As I take in all these VE Day 80th anniversary celebrations, I keep asking myself if Nigeria will ever witness a similar economic miracle as Europe did after the war

Ayo Akinfe

[1] As we all know, Africans are regarded as inferior beings by the rest of humanity because of our economic weakness. All those World War Two former enemies in contrast, have nothing but mutual respect and admiration for each other

[2] It is no surprise to me that we Africans are treated this way internationally. We are considered a burden and a continent of parasites by industrialised countries. Make no mistake about it, this will continue for as long as we remain an eternal consumer producing nothing

[3] China, the US, Germany, Britain, France, Japan or any other developed nation will never treat the nationals of a country that manufactures industrial goods, propping up the global economy, with disdain. I am actually glad that Covid-19 shone a mirror in our faces and showed who we really are. Responsible nations can take care of the their people in trying times, while irresponsible and parasitic ones like Nigeria cannot

[5] After World War Two, Europe rebuilt itself within five years. By 1955, the continent was fully back on its feet. You would not have known there was a war

[5] People talk about the Marshall Plan but that is just a lame excuse. Between 1999 and 2009, Nigeria realised more revenue from crude oil sales than any European nation got from the Marshall Plan

[6] As a nation, Nigeria needs an annual budget of at least $100bn to take care of her 200m people. Is it any surprise that we are treated in a racist manner worldwide? Why will the rest of the world respect a nation that cannot pull its own weight?

[7] After World War Two, Germany was in utter ruins, with her cities bombed, her industry in tatters, the population dispirited and no government in place. However, within five years, the nation was back on her feet, with both West and East Germany becoming thriving economies again. Nigeria simply has to follow suit if we want to get out of this rut

[8] When you do the arithmetic, you cannot but despair. We will need something like 15% annual gross domestic product (GDP) growth year-on-year over the next decade to get out of this morass

[9] If between 2025 and 2035 Nigeria enjoys 15% economic growth every year, we will be able to recover. It is either that or we perish

[10] No matter how you look at it, Nigeria needs to launch a radical and unprecedented industrial economic diversification plan. With no jobs, our youth will revert to armed robbery, kidnapping, communal violence, ethnic hatred, religious bigotry and terrorism. Now is the time to start thinking how to avoid that doomsday scenario

ayoakinfe@gmail.com