Same start, different finish: Economic outcomes for Egypt and Nigeria
Adopting the Egyptian model. Source: Stears Business

2016 was a bad year for most Nigerians. A new government had just come into power a year before, and high hopes were dashed. 

There were promises of more jobs for the youth, reduced inflation rates, and higher growth, but the country was in disarray as the president was “slow” and trying to grapple with the nation’s many issues. 

31% of youths (aged 35 years and below) which made up over 50% of the total population were unemployed, about one in four people were living below the poverty line, and inflation was at 15%. 

Sounds familiar right? 

But this wasn’t the story for Nigeria alone. Egypt suffered a similar plight at a similar time.  

Egypt was barely recovering from a regional uprising which reduced foreign investment and tourism. Coupled with low oil prices, government revenue was in the red. 

Both countries took different routes to solve the problem, though. 

Nigeria

This story is free to read Register for free or sign in to finish reading

Gbemisola Alonge

Gbemisola Alonge

Read Latest

2023 manifesto explained: Analysing APC and PDP’s path to 24-hour electricity

PREMIUM - 07 DEC 2022

2023 manifesto explained: APC and PDP’s plans for insecurity in Nigeria

PREMIUM - 06 DEC 2022

2023 manifesto explained: Tinubu’s economic growth plan

PREMIUM - 05 DEC 2022

Nigeria’s absence at the Qatar World Cup is a missed opportunity, here's why

PREMIUM - 02 DEC 2022

Download our mobile app for a more immersive reading experience

Scan QR code
mobile download