NIGERIA AT 62: DEPENDENCE OR INDEPENDENCE

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Name: Adedeji Gbemisola Boluwatife Department: Economics Level: 100l NIGERIA AT 62: DEPENDENCE OR INDEPENDENCE Nigeria, my country is a land filled with milk and honey. Nigeria happen to be the most populous nation in the whole of Africa and that make us earn the title as the Giant of Africa;the Big Brother of Africa. Nigeria as a country do celebrate it's year of being free from the British colonialism and it always celebrated on the 1st, October of every year. If you ask me, I see no reason why we celebrate years of independence in this country when we are still caged in the shackles of colonialism. Nigeria is not better off even when we were free from our colonizers. Reason why I refer Nigeria as an independent nation are stated below: First and foremost, an indication that Nigeria is a dependent nation is shown in the sense of high dependance on foreign/external aid. Foreign aid can be in form of monetary assistance, military and emergency humanitarian). We survive almost solely on borrowing from financial institutions and from sourcing for fund from other countries of the world and we then service those debts till God know when we pay them back. Another one us the issue of complete dependence on petroleum sector. The mainstay of Nigeria till today is the Petroleum industry while developed countries of the world are diversified nations who derive revenue from various sector of the economy. Most developed countries are on a search for means by which machines runners by petroleum can be runned by electricity, by then petroleum products will become useless. By the time petroleum products become useless, this nation will be runned in debts then. In addition to the forementioned point is the issue of rapid unemployment and economic recession. Gone are those days in Nigeria, when as you graduate, jobs are not far fetched. Nowadays, labour market is no more favourable to graduate who graduated with good result not to talk about those with "let my people go" kind of grades. Economic recession on the other hand is caused as a result of a decline in economic activity (GDP); the production in a country has reduced by a certain percentage and this inturn make people lose their jobs and companies make less sales. In conclusion, when you take a scrutiny look at this above mentioned points you will be able to reason in my own direction that Nigeria as a country is a dependent nation, that is still battling with the issue of corruption, terrorism, e.t.c

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