Why it seems the challenges in Nigeria cannot be resolved is that many Nigerians are benefitting from the sleaze individually and collectively. While Nigeria is walloped in high level corruption, poor governance, unemployment, poor health care, and underdevelopment despite been blessed with people and natural resources, many people are praying that the situation should continue because of what they are benefitting from the terrible state.
The Qoheleth conducted a study to exhume the sectors that benefit from the poor economic conditions of the country.
Nigerians in Diaspora
The first set of beneficiaries are those who live in diaspora. These include over 17 million Nigerians who live in the US, UK, Canada, Asia and other parts of the world. Nigerians rely on dollar as a key medium for international commerce. So, the higher the exchange rate, the better for them. Despite the fact that a weaker naira relative to the dollar can continue to increase the cost of imported goods, contributing to inflationary pressures, many Nigerians in diaspora pray for higher rate of dollar.
An average Nigerian in Diaspora earns about $5,000 – $10,000 from different jobs. That should be approximately between N8m to N16m monthly. If half of this is sent home monthly, you know how much they would invest annually. The higher the rate of dollar, the better for their savings and investments
Terrorists and Kidnappers
Insecurity is one of the biggest challenges in Nigeria. This includes terrorism, kidnapping, banditry and militancy. This is caused by youth unemployment, corrupt policies, get rich quick syndrome and poverty. Study revealed that over N2.2 trillion naira was paid as ransom within just one year in Nigeria.
Despite the digital marketing and data registration by telecommunications companies and despite the fact that kidnapping is one of the easiest crimes to burst because it involves a third party, many youths benefitted from the crime and many are into it because of such benefits. It is succeeding because of the high level of compromise by some security agencies and incompetence on the side of the government.
Political Jobbers
The set of people referred to as political jobbers are one of the notable beneficiaries of bad governance and poor economy. These people come on different form ranging from those who install incompetent people in government to those who manage and defend them. These people are usually compensated with contracts which they may not execute. Some are given political appointments from where they steal public money and property. If the election process is reviewed and appropriate people put in place, they will lose their positions. That is why they work assiduously to ensure that their selfish interests are captured in every government despite the devastating effects on the people.
Property Companies
Do you know why property companies are being set up all over the country and they have been doing well? This is because investment in this area is a conduit pipe through which many corrupt politicians hide their stolen money. Many corrupt politicians usually drag their feet in investing in industries, production and manufacturing companies because this can be traced back to them and many of them do not have the competence and patience to run such companies when they leave office. They cannot also deposit such money in the banks to avoid it being traced back to them and be prosecuted. They rather invest such stolen money in property which they can resell later while it appreciates. For property companies, they pray to have investors from these people.
Journalists
Before the advent of poor economy, journalists used to be one of the lowest paid professions. Today, it sells like a hot cake. They have even taken away the public relations profession and many people no longer know the difference. When many corrupt politicians look for competent gurus to polish their image in the media, the journalists become handy. Many journalists and media houses no longer hunt for news; news now hunt them. Many media houses are budgeted in various sectors. Through this, they make a lot of money. Some secure political appointments through their columns and programmes while many are paid to publish what corrupt politicians desire.
Trade Union and Pressure groups
Political governance and trade unions used to be two parallel lines. The pressure groups, and trade unions were on the people’s side, always fighting the policies and actions of government that are not benefitting the people. Today many trade union leaders use partisan politics as a stepping stone to political leadership. In many cases, they benefit financially from mediating between the government and the people. It is gathered that they even exploit their members to enrich themselves while compromising their actions with the government. This may not happen if there is good governance.
Traders
When traders notice that there are no market forces regulating the price of their goods due to high level of corruption, they arbitrarily place exorbitant prices on their goods and consumers are forced to buy at such cut throat prices while they make high profits. Every little issue such as increase in dollar rate, fuel and minimum wage can trigger the increase in the cost of food items, household items, electronics and motor parts. Since the agencies who are expected to control the pricing are either weak or corrupt, the traders benefit from that by exploiting the consumers.
Regional agitators and secessionists
If you ask the promoters of regionalization and secession the reason for such, they would be quick to tell you that they are marginalized from the country and deprived of benefitting from the resources from their land. Looking deeply into this, you’d notice that some of these come from selfish and greedy interests. While many of the agitators do not live in their so-called land, much has been provided for such regions through government agencies at various levels. What they do is just change the mindsets of the people and through that exploit them. Many agitators have made a lot of money from those who believe them and support their cause. On the other hand, many also secure government appointments through which they enrich themselves through agitation for zoning, regionalism and secession. If governance is concentrated on competence and quality leaders, you won’t hear of marginalization.
Travel and Tourism sector
Just like the growth in the property sector, another sector that is benefitting from the sleaze in Nigerian government is the travelling and tourism sector. Such companies keep springing up everywhere because many Nigerians are leaving the country in droves due to the poor economic situation. In the 80s, Nigerians hardly relocate. They go on vacation in the western countries. But today, many Nigerians Japa at the slightest opportunity to search for job opportunities, admission in schools and other social and welfare adventures. These created brisk businesses for travel and tourist companies in Nigeria and their foreign counterparts.
Social Media
Due to unemployment, poverty and other economic challenges, many Nigerian youths resort to the full use of the social media. The social media has been enriched to provide financial aids to youths through digital marketing, development of applications and software. Many use it as a marketing platform for their goods and services. They do not require to get physical shops but can buy and resell online. Those who are into various forms of entertainment such as music, drama and other forms of content creation generate money from such. The social media is not fully regulated and therefore may not need adequate professionalism or education for engagements. Those without meaningful jobs also use the platforms for fraudulent activities, prostitution and blackmail. Good governance would have separated the grain from the chaff.
Civil Service
The civil service used to be the most organized sector in the government. They had a process and procedure for every activity. The temporary political office holders gradually took up their responsibilities from them. Instead of losing out completely, they taught the politicians the short cut to exploiting the process. And in so doing, they benefit exceedingly from the sleaze. They used to hide their wealth perhaps till after retirement. But the corrupt practices by politicians have empowered them as well as enriched them. Some of them even benefit more than the politicians.
Religious Organizations
One of the greatest beneficiaries of the poor economic condition in the country are various religious organizations. These pastors and churches made many Nigerians strongly believe that Nigeria’s salvation only rests in the hands of God. Many preach that wealth, health, employment, and other poor economic conditions can only be resolved by the people’s commitment to God and the church. As a result of these, many invest in the sector through payment of tithes and other financial contributions thereby enriching such leaders. Many also go to churches to find solace from the social challenges and in the process are exploited. If the economy of the country improves, many people may not have to go to such places for solutions but would go to the appropriate places.
Non-Governments and Civil Society Organizations
Many non-governments are also growing in leaps and bounds riding on the back of solving economic and welfare challenges. It used to be a voluntary job. But now, It is a full-time job engaged by professionals where profits are made. This group receives funds from abroad which in most cases were not fully applied to such courses but to their personal needs. That is why there are so many Non-Government Organizations with little solutions to the problems they were set to check. Some Civil Society Organizations are set up to advocate for better governance and eradicate other leadership and welfare challenges. In the process, they exploit both the funders, promoters and the people and extensively benefit from it while the people they were set to serve still suffer.
If there is employment, reduction in poverty, healthcare, security and good governance, there may not be need for these NGOs. But currently, they are benefitting from the poor economic conditions in the country.
