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| Linda Thomas-Greenfield |
The United States has said that Nigeria’s estimated middle class of 50 million people will help grow the country into one of the top-ten global economies by 2050.
It, however, expressed doubts that much of the billions of dollars looted from Nigeria in the last decade would be recovered.
The US Assistant Secretary, Bureau of African Affairs, Linda Thomas-Greenfield, stated this in Washington ahead of the meeting of the US-Nigeria Bi-National Commission, which took place yesterday.
She said: “In case anyone has any doubts on the extent of Nigeria’s importance in Africa and the world… Nigeria’s population is projected to reach 400 million by 2050, overtaking the United States counand becoming the third most populous country in the world. The median age in Nigeria is 18. Nigeria is Africa’s largest economy and Africa’s largest oil producer. The country’s middle class of roughly 50 million people is expected to help grow the country into one of the top-ten global economies by 2050.”
Thomas-Greenfield stressed the importance of Nigeria to the world when she said: “These statistics paint the picture of a country with enormous potential and opportunities ahead of it, yet daunting challenges it must tackle in order to succeed. There is cause for cautious optimism at this juncture and the United States looks forward to doing everything we can to partner with Nigeria to seize the moment.
“Why is it so important that we seize the moment? It’s simple: we need a strong, proactive Nigeria, because it’s in Nigeria’s interest, the region’s interest and it is in the world’s interest. Importantly, it is in the United States’ interest, as well. And so, the question in front of all of us today is: What can we do to support a strong, proactive and prosperous Nigeria?”
She, however, noted that despite Nigeria’s size and resources, the United Nations estimated in 2011 that 54 per cent of the country’s population lives on less than $1.25 a day and 16 per cent of children die before reaching their fifth birthday, largely as a result of preventable diseases.
According to her, “Nigeria has also struggled to provide adequate and reliable power to its citizens despite its vast natural resources, with only 45 per cent of its citizens currently having access to electricity.” In addition, Thomas- Greenfield stated that massive corruption has resulted in Nigeria losing billions of dollars every year, especially in the last decade alone.
“Although much of this money that has been siphoned off will likely never be seen again, imagine the impact that this money could have had on Nigeria’s infrastructure and economy,” she stated.
She said that despite these challenges, the US believes there is cause to be optimistic about Nigeria’s prospects, particularly in the aftermath of last year’s elections.
Thomas-Greenfield said: “Nigerians have newfound optimism and an opportunity to set their country on a path to capitalise on its nearly unlimited potential. The election was a first and major step toward Nigeria fundamentally altering its course – and the country today stands at a crossroads.”
The US top official stressed that if Nigeria implements sound policies, the country has potential to regain its role as a strong and effective global player, a leader on the African continent, and an engine of economic growth throughout West Africa and the continent.
Her words: “We want to partner with Nigeria – its people and its government – to make that a reality, and we want to work with Nigeria on issues of global importance such as climate change, nuclear security, sustainable development, strengthening collaboration on global health priorities, and countering violent extremism.
“We are also supporting efforts by Nigeria’s Economic and Financial Crimes Commission (EFCC) and the judiciary to investigate and prosecute complex corruption cases. We have engaged religious communities, who are a very powerful force in Nigeria, to join in the fight against corruption. Corruption will be fought not just through technical assistance, but through widespread social change.”
She said that despite these challenges, the US believes there is cause to be optimistic about Nigeria’s prospects, particularly in the aftermath of last year’s elections.
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