What's the root cause of Nigeria's economic crisis? | Inside Story

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What's the root cause of Nigeria's economic crisis? | Inside Story


Nigeria is a resource-rich country, it has Africa’s largest population and it’s one of the world’s top oil producers.
Yet, the nation of more than 200-million people has struggled with corruption, economic mismanagement and a weak currency.
A general strike this week is once again drawing attention to these challenges.
Union leaders want a…

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@AhmedAli-wo1qy
3 days ago

Why would a government devalue their currency when you don't export anything. Tinubu is just a clueless man.

@AhmedAli-wo1qy
3 days ago

Why would a government devalue their currency when you don't export anything. Tinubu is just a clueless man.

@midnightwarrioryang9563

That’s what you get when your country is run by dictatorship and Corrupted government.

@WilliamIzedomiOhirein

High population growth rate and over population are nigeria's biggest undoing.
Followed by financing , subsidising imports/ consumption instead of agriculture/manufacturing.
Nigeria has on going programs to convert vehicles into running on CNG. Finance msme, sme etc.
To build 1.5mbpd oil Refinaries and increase crude oil production from its current 1.45,bpd to 2.6mbpd. These will make a big difference.

@Baba-h6u1k
3 days ago

NLC. Toothless bulldogs.

@ephramevezi48
3 days ago

Scrapping Fuel Subsidy was done to appease IMF.
Hey, there is still fuel subsidy.
APC govt is a lie and a fraud.

@gracenmercy1085
3 days ago

The guy in Abuja is not in touch with reality, the lady in the U.S has no clue. Only the guy in Maiduguri is speaking the TRUTH. And Tinubu has no vision for Nigeria. He is only there to occupy space, hopefully, not for the next 8 years. Peace.

@THELOF1
3 days ago

The govt guy has no answers. They took the subsidy and are doing what with the money????

@akojiokolo8234
3 days ago

At the market a tomatoes trader said he did not buy tomatoes because he wouldn’t be able to resell them as the prices were too high

@TeeO8080
3 days ago

Good video.

@oluwatosinajewole9154

DRY,IYP Yoruba nation is out of Nigeria our President is OMOBOLAJI OLAWALE Akinola OMOKORE so Aljesera TV pls count DRY,IYP YORUBA NATION OUT of Nigeria

@sholasholknb9199
3 days ago

Hamzat, without fear or favour articulated the grassroots reality, Great Nigerian 🇳🇬
Amaka is pretty and educated
Halil is just another government appointee enjoying the largess and disconnected from reality

@nedgrg6800
3 days ago

Inability to elect competent leaders in power due to corruption and religious/ethnic bigotry

The British didn’t identify this before creating Nigeria

@PANITIA_LANGIT
3 days ago

🕳️

@tarxanofficial1702
3 days ago

industrialization has to be lead by a working class, not the politicans & rich ppl lest history continue to repeat itself.

@EmekaOkafor-o2c
3 days ago

Biafra is the Solution period

@FarhanAbdulhamid-d7e

Okay thanks you al international and community my family all brothers and sisters my family all amid and all international and community my family all African all the government my family all African all and all Humanity my family all brothers and sisters my family all Nigeria the government my family all Nigeria good happen my family all brothers and sisters my family all Burkina Faso the government my family all Burkina Faso good happen my family all brothers and sisters my family all Ghana the government my family all Ghana good happen my family all brothers and sisters my family all Uganda the government my family all Uganda good happen my family all brothers and sisters my family all togo the government my family all togo good happen my family all brothers and sisters my family all Burundi the government my family all Burundi good happen my family all brothers and sisters my family all Mali the government my family all Mali good happen my family all brothers and sisters my family all Tanzania the government my family all Tanzania good happen my family all brothers and sisters my family all Libyan the government family all Libyan good happen my family all brothers and sisters my family all Arab the government my family all Arab good happen my family all brothers and sisters my family all Algeria the government my family all Algeria good happen my family all brothers and sisters my family all Egypt the government my family all Egypt good happen my family all brothers and sisters my family all congo the government family all congo good happen my family all brothers and sisters my family all Russian the government family all Russian good happen my family all brothers and sisters my family all China the government my family all China good happen my family all brothers and sisters my family all India the government my family all India good happen my family all brothers and sisters my family all turkey the government family all turkey good happen my family all brothers and sisters my family all Somalia the government my family all Somalia good happen my family all brothers and sisters my family all amid and all international and community my family all palatine the government my family all west bank and Gaza all the government my family all South Gaza all the government my family all brothers and sisters my family all north Gaza all the government my family all brothers and sisters my family all Rafah the government my family all brothers and sisters my family all amid and all from al Aqsa mijeda and all jeursalem and all west bank and Gaza all Rafah and all borders and all hunger and all food policies and gas and oil and bank and electricity and water and internet and all hospital and school and building and all health and all WHO and all human and all amid and all international law and all human and all UN and all amid and all from al Aqsa mijeda and all jeursalem and all west bank and Gaza all Rafah and all airlines and all company and all also export and import my family all brothers and sisters my family all South African the government my family all South African and all human and all history my family all peace OK thanks

@iMustaphaa
3 days ago

Nigeria is a joke because of our leaders. We have got all takes to be great but these people keep pulling us down. The masses also contribute in a way that they do not care to hold these leaders responsible for putting them in despicable situations. I am not sure whether because the masses are too patient to fight for good governance or suffering from massive illiterateracy.

@siriusman6169
3 days ago

Amaka, yes not everyone has car ! But goods and services need to be deliver using fuel, Diesel has become the barometer of food prices in Nigeria.

@lawaldanladi9129
3 days ago

Tinubu says it is the turn of the Yorubas to rule Nigeria. Igbos says it is time for Southern president. Well Nigerians are now enjoying what Yoruba/southern presidency has to offer!

@actorneno
3 days ago

France go out , stop neocolonialism!

@Funspace001
3 days ago

Kenya heading the same imf and world bank are to blame.

@thugline4real
3 days ago

Too many mismanagement, the president still paying for his election expenses with Nigeria tax, you wouldn't see any improvement

@ThembaMAS
3 days ago

Radial Islam the one causing slow economic growth in Nigeria..

@buddudevelopers7526

Minimum wage in africa you cant even look at cars 🙂

@greedyyawgoo5635
3 days ago

ISRAEL DID IT, 😤😤😤

@yinyin9250
3 days ago

CNG is cheaper than fuel,diesel,octane?

@gfix_ng
3 days ago

Thank you Hamzat you are the only one telling the truth about Nigeria's current situation.

@olaleykhan
3 days ago

16:33 . Thank you for that statement hamza. some people are living in a bubble. That is certainly directed at Amaka living is the US and comparing the realities of her rich Nigerian friends and the theories in economic textbooks written by foreigners to the reality on ground in Nigeria. The problem is simple. The President, while he might appear to have the interest of the people at heart is simply INCOMPETENT at being a president. tell me why anyone would remove the subsidy on the first day in office without having provided initiatives to cushion the effect of the economy. That's like getting a single expo to an exam question without even knowing what question the expo solves and writing it anyway. He had no idea what the effects of removing subsidy would be and hence couldn't have prepared for it. probably same goes for his advisers.

@Rearwing
3 days ago

You keep mentioning subsidy at $10b but also factor in the scam subsidy claims..We all know subsidy is not up to $10b even less than that but the corruption in it push it up..As we stand now, NNPC does not know how many litres of fuel Nigeria use a day..During COVID, NNPC claim 60-70mil litres per day when there was not movement while another Nigeria agency put it at 30m litres per day..More than half of that $10b could ba fake claims. Subsidy is not a crime just like we have it in Europe and US for agriculture subsidies..Let's not condemn subsidy payment but the fake claims that put it at $10b claims..

@shd94
3 days ago

No wonder why Nigerian is a failed state

@sonofnok2153
3 days ago

Nigeria is a failed state, now run by Drug Syndicate from the Yoruba region, and the Fulani Terrorists Orligachy from the North.
Nigeria is not a real country. Nigeria is a facade of a country, a make-believe country.
Nigeria is still a British colony by proxy…

@netizencapet
3 days ago

As noted many times before, Al Jazeera English's expert guest lineups are some of the most thoughtful in the industry. Carefully balanced pertinence.

@bertranbelzor9037
3 days ago

Countries like Malaysia, Indonesia, Vietnam, Thailand managed to become industrialized, why can't Nigeria reach an average level of industrialization to provide a decent living standard to its citizens ? Why ?

@bertranbelzor9037
3 days ago

That's the way it should be. If you're talking about Africa, we want to hear African Experts giving us Our Perspective and not your pseudo Western Experts to come with their arrogant view. When it comes to Africa, Western views are useless to us.

@fajembimojanet1618
3 days ago

Thanks that guy from Maiduguri he is the only one speaking the reality of Nigerians.

@trevlynbonaparte
3 days ago

Government should invest in industries and infrastructure in less developed states which would encourage people to move there. Also encourage solar the use of solar energy.

@fajembimojanet1618
3 days ago

Anaka is all wrong you can't explain Nigeria if you don't live in Nigeria

@trevlynbonaparte
3 days ago

If they believe removing subsidies is the solution…. Gas prices go up so will transportation prices that will affect the entire society. Imagine they are the poor do not have cars.

@trevlynbonaparte
3 days ago

Removing subsidies will make things harder.

@trevlynbonaparte
3 days ago

Large population, very little taxes are collected, high import bill…….trouble.
Nigerians need to begin to produce more goods for local consumption and import less.

@trevlynbonaparte
3 days ago

Large population, very little taxes are collected, high import bill…….trouble.
Nigerians need to begin to produce more goods for local consumption and import less.

@trevlynbonaparte
3 days ago

Seriously these people on the panel are not economist and have zero clue what are are speaking about.