Six out of the ten fastest growing global economy, are in Africa. Suffice to say
that Nigeria failed to make the list. This could be owed to the hypocritical approach of the governments, in ensuring that genuine policies aimed at leveraging on the country's potentials, to build a formidable economy stands. There have been numerous attempts to enact policies that would have seen the sprout, sustenance of industries and ultimately, an all-round economic development; but like apparitions, they fizzled away before they were able to make any meaningful impact. As a result, the nation's economy continued to dwindle, up to it's current state, where it's no longer recognized among world's fastest growing economies.
Fareed Zakaria, on a recently aired CNN's "What in the world" stated: ..."Africa continues to face massive problems in the form of corruption and mismanagement, not to mention natural-conflict. So would the continent's promising growth statistics reflects the simple fact that Africa is rich in natural resources, and a growing world-economy has created high demand for these products. Africa would however, demand the world's attention over the coming decades. It would have 1 billion people to its population by 2050, and 2 billion more by the end of the century; at which point, more than one in three people on the planet would be African. That demographic boom could create enormous problems, if it’s not accompanied by jobs and political stability. But it could provide the world with energy and dynamism, as populations age and growth slows than most of the rest of the world".
In what could be described as a perfect example of the many problems the African continent is confronted with on all sides, and which have overtime, stalled its development. A Nigerian business man has cried out against the Nigerian Customs Authority, following what he termed the unlawful seizure of over 700 bags of made-in-Nigeria bags of rice recently in Lagos, Nigeria.
As fragile as the situation seems, there is hope for the continent, Zakaria stated- "Much of these would depend on Africa's leaders, who would have to finally fulfill the promise of the continent and its people. Too many have stolen from their people for too long".
