Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,217,817 members, 8,035,532 topics. Date: Monday, 23 December 2024 at 01:44 PM

Nigeria Is Now Effectively A Failed State – Donald Duke. - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria Is Now Effectively A Failed State – Donald Duke. (2262 Views)

Kwankwaso, Donald Duke Visit Obasanjo In Abeokuta (Photos) / Nigeria Now Effectively A Failed State -donald Duke / Donald Duke Releases 2019 Campaign Posters For Presidential Election (2) (3) (4)

(1) (2) (Reply) (Go Down)

Nigeria Is Now Effectively A Failed State – Donald Duke. by Masterstroke4: 6:10pm On May 03
Nigeria In Now Effectively A Failed State – Donald Duke.

Mr. Donald Duke, former governor of Cross River State, has noted that Nigeria is technically a failed state, as it cannot meet the basic expectations of its citizens, which according to him, is the hallmark of a failed nation.

Mr. Duke said this while delivering his opening remarks as chairman of the occasion during the Prince Emeka Obasi Inaugural Memorial Lecture held on Thursday at the Muson Centre Onikan Lagos, with the theme, ‘If This Giant Must Walk; Manifesto for a New Nigeria.’

He noted that Nigeria has been moving backwards since the 1970s, while remarking that the question is not whether the country will walk, but whether it’s walking backwards of forward.

“Between 1979 and 1983 when Shehu Shagari was president, Nigeria’s annual budget hovered around $25bn. Our population was about 80 million to 90 million at the time. That was over 40 years ago. Today, our population as they say is over 200 million, but our annual budget is $19bn,” he said.

“I said this to bring into context where we are as a people. It’s not not for Nigeria to walk, it’s how are you walking? Are you moonwalking or are you walking forward? Moonwalking is what we’ve been doing for the last 40 years. We’ve been moving backwards. So, you can now put into context the pressure if the annual budget of our nation is $19bn 40 years after it was $25bn and the population has more than doubled. Then you can understand the challenges we’re facing, whether it’s banditry, or farmers herders clashes and everything in-between. The fact is that there are more people sharing smaller resources. We have not grown.”

Mr. Duke argued that growth is not about adding zeros to the currency, and presenting budgets that run into trillions, which he said is mere deception. According to him, the country is simply living a lie.

“You can put all the zeros behind the currency, but we’re deceiving ourselves because we’re living a lie. Recently, treasury bills were sold at about 22 percent in dollars. Where in the world will you get 22 percent under 12 months? So, they now turned around to say it was oversubscribed by 245 percent. Of course, It would be oversubscribed, but at the end of the day, can you pay back? What are you doing with the money that will generate 22 percent to enable you pay back in 12 months? He wondered.

“So, you could see a nation that is walking itself into a trap with eyes wild open. What are the policies that would generate growth? You are fighting inflation, it’s good to fight inflation, but which is more important? Inflation or growth? You can’t get a loan from the bank for less than 35 percent. That’s enemical to growth to start with. Then, you are micromanaging the exchange rate, yet you are not producing. If you are going to import everything as we do, and there are those very sexy economists that would say, let’s have marked forces. For you to have marked forces, there must be some equity.

“You can’t have an open, competitive system with countries whose economies are much stronger than yours. It doesn’t work that way. In life, water finds its level. We have to manage what we have; we have to be productive. In the 70s and early 80s, we had some level of competition. We had industries that were trying to thrive, but today we are importing toothpick. So, it’s an economy that’s not productive, yet it wants to reign in on its foreign exchange. We’re still living as if everything is okay. We’re are sending our children at the age of nine to school abroad, then you go to London for medical check when your eye is hurting. It’s a tough one.”

The former governor noted that contrary to the popular belief, Nigeria has one of the smallest economies in Africa despite being the most populous on the continent.

“We turn around and say we’re the largest economy in Africa. That’s a lie. If you are 200 million people, and you are producing almost nothing, you can be big in absolute terms, but if you take it per capita, you are one of the least economies in Africa, and that’s the truth. So, we have to be real. We have the potential to be one of the greatest nations on earth, but it remains a potential if you don’t take it to actuality,” he said.

“We have to recaliberate our thinking. We can’t go on this way. We’re are a failed state, that’s the truth. Failed state doesn’t mean that you can’t exist any longer. Somalia is still existing, but when you fail to provide the basic expectations of your people, you are technically a failed state. Which sector have we not failed in? Is it education? Is it healthcare?
Is it infrastructure ?”

16 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Fujiyama: 6:16pm On May 03
undecided

The issues are not new and yet this was still tough to read.

The bit about 22% return on treasury bills deserves scrutiny - how come this didn't make it into the news cycle?

9 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by heklcoon: 6:17pm On May 03
Who remember how APC stole this Donald Duke's picture and used it as Tinubu's childhood picture and even went further to make a whole documentary with the picture on TVC. cheesy

Till date not a single apology from president and his people grin banana republik ooo

68 Likes 12 Shares

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Cindypresh(f): 6:22pm On May 03
Well, he didn't lie


Nigerians have never had it this bad...this tinubu seems to be a plague

31 Likes 4 Shares

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Dpharisee: 6:22pm On May 03
The level of frustration I see on the faces of many citizens these days is making me to feel that Nigeria is becoming a failed state. All the human development indices are in the negative and solution seems far off.
Northern Nigeria is worst hit, many people in the South who hardly travel outside their locality will not understand the critical situation

23 Likes 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Bobloco: 6:23pm On May 03
angry
Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by 100millionGoal: 6:25pm On May 03
A gigantic SHITHOLE

11 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by baliyubla: 6:25pm On May 03
Watch how those who stole Dukes pics to pass off as their coke lord come for him

24 Likes 3 Shares

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by thesicilian: 6:28pm On May 03
Just like the Tinapa Resort he built for over half a billion dollars

8 Likes 4 Shares

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by MEEVEET: 6:29pm On May 03
You are talking to people that didn't know Buhari failed for 8 years?

People who think what we need now is new infrastructure?

People who think of just wining elections?

The truth is this, critical mass of reasonable people in nigeria is too low to make any progress... From the political class to the masses

Politicians go to Dubai, china and the rest and copy what they are doing... Instead of doing what those countries did when they were in our state of development

China build speed train u build, Dubai build new island you copy, Singapore to mono rail you follow... Hong Kong build sky scrapers you copy

Nigeria is gone, don't see any hope really

15 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Nonny95: 6:30pm On May 03
thesicilian:
Just like the Tinapa Resort he built for almost half a billion dollars

You want to troll Donald Duke you stole his childhood pictures?

Agbadorians, Una get mind o😂😂

32 Likes 2 Shares

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by ElSudani: 6:35pm On May 03
The money he wasted on Tinapa if spent on Agriculture would have moved Nigeria forward a tiny bit.

3 Likes 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by thesicilian: 6:38pm On May 03
Nonny95:


You want to troll Donald Duke you stole his childhood pictures?

Agbadorians, Una get mind o😂😂
Lol
Did you see me with anybody's pictures? grin grin grin
I have my own childhood pictures thank you.

2 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by DeLaRue: 6:46pm On May 03
What did he do as Governor to make Nigeria produce more.

It's easy to make speeches.

His white elephant Tinapa project proves that he wasn't any better.

10 years later, the finances of Cross River state has not recovered from his mismanagement.

5 Likes 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Amayanabo01: 6:47pm On May 03
Before you call him unprintable names remember ur president stole his childhood pic claiming to be him

25 Likes 2 Shares

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by judatech: 6:52pm On May 03
Donald Duke is one of the most creative minds in this country.
He is one of the resources Nigeria is not using...
What he is saying is the absolute truth.
Most Nigerian elites keep their wealth in dollars...
Think about that!

16 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Nonny95: 6:53pm On May 03
ElSudani:
The money he wasted on Tinapa if spent on Agriculture would have moved Nigeria forward a tiny bit.

Photo thieves, una no go close una mouth😂

19 Likes 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Nonny95: 6:53pm On May 03
Amayanabo01:
Before you call him unprintable names remember ur president stole his childhood pic claiming to be him

They have no shame. Just read their comments

18 Likes 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Nonny95: 6:54pm On May 03
thesicilian:

Lol
Did you see me with anybody's pictures? grin grin grin
I have my own childhood pictures thank you.

Was this your comment sanctioned by Yarimo?

10 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Curious345: 6:57pm On May 03
The Igbo left leadership in the hands of Yoruba and Fulani , BUT THEY DESTROYED THE NATION

12 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by 100millionGoal: 6:58pm On May 03
They'll Tag him an Obidient

2 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Fujiyama: 6:58pm On May 03
Masterstroke4:
Recently, treasury bills were sold at about 22 percent in dollars. Where in the world will you get 22 percent under 12 months?

^^^
Which treasury bill auction is Duke referring to? 22% in dollars

Masterstroke4:
If you are going to import everything as we do, and there are those very sexy economists that would say, let’s have marked forces. For you to have marked forces, there must be some equity.

^^^
grin

Ok...not to trivialize Duke's very serious concerns - and while I agree with quite a few of the things he has said - I beg to differ on the "very sexy economists" part. Economists couldn't be sexy if their very lives depended on it. cheesy
Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by raumdeuter: 7:00pm On May 03
What date exactly did it become a failed state
Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by 100millionGoal: 7:02pm On May 03
raumdeuter:
What date exactly did it become a failed state
1970
Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by killsmith(f): 7:02pm On May 03
heklcoon:
Who remember how APC stole this Donald Duke's picture and used it as Tinubu's childhood picture and even went further to make a whole documentary with the picture on TVC. cheesy

Till date not a single apology from president and his people grin banana republik ooo
There is no honor among thieves and certificate forgers.

8 Likes 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by kettykin: 7:04pm On May 03
Duke just spoke the truth

1 Like

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by raumdeuter: 7:04pm On May 03
100millionGoal:

1970
Good and Duke was one of those who ruled since 1970

1 Like 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by gidgiddy: 7:08pm On May 03
No news here, Nigeria failed a long time ago and the only solution is break up

1 Like 1 Share

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by 100millionGoal: 7:08pm On May 03
raumdeuter:

Good and Duke was one of those who ruled since 1970
He wasn't the president of Nigeria

Hausa and Yoruba destroyed this country.

Nigeria is literally a SHITHOLE

8 Likes

Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Christistruth00: 7:11pm On May 03
What does he want this time
Re: Nigeria Is Now Effectively A Failed State – Donald Duke. by Babaken(m): 7:13pm On May 03
Amayanabo01:
Before you call him unprintable names remember ur president stole his childhood pic claiming to be him
I think say that one don pass

(1) (2) (Reply)

Obasanjo Go Now- Prof Soyinka / I Took A N2 Billion Loan To Fund My Farm: Obasanjo / Local Government Allocation

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 32
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.