The United States just reached agreement with India to be their highest supplier of Oil (meaning we have lost both India and USA in Oil supplies/sales).
What then is the option, in terms of the Oil revenues as a critical Budget funding component and a major supplier of funds to the Federation Accounts (and the net-effects on the FAAC allocations) – as obviously there would be a shortfall arising from the New World Order courtesy of the USA new political economy direction.
Nigeria’s population by 2030 will be 300 million (source: WorldBank), with over 100 million working population (between 18 to 60 years), and about 60 percent of the entire population below 40 years.
With 33 million metric tonnes of grains deficiency.
30 million housing deficit.
22 million out of school children.
Unemployment rate of over 30 percent.
The unemployment rate therefore translates to over 30 million people (of the over 100 million working population).
And over 40 percent of youth unemployment (which translates to much more than the unemployment rate).
When the 30 million unemployed people are added to the 22 million out of school children (that’s 52 million), and releasing that South Africa is a mere population of about 55 million people, same with United kingdom, and Ghana with a population of slightly over 30 million, it becomes easy to understand the unbridled permeating of forces of terrorism, banditry and all forms of criminality, and social de-stabilisation in all corners of the country – the Nation has become harbinger of idle hands, and entrenched and endemic poverty, hence easy recruiting ground of evil perpetration.
Solving the challenges of extreme poverty, weak infrastructure, low productivity and unemployment is the only trumpcard to National survival, otherwise just imagine an army of over 100 million idle hands rooming the streets and doing nothing, and not sure of where their next meal will come from – imagine the contestation for survival in such environment of absolute lack of opportunities – better imagined than experienced.
A reason we all should fold our sleeves and get to work rightaway, or all hell will let loose on all of us sooner than later.
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Nwaodu Lawrence PhD, is a development  Economist
