After the second world war, Germany was devastated. The economy collapsed under the weight of the bombshells. The national currency was not worth the value of its printing. There were no jobs for able-bodied (wo)men. The situation was a natural emergency.

War-ravaged Germany rose to the occasion with economic philosophies that saw young men engaged in the morning to dig trenches while another set were engaged in the evening to fill up the gourge. Germany is the fifth biggest economy of the world while others are still living on their colonies.

Nigeria, the giant of Africa and once the strongest economy of the continent is now a 'japa' country. Power supply is in shambles, no water, roads are bad, salary payment is now a problem with incessant ASUU strikes, industries gone, crimes and lawlessness everywhere. A country where money was not the problem but how to spend it. The young ones listen to tales of dozen of peak milk bought for N2.20k, Udoji bonus, people abroad writing letters back home for financial support, young people receiving multiple employment letters and changing jobs at will, midnight street parties, free education with incentives and other tales of the 70s and 80s told by those in their 50s - 70s with nostalgia. Ours is a story of grace to grass. Those who had it fine in those days are resigned to fate that such times can never come back again.

Suddenly, we started learning new vocabularies from the International Monetary Fund and World Bank. Subsidy removal (that is still a subject worthy of semester study today), austerity measures, debt servicing, forgiveness, buyback, rescheduling...

We entered a bizarre epoch characterised by monumental corruption, waste, disproportionate cost of governance, scientifically awkward formula for democracy, incursion of military armed robbers some of who should be sentenced postmortem, a poor understanding of the science of money, mismanagement of resources and a legion of dependent population. Now, we are at the precipice of social, political and economic bankruptcy and the need has arisen for compatriots to (a)rise.

When a building shows clear signs of impending collapse, there is need to either demolish and rebuild or make substantial renovation as the circumstances may require. Germany rose back because the thinkers had heads not only for wars. They overtook their conquerors and maintained a disciplined life. Even the bundles Liga does not buy expensive footballers. 

Our case is only bad and not irredeemable. In any case, there is no irredeemable case for willing and blessed minds. We still have some leftovers of manna and the natural blessing of strength and resistance.

This serial seeks to dissect the problems with the ultimate hope of suggesting some antidotes and a superstructure as an economic formula going forward.


S. O. K. Shillings Esq.

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