Our beloved Nigeria, the acclaimed giant of Africa, last week was been ranked as one of the world’s least prosperous countries of 2014. It now ranks 125th out of 142.
Nigeria afell to 27th in Africa in 2014, nose-diving 22 places from its ranking in 2011, according to a report released by a U.K based research organisation, Legatum Institute, that measures global prosperity.
What baffles me most lately is why for heaven’s sake our Finance Minister, Ngozi Okonjo-Iweala, proposed the 2015 budget still using $65 as a benchmark instead of $58 which is the current global market price.
The Minister insists that she “forecasts” that the price will stabilise around the set $65 benchmark around middle of next year. So I’m wondering who made this forecast? Was it T.B Joshua? Or Pastor Ayo Oristejafor? Because I don’t know what the hell she got this forecast! Sounds more like a false prophecy to me. Or just a hopeful plan, but hope is not a strategy!
The fact is there is an ongoing price war. The fact is that America, our once biggest customer, no longer buys our crude oil since last September. The fact is America is consistently producing 9million barrels a day and flooding the international market, it intends to hurt Russians.
So I’ll like to see how this particular budget plays out in the National Assembly. I hope someone is listening to the facts not the forecasts.