Ten ways Nigeria can become a global powerhouse

Earlier in the year, the United Nations released 2017 Human Development Report which ranks the countries of the world based on parameters such as longevity of life, health and ease of doing business.The United states, Canada, Iceland, Ireland, The Netherlands, Singapore, Denmark, Germany, Switzerland, Australia, Norway. Nigeria was ranked 152 out of 188 countries.

As Nigeria clocks 57 years as an independent county, it is important to observe the following to move quick up the ranks.

Nigeria need to address the issue of growing gap between the rich and poor:

According to the Inequality report released by Oxfam International, the combined wealth of five richest Nigerians(Dangote, Adenuga, Otedola, Alakija, Danjuma) put at $29.9 billion, could end extreme poverty in the country.

The benefits of the nation’s economic growth had been captured by a few wealthy elite at the expense of the ordinary Nigerians.

Oxfam International also disclosed that Nigeria’s richest man earned 8,000 times more in one day than a poor Nigerian would spend on basic needs in a year. An average American earn an average of $53,245 per year.

It said that more than 112 million people were living in poverty in Nigeria, yet the country’s richest man would need to spend one million dollars a day for 42 years to exhaust his fortune.

Nigeria need to address the issue of education:

Since the late 80’s, educational sector in Nigeria has suffered setbacks in a number of areas. Actions are a major issue in a country where most Nigerians prefer university education. Every year, universities exceed “get admission quota”. Universities are constantly being inundated with admission request they cannot meet. The number of candidate who applies annually exceeds by far the vacancies available. For instance, over 1.5 million candidates apply annually for admission into universities nationwide but only about 500,000 is admitted. Some of these unsuccessful applicants becomes frustrated and sometimes, resort to crimes.

Tying with the United States, Canada ranks high in education achievement. More than half of its residents graduate from college.

Low life expectancy in Nigeria:

Nigeria can join the league of greatest countries in the world if it addresses some of the problems associated to why people die young in Nigeria

According to the latest WHO data, life expectancy in Nigeria is: male 53.7, female 55.4 and total life expectancy is 54.5 which gives Nigeria a World Life Expectancy ranking of 177.

Why are Nigerians dying so young?

People in Iceland have a high life expectancy, living an average of 82.7 years.

Crime rate in Nigeria:

The National Bureau of Statistics (NBS) said that the FCT and Lagos State reported a total of 58,566 crime cases in 2016.

The bureau said that the FCT reported 13,181 crime cases while Lagos State reported 45, 385 crime cases.

Crime is low in Ireland. The homicide rate stands at only 1.1 per 1,000 people, according to the most recent data available.

Income inequality in Nigeria:

According to Oxfam international, It said that more than 112 million people were living in poverty in Nigeria, yet the country’s richest man would need to spend one million dollars a day for 42 years to exhaust his fortune.

Netherlands has one of the lowest rates of income inequality in the world (12.4%), and it’s been continually decreasing since the mid-1990s.

Healthy living:

About two-thirds of the Nigerian people are poor, despite living in a country with vast resources, over 70% of the population of Nigeria cannot afford the luxury of health care services compared to Singapore where there’s a range of wealth and advantage; there are very few people at the bottom; this uniformity means more members of the population can live the lifestyles needed to ensure good health — well into their eighties.

The average life expectancy is over 83 years in Singapore.

Minimum wage:

NLC and the Trade Union Congress of Nigeria have been agitating for review of minimum wage from N18,000 to N56,000, due to hardship faced by workers as a result of inflation

Denmark tie with Singapore in the UN’s ranking. When comparing median wages between men and women, the gender wage gap is now at 7.8% for full-time employees in Denmark. For comparison, the gap hovers at 17.9% in the US.

Astronomical cost of quality education in Nigeria:

The cost of attaining good education in Nigeria ranges between N200,000-N500,000 compared to Germany

As of October 2014, all universities are free for residents and international students in Germany, where over 96% of the population has at least some secondary education.

Health care:

Healthcare management is a catastrophe in the country! Nigerians have to suffer from long queues, lack of medications and inexperienced doctors

On average,in Switzerland, people live to age 83 and have a relatively low risk for diseases like malaria, HIV, and tuberculosis.

Gross domestic product:

There is need for encouraging the educational sector in Nigeria and its expenditure by the federal government.

The UN found that most students go to school for around 20 years in Australia.

Standard of Living:

Nigeria is going to struggle to make much progress as long as it continues to send 2 of its greatest assets abroad whilst getting nothing in return. Those assets are, firstly, the financial wealth stolen by corrupt politicians and, much more importantly, its best brains.

Norway ranked highest in standard of living.