THE MINT COUNTRIES: NIGERIA IN PERSPECTIVE. About a decade and a half ago a reputable and respected banker, one Mr. Jim ONeill, a former chief economist and head of assets management at Goldman Sachs, coined the term BRIC for four countries ( Brazil,Russia,India,and China ). These countries were poised to join the group of eight (G8), ( USA,UK,Germany,Japan,France,Italy,Canada and Australia ), the most advanced and developed economies of the modern world. South Africa was later added to the four countries of BRIC which formed the new coinage BRICS . Added to the BRICS countries were emerging economies or countries including Iran, South Korea, and Pakistan which he termed (N11) ie Next 11 also including the next to be mentioned the MINT countries. Now ONeill is back marking out four other countries which he called MINT ( Mexico,Indonesia,Nigeria and Turkey). According to Mr. ONeill, the MINT countries out of the (N11) ie Next 11 are the ones to watch out for huge economic growth and being the worlds next economic giants. He also asserted that if these MINT countries get their acts together, they can get bigger and enormous and if not as big as the BRICS, then not far off. The quartet of the MINT countries with their very favourable demographics for at least the next 20 years and their economic prospects is promising. We will make Nigeria at this juncture our centre of attention and discussion as regards the prior assertion of the potentials for economic growth and sustained success. Our vested and special interest in Nigeria also emanates from our collective and common destiny to its economic and political emancipation which propel and encourages us to continuously strive, crave, search and proffer solutions to its myriad economic, political and social malaise blocking our huge potentials for economic and political greatness and sustained progress and success. Nigeria was described as the most exciting of the Next 11. The country is rich in resources both natural and human. Nigeria was at the same time described as a place of complete madness, with structural disorderliness, chaotic and ineffective tax system, epileptic and disappointing energy sector, pervasive corruption, official mismanagement and waste. Due to the level and extent of decay in the affairs of Black Africas largest economic powerhouse, one can not be 100% sure, given its challenges that it will be or remain one country in four years time. Nigeria is suggested that,after India, its the best in the world in terms of useful population.
Posted on: Wed, 13 Aug 2014 21:25:26 +0000