Nigeria is very dependent on oil, for its government revenues and for its foreign exchange earnings. When oil prices fall, Nigeria's people suffer.pic.twitter.com/wUwZGT2nkC
You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
Nigeria is very dependent on oil, for its government revenues and for its foreign exchange earnings. When oil prices fall, Nigeria's people suffer.pic.twitter.com/wUwZGT2nkC
And like many oil-rich countries, the government tries to cushion the blow by subsidizing fuel (this is more expensive than you might think, since Nigeria can't refine all of its own oil). When oil prices rise again, this puts a strain on govt. budgets.pic.twitter.com/lJni9SVorO
Meanwhile, fewer and fewer Nigerians have jobs, which could portend a rise in social instability.pic.twitter.com/xUj2UYVQNJ
To escape the doom spiral of the Resource Curse, Nigeria should look to a country that seems to have beaten the curse: Botswana. https://openknowledge.worldbank.org/bitstream/handle/10986/18304/multi0page.pdf?sequence=1&isAllowed=y …
Botswana's approach is basically: 1. Pour resource revenues into a Sovereign Wealth Fund 2. Depreciate the currency 3. Use SWF to stabilize the budget 4. Invest a bunch in education, health and infrastructurepic.twitter.com/4igm6XIQvn
Nigeria is already taking some of these steps, which is great.pic.twitter.com/oaEc1lfhW9
But Nigeria is missing one big piece: Investment in education. (It could also stand to invest more in health.)http://thenationonlineng.net/nigerias-disappointing-investment-education/ …
Instead of subsidizing fuel, Nigeria needs to subsidize education (which doubles as child care) and health. This will provide jobs, relieve poverty, and - most importantly - build human capital. (end)pic.twitter.com/h2tiCL0cyA
Something that has surprised me this last year is how incredibly vibrant #NigeriaTwitter is. So much creativity, energy, intelligence and humor. Enormous potential if corruption can be reduced.
Any suggestion of people to follow or just use of the hashtag?
Hard to pinpoint (heh), but artists like @UkonuOscar:https://twitter.com/yblnigeria/status/749857814508670977?s=21 …
You are very apt with this write up but the biggest Monster that have made Nigeria what it is today is "VESTED INTERESTS" not a lack of policy but majority put their interest before that of the community or country which is the hidden X-FACTOR!
Here are a few ideas on how Nigeria could invest in education: Sell all federal-run schools (secondary & tertiary) Convert annual spending on such school into tuition for a fraction of the students typically catered for Create students loans managed by banks for the rest
Wheres my job at Bloomberg?
These article have a personal tinge. My parents lived in Lagos 81-84. I went out there for school holidays. That was the first time, except for a day trip to Calais, that I had left the UK. An eye-opener.
I saw my first - and so far last - dead bodies, abandoned on the side of the highway. And the chaos of people trying to make a living everywhere and always.
We do require investment in education. I think governments at all levels need to focus more on basic education. This may help us to avoid the perennial internal crisis. Education at the basic level is the foundation for everything. Higher PISA score correlates with development.
@Threader_App compile
Hey ssgslack, what's up? The thread is compiled, don't hesitate to share it. Have a good reading:https://threader.app/thread/1052240792650100736 …
Please thread all @Noahpinion’s tweets. This is how he’s going to win the Nobel for Econ.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.