Corruption, Wealth Creation and the Nigerian Elite

J J Omojuwa writing in African Liberty:
Nigeria’s elite must do better. We need to prioritise giving, give intentionally and strategically for the purpose of expanding opportunities and creating wealth. There are two main types of giving in a certain sense. There are those that give in such a way that the receiver continues to depend on them and then there are those that give for the sole purpose of empowering the giver. We need to do more of the latter. Even with a governance system that works – ours still doesn’t – we’d still need to do a lot more than depend on government to fix our poverty challenge. It is a massive problem. One of the reasons certain countries continue to be prosperous over centuries is not only because of their system of governance but because private citizens committed to using their wealth for the purpose of development; endowing universities for the education of a certain group of people, empowering businesses via soft loans or equity contribution, covering several other gaps left by the government. No system has ever thrived solely because its system of government worked. Ultimately, we need change to happen from top to bottom and bottom to top for it to be wholesome and enduring. Ours is a double whammy challenge because whether top to bottom or bottom to top, we haven’t even started at all.
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