‘Nigeria, ticking the economic boxes of a failed State’ – Stakeholders

Stakeholders have warned that Nigeria is currently ticking the economic boxes of a failed State from which it would be difficult to emerge from.

Recall that in 2021, the country was designated a failed State in a joint article in Foreign Affairs by political scientist Robert Rotberg and former American Ambassador to Nigeria, John Campbell. In their article: ‘The Giant of Africa is Failing (May 31, 2021)’, they declared: “If a State’s first obligation to those it governs is to provide for their security and maintain a monopoly on the use of violence, then Nigeria has failed, even if some other aspects of the state still function”.

Criminals, separatists, and Islamist insurgents increasingly threaten the government’s grip on power, as do rampant corruption, economic malaise, and rising poverty”.

The stakeholders say Nigeria today fulfills many of the conditions that would normally be attributed to a failed State. They said the Government no longer possesses a monopoly over the use of violence. Boko Haram, ISWAP and the genocidal militias not only outnumber the Nigerian military; they are also more than a match for them in terms of the quality of their military arsenals.

They also lamented that the Government cannot fully police our country’s borders, leading to uncontrolled immigration of well-armed terrorist groups. Nigeria is currently the kidnap capital of the world, in addition to possessing the unenviable title of being the world capital of poverty. More than 24 million children are out of school. Some 3.5 million Nigerians are living in makeshift IDP camps. UNICEF recently announced that 345,000 children have died in the North-East over the last 12 years.

Although there are no doubt pockets of economic successes, such success is being recorded against a generalised backdrop of worsening insecurity, decaying civil service and collapsing institutions.

Meanwhile, the economy is on a tailspin. The inflation rate in Nigeria has reached an all-time high with soaring food prices, and the inability of the average Nigerian to afford a 3 square meal daily. The implication of this is that it has hampered the purchasing power of the average Nigerian, as people have to spend more on necessities or survival such as food, clothing and toiletries, amongst others, due to a hike in price.

According to the World Bank, fragile States are characterised by weak policies and institutions, “making them vulnerable in their capacity to deliver services to their citizens, to control corruption, or to provide for sufficient voice and accountability. They face risks of conflict and political instability”.

The figures under Buhari’s tenure have increased for the wrong reasons.

Since independence, Nigeria has always been flirting on the precipice. One such event is the civil war that almost led to the separation of Nigeria. Also, over the years there has been a rise in secessionist groups hoping to break away from Nigeria due to political and economic reasons. The recent security issues are a cause for concern and Nigerians genuinely hope respite will come next year in May.

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