When General Gowon said money was not Nigeria's problem but how to spend it. He could have been right if he was referring to money as the last in the Yoruba Values System. Usually, we want to make enough money for basic needs, savings for emergencies, school, retirement or old age. Paying for necessities like food, rent and other monthly bills first. What is left is discretionary income to blow. Nigeria, without discretionary income, blew off its basic needs.

However, Gowon was referring to the avalanche of Oil money that lured the Nigerian Market, into the most liberal market in the world. It was based on the euphoria of foreign income that gave us a false sense of security that we could import any junk we want including pins, pencils, used goods, and garbage from the high seas. Sadly, Nigerians laundered money recklessly outside as if they have discretionary income. By the time Shagari became the President, those who warned them on profligacy were pinpointed as Prophets of Doom.

https://www.thenigerianvoice.com/news/325268/yoruba-must-reestablish-its-values-system-earlier-to-curb-pr.html

Which money bro? Our country is fvcking poor for her population. A budget of less than 40billion$ for a population of 200million people...lol

Country that is majorly filled with poor people with outrageous population. Mtcheeew...

Olaoluwa122:
Which money bro? Our country is fvcking poor for her population. A budget of less than 40billion$ for a population of 200million people...lol

I swr.

Ask yourself what is the population of China, India, Japan, Indonesia etc when they were staving or bombed out?

What resources do they have and how much money did they make?

When Nigeria was making little income from Cocoa, we had Indians, Chinese rail workers and others sending salaries home from Nigeria so that they would not have to sell their children for food.

Fast forward from Cocoa Income that made us rich attracting Africans and others to Oil Income that turned Nigeria into abject poverty.

You are repeating the excuse of politicians about our population is too much to be rich while they launder billions of money out.

Haba, our mutual never do?

ecolime:
Gowon's assertion is wrong.

We have two problems:

1. Nigeria has money problems because we don't make enough in comparison with our huge Population. Simply put; Nigeria is poor.

2. Majority of the money we make is stolen and we don't spend the little remaining wisely.