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Nigeria is poor with tiny economy, says Aregbesola


Rauf Aregbesola, Governor State of Osun.

Former Governor of Osun State, Rauf Aregbesola, has described Nigeria’s economy as a very tiny one with a large poor population.

The minister-designate said that despite previous reports that the nation has the largest economy in Africa, in reality, the country is poor with a ‘very tiny’ economy.

Aregbesola, who spoke as a guest speaker during the book launch of “Eleniyan Perspectives”, written by the immediate past chairman, Committee on Health in Lagos State Assembly, Mr. Olusegun Olulade, said: “We have been living on free money, which is why our economy is very tiny and we have an illusion that we are rich. The number of people that have access to the money is so small and they live large. “


We have no incentive to earn anything that is productive. Any economy that is so driven can never be prosperous. To be successful and to create wealth we must be productive.

Productivity is the act of adding value to everything we touch or we are asked to work upon. The efforts we could put into achieving this is work. If you don’t produce or work to add value then you are parasite.”

The minister designate also spoke on the need for youths to live within their means and emulate people like Olulade, saying that it is the pressure to get rich quick that has pushed a lot of youths into crime.

According to him, “Olulade was one of the few young men that devoted their lives to ensure that Bola Tinubu became the Governor of Lagos State. There is something remarkable about him. He wears a look that commands respect and he is always smartly, nearly and elegantly dressed. That is his greatest virtue as a young man.

“People should learn to discover your needs and separate them from your wants. Needs are your daily needs such as food, water, shelter and others. Wants are things like houses, cars and others. A car is a necessity in our society, but your choice of cars should be according to your capacity. I didn’t receive a salary for the eight years I spent as Governor in Osun State and I never operated a bank account anywhere. I lived in a government house, I passed government roads, my security was provided by the government.”

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