President Goodluck Jonathan has urged heads of other countries to join forces with Nigeria in stamping out terrorism from the country, the continent, and the rest of the world.
Speaking on Thursday on the occasion of the Centenary Conference themed Human Security, Peace and Development: Agenda for the 21st Century, Jonathan emphasised the importance of countries working together across boundaries, not only to coordinate and strengthen their defences but also to address the socioeconomic roots on which these extreme ideologies thrive.
He called for greater regional cooperation in intelligence gathering, saying the control of insurgents will ensure not only Nigeria’s security, but also the security of its neighbours.
Describing the rising menace of the use of small arms and light weapons as a great threat to the world’s human and national security, he revealed that out of the 500 million illegal small arms and light weapons in the world, an estimated 100 million are in Africa, with 10 per cent in West Africa, mainly in the hands of non-state actors.
“Today, as our nation marks its first 100 years, we look back with gratitude to God and with pride in our citizens. We look forward also, to the future, with hope and confidence”, he said.
“In this hall and beyond, I am delighted to welcome many of our past, current and future leaders, as well as our friends and partners, from near and far, persons and nations that have stood with us in times past, and whose friendship we will continue to cherish in the years to come.
“It is my unique honour and privilege to welcome you all to this Conference, a shared moment, to celebrate the 100 years of the Nigerian nation; and for profound reflection on our challenges and opportunities as a continent.
“Your Excellencies, only one year ago, in Addis Ababa, Ethiopia, Africa celebrated 50 years of the establishment of the Organization of African Unity, now the African Union. On that occasion, African leaders reflected on our history and on the state of our union and we re-committed ourselves to building a new Africa, which will usher in greater peace, security and prosperity for our peoples.
“But as I address you today, I have a heavy heart. Two days ago, terrorists invaded a secondary school and murdered innocent children in Yobe State, while they slept. The children, the hopes of their parents and the future leaders of our dear nation, had their hopes and dreams snuffed out, leaving behind grieving families, schoolmates, communities and a sad nation”.
He conveyed his prayers and thoughts to families of victims of the killing, which he described as gruesome and mindless act of savagery that is totally not Nigerian or African. Jonathan assured that his administration will spare no resource in bringing those murderers to justice.
He expressed happiness with Africa’s rise, noting that seven of the fastest growing economies in the world are in Africa, while investment in the continent by Africans in the Diaspora bears testimony to the increased level of confidence in our continent.
He praised the rising middle class and greater penetration of Information and Communications Technologies, which when combined with a fast-expanding financial services sector, are all pointers to a better future. But we must secure this bright future. To do so, we must seriously address the issues of human security, peace and development.
“Your Excellencies, as you well know, the issues of human security and peace are indispensable in the life of every nation. For far too long, in many parts of the world, especially in our continent, governments had placed much emphasis on the security of the state, and our very scarce resources were committed to military and regime security, at the expense of human security.
“We recognize human security as encompassing firm guarantees for human rights and good governance, that translate into expanded opportunities for economic security, food security, health and education security, environmental security, and personal and community security.
“A firm commitment to human security holds the promise of an end to persistent conflicts, insecurity, poverty, disease, terrorism and other scourges that undermine the attainment of our dreams.
“We must emphasize that human security and peace are intertwined. Peace is not just the absence of violence or war. Peace encompasses every aspect of social tranquillity and wellbeing. The peace we strive for is a state marked by the absence of severe human want and avoidable fear. In our lifetime, this peace is attainable, in our nations and our continent”.
He also spoke of the need to strengthen existing mechanisms for national and international conflict management, and create new avenues for cooperation, within and between our peoples and our Nations. He canvassed the view that with focused and cooperation, the 21st century can be the African century — the century where all African children have enough to eat, the century where all children will be in school, where economic growth and prosperity touches all, regardless of gender, economic, political status, ethnic or religious affinity.
But for this to be achieved, he agreed that development on the continent must be people-centred, people-driven and anchored on human security. He stated that the current state of human security, peace and development in our dear continent presents a picture of hope as well as challenges. He noted that for over a decade, Africa has consolidated on its democracy, and many countries have exited military dictatorship, which has now a heightened commitment to the tenets of good governance, and the rule of law.
“Nigeria has always sought security, peace and development. We are steadily developing a strong and vibrant democracy. There is enthusiastic participation across the Nation, with a purposeful government and active opposition parties. This was clearly expressed in the last national elections held in 2011, which received wide national and international acclaim, and was adjudged the freest and fairest ever in our nation’s history”, he continued.
“But as our nations grow, and as Africa grows, we must address some fundamental challenges to our human security, peace and development. Terrorism, which is a global menace, has extended its tentacles to Africa and Nigeria. In concert with our regional and global partners, we will continue to respond strategically and decisively to this scourge, and together with our people we shall end the killings and bring terrorism to an end.
“Your Excellencies, let us work together across boundaries, not only to coordinate and strengthen our defences, but also to address any socio-economic roots on which these extreme ideologies thrive. Terrorism must be condemned in the strongest possible terms. We all must work together, collectively, to rid our world of haters of peace, who use terror to maim, kill, instil fear and deny people their rights to peace and security”.
“The Boko Haram insurgency in Nigeria is one of such condemnable acts of terror. We have continued to deploy human and military intelligence, in close collaboration with our partners, to bring an end to their nefarious activities. Greater regional cooperation in intelligence gathering and control of insurgents will ensure not only Nigeria’s security, but also the security of our neighbours.
“A great threat to our collective human and national security is the rising menace of the use of small arms and light weapons. Out of the 500 million illegal small arms and light weapons in the world, an estimated 100 million are in Africa, with 10% in West Africa, mainly in the hands of non-state actors.
According to Jonathan, Africa has had enough of wars and their cost, as well as that of insurgencies, is too high. He stated that Africa loses an estimated 18 billion dollars per year from wars and insurgencies. He said wars, insurgencies and conflicts impact neighbouring countries even more, due to displacement of refugees, illegal trafficking of arms and disruption of economic activities.
The president maintained that when there are wars or conflicts, we all lose and when there is peace, we all win. He therefore stated the need to deepen the resolve to regulate the illicit trade in small arms and light weapons, strengthen enforcement of the regional protocols, such as the Economic Community of West African States (ECOWAS) Convention on Small Arms and Light Weapons, their Ammunition and Related Materials; and the Nairobi Protocol for the Prevention, Control, and Reduction of Small Arms and Light Weapons in the Great Lakes Region and the Horn of Africa.
“We must do more to reduce some of the drivers of growth in illicit small arms, including human insecurity, inequalities, marginalization, ineffective disarmament, social exclusion and the culture of violence.
“Africa faces a huge challenge with youth population bulge. By 2050, it is projected that about 40% of the population of Africa will be made up of young people below the age of 15 years, while about 60% of the population will be made up of young people below the age of 25 years.
“A major concern is the high level of unemployment among the youth, especially those that are educated and skilled. No priority for human security is more important for African countries than a sharp focus on creating jobs for this teeming youth population. Skills acquisition, entrepreneurship development, encouraging the youth to go into agriculture as a business, and providing them with access to cheaper financing to fulfil their dreams, are all needed to harness and unleash the power of our youth to secure our collective future.
“To foster this, we need to further strengthen intra-Africa trade to create jobs. Africa must add value to its primary products and commodities to ensure that wealth is created on the continent. This will create wider scope for prosperity for our populations.
“We must address the issue of inequality. There is no doubt that Africa is growing and our economies are among some of the fastest growing in the world. But this growth is not creating enough impacts in terms of improving the living standards of our people”.
The president further spoke of the need for inclusive growth capable of stimulating broader shared prosperity among the citizens, adding that social policies that improve access to food, water, housing and education are crucial for inclusive growth and social participation.
While speaking on the importance of addressing the challenges of climate change, he observed that Africa accounts for less than three percent of greenhouse emissions, but it bears the greater brunt of the negative impacts of climate change, such as increasing incidences of floods and droughts, which create vulnerabilities, displace populations and threaten human security.
“The Africa Risk Capacity, the Specialized Agency of the African Union, has a major role to play in reducing the impacts of climate change on farmers, pastoralists, food security and budgets of governments as they address the challenges imposed by extreme weather events and natural disasters”, he said.
“Africa must address the issue of women empowerment to improve human security. When there are wars and social conflicts, women and children bear the brunt of it. So, when we have peace and stability, women and children should be those who benefit the most.
“That is why I am calling today for an Affirmative Finance Action for Women. Under this action, banks should devote at least thirty percent of their bank lending in Agriculture to women farmers and women-owned agribusinesses. The evidence is clear that women rarely default on loans. This purposeful focus on women must become our priority for the post-2015 MDGs.Securing women’s future will secure Africa’s future.
“This brighter future can only occur, if we improve governance and accountability systems. We must reduce the cost of governance and increase more of the national resources on the governed. In particular, we need to reduce the cost of elections and electioneering and shift greater focus on ensuring that the dividends of democracy are delivered to our peoples.
“But democracy alone is not enough. We must remain vigilant and look into our peculiar situation in Africa and identify critical factors that belies the extremism and terrorism that threatens our collective security. The enemies of the state today in Africa are often faceless, driven by religious extremism, ethnic mistrust and rivalries, and propagandas of hate. Their nefarious actions are not limited to any single country and no one is immune.
“Therefore, as leaders we also must change our approach and work more closely together to confront and defeat terrorists and purveyors of hate. Terrorists do not respect borders or boundaries. While we respect our national boundaries, terrorists move in and out of our borders. It is now time that we agreed as African leaders that acts of terror against one nation is an act of terror against all.
“We must not allow our countries to become safe havens for terrorists. We must cooperate maximally in better managing our political boundaries. We should adopt protocols that allow countries to pursue terrorists well into their safe havens in other nations. While we cannot redefine our borders, we must re-define our collective approach to ending trans-boundary terrorism and insurgencies”.
Jonathan also urged the African Union Peer Review Mechanism to pay greater attention to the issues of human security, peace and development. He proposes the development of an African Human Security Index that helps to measure the progress on these and other critical issues in Africa, as shaped by African countries themselves.
He argued that what Africa needs more than anything else in this 21st century therefore is collective action for positive transformation for the good of Africa, saying there is no doubt that this is the African century.
“That is why I want to call on other African leaders to join me in seeking new ways to achieve our goals together, new strategies and workable solutions that advance our cause for peace and development”, he said.
“Let us work towards an Africa, where economic growth leads to jobs for all school leavers, regardless of their ethnicity, their religion, or their gender. Let us work towards an Africa where we all live free from the fear of war and terrorism, and where young Africans see a future for themselves in productive employment, enterprise and education, and not in the false promises of extremist ideology.
“We must work towards an Africa in which human security is a priority for all governments, where genuine and lasting peace makes it possible to achieve, and where economic development works for the benefit of all. It is that Africa of peace, of equity and justice that I crave and it is that Africa that seeks and secures democracy, the democracy that guarantees human happiness.
“Your Excellencies, distinguished ladies and gentlemen, the past is behind us and the future beacons on us. As leaders, we must build a future Africa that generations yet unborn will be happy we bequeathed to them. This must be an Africa devoid of wars and conflicts. An Africa where there are no borders. An Africa where there is free movement of people, goods and services. An Africa that is full of boundless opportunities. To this new Africa we must commit ourselves. Long live Africa, Long live Nigeria, God bless you all”.
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The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has offered whistleblowers between 2.5 per cent and 5 per cent of recovered stolen Nigerian assets held abroad for information that leads to their recovery.
Olukoyede disclosed this on Wednesday while delivering a lecture at the Cambridge International Symposium on Economic Crime in the United Kingdom.
According to him, the ability of EFCC operatives to trace assets, cooperation from the judiciary and access to credible intelligence have played important roles in the commission’s success in securing non-conviction-based forfeiture orders.
He also described the EFCC as having some of the best investigators in the world and stressed the importance of protecting and encouraging whistleblowers.
He said anyone with credible information about stolen Nigerian assets taken or hidden anywhere in the world could receive between 2.5 per cent and 5 per cent of the recovered assets as an incentive, with payment made after the recovery.
Olukoyede further revealed that the EFCC had forfeited cash and assets worth more than $500 million to the Federal Government within the past three years.
He cited several cases involving the recovery and forfeiture of assets, including cases linked to a former Chairman of the Central Bank of Nigeria and a former Attorney-General of the Federation.
The EFCC chairman explained that the commission is legally empowered to seek the forfeiture of suspected proceeds of crime by applying to the High Court for an order. He said the process is similar to procedures used in countries such as Australia and Canada.
Olukoyede also recalled a case involving an aircraft allegedly acquired by an individual who was accused of receiving about $30 million in bribes in connection with a power project. He said the aircraft was forfeited about three months ago and had subsequently been added to the presidential air fleet.
He also referred to a property containing about 753 housing units that was forfeited from a former CBN governor, against whom the EFCC has filed criminal charges in three courts.
Speaking about the immediate past Attorney-General of the Federation, Abubakar Malami, Olukoyede said the EFCC opened an investigation following allegations of abuse of office. He claimed that investigators traced about 57 properties to Malami and that approximately 48 of them had been forfeited.
The EFCC chairman further mentioned the forfeiture of a private university allegedly linked to a director in the Federal Ministry of Health. According to him, the official voluntarily surrendered the property following the commission’s investigation.
Olukoyede said the measures demonstrate the importance of asset tracing, international cooperation, credible intelligence and whistleblower protection in the fight against financial crime and the recovery of stolen public assets.
The Dangote Petroleum Refinery has raised concerns over the growing volume of imported petrol entering Nigeria, warning that it could be forced to export more of its own production if the trend continues.
The refinery said imported Premium Motor Spirit (PMS) made up roughly 43 per cent of the petrol supplied to the Nigerian market in July. It argued that the development was creating serious difficulties for a domestic refinery with the capacity to produce enough fuel for the country.
Dangote Refinery explained that it has maintained sizeable petrol reserves since commencing operations to ensure that consumers across Nigeria have access to a reliable supply. Keeping those reserves, it noted, requires substantial expenditure on storage, transportation and working capital.
However, the refinery said the continued granting of import licences without adequate information about expected import volumes has made it increasingly difficult to determine how much petrol should be produced and stored for the local market.
The company said holding large quantities of petrol becomes financially burdensome when there is no certainty about how much imported fuel will compete for the same market. It therefore considers exporting surplus stocks a more commercially viable option than allowing them to remain in storage indefinitely.
According to the refinery, increased exports in recent months should not be interpreted as evidence that Nigeria lacks sufficient refining capacity. Instead, the exports are being driven by excess stock resulting from unpredictable import volumes.
Dangote Refinery maintained that it remains fully committed to supplying the Nigerian market and has the capacity to meet or surpass the country's petrol requirements. It said its decision to export surplus products was aimed at managing inventory efficiently and avoiding unnecessary storage and financing expenses.
The refinery also warned that market disruptions caused by excessive imports could make it harder for domestic refiners to accurately predict demand. Any resulting supply problems, it said, should not automatically be blamed on local refineries.
It urged regulators and other industry stakeholders to improve transparency around petrol imports and strengthen coordination within the downstream petroleum market.
The company argued that policies that give greater support to domestic refining would help Nigeria reduce its dependence on imported fuel, conserve foreign exchange, strengthen energy security and maximise the economic benefits of investments in local refining infrastructure.
Dangote Refinery said it remains prepared to supply the country but stressed that a more predictable and transparent market environment is necessary for efficient production and inventory management.
Business
In The Spotlight
A group of heartless carpetbaggers have captured the Nigerian state, and it appears that they, their biological and political descendants, will hold the levers of government and access to Nigeria’s commonwealth for a long time to come.
When you consider news reports of how previous and current state actors steal public funds, buy choice properties in the toniest districts of Nigeria’s major cities, acquire private jets, and even establish private universities, you wonder if some people have more than two heads, to adopt a Yoruba phrase.
Either because of an inability to deliver the greatest good to the greatest number of Nigerian citizens, or by intention, the political elite have kept the people poor, causing them to depend on the largeness of heart of the same elite to meet their existential needs.
That explains why poor, downtrodden, and unconnected Nigerians eagerly collect crumbs of measly N5,000, rice, gari and whatever else the politicians offer to obtain their election votes or acquiescence after rigging the elections.
When watching an economically disadvantaged individual tell a politician who is seeking to become a legislator the good news that his wife just had a new baby, and he needed to prepare for the naming ceremony, it felt like the oppressed poor were enabling his oppressor to further oppress him.
It was like the classic case of Stockholm syndrome, of victims collaborating with their “captors” to cement the oppressive stranglehold that they already had over the state and the commonwealth of the nation, thus unwittingly arresting their own future development.
A running mate to a former governorship candidate in a Southwestern state hilariously regaled Nigerians with the story of how constituents would have raided all the alcoholic drinks in his refrigerator in the early hours of the morning, even before he woke from the hectic campaign tour of the previous day.
The political elite have practically cornered the Nigerian state for themselves, children, tribesmen and acolytes, and have devised a way to admit only those that they have found to be loyal, or pliable, into their rank of oppressors.
The oppression of the citizens of Nigeria is easily accomplished because of the high illiteracy level amongst the poor masses. The use of the weapon of illiteracy is more evident in Northern Nigeria, whose political leaders somehow turn a blind eye to the illiteracy and underdevelopment of their people.
In 2024, UNICEF revealed that out of Nigeria’s 18.3 million out-of-school children, about 12.1 million, or 66 per cent, were resident in the Northwest and Northeast regions. Yet, instead of expanding educational facilities and opportunities, some Northern governors are arranging mass weddings for children who are hardly out of their teen years.
And this is not to deny the weaponisation of illiteracy even in Obafemi Awolowo’s Western Region, which is regarded as the Athens of Nigeria, after its pre-Independence head start of free, universal and compulsory primary school education.
As if he had a premonition that Nigeria’s so-called democrats would eventually compromise education, to the detriment of the lowest and marginalised masses, that Karl Marx described as the “lumpen proletariat”, French political thinker Montesquieu argued a long time ago that “It is in a republican government that the whole power of education is required.”
Western Nigeria’s free education scheme was gradually abandoned from the days of the Second Republic when some Yoruba members of President Shehu Shagari’s political party knocked it off its bottom with the argument that “qualitative” education was better than “free” education.
It is more than a shame that a free, universal and compulsory primary school education scheme was abandoned under President Shagari, who not only was a trained teacher, but had a career as a teacher before his political career.
Awolowo had warned Nigeria’s political elite with the following quip: “The children of the poor that you failed to educate will not let your children sleep peacefully.” The insecurity that currently occurs in nearly every part of Nigeria only drives Awolowo’s point home.
Probably the realm of the Nigerian republic that has been most complicit with the carpetbagger political elite is the media, whose members either serve the elites as press secretaries who kill media brushfires, or editors who either run planted stories, or spike stories that the politicians do not want published.
The media is so compromised that it can hardly perform those responsibilities assigned to it by Section 22 of the Nigerian Constitution, which are to “be free to uphold the fundamental objectives contained in (Chapter II of the Constitution) and uphold the responsibility and accountability of the Government to the people.”
Some apologists have argued on behalf of the media that the political elite have so run the economy aground that the media, which can only thrive as commercial enterprises within Nigeria’s quasi-capitalist economy, cannot stay afloat, especially with the devastating inroads that the digital media are making into their audience, advertising revenue and profit.
The absence of regional economies, the argument goes, prevents the emergence of regional newspapers that can thrive on advertising revenues from regional companies, the way it obtains in the economies of North America and Western Europe. Many Nigerian newspapers, that are essentially regional, often pretend to be national to receive advertising revenue from companies whose market is national.
Two other collaborators of the political elite are the election management agencies and the judiciary at both the national and sub-national levels of government. The conspiracy between these agencies and the political elite is almost like that of Siamese twins conjoined by the belly button.
After the election management agencies may have deliberately bungled (especially) governorship and legislative house elections, and declared false reports, the losers, who felt that they won the election, would then approach the temple of justice, with significant financial inducement to ask for justice(?).
From that point on, the justice that both contestants hope to corruptly obtain could swing according to the heft of the naira in the Ghana-must-go bag that they will be hauling into the chambers of the denizens of the corrupted judiciary.
Thus, the “award” of electoral justice is “a matter of cash”, to quote Basi, the protagonist of “Basi & Co”, the television sitcom produced by environmental activist Ken Saro-Wiwa, who himself was denied justice from the judiciary that served the regime of General Sani Abacha, Nigeria’s most notorious military dictator.
In Nigeria, the lines of separation of powers that demarcate the duties of the three arms of government –the legislative, executive and judiciary– and the checks and balances that empower each arm to check the others have become almost irredeemably blurred.
As legislators use constituency projects as a ploy to carry out the functions of the executive, the president issues executive orders that are essentially legislative in nature. Though the judiciary does not perform the duties of the other arms, it fails to check them as it indulgently winks at their excesses.
If those who are regarded as Nigeria’s political elite really know what is in their enlightened self-interest and would like to protect the future of their descendants from what Thomas Hobbes described as a short, brutish and nasty existence, they will use their current privilege to correct the evil they have done to Nigerians.
They must urgently redeem the future before it delivers violence against their children.
By Lekan Sote
In The Spotlight
Lagos alone is worth more than Botswana, Namibia, Rwanda and Mauritius combined.
Let that sink in.
With an economy of N41.17tn — about $102bn in 2021 — Lagos State dwarfed the entire gross domestic products of four countries. Rivers, Akwa Ibom, Delta and Bayelsa sit on oil wealth that funds nations. Ogun, Anambra and Imo churn out goods, services and commerce that would make small economies jealous.
By the numbers, Nigeria’s states are giants.
But walk the streets of Lagos, and you will still find mothers cooking with firewood. Drive through Port Harcourt, and you will see communities drinking water polluted by the same oil that makes the state’s GDP glow. Visit Umuahia, Abeokuta, or Minna and ask the average trader what “trillion-naira economy” means to her dinner table.
The answer is: nothing.
That viral video telling you “10 Nigerian states are richer than countries” is both true and a lie. True, because the 2021 BudgIT figures don’t lie — Lagos at N41.17trn, Rivers at N7.96trn, and so on. A lie, because those numbers are GDP, not prosperity. They measure how much economic activity happens _in_ a place, not how much of it reaches the people who live there.
A country with $7,778 GDP per capita, like Botswana, will still feed its citizens better than a state with $102bn in total output but $2,058 per capita, like Nigeria. A state can host a port, an oil rig, and a tech hub, yet fail to build a hospital that works.
So, the real question isn’t “Which state is bigger than which country?”
The real question, and the one our governors should lose sleep over, is this: When your economy is bigger than a nation, why are your people still living like they have nothing?
In this edition of The Bottomline, we follow the money from GDP to the gutter — and ask why Nigeria’s trillion-naira states have not become trillion-naira lives.
The viral numbers are not new. They were lifted straight from BudgIT’s 2022 State of States report and reflected 2021 estimates: Lagos at N41.17tn, followed by Rivers at N7.96tn, Akwa Ibom at N7.77tn, Imo at N7.68tn, Delta at N6.19tn, Anambra at N5.14tn, Ondo at N5.10tn, Ogun at N5.03tn, Bayelsa at N4.63tn and Niger at N4.58tn.
The trick is in the timing. To pitch those 2021 figures against 2025 country GDPs is statistical fraud. Nigeria has since rebased. The NBS moved the base year from 2010 to 2019, and the whole map shifted. Lagos itself has moved on: its 2025 _Lagos Economic Development Update_ puts the state at N43.06tn in 2023, with forecasts of N54.77tn for 2024 and N66.47tn for 2025. Those are projections, not fresh NBS post-rebasing observations, but they tell you the direction: up.
There is no debate that Lagos is Nigeria’s economic engine. From a colonial port to federal capital until 1991, it never lost momentum. Today, trade, manufacturing, ports, telecoms, tech, entertainment, real estate and finance all cluster in just 3,345 square kilometres. Compare that footprint to Botswana’s 581,730 sq km, Namibia’s 825,615 sq km, Rwanda’s 26,338 sq km, and Mauritius’ 2,040 sq km. Yet in 2021, Lagos’ $102 billion economy was several times larger than Botswana’s $19.9bn, Namibia’s $15.1bn, Rwanda’s $16.4bn, and Mauritius’ $16.2bn, according to 2025 World Bank figures.
That comparison is legitimate. The conclusion people draw from it is not.
GDP tells you how much value was produced in a territory. It does not tell you who owns it, who earns it, or whether the roads work, the lights stay on, or the hospital has drugs.
A state can run a trillion-naira economy and still have mothers boiling water on firewood. A country can have a smaller GDP and deliver a better life. Look at the per capita numbers: Botswana at $7,778, Namibia at $5,309, Mauritius at $11,819. Nigeria sits at about $2,058. Even Rwanda, at just $773 per capita, has pushed its $3-a-day poverty rate down to 38.6 per cent — proof that size is not destiny.
The oil states expose the fraud most brutally. Rivers, Akwa Ibom, Delta and Bayelsa rank high because petroleum inflates their GDP. But oil wealth does not flow into state coffers in equal measure, and it certainly does not flow into household wallets. BudgIT’s own fiscal sustainability index proves this. In 2022, Rivers topped overall fiscal performance despite Lagos having the biggest economy. A big economy without revenue discipline, jobs, and services is just a billboard.
Nigeria does not have a GDP problem. We have a translation problem.
We have pockets of enormous economic power. Lagos. Rivers. Akwa Ibom. Ogun. Anambra. Delta. The output is real. What is missing is the bridge between that output and ordinary life.
Until economic activity creates real jobs, until IGR rises and addiction to federal allocation falls, until infrastructure supports production instead of strangling it, those trillion-naira figures will remain a cruel joke.
So let the video go viral. Let Lagos be “bigger than Botswana”.
But governors, commissioners, and citizens should ask only one question:
If my state can outproduce a country, why can’t it out-deliver a decent life for the people who call it home?
Until we answer that, we are not rich. We are just big.
By Raphael Mbamalu