Although Nigeria is considered one of the largest economies in the African continent, it’s still a developing country. The USA, on the other hand, is the largest economy and is known for being a member of the comity of developed nations. In this article, we’d be discussing how Nigeria can become as developed as the USA. Read on as we provide useful recommendations capable of catapulting Nigeria into the league of developed countries of the world.
How Nigeria can be like the USA would be discussed below:
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Diversify the Nigerian Economy
The prosperous economy of the US is linked mostly to its diverse economic base which encompasses a huge range of sectors, including technology, natural resources, farming, retail, financial services, manufacturing, and natural resources. For Nigeria to be like the USA in this regard, the reliance on oil as the main source of national revenue has to stop.
To achieve diversification of the Nigerian economy away from the dependence on oil, the government should focus on expanding other sectors of the economy that contribute to production and employment. Examples of sectors that meet the criteria of contributing to production and employment in Nigeria are the agricultural and manufacturing/industrial sectors.
Export diversification and expanding government revenue sources and public expenditure targets are other dimensions of diversification of the economy that can help Nigeria become wealthy. Having a diverse economic base will also provide Nigeria with a degree of protection from economic shocks.
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Improve the Nigerian Education System
One of the ways Nigeria can be like the USA is for the education system to be improved nationwide. The USA is known for having a good education system that is regarded as being one of the best in the world. In the United States, young people can have access to public education for free up to the end of high school. More so, in the USA, opportunities exist for young people to access scholarships, grants and financial assistance from the state.
To increase the literacy level in the country and help produce talented and skilled graduates capable of contributing to the development of the country, the education system of Nigeria has to improve. For Nigeria to achieve a good education system, there needs to be increased funding to the education sector by both the government and the private sector. At least 26% of the national budget should be devoted to education for the education system to improve in Nigeria.
Some other measures that can help improve the education system in Nigeria are the elimination of examination malpractices, increasing the number of properly equipped and well-staffed vocational and technical centres nationwide, and inclusion of modern skills in the curriculum.
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Improve the Quality of Healthcare in Nigeria
The healthcare system of the United States is regarded as one of the best in the world. Every year, over a million people travel to the United States to seek medical care. In addition to the numbers cited above, millions of people receive medical care in the international satellite campuses of major US hospitals established to bring American healthcare to the rest of the world.
The United States of America also leads the way in terms of medical research and innovation. Also, the USA has the record of having the world’s best cancer survival rates, lower mortality for heart attacks, and a life expectancy for those over 80. Although the American health system isn’t flawless, there’s no doubt that the quality of healthcare is top-notch.
For Nigeria to be regarded as a developed country as the US is, changes must be made to the coverage and quality of healthcare services in the country. One surefire way of improving the healthcare system in Nigeria is for the government to increase the allocation of healthcare in the budget.
Additional measures that can help improve the healthcare system in Nigeria to the standard of the American healthcare system include establishing a systematic approach for performance management and accountability at all levels of the health system, adopting of integrated planetary health governance approach, and ensuring existing government policy and regulation on harmful products (eg tobacco and alcohol). Local and health authorities should also ensure to undertake equity assessments in the implementation of programmes and provision of social welfare and related opportunities.
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Improve Infrastructure
One of the things Nigeria can do to be like the USA is to improve its infrastructure. Although the U.S. infrastructure lags in comparison to its peers in the comity of developed nations, ongoing investments in new infrastructure and the maintenance of older ones puts the United States among the League of Nations with high-quality infrastructure.
Roads, railways, bridges, tunnels, water supply, sewage, electrical grids, and telecommunications are some examples of large-scale infrastructure projects that contributed to boosting the economy of the United States to the $21 trillion it now stands at. In the case of Nigeria, there exist significant infrastructural gaps that certainly will not sustain the economic growth and the explosive population of the country.
For Nigeria to be like the USA in terms of advanced infrastructure across the country, several recommendations can help achieve this goal. One such recommendation to effectively develop infrastructure in Nigeria given the current realities and cash position of the government is that the private sector should support the government in funding such projects.
Aside from suggesting a close collaboration with private investors to develop infrastructure across the country, other measures include better project planning and stronger technical partnerships and commitment to knowledge transfer. The construction and maintenance of roads, railways, bridges, tunnels, water supply, sewage, electrical grids, and telecommunications and other infrastructure in Nigeria would help consolidate the diversification of the economy, which would ultimately boost the economy.
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Additional Measures That Can Help Nigeria Become Like the USA
Aside from the recommendations we provided above, some other measures can help Nigeria be like the USA. Below are some of those additional recommendations:
- Strengthening of the Nigerian military
- Boosting public-private partnership
- Having good leadership at the forefront
- Increasing citizens’ access to housing
- The Nigerian justice system should promote the rule of law according to the provisions of the Constitution and other relevant laws of the land
- Improvement of National Social Protection Systems