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By Ayo Akinfe
(1) To be recognised as a sovereign nation you must have a gross domestic product (GDP) that is at least 50 times the size of your population. For instance, a country of 200m people should at the very least have a GDP of $1trn
(2) A nation should be able to meet at least 70% of its food needs through domestic production
(3) A nation must be self-sufficient when it comes to the production of health and medical equipment
(4) A nation must be self-sufficient when it comes to the production of pharmaceutical drugs
(5) A nation should have the capacity to stockpile at least six months worth of food supplies in case of an emergency
(6) A nation should have foreign reserves that are at least half the size of its GDP
(7) A nation must be able to produce the necessary equipment required to defend itself and provide security
(8) Every nation must spend at least a quarter of its annual budget on education and training
(9) Every nation must have a tax-to-GDP ratio of no less than 25%
(10) Every nation’s budget must be at least one tenth of its GDP. For instance a nation with a GDP of $1trn should have an annual budget of at least $100bn