I want me some ‘MINT’

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.

Then came N11 (next 11 emerging markets). Neil is now marking out MINT, namely Mexico, Indonesia, Nigeria and Turkey from the N11 ones to watch out for huge economic growth to be as big as 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

Advertisements

2 thoughts on “I want me some ‘MINT’

  1. A land filled with milk and honey……a land of many potentials. There it ends! Too many rotten apples have corrupted our bunch. For our nation to get to that promised land (meaning the masses to start benefiting from real and imaginative growth) we will need a combination of God and man as the latter can’t do it alone.

  2. Agreed. The opportunities in Nigeria are quite abundant but the ineptitude of her leadership coupled with systemic corruption has resulted in a snail growth. The promise that seem to help young entrepreneurs set-up small scale web based services is the innovation around financial and payment systems. Unless the epileptic power situation improves, the hope for eliminating wide spread unemployment amongst her teeming population remains a dream.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s