PROFESSIONAL CHARTERED ECONOMISTS AND NATION BUILDING: THE CASE OF NIGERIA
Authors:
Dr. Amieyeofori Valentine Felix (Phd)
Abstract:
This paper reviewed the etymology of nation-building, and the evolution of the Nigerian nation, its colonization by Britain, and eventual political independence in 1960. The paper noted Nigerian’s chequered post-independence struggle towards stable nationhood and economic independence, occasioned by several existential threats from the 1967-1970 civil war, to religious and sectarian insurgencies and violence that resulted in the death of thousands of innocent Nigerians. It also highlighted the unfortunate scenario of Nigeria becoming the Poverty Capital of the World in 2018, and retaining that position even in 2019, with nearly 100 million people living in extreme poverty. This is despite its abundant natural and human resources, and as a major producer and exporter of crude oil, and gas. The paper also noted the unsuccessful attempts by successive governments to diversify the economy from oil and gas dependence that contributes less than 10% of GDP but provides more than 80% of foreign exchange and 50% of gross national income. The economy is also plagued by increasing national debt and unemployment, inflation, coupled with less than 4000 MW of electricity distribution for its nearly 200 million citizens and industries. The paper identified a lack of collective and consistent national development agenda and mistrust by the constituent members as the major cause of Nigerian problems. Consequently, the paper recommends more active and visible roles for the Professional Chartered Economists in the country, given their skills, and knowledge in development, geographical spread, involvement in Public, Private, and the Academia, in addition to their high professional ethical standards. As a community of professional economists, the paper further recommends the Professional Chartered Economists to champion a conference of all Professional Chartered Associations in the Country towards evolving a collective and consistent development agenda and implementation strategies for the Government.