AWAKENING THE GIANT OF AFRICA

For far too long, Africa, the second largest and second most populous continent in the world has been finding it difficult to feed its one billion population let alone make significant economic growth. The continent has the worst growth prospect with disturbing human and economic indicators characterized by inadequate infrastructure and hunger. The Economist of London once described her as a “Hopeless Continent”. While the continent accounts for nearly 15% of the global population its share of world trade is less than 2.6%.

But the failure of the African continent does not derive from insufficient human resources or natural endowment. For instance, the hydro electric power potential in Democratic Republic of Congo alone is reported to be sufficient to provide three times as much power as the whole of Africa currently consumes. Yet less than 8% of that potential is exploited. African professionals are noted for making huge contributions abroad than at home.   

Africa problem is mainly leadership which stems from the failure of the Nigerian leadership. For if Nigeria gets it right the story of the continent will be different. It is for this reason that Nigeria is called the Hope of the Continent and the Giant of Africa. This assumption could not have been out of place. Look at the statistics: one in every seven African is a Nigerian; one in every five graduates in Africa is a Nigerian and presently has the highest population of foreign students in UK and US; two in every nine flights in Africa originates from Nigeria.  It controls 30% of its banking and 16% of mobile telephone markets. 47% of remittances and 34% of investments in Africa is in Nigeria. In the words of President Bill Clinton “Nigeria is a pivot point on which all Africa's future turns”.  

However, there is no denying the fact that the so called Giant of Africa is in coma and the time to awake her is now. The future of Africa depends on Nigeria and it is incumbent on her to lead the continent out of poverty and misery. Already the chances of growth has never been this brighter. The Nigerian Spirit, the equivalent of the American Dream (to be discussed in our next publication), is the very ingredient needed to transform the continent. Where ever you go you see Nigerians contributing in large proportion to the development of their host nation.  Nigeria and indeed Africa has the potential of surpassing China’s economic miracle if the leadership challenge is addressed. The Chairman of Dangote Group of Companies and the richest black man in the world recently said Africa has more growth potentials than China. President Jimmy Carter of USA also had a far more favourable opinion about Nigeria than China when he visited the two countries thirty-two years ago. As at then while Nigeria was ranked 88^th position in the world with a per capita income of $230, China on the other hand was 114^th with $112 respectively.

The New Nigeria is a blog devoted to setting a new agenda to reclaim the nation’s rightful place as well as the critical steps needed to turn things around. The blog is open to any one that has something to share in this regard be it economic, political, social, etc. To begin we shall let our readers see Nigeria through the eyes of two former leaders in the person of President Bill Clinton and Prime Minister Gordon Brown. We look forward to your comments and contributions.