The Myth About Nigeria Being Wealthy

Nigeria has oil you may say and a land mass that potentially can feed the continent. How dare i call our Nation’s wealth a myth, don’t i see our vast mineral resources scatterd all over the country. Dear friend, forget your belief that we live in a wealthy and blessed country because our country happens to be one of the poorest nations in the world.

Before you say i don’t know what i am talking about and push the article aside. Let me share with you an illustration. A few years ago, an illuminating World Bank report titled ‘where is the wealth of nations? Measuring capital for the 21st century’ undertook to measure the wealth of 120 world nations in the year 2000.
The conclusion of that report is that it is NOT a country’s tangible assets whether natural or produced; it is NOT a country’s mineral resources, agricultural land, forests, industrial equipment and infrastructure which make the country rich and prosperous. It is rather the country’s intangible assets, that is:
· the skills and know how embodied in the labor force.
·the ability of a nation to efficiently invest the rent extracted from the exploitation of exhaustible resources.
·the mutual trusts which exists among members of a society.
·their ability to work together for a common goal to which they strongly adhere and in which they firmly believe.
·the quality of formal and informal institutions
·the saving and maintanance culture.
·the extent to which citizens have confidence in the law of the land and abide by them.
And, ·patriotism, that is, both the extent to which citizens trust and support their government and the extent to which government trusts and supports citizens.
To quote the world bank :” Rich countries are largely rich because of the skills of their population and the quality of the institutions supporting economic activity”.
Among the 120 countries scrutinized and ranked by the report. Switzerland, Denmark, Sweden, the USA and Germany were the first five. Ethiopia was the last. Nigeria came just before Ethiopia.
Do you still believe Nigeria is wealthy? I guess not.  You must now realize how broke we are as a nation. Are you willing to help our country grow and become wealthy? Would you help us take our rightful place among the comity of nations.
Become a solution provider. Become the leader you were born to be and you would be playing your part already.
Warmest regards.
Adedunmade Onibokun Esq.


  • if only u know how crude forms and da role river niger played (geography), from that i say our crude is so much to thrust us high wit great exploit… WE ARE RICH and the world’s governing powers know that… BUT, as they say ‘knowledge is power’, literacy level and education has failed and has eaten deep(still eating) in da system… Even from the way they manage the revenue shows lake of knowledge which should be there when competent and capable leaders who have got great vigor and good visionary element on analyzing da national degradation… believe me, if da westz comes back again to coloniz us, they pratically build diz nation with well organized parliament bcos they are learned… Our leaders (senates, governor esp, etc) dn’t think act like leaders… A country like Nigeria won’t ask questions when a contractor demands for 150 million to recontruct a road that wun’t take up to 15 million or less, and people are getting stinkingly rich over-night…

    1. Curruption is like an operation
    system in our head now
    2. Dn’t u ever think Nigeria is poor, they luk poor but they are not
    3. Personally i say, arrest all the speakerz in dat stupid house of assembly and also da governors (ok lets start with da speakers), have u eva for once figure out how much they are bn paid annually? a man with just a family… not like that in britain or U.S

    infact, we gat problem

  • I dnt believe eveything pple say abt nigeria..check ur wikipedia, nigeria s d 2nd largest economy in d africa nd hav diverse resources, our problem s jst management, some pple say nigeria s d second poorest country in d world but its false. I dnt believe everytin pple say, its up to us to make naija a better place.

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