Money is a creation of government. If you read the first developmental plan of China, “The Great Leap Forward,” it encapsulated plans to move them towards industrialisation, dissociating themselves from the pricing mechanism of the world and we know where they are now. I’m motivated by the discussion I’d with my very good friend a few moments ago and why we both believe the growing inequality in our country, Nigeria and the continent as a whole shouldn’t be swept under the carpet. Inequality in every facet of life is the moral & economic issue of our time.
We are sitting on a keg of gunpowder in this country and I don’t intend to scaremonger. There are eighty (80M) million young Nigerians under the age of thirty (30). There are twenty-eight (28M) million Nigerians unemployed and they are between the ages of 15–55. Of the twenty-eight million (28M), four (4M) are still in school studying (secondary & tertiary education), so it means there is an active twenty-five (25M) unemployed. About ten (10M) million are unemployed and actively looking for a job, then another fifteen (15M) are working less than full time (both secondary school & degree holders).
This is abysmal by any standards and to think that in 1929 at the onset of the great depression, fifteen million (15M) unemployed Americans made their economy moribund should give us a food for thought. I’m gobsmacked getting actionable insights from all of these datasets and I wonder what sort of bills our legislators churn out of their congressional sausage factory. About thirty (30M) million Nigerians say they are satisfied with their jobs of which when there’s an opening anywhere, they are the same set of people that apply again since the employers’ harp on experience. This simply means that the job moves around the same group every time and then.Read More »