Nigeria is honored with inexhaustible human and common assets which nature has invested her with. The nation climatic conditions support wide assortment of agrarian exercises, including the development of wheat Additionally, Nigeria is the most crowded nation in the Continent of Africa, with plentiful monetary assets, which, when appropriately tackled, may empower the nation to accomplish the status of a rich and created country.
Despite the fact that its mechanical area is immature due, partially, to insufficient capital for speculation and absence of innovative skill, yet the nation has conspicuous modern concerns, for example, mammoth oil Industry, iron and steel edifices, steel moving factories, pharmaceutical organizations, nourishment handling ventures, vehicle gathering plants, etc. Albeit a large portion of these mechanical concerns are not working ideally and a considerable lot of them rely upon imported sources of info, they can fill in as a reason for modern take-off, in the event that we set up our demonstrations together.
Painfully, despite Nigeria’s extensive landmass, growing population, agricultural and industrial potentials, the country remains economically backward, indeed the International Monetary Fund (IMF) had at a time classified Nigeria as a heavily indebted country with difficulties in meeting debts servicing obligations; certainly, these attributes are a minus in our national drive towards socio-economic and political development.
There are divergent opinions on the relationship between effective leadership and the economic organization of Nigeria, and how to expand the productive base of the country. Literally, economics is the distribution of scarce resources for optimum development of a society. Thus, successive governments had pursued vigorously, policies that will strengthen economic growth and development in Nigeria. But despite the economic efforts of past and present governments, Nigeria is yet to achieve basic economic aspirations.
Literatures on the Nigerian economy have cited leadership problems as a major cause of the country’s inability to effectively mobilize her resources. Critics have shown quite clearly effective leadership is a great obstacle to development in Nigeria. Leadership problem has hampered the country’s progress in the political, economic, military and socio-cultural sectors. Poor leadership lies at the root of our continuing social, moral, economic and political crises. Practically, all our misfortunes in Nigeria have been due to poor leadership. It seems, therefore, that the Nigerian leadership structure determined to place the blame for the unstable situation the frustration and difficulties confronting them on their leaders.
Thus, in contemporary Nigeria, we have observed and rightly too, that there is a great yearning for the total transformation of the process of producing appropriate leadership. This yearning, which grows more urgent by the day, is both legitimate and understandable. After decades of hopes raised and hopes dashed, it should not be surprising that Nigerians are wary and weary.
Having gone through decades in which their faith in their national leadership have been abused and affronted, Nigerians impatience with their leaders and almost total distrust of government functionaries can no longer, be dismissed as mere cynicism.
At Independence, expectations throughout Nigeria were high and the possibilities for greatness were almost limitless, Considering her vast resources, the country appeared set for good attainments, and fulfills what the international community saw as her destiny to lead the black race into the main stream human and technological civilisation.
Regretably, the Nigerian economy has hit an unequaled low. There is gigantic under usage assets. What is increasingly difficult is that our mechanical sub-segment isn’t delivering at full limit. In spite of being honored tangibly and humanly, our expense of generation stays high with developing joblessness. Likewise, just raw petroleum is in effect truly tapped, and creation was adversely influenced by the Niger-Delta emergency, on account of the pardon program, which has to a great extent reestablished the oil part. Our worry here is that outside oil, asset activation endeavors are somewhat baffling. Nigeria would have achieved attractive and manageable improvement.
There is no uncertainty that Nigeria is lavishly enriched. The nation has everything necessary to turn into a super power. Some way or another, our serious issue is the administration question, which has unavoidably weakened our capacity to activate our assets. Be that as it may; we accept that our arrangement of government has added to this poor administration issue. Our political structure particularly the reception of a twisted federalism has joined adequately to deny Nigeria of a sound procedure of getting the correct administration. Indeed, even vote based system which is required to create powerful pioneers is currently, a significant political issue in Nigeria.
We believe that problems such as corruption, and inter-ethnic wars and suspicion, which have contributed a lot to the failure of leadership, can be adequately tackled, particularly as the Economic and Financial Crimes Commission (EFCC) has braced up to the problem in recent times.
At independence in 1960, the International community amazed at the economic potentials of Nigeria, was quite certain that if our resources were appropriately managed, Nigeria would one day become the giant of Africa.
Unfortunately, due to the failure of our leadership to strategically mobilise our resources for political, socioeconomic and cultural advancement of our nation and people, a very poor infrastructure base yet to make appreciable gains in development, worsens Nigeria.
