society
Crushed by Corruption: Nigeria’s Journey from Wealth to Worthlessness.” (A Nation that eats its own currency/future)
Crushed by Corruption: Nigeria’s Journey from Wealth to Worthlessness.” (A Nation that eats its own currency/future)
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com
Not too long ago, the Nigerian Naira was stronger than the American Dollar and British Pound. In 1973, one Naira was equivalent to $1.52, and by 1980, Nigeria was not just Africa’s largest oil producer but one of the world’s most promising developing economies. Fast-forward to 2025, one Dollar is now nearly ₦1,700, while the Pound hovers around ₦2,200; this is not just a currency collapse, it’s NATIONAL Disgrace. The question on everyone’s lips is: How did we fall so TRAGICALLY and so IRREPARABLY? The answer lies in decades of economic mismanagement, political irresponsibility, unbridled corruption and systemic illiteracy masquerading as leadership. Nigeria’s fall did not happen overnight; it was a slow-motion car crash and we were all passengers in a bus driven by blindfolded leaders who ignored every warning sign on the ROAD to RUIN.
The Beginning of the Fall: 1980’s Structural Adjustment Betrayal. Nigeria’s economic nosedive began with the Structural Adjustment Programme (SAP) introduced by General Ibrahim Babangida in 1986 under the advice of the International Monetary Fund (IMF) and the World Bank. SAP was packaged as a reform to diversify the economy and reduce Nigeria’s reliance on oil. Instead, it devalued the Naira, dismantled local industries and opened the floodgates for imported goods, killing our textile, automobile and manufacturing sectors. Economist Dr. Reuben Ifeanyi noted in a 2023 interview: “SAP was the poison that killed Nigeria’s economy slowly, but made Nigeria addicted to imports, destroyed its productive base and left the Naira to bleed.” That was the beginning of the economic coup against the Naira. A policy meant to save the economy instead became the scaffold for its execution.
The Curse of Oil and the Culture of Looting. While oil should have been our blessing, it became our biggest curse; rather than use oil revenue to invest in infrastructure, education and industry like Norway or the UAE, Nigerian leaders looted the wealth. Between 1999 and 2023, Nigeria reportedly earned over $1.2 trillion from crude oil exports, yet over 133 million Nigerians live in multidimensional poverty. Where did the money go? Into private pockets. STOLEN. Hidden in offshore accounts. Lavishly spent on frivolities and elections. Now, we have a debt profile of over ₦97 trillion, with debt servicing consuming more than 90% of federal revenue in some years. A Nigerian development economist Kingsley Moghalu said: “The problem is not that Nigeria lacks resources; the problem is that Nigeria lacks resourceful leadership.”
The Politicization of the Economy. Every four years, elections are turned into a bazaar, politicians exchange RICE, SALT, plus LIES for votes. Power is rarely attained through merit but through ETHNIC-ALLIANCES and GODFATHERISM. No one asks about economic plans; no one debates foreign policy. All that matters is “NA OUR TURN.” This political recklessness has resulted in nearly 70% of the federal budget being recurrent expenditure (salaries, overheads and allowances) while capital expenditure continues to shrink. We wonder why our roads are death traps and our schools look like poultry farms. Political commentator Aisha Yesufu put it plainly: “You cannot keep electing criminals and expect saints to govern you. Nigeria’s problem is the normalization of nonsense.”
The Currency of Shame: Why the Naira Crashed?Beyond SAP and bad leadership, the collapse of the Naira stems from a deadly combination:
DOLLARIZATION of the ECONOMY. Everyone wants to save in dollars, trade in dollars, rent houses in dollars; the Naira has been demoted even within its own borders.
OVER-RELIANCE on IMPORTS. From toothpicks to fuel, Nigeria imports everything. Our import bill exceeds $70 billion annually, while exports (outside oil) are negligible.
CORRUPTION in FOREX-ALLOCATION. Under Buhari and Tinubu, powerful cronies accessed dollars at official rates and resold at black market prices; a criminal enterprise masquerading as policy.
NO PRODUCTION-BASE. You cannot defend a currency you don’t produce anything with; the Central Bank has become a prayer camp, hoping divine intervention will fix a secular mess.
According to Bloomberg’s African Economic Review 2024, “Nigeria has the weakest performing currency in Africa, despite being one of the continent’s largest economies. The cause is not global economic trends but domestic dysfunction.”
Africa No Longer Sees Us As The Giant. The phrase “Giant of Africa” used to command respect. Today, it elicits sarcasm and laughter; even smaller countries like Rwanda and Botswana outperform Nigeria in governance, healthcare, education and per capita income. South Africa used to look up to Nigeria politically; now, they deport our citizens like flies and Ghana, once a recipient of Nigerian aid, now closes its borders to our goods. To make it worse, we are now the world capital of youth migration, with over 2 million Nigerians fleeing through “JAPA” routes in just the last 5 years. As Chimamanda Ngozi Adichie stated in a recent lecture: “A country that treats its young people as disposable should not expect loyalty, it should expect flight.” Nigeria is no longer the pride of Africa, but a cautionary tale. We are mocked for our electricity failures, laughed at for our elections and pitied for our economic tragedy.
The Tinubu Administration: From Hope to Horror. The 2023 elections offered a flicker of hope; that light has dimmed into darkness. President Bola Ahmed Tinubu, with his so-called “RENEWED HOPE AGENDA,” has worsened the pain. Removing fuel subsidies without building refineries, floating the naira without stabilizing reserves and appointing political loyalists into economic roles has backfired. Today, Nigeria faces:
A. 50% FOOD-INFLATION.
B. Over 45% YOUTH-UNEMPLOYMENT.
C. INSECURITY from ALL-DIRECTIONS.
D. Highest OUT-OF-SCHOOL CHILDREN in the WORLD. (over 20 million)
We are a nation ADRIFT. A failed giant on LIFE-SUPPORT. The world has stopped waiting for us to catch up.
Final Thoughts: Where Do We Go From Here?
We cannot fix Nigeria without confronting the truth: Our failure is man-made. Our leaders are the architects of our downfall and until we prioritize COMPETENCE over CONNECTION, VISION over TRIBE and IDEAS over MONEY, we will keep digging our own grave. ILLITERACY, both INTELLECTUAL and MORAL, must be fought with everything we have. We need an economic war cabinet not RECYCLED ministers. We need to invest in agro-processing, ICT and manufacturing. We must cut the cost of governance, fix our education system and restore trust in public institutions. David Hundeyin, investigative journalist and public policy analyst said: “Nigeria is a failed state not because it lacks potential, but because it is actively structured to prevent progress.” Unless we change that leadership culture (not just who is in power, but how they govern) the Naira will fall further, Africa will move on without us and the “GIANT of AFRICA” will be nothing more than a dusty relic in old history books.
Written by George Omagbemi Sylvester
Published by SaharaWeeklyNG.com
society
Trump Raises Alarm Over Iran’s Expanding Missile Arsenal Amid Escalating Middle East Tensions
Trump Raises Alarm Over Iran’s Expanding Missile Arsenal Amid Escalating Middle East Tensions
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“U.S. president claims Tehran had more missiles than expected and was weeks away from launching attacks, sparking renewed global security concerns.”
United States President Donald Trump has intensified global debate over the growing crisis in the Middle East after claiming that Iran possesses significantly more missiles than American intelligence initially estimated and was allegedly preparing an imminent attack against U.S. interests. Trump made the assertion while commenting on the escalating tensions between Washington and Tehran, warning that Iranian military capabilities were far greater than previously understood.
Trump argued that new intelligence assessments revealed that Iran had rapidly expanded its ballistic missile stockpile and had developed the capacity to strike American forces and regional allies with little warning. According to him, Iranian military planners were “within a week” of launching coordinated attacks before preventive military measures were taken. The remarks have reignited international discussions about the scale of Iran’s missile program and the broader security implications for the Middle East.
The claims emerged amid renewed tensions between the United States and Iran following military operations targeting Iranian facilities believed to be linked to weapons development and regional military coordination. Washington has maintained that such actions were necessary to prevent a potential escalation and to protect American personnel stationed across the region.
Security analysts, however, caution that the situation reflects a deeper geopolitical rivalry rather than a single imminent threat. Dr. Anthony H. Cordesman, a renowned military analyst at the Center for Strategic and International Studies, noted that Iran’s missile development has been expanding steadily for years as part of its broader deterrence strategy. According to Cordesman, “Iran relies heavily on missile capabilities because it cannot match the conventional military power of the United States or its regional partners. These weapons are central to its defensive posture and influence across the region.”
Similarly, Professor Vali Nasr, a Middle East expert at Johns Hopkins University, argued that the missile issue must be viewed within the wider strategic competition between Iran and Western powers. Nasr explained that “Iran’s missile program has long been a tool of strategic leverage. While it certainly raises legitimate security concerns, the rhetoric surrounding it often reflects political positioning as much as intelligence assessments.”
Iran has consistently maintained that its missile program is purely defensive and aimed at safeguarding its sovereignty against foreign intervention. Officials in Tehran have repeatedly denied planning any direct attacks on the United States, insisting that their military capabilities are intended to deter aggression rather than provoke conflict.
Despite these denials, regional tensions remain high. Analysts warn that heightened rhetoric from political leaders, combined with military deployments and intelligence claims, could fuel misunderstandings that might spiral into a broader confrontation.
Energy markets and global security observers are also closely monitoring the situation because instability in the Middle East (one of the world’s most critical energy corridors) can have far-reaching economic consequences. Economist Paul Krugman emphasized that geopolitical shocks in the region often reverberate through global markets. “Any serious escalation involving Iran can disrupt oil supply expectations, unsettle financial markets and affect economic stability far beyond the region,” he said.
Diplomatic experts say sustained dialogue remains the most viable path to preventing further escalation. Former U.S. diplomat Ryan Crocker stressed that “military pressure alone rarely resolves deeply rooted geopolitical disputes. Long-term stability requires negotiations, trust-building measures and regional cooperation.”
As the standoff continues, governments, security institutions and international observers remain alert to developments that could reshape the geopolitical landscape of the Middle East. Trump’s comments have added another layer of tension to an already volatile environment, reinforcing fears that the region could face renewed instability if diplomatic efforts fail to gain traction.
While policymakers debate the scale of the threat posed by Iran’s missile arsenal, experts agree that the stakes remain extremely high; not only for the United States and Iran but also for the broader international community seeking to prevent another major conflict in the Middle East.
Empowered Women, Stronger Nation: Building Futures Through Property Ownership
As the world commemorates International Women’s Day, attention rightly turns to the extraordinary role women play in shaping families, communities, and national economies. Beyond nurturing homes and leading in boardrooms, women are increasingly emerging as powerful drivers of nation-building through one of the most transformative assets of all, property ownership.
Across Nigeria, women are steadily breaking long-standing barriers in business, governance, technology, education, and entrepreneurship. Their expanding economic influence is uplifting households, strengthening institutions, and reinforcing the nation’s financial foundation. The evidence is clear: when women earn, communities prosper; when women invest, societies advance.
One of the most visible expressions of this progress is in real estate acquisition. Property ownership empowers women with security, stability, and the ability to build generational wealth. A home is more than a structure of concrete and steel, it is a platform for legacy, enterprise, social mobility, and long-term influence.
From young professionals purchasing their first plots of land to seasoned executives expanding diversified investment portfolios, Nigerian women are redefining wealth creation and strategic future planning. Their growing presence in the property market signals a cultural and economic shift toward asset-backed empowerment.
Real estate remains one of the safest and most rewarding investment paths, and women are embracing the opportunity with confidence. Their participation is reshaping urban development patterns, influencing housing demand, and stimulating construction, infrastructure growth, and employment value chains nationwide.
At Adron Homes and Properties, empowering women through property ownership is seen as a direct investment in national progress. Every woman who secures land or a home strengthens family stability, fuels economic growth, and inspires future generations to dream bigger and aim higher.
This International Women’s Day, women are celebrated not only for who they are, but for what they build:
* Builders of families
* Drivers of economic growth
* Investors in the future
* Architects of generational wealth
To honor their impact, Adron Homes is expanding access to ownership through flexible payment plans, inclusive investment opportunities, and customer-friendly support services designed to make property acquisition simple, transparent, and rewarding.
Because when women rise, nations thrive. And when women own property, the future is secured.
society
PALESH KENYA 2026 Ends in Grand Style as UNIPGC African Continental Chapter Honors Prof. Patrick Lumumba (PLO) as PATRON
*PALESH KENYA 2026 Ends in Grand Style as UNIPGC African Continental Chapter Honors Prof. Patrick Lumumba (PLO) as PATRON*
The 15th Edition of the *UNIPGC PAN AFRICAN LEADERSHIP SYMPOSIUM and HONORS (PALESH) Kenya 2026* concluded in grand style as the African Continental Chapter of the *United Nations International Peace and Governance Council (UNIPGC Africa)* honored renowned Pan-Africanist, *Prof. Patrick Lumumba (PLO)* as its *PATRON* alongside other distinguished personalities.
This honor bestowed on Prof. Lumumba is in recognition of his outstanding contributions to leadership, governance advocacy, and Pan-African development.
This prestigious event which took place on *Friday, March 6, 2026*, at the *KCB Leadership Institute, Karen, Nairobi, Republic of Kenya*, attracted prominent leaders, diplomats, and professionals from across Africa.
It may be recalled that in the previous year, *Liberia’s immediate past Vice President, H.E. Jewel Howard Taylor*, was honored as MATRON UNIPGC AFRICA by the organization. H.E. Jewel Taylor served as *Vice President of Liberia from 2018 to 2024 under President George Weah and was also First Lady of Liberia from 1997 to 2003*during the presidency of her former Husband , Charles Taylor.
The *15th Edition of PALESH Kenya 2026* commenced with the *Morning Session*, which featured guest accreditation and red carpet interviews with distinguished dignitaries and participants who attended the event.
The symposium marked a significant moment in the advancement of diplomacy and leadership discourse in Africa, bringing together notable leaders from different parts of the continent.
The *Leadership Symposium* featured prominent African leaders who delivered keynote addresses centered on the theme:
*Governance for Sustainable Development: Challenges and Prospects in Africa.*
Among the distinguished keynote speakers were:
* *His Excellency Mike Mbuvi Sonko*, Former Governor of Nairobi City, Republic of Kenya.
* *His Excellency Prof. Dhadho Godhana*, Executive Governor of Tana River County, Republic of Kenya, and Chairman of the UNIPGC Advisory Council on Democracy and Governance.
* *H.E. Bishop Dr. Sinzohagera Emmanuel*, Former Senate President of the Republic of Burundi.
The event also featured the Inauguration Ceremony of Hon. Dr. Joshua Kaputa, whose oath-taking and investiture were conducted by the *UNIPGC Global President , His Excellency Amb. Dr. Jonathan Ojadah, GCOP*
The second Panel discussions and sessions were moderated by *Isabel Brenda* Founder and President of *Governance Hub Africa, Kenya*
Key speakers and topics presented during the symposium included:
* *Bishop Amb. Dr. John C. W*— *“Youth Activism and Political Participation: Shaping Africa’s Democratic Future.”*
* *Dr. Olubusola Oluwaferanmi* Founder/CEO, **FerFis Holistic Wellness (Nigeria/USA)** — *“Strengthening Democratic Governance Through Preventative Health Systems.”*
* *Mrs. Godelieve Manirakiza* (Republic of Burundi) — *“The Role of Civil Society in Sustainable Peace Building.”*
* *Maj. (Rtd) Odha* — *“Emerging Military Threats in Africa: Causes and Consequences.”*
The event also witnessed the *inauguration of several UNIPGC executives*, including:
1. *Amb. Dr. Rosaline Adedoyin Amangbo Adedoyin*– Continental Vice President, UNIPGC Africa
2. *Chief Amb. (Dr.) Gbenro Oladipupo*– Secretary General, UNIPGC Africa
3. *Amb. Dr. John C. W*– Member Advisory Committee on Leadership & Governance
4. *Amb. Dr. Joshua Kitaro Kaputa* – Country Director, UNIPGC Kenya
5. *Amb. Apostle Jane Wanja Kamau* – Country Director, UNIPGC Burundi
6. *Dr. Essien Essien Abel* – Advisory Member, UNIPGC Global Economic Council (GEC)
7. *Dr. Obie Otti Valerie Bassey* – Regional Director, UNIPGC West Africa
8. *Mr. Chukwuemeka Iheanacho Okereke* – UNIPGC Member, Special Envoy (Imo State Coordinator)
9. *Group Capt. Kalgo Sani* – Member, Advisory Council on Security & Sustainable Peace Building
Certificates of recognition were presented by **Dr. Carlos Sousa*, Member of the *UNIPGC Supreme Council* and Secretary General, UNIPGC CANADA .
The event concluded with an elegant Evening Session , highlighted by a glamorous *All-White Peace Ambassadors Gala Dinner and Award Reception*, celebrating diplomacy, leadership, and African excellence.
UNIPGC is a diplomatic civil society organization dedicated to promoting *sustainable peace, good governance advocacy, and poverty eradication* across the globe. The organization advances its mission through education, seminars, conferences, conflict resolution initiatives, mediation, publications, lectures, and the deployment of peace emissaries where necessary.
UNIPGC has also established educational capacity-building institutions such as the Chartered Institute of Peace and Governance (CIPG) and the American University of Peace and Governance (AUPG), which serve as platforms for training diplomats, leaders, and peace ambassadors worldwide.
Through its educational programs, UNIPGC seeks to develop the capacity of global leaders, with a focus on promoting the principles that foster good governance and peaceful coexistence among societies.
The organization further aims to collaborate with governments, United Nations agencies, and diplomatic missions worldwide to support the mandates of the United Nations Sustainable Development Goals (SDGs).
According to the organization:
*”We are working closely with UN organs in various countries to strengthen the relationship between the United Nations and the people of member states, while also creating public awareness about the activities and initiatives of the UN.”*
-
society6 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news3 months agoWHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests
-
Business6 months agoGTCO increases GTBank’s Paid-Up Capital to ₦504 Billion
-
society6 months ago“You Are Never Without Help” – Pastor Gebhardt Berndt Inspires Hope Through Empower Church (Video)