Recent economic trends will either confirm Nigeriaâ€™s economic resilience or fragility. Resiliency would exist if indeed Nigeria has the ingenuity to overcome its problems as Nigerians typically believe. Nigeria's real GDP lost nearly 0.4 percent in the first quarter of 2016, after posting roaring growth rates over the past 10 years when it averaged near 7 percent. Nigeria should no longer just wait for high crude oil prices to come back. There are now reasons why prices over $100 a barrel may not come back anytime soon. Nigeria may experience even slower economic growth rates until many structural adjustments are made or significant recovery in crude oil prices return. For that matter the apparent policy of excess reliance on a narrow base for economic growth has betrayed Nigeriaâ€™s economic development and competitiveness. So what we need is real economic diversification. Folks this will come through community economic growth and development. How communities will have to provide the engines of growth when they receive good attention from policy makers looking to develop industrial hubs and value centers. It will also happen when electricity supply is free and communities can come together to develop their own paradigms for stable electricity. This is how and when we be able to effectively and sustainably speed national economic growth. Even Arsene Wenger or Pep Guardiola would find it difficult to coach a team of neighborhood players to victory in the world club championships. However, a soccer team of exceptional players is usually exceptional, even with a coach of modest abilities. What does this mean? Great nations are an aggregation of strong and competitive communities. So what we need are new ideas, and more capital acquisition and also ways of engaging changing technologies. Communities that cannot employ and engage exceptional leadership for management of its resources, human and physical will struggle to even survive, let alone be able to compete in the global or even national market place. Our communities need talented leadership like the retired AVM Ararile. What he is doing as the Ovie of Umiaghwa-Abraka Kingdom is extraordinary and commendable. The achievements will be amazing when countries with great potential like Nigeria and others across Africa focus on the development of our communities. I am Magnus Kpakol, and that is my view.
Posted: Jun 7th, 2016 @ 03:31:15 AM