VICE PRESIDENTIAL DEBATE: THE POSITION OF PETER OBI ON EXTERNAL DEBTS BORROWING

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Peter Obi made an interesting comment yesterday. He said, “instead of running all over the world to borrow, we should go there to learn how they succeed in what they are doing.”

That was exactly the formula adopted by many Asian tigers after the second world war. Today, some of them are world powers. Let me use Japan for example. After WW2, with Hiroshima, Nagasaki and other Japanese cities in ruins, the leaders sent many of their brilliant young ones to Europe and America to learn cutting edge technology, despite the fact that it was already technologically capable to an extent. Today without oil, Japan is one of the top 4 strongest economies in the world. Look around you. Check out the cars you drive. Most of them are Japanese. Toyota, Honda, Mitsubishi, Nissan, Suzuki, you name them. Even your electronics (e.g Sony).
China too is taking the lead by empowering most of its over 1 billion people with jobs which come mostly from manufacturing. China has no oil, but they can make anything from a dress, to a tool to a car and infact, just about anything. And they mass produce them in millions and export. Even South Korea, devastated by the Korean war of the 50s, now produces your Kia, Hyundai etc.
All our governments (from after the civil war in 1970) have programmed us to do is to be a CONSUMING nation. We produce virtually nothing. Even the agriculture which used to be the bedrock of our economy by independence, has taken the back seat while oil prospecting and production is always in the front burner.
Nigerians no longer have that patience to wait 8 years for unperforming Presidents. A regime was changed in 2015. If their successors are not performing, then by all means we have to change them. We no longer have the luxury of time to dwell on primordial sentiments.

Nonso Ndibe

 

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