The Financial Times of London, has described Nigeria under President Muhammadu Buhari’s watch, as a country going backwards economically, and plagued with terrorism, illiteracy, poverty, banditry, and kidnapping, and risks becoming a failed State, if things do not take a drastic turn, Page 36 learnt.
The United Kingdom, UK-based newspaper, said this in an editorial on Tuesday, titled: ‘Nigeria at Risk of Becoming a Failed State’.
It stated that the abduction and subsequent rescue of over 300 Schoolboys in Kankara, Katsina State, revived memories of the 276 Chibok Schoolgirls abducted in Borno State, in 2014.
According to the newspaper, while the government’s claim that no ransom was paid to the abductors of the Schoolboys remains doubtful, other acts of criminality could not be overlooked.
The editorial read in part: “The government insists no ransom was paid. Scepticism is warranted. In a country going backwards economically, carjacking, kidnapping, and banditry, are among Nigeria’s rare growth industries. Just as the boys were going home, Nigerian pirates abducted six Ukrainian sailors off the coast.
“The definition of a failed State is one where the government is no longer in control. By this yardstick, Africa’s most populous country is teetering on the brink.”
The British newspaper also questioned the claim by President Muhammadu Buhari that Boko Haram has been technically defeated.
It said that contrary to the government’s claim, Boko Haram remains an ever-present threat.
It noted: “President Muhammadu Buhari in 2015, pronounced Boko Haram technically defeated. That has proved fanciful. Boko Haram has remained an ever-present threat. If the latest kidnapping turns out to be its work, it will mark the spread of the terrorist group from its North-Eastern base.
“Even if ‘ordinary’ bandits carried out the mass abduction — as now looks possible — it underlines the fact of chronic criminality and violence. Deadly clashes between herders and settled farmers have spread to most parts of Nigeria. In the oil-rich, but impoverished, Delta region, extortion through the sabotage of pipelines is legendary.”
The newspaper stated that security is not the only area where “the State is failing” under President Buhari’s watch.
It added that Nigeria has more poor people than any other country, even as Nigeria has the highest number of out of School children on earth.
The newspaper maintained that as oil continues to lose its value, Nigeria’s economy would worsen.
“The population, already above 200 million, is growing at a breakneck 3.2 percent a year. The economy has stalled since 2015, and real living standards are declining. This year, the economy will shrink 4 percent after Covid-19 dealt a further blow to oil prices.
“In any case, as the world turns greener, the elite’s scramble for oil revenue will become a game of diminishing returns. The country desperately needs to put its finances, propped up by foreign borrowing, on a sounder footing.”
The newspaper stressed that President Buhari, who has less than three years left in Office, must use the remainder of his term to redouble efforts at improving security in the country.
It advised the government to restore trust in key Institutions, among them the Judiciary, the Security Services, and the Electoral Commission, which will preside over the 2023 general elections.
The London Financial Times said that the EndSARS protests led by Nigerian youths, signalled a glimmer of hope for Nigeria’s teeming youth population.
It added: “The broad coalition that found political expression this year in the EndSARS movement against Police brutality, provides a shard of optimism. At least Nigeria has a relatively stable democracy. Now Nigeria’s youth — creative, entrepreneurial and less tainted by the politics of extraction — should use that system to reset the country’s narrative.”
The newspaper concluded by saying that it is time for Nigeria to restructure its political system, and concentrate on security, health, education, power, and roads.
“At the present trajectory, the population will double to 400 million by 2050. If nothing is done, long before then, Nigeria will become a problem far too big for the world to ignore.”
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