By CrossRiverWatch Admin
Mr. Donald Duke, former governor of Cross River State, has opined that Nigeria is technically a failed state, as it cannot meet the basic expectations of its citizens, which according to him, is the hallmark of a failed nation.
Speaking at an inaugural memorial lecturer by Prince Emeka Obasi held at the Muson Center Onikan, Lagos, with the theme, ‘If This Giant Must Walk; Manifesto for a New Nigeria,’ Donald noted that Nigeria has been moving backwards since the 1970s, while remarking that the question is not whether the country will walk, but whether it’s walking backwards or forward.
“Between 1979 and 1983 when Shehu Shagari was president, Nigeria’s annual budget hovered around $25bn. Our population was about 80 million to 90 million at the time. That was over 40 years ago. Today, our population as they say is over 200 million, but our annual budget is $19bn,” he said.
The former Cross River State Governor argued that growth is not about adding zeros to the currency, and presenting budgets that run into trillions, which he said is mere deception: “You can put all the zeros behind the currency, but we are deceiving ourselves because we’re living a lie.
“So, you could see a nation that is walking itself into a self trap with eyes wide open. What are the policies that would generate growth? We are fighting inflation, it’s good to fight inflation, but which is more important? Inflation or growth? Then, we are micromanaging the exchange rate, yet not producing. If you are going to import everything as we do, and there are those very sexy economists that would say, let market forces decide. For that to apply there must be some measure of equality.
“You cannot have an open, competitive system with countries whose economies are much stronger than yours. We must compete amongst our peers. In life, water finds its level. We have to manage what we have; we have to be productive.
“So, it’s an economy that is not productive, we live as if all is okay and then want to reign in on foreign exchange rates. We are sending our children as early as 9 years to schools abroad, then we go to London for a medical check when your eyes hurt or for basic medical checkups. It doesn’t add up.”
Duke noted that contrary to popular belief, Nigeria has one of the smallest economies in Africa despite being the most populous on the continent.
“We turn around and say we’re the largest economy in Africa. That’s a lie. We have to recalibrate our thinking. We can’t go on this way. We’re are a failed or failing state, that’s the truth. Failed state doesn’t mean that you no longer exist. Somalia, Afghanistan etc still exist, but when you fail to provide the basic expectations of your people, you are technically a failed state. Which sector have we not failed in? Is it education? Is it healthcare? Is it infrastructure?”
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