The issue of whether Nigeria is a third-world country or a developing country is something we’re going to look at in our discussion today.
In this article, we will focus on whether Nigeria belongs to the developing world or not.
If we discover that this is true, we will also examine some of the reasons why this is the case.
Despite the fact Nigeria has so many resources that ought to have made the country one of the most developed countries in the world; the reverse has turned to be the case.
In case you haven’t heard, Nigeria ranks among low-income countries not only in Africa but around the world.
The reason is that the country couldn’t use its resources.
Is Nigeria Still A Third-World Country?
Even if the name “third world countries” can be offensive to develop nations, the answer is yes, Nigeria is a third world country.
That’s because the country is characterized by a large number of people, but it has a very low-income rate and some socio-economic indicators. Now they have modernized the name into “developing countries”.
You may also call it a dependent country if you so desire.
Before qualifying Nigeria as a developing country, several factors were considered. These factors include GDP (gross development products), low employment and high unemployment, and per capita GDP.
This is not all; they also note the country in terms of manpower and output rates.
In this respect, Nigeria has been found to have low production rates, very poor infrastructure, low levels of education, low cost of living, and limited access to quality health facilities.
If that is true for Nigeria, then it deserves to be referred to as a third-world country.
What Makes Nigeria a Developing Nation?
As you know that this is true, Nigeria is a Third World country, it will be important if you know the reasons that make it underdeveloped.
Among these factors include corruption, high level of illiteracy, high dependence on natural gas, high rate of unemployment, overpopulation, tribalism, nepotism, insecurity, human capital flight, political apathy, and then forth.
It’s number one on the list because it’s among the top, if not the largest reason for Nigeria’s decline. Nigerians have a great ability to elect high-level corrupt officials.
If it’s not the case of bribery, it will be money laundering.
That’s why some economists say that “it’s the biggest barrier” that’s holding the country back.
If say corruption ended up in the hands of executives, it will have been a little better, but it is now among the corporations. The only way out of this situation is for everybody to stand their ground and fight corruption.
Make sure it starts with you, though.
High Level of Illiteracy
Are you aware that many Nigerians do not know how to develop this great nation?
For this reason, we call it illiteracy. Once again, instead of the government focusing on education, it is avoiding the education sector.
Because of this, so many government-owned schools lack adequate learning facilities.
If the government can invest properly in Nigeria’s education sector, the education rate will improve considerably.
Students will learn how to improve the country’s growth and development and these literacy issues will be a thing of the past.
High Unemployment Rate
There is no question that Nigeria has a lot of skilled graduates who roam the streets unemployed. If you don’t know, it’s one of the major contributors to poverty.
The reason Nigeria has so many unemployed young graduates is that the country relies solely on crude oil and has not created employment opportunities in other sectors.
If we say that many oil industries can accommodate some of these graduates, it will be better, but that is not the case. The ones who are fortunate to get employed are the ones with godfathers and mothers.
If we consider the population of the country, which is over 200 million, and the current level of mismanagement of public funds, we see that the poverty rate has increased in the country.
How, then, can we expect such a nation to grow? Now, with fewer resources available on the ground, this will not be sufficient to relieve the level of poverty among the masses.
If the mass can use their people and vote for good leadership, the poverty rate will be enormously managed. But that is not the case, and that is why we are blaming the Nigerian population.
Some might think that’s not a serious reason why the country hasn’t developed so far. But we’re here to say that this is a serious problem in the field. Only Nigeria is home to over 500 ethnic groups.
Unity has become a rarity among them, including the country’s three main ethnicities. Neither of these ethnic groups wants to develop another ethnic background.
For example, in politics, instead of putting heads together and electing a qualified candidate, all ethnic groups will want their own to be there. We haven’t even talked about employment or any of those things.
In case you don’t know, from 2009 until now, Nigeria has pumped billions of Naira in the name of counter-insurgency in the country.
Today, the insurrection is not over, and yet the government is wasting the country’s fortune in an unsuccessful war. The insurrection has increased rather than decreased.
So if to say the funds that have been channeled to handle the case of insurgency from 2009 to this very moment is applied to develop the country, you can imagine where Nigeria will be today.
The insurrection issue has done more harm than good to the country’s development.
Many factors led to Nigeria not being part of the developing country group.
Even if we throw the whole day to ourselves, we cannot voice them all, but from the little we have provided, you can see why Nigeria is still a developing country.
If we put all our hands on deck, we can push the country to a greater height.