years. If you’re up-to-date with Nigeria’s leadership history, which of the leaders do you think was the best? How is this measured?  I answer these questions simply using two economic variables: the price of oil and growth in the gross domestic product (GDP). Rising oil prices represent the inflow of resources, an opportunity being presented for a leader to finance economic progress – to lay the foundation of unprecedented prosperity.  On the other hand, growth in GDP reflects what the leader did with the opportunity, an outcome of what the oil fortune was used for. That said, let us plough through the numbers as we shovel out some stylised f
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The executive branch of government holds a monopoly on public policy.

The executive branch of government holds a monopoly on public policy. And, if policymaking is not shielded from fraught political interferences, no meaningful results will be achieved because most political interests are anti-people and at the same time pro-corrupt politicians.  Had Prof Soludo and Mr Sanusi (former heads of the central bank of Nigeria) been allowed at the helm of the institution for two consecutive terms of five years (a total of 20 years of them running the apex bank), regardless of who was holding the keys to the Aso Rock (Nigeria's equivalent of US White House or the UK’s 10 Downing Street), the Nigerian economy might not have slipped into the current steepest downturn. I have three brief points. My reasons--the duo have a couple of things in common: 👇 (1) In my opinion, they are skilled at central banking than all their predecessors as both of them hold degrees in econ. (2) They are highly ambitious! And would go to any length to protect their names-- to avoi

The Nigerian economy may rise from the ashes by 2030

The Nigerian economy may rise from the ashes by 2030 By  Zuhumnan Dapel and Ishmael Ogboru Nigeria is 60 years old. It has so far been through a three-year devastating civil war, two economic recessions (and now in its third), leadership crisis in form of power switches in six military coups, and many other besetting challenges.   In this opinion piece, we provide a concise account of how these challenges – relating to the economy – have evolved and we argue that Nigeria will one day rise like a Phoenix from the ashes! There is no question, the Nigerian economy – the largest in Sub-Saharan Africa and bigger in size than 31 other economies on the continent, combined – was healthier than 10 years later. Two major forces led to this: the 2014 bust in world oil price and the foreign exchange policy regimes pursuit from 2015.   However, by 2030, the economy may emerge the best it has been since the return to democratic rule in 1999. Two forces are expected to drive this rebound: the ongoing

I don’t believe Nigeria has a leadership problem​. Here’s what I believe it has.

  Which of the two do you want me to release to you?” asked the governor. “Barabbas,” they answered .  (Barabbas had been thrown into prison for an insurrection in the city, and for murder.) I don’t believe Nigeria has a leadership problem. I believe it has a people problem. I don’t believe Nigeria has a leadership problem. I believe it has a people problem. If truly the problem is leadership, then the first set of leaders that have come and gone would have gone with the problem. But since its independence, Nigeria has been replacing its leaders - drawn from among the people - yet the problem persists to this day.  One caveat: The leaders are elected officials, e.g. presidents, governors, members of parliament, chairmen of councils, etc. Those not part of these are the people: the followers if you prefer to call it. Someone may say, “hang on a second: we’ve had wonderful & scandal-free people that assumed leadership positions but were later ruffled by corruption."  O.K. I get

FANS AND CRITICS

Whoever you are and no matter what you do in life, you may have fans and critics. Listen to them both. WHY?  Your fans will always praise you, give you some encouragement, cheer you up, say good things of you to you and to others, motivate and bring out more of the potential you have to improve what you are doing. Because they are your great admirers, they will hardly bear ill-feelings towards you. BUT,  Anytime you screw up or make mistakes in life, they will hardly point at your errors. Their role at this point comes to an end. NOW,  Your critics take over. Hear what they are saying about you. Even though some of them maybe driven by envy, jealousy, resentment, spirit of competition or bitterness, they can be great instruments in shaping you. They keep you human, humble, repealing every root of pride that may spring up within you.  They make you sit up and somehow, they can spur you to greater heights in life. HOWEVER, REMEMBER,  They may never motivate

Nigeria’s best head of state since independence?

From the first decade of its independence to date, Nigeria has so far been led by 12 heads of state. Nine of them were in power for at least more than two years. Which of them was the best? And how is this measured?  I answer these questions using just two economic variables: GDP growth rate and the price of oil.  Let’s plough through the numbers as we shovel out some stylized facts (depicted in the chart below. To view higher resolution version of the chart, please click here  or here ):   President Jonathan (in power from 2010 - 2015) had the highest oil price and Gen Gowon the lowest.  President Yar’adua  (2007 - 2010) had the highest growth rate and Shagari the lowest followed by Buhari.  President  Buhari  (2015 - 2019) is having the 3rd highest oil price, 11 times Gen Gowon's.  Gen Gowon  (1966 - 1975) recorded the 3rd highest growth rate, 15 times Buhari's (2nd lowest). However, Buhari has a few years left to improv