The Nigerian economy has a bad attitude. I am sure you know that by now. This attitude borders on pure hostility and an unholy determination to defeat every effort by our leaders to tame it and free the nation and its people from the ever-present danger of our descent into poverty.
I trace the beginning of the bad attitude of the economy to between 1981and 1982 when the crude oil buyers in the international market refused to buy our crude oil in quantities large enough to keep the petro-dollar flowing into our national treasury. This resulted into something called glut – a technical name for too much oil looking for scarce buyers. We had on our hands the blight dreaded by the managers of every nation’s economy called recession. Wealth receding like the hair on your pate? Got it.
