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Wealth Creation

posted on Wednesday, February 06, 2008 02:35 PM

President Yaradua’s third point agenda is not realistic to me, in my views, health is much more important than wealth creation, suffice it to say that proper health care delivery system should have taken the place of the third agenda. Of what use is wealth to a dieing body, especially in this phase of prevalent HIV/AIDS, malaria, cholera and tuberculosis? The truth of the matter is that, historically speaking governments of nations and even Nigeria are usually not concerned or successful in creating wealth for her citizens, rather, they embark on or provide infrastructural facilities and favourable policies that would make private ownership of businesses to thrive well, thereby creating wealth for her citizens.

For example, in the late 70s, 80s and 90s, Nigeria undertook massive investments of over $100 billion with an aim of creating wealth for her citizens, at the end of 1999, return on investments was a paltry $0.25 dollar. So for me, President Yaradua should rather concentrate his energies in revamping our dilapidated infrastructural facilities such as roads, schools, power and energy sectors as well as make policies that would be favourable to majority of Nigerians in other to engage in business ventures that would create wealth.

The Small and Medium scale enterprises and the Micro finance banks are already a good step in the right direction for Nigerians in wealth creation; reforms of this kind should be made in other to turn around the sufferings of Nigerian. As at December, 2007 Nigeria boasts of over $50 billion in her foreign reserves, what importance is the nations wealth when the masses are not positively affected, in a country were citizens sell their children for as low as one million naira in other to survive poverty.

What Nigerians need is just empowerment, we are very intelligent people who would find their way when shown the path, so all we need is better infrastructural facilities rather talking about wealth creation.

Mbasekei Martin Obono

martobono@yahoo.com

www.yaccfin.org

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