More dramatic is that this wide gap between these nations and Nigeria was not always the case as some relevant data at the time of our independence reveal. In 1960 the GDP per capita of all these countries were not starkly different from that of Nigeria- two were below $200, two were a little above $300 and one was slightly above $500 while that of Nigeria was just about $100. For citizens, these differentials are not mere economic data. Meanwhile by 2011, the range for all five grew exponentially with Singapore at nearly $50,000, South Korea at $22,000, Malaysia at $10,000, Brazil at $13,000 and Chile at $14,000. Our own paltry $1500 income per capita helps drive home the point that we have been left behind many times over by every one of these other countries. How did these nations steer and stir their people to achieve such outstanding economic performance over the last five decades? There is hardly a basis for comparing the larger population of our citizens clustered within the poverty bracket with the majority citizens of Singapore fortunate to have upper middle income standard of living.
Posted on: Fri, 07 Mar 2014 11:48:31 +0000
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