In 1959 after Fidel Castro came to power in Cuba when he defeated the opposing forces of Fulgencio Batista who had earlier imprisoned him, he decided to make the small country a Communist State. This pitched him against the United States in the then heady days of the Cold War when the US who prided herself as the leader of the free world were determined to stop the growing influence of the defunct Union of Soviet Socialist Republics .
Before the discovery of oil in commercial quantities, Nigeria was developed on the back of agriculture. It was the revenues from cocoa that made the then Premier of the Western Region, Chief Obafemi Awolowo build the Cocoa House, Liberty Stadium, established the Western Nigeria Television which was the first in Africa at a time when many countries in Europe didn’t have it, introduced the free primary education scheme and even scholarships for young westerners desirous of a university education.
I shudder when Niger Delta leaders still scream their voices hoarse on the relevance of oil rather than challenging themselves in building knowledge driven economies which can truly create wealth. I will not bore you with foreign examples and will strict to strictly local examples to more effectively drive home my point. Flutterwave, a Fintech was founded by two young Nigerians – Samuel Iyinoluwa Aboyeji and Olugbenga Agboola in 2016 to provide payments solutions. They attained Unicorn status – an over one billion dollar valuation in barely five years and have raised over 200 million dollars for its expansion within this short space of time.
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