Today's @bopinion post is about Nigeria. I expect its conclusions will not come as a surprise to most Nigerians, but it's good for Americans to be thinking about Nigeria and its problems.https://www.bloomberg.com/view/articles/2018-10-16/how-nigeria-can-escape-the-natural-resource-curse …
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Meanwhile, fewer and fewer Nigerians have jobs, which could portend a rise in social instability.pic.twitter.com/xUj2UYVQNJ
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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 …
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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
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Nigeria is already taking some of these steps, which is great.pic.twitter.com/oaEc1lfhW9
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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/ …
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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
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End of conversation
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The subsidy is another form of corruption with no accountability. Nigeria has the human resources if only the government would invest in education and infrastructure *electricity being # 1*
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Please kindly educate me in what it means to subsidise fuel.
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