by Layi Deinde

NIGERIA is a developing country though with the highest GDP in Africa.


It is one country with huge potentials that requires a visionary leadership to unleash.

The repeated news of several investments gone sour contrast the statistics of huge poor population with low purchasing power.

There is a great disconnect in the land among nations with highest GDP per capita, Nigeria ranks not among the top ten in Africa.

This is a nation with many wealthy politicians, clerics as well as many who flaunt material wealth with limited means of generating income.

The disconnection breeds illusion whereby process is deemphasized while people remain fixated on proceeds, only few clerics help in stressing diligence, the bulk of them only pray for their congregation to hit it big while they are silent on what brings those rewards.

The year that is almost ending has been one with numerous sad tales of investment gone sour.

While we go by public reports of prevalent poverty in Nigeria, several are fleeced of the funds once said to be unavailable.

One wonder how people with limited funds are made to part with same.

This is not unconnected with greed as victims relish the catch phrase of ” end justifies the means”  The mouth watering promises of certain percentage that no known bank pays, the dream of trying to outdo that friend who spends lavishly blind hapless citizens from the means, looking at only the end.

Those involved are smart enough to ensure the trap is well laid, giving returns to a few as illustrations for many to fall into the trap.

As soon as there are enough victims and enough money in the kitty the business winds down and the promoters elope.

Worrisome is the recurring trend of this.

The lessons of MMM of the pre-pandemic era looks forgotten.

Government should be bothered as this trend is not ideal for a growing economy that needs all funds available for a possible lift. It goes further to deny genuine business developers necessary funds as investors are lured away with mouthwatering returns.

The National Orientation Agency as well several agencies of government should step up their games in protecting citizens with relevant information. There is need to educate the public more on process being a prerequisite for proceed. Never should the manipulators have a field cashing in on the desperation of many to earn quick returns without going through a cycle of effort.

I wish you have a nice November.

*Oloye Layi Deinde is a social critic, an online and public commentator, he writes from Otta, Ogun State