As I made way to resume work in the City today, I reluctantly picked up the metro
paper at Putney station.
I skimmed through to see if there would be any article of interest and voila I saw our very own Alhaji Dangote, the richest man in Africa and 35th in the World. This article was already looking interesting so I decided to read.
13 years ago, Jim O’Neill, former chief economist and head of asset management at Goldman Sachs, coined the term BRIC for four countries (Brazil, Russia, India and China) poised to join the G6 in the economic big time. South Africa was later added to make it BRICS.
Out of this group, the most exciting that O’Neil singled out is Nigeria due to its rich resources and useful population. If young people become employed then Nigeria will arguably be the most exciting in the next 30 years. Nigeria boasts of many creative entrepreneurs and so many educative Nigerians are returning from the US and UK as they smell this opportunity to be the next big thing.
However, there comes the question of who benefits? There is still a wide gap between the rich and poor and this is evident in the BRICS. Good determined and corruption- free governments are key to steering economic developments to benefit the many, said O’Neil.
Let us watch out and see how this pans out