Financial Times says, Nigeria close to becoming failed state.

1 min read
23 Dec

THE Financial Times of London has described Nigeria as a country going backwards economically and plagued with terrorism, illiteracy, poverty, banditry and kidnapping and risks becoming a failed state if things don’t take a drastic turn.The UK-based newspaper said this in an editorial on Tuesday titled, ‘Nigeria at risk of becoming a failed state.’It said the abduction and subsequent rescue of over 300 schoolboys in Kankara, Katsina State, revived memories of the 276 Chibok schoolgirls abducted in Borno State in 2014.According to the newspaper, while the government’s claim that no ransom was paid to the abductors of the schoolboys remains doubtful, other acts of criminality could not be overlooked.The editorial read in part, “The definition of a failed state is one where the government is no longer in control. By this yardstick, Africa’s most populous country is teetering on the brink.”The newspaper also questioned the claim by the President, Major General Muhammadu Buhari (retd.), that Boko Haram had been technically defeated. 

It said contrary to the government’s claim, Boko Haram remained an ever-present threat.The newspaper said security was not the only area where “the state is failing”, adding that Nigeria had more poor people than any other country.According to the newspaper, Nigeria has the highest number of out-of-school children on earth.It stated that as oil continues to lose its value, Nigeria’s economy would worsen. 

“The population, already above 200 million, is growing at a breakneck 3.2 per cent a year. The economy has stalled since 2015 and real living standards are declining. This year, the economy will shrink 4 per cent after COVID-19 dealt a further blow to oil prices.

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