The widely circulated video bemoaning the massive devaluation of the Nigerian Naira and our interpretation of what it portends for the future of our country, is a clear illustration of how our preconceived and implicit biases can dramatically influence our perception of the same reality.
Yes, the author of the video, which sounded like an AI generated audio, was absolutely on target in his diagnosis of the pathology of incompetent, inept and corrupt leadership that has led to the decimation of our currency valuation.
In fact, there is no daylight between you and me in our analysis of the current Hobbesian state of existence that our people are being forced to live through. No sane person can deny the reality of the current parlous existence of our people. It is all too glaring for everyone to see. Where there is a huge gulf between
us is our future orientation. You, on one hand, see no hope of a bright future for Nigeria. I, on the other hand, see a nation that emerges out of this current mess into a future full of a promise of economic renaissance and rebirth.
Even in the midst of the darkest cloud hovering Nigeria, I see shadows and glimmers of bright spots. I see incredible creative energy in the culture economy (Nigerian music and Nollywood) _killing_ it globally. I see a booming tech-economy and an emerging and thriving fintech. I see an economy that is rapidly becoming a cashless economy. From the local bukateria to the hawkers on the street, you can now almost transact business without cash. I also see an explosion of a construction economy. In my neighborhood here in Ibadan and across all the major cities in the country, there is an incredible redevelopment boom, old buildings being demolished, and in their place glistering massive edifice. It is also a reality that the Igbos are buying up the whole place from Lagos; to Ibadan, to Akure, and to my hometown Ilesha. Whether that is good or bad depends on one’s perspective. That is not the subject of this post. You can see some of the most amazing architectural masterpieces going up all over the place and a property valuation going through the roof. By the way, not all the construction are by politicians or corrupt civil servants. You will be surprised that the mechanic who fixes your car or the carpenter who calls your dad is a landlord. Rather than paying exorbitant rents, a lot of people, some misguided people, might look down on as low class, have actually managed to put up their shelter. It might not be Hollywood style edifice, but our resilient no-quitting people are beating the odds of home ownership.
Of course, on the flip side, one cannot overlook the mind-numbing and sociologically dangerous gulf emerging between the haves and the have-nots. There is unnecessary suffering and inhumane poverty ravaging the land due to the insane greed of a kleptocratic ruling class and civil servants. That is the danger that lies ahead for our country. The Nigerian rich class may be unwittingly piling up the dynamite that might be used to blow up their wealth. We must address the wealth inequality and the emerging segregation of Nigeria into a de factor caste system based on wealth.
So back to my point, while many of us, especially those of us in the diaspora, are focussed on the problems, I see dynamic people both Nigerian and especially non-Nigerians, who are capitalizing on the tremendous opportunities presented by a growing and consuming population of over 220 million people.
I see a Nigerian population, though bended by the whiplash of an economic tsunami, yet a people not broken. A resilient people who are eternal optimists, fun-loving, and future prospect-oriented. When you tell a Nigerian he is marooned in an impenetrable jungle, he takes out a matchete and starts cutting a path. That is the Nigerian spirit that will get us out of the current economic quagmire if we don’t give to the debilitating noise of despondency and hopelessness. That is what gives me hope and not some blind sense of patriotism or unhinged optimism. It is our can-do spirit, which has made the Nigerian immigrant population in the U.S. and all over the world, one of the most dynamic and successful immigrant groups in the entire world.
Yet, and sadly, when it comes to our country, the same diaspora Nigerians who have become pace-setters all over the world seem to be paralyzed by a pathology of pessimism and negativity. That is what’s so puzzling about the Nigerian diaspora.
Let me reiterate that I am as convinced that, as it is predictable that the sun will emerge in its amber glory from the east tomorrow morning, bursting through the dark night, Nigeria too will emerge out of this darkest of nights into a glorious morn. This is not wishful thinking but evidence based prognostication. The reason, I have been sounding the alarm bell is to alert my people in the Diaspora not to be caught up in the web of pessimism and negativity and in the process lose out of the innovator’s dividend. Yes, the Nigeria economy is high risk, but it is also a high reward. The Nigerian stock market, for instance, emerged as one of the best performers globally last year. That is news you will not see posted on social media. All you will see are the stories of kidnapping, banditry, and mayhem all over the country. Those too are the reality of many Nigeria, but that is not the whole truth. That is the nature of the unregulated wild Wild West world of the new social media.
Let me restate it now that it would be a catastrophic missed opportunity for those of us in the diaspora not to engage with the Nigerian economy now. Delay will be massively costly for those waiting until Nigeria becomes a mythical Eldorado. I am not talking theory. I am on the ground and seeing what our people back home are doing. Yes, there is tremendous suffering and poverty in the land, but that is not the entire story. Bad news sells on social media.
Don’t miss the boat. Yes, the U.S. will always be home for many of us. Many of us including yours truly have spent more of our existence in the US, than in our Nigeria homeland, but it would be a catastrophic oversight not to have at the minimum an escape retirement lifejacket tucked away somewhere in Nigeria.
Back to the video and how the prism each of us is using to watch it affects our perception. Yes, the video painted a jarring tale of a currency in a freefall, but it ended on a positive note. The author ended by saying that the power to change Nigeria’s future lies with all of us. That is the mindset of an optimist. So, while you watched that same video and saw no hope for our dearly beloved country, I watched the same video and saw a bright future on the horizon.
It is prudent here to state that without an optimistic mindset, a forward looking, innovative, patriotic and visionary leadership, and an unwavering effort to mobilize the citizenry to the task of nation-building, the bright future we all hope for is unlikely to emerge. So, the first dragon we must all slay is the dragon of pessimism and negativity. Pessimists never build anything great. Only optimists do.
Our country, Nigeria, is poised for greatness. No one but our pessimism and negativity can stop us.
