There has been increasing interest in the economic consequences of ethnic fractionalization.
In many situations, ethnic fractionalization generates conflicts that could eventually lead to political instability and civil wars, with long-lasting economic effects. In other cases, the potential conflict represented by an ethnically fractionalized society can affect negatively the rate of investment and induce rent-seeking behavior that increases public consumption.
At present, however, the country is cogitating and nursing the idea of becoming one of the 20 largest economies of the world by the year 2020. This is a wishful thinking, an idea that is ill conceived, a wild goose chase. According to 1 July 2011 World Bank calculation the following are the 20 World largest economies: “United States, China, Japan, Germany, France, United Kingdom, Brazil, Italy, India, Canada, Russian Federation, Spain, Mexico, Korea, Rep., Australia, Netherlands, Turkey, Indonesia, Switzerland and Poland”.10 Which of these is Nigeria preparing herself to replace? The country has first to put her house in order before embarking on the ambitious program of becoming one of the 20 largest economies of the world by 2020. How can this dream be realized when foreign investments into the country is dwindling fast? Investors are scared away by the unfriendly and unstable business environment.
Nigeria has a basic problem to contend with. This is the problem of ethnicity. Nigeria is a federal constitutional republic comprising of 36states and its federal capital, Abuja. Nigeria as a nation is a constituent of several nationalities. There are over 250 ethnic groups and the major ones are Yoruba, Igbo and Hausa. It is however very disturbing that Nigerians have become slaves to their ethnic origins instead of harnessing these diversities towards national development. Nigerians are fanatics when it comes to ethnicity.
In times past the country has suffered a heavy and long halt, preventing her from making giant strides as a rich black nation ought to, a big thank you to the anchor called ethnic fractionalization. Every ethnic group wants to be recognized, as such, the power rumble has plunged the country in to coups, civil wars and more recently, could be argued to have contributed to the event of insurgency. Though distinction between majorities and minorities is important, frequently some minorities are better off socioeconomically or even rule over majorities. Because ethnic or other cultural minorities often have suffered from other groups in the past, they have vivid memories of their tragedies and fears for the future.
Over the years, since independence there have been cases of ethnic violence resulting from allegiance to one’s ethnic group and this has not worked well for the development of the country. Nigeria was engulfed in 30 months civil war as a result of ethnic tension that had brewed for a long period of time. The war was fought, won and lost but the ethnic suspicions and hatred still remains unabated. The problem in our political society is ethnicity otherwise known as zoning. When politicians lose elections, or are in one political crisis or the other, they tend to devise strategies which will appeal to their people. Most northern elites have said times without number that it is the time of the north to govern the affairs of the country.
Furthermore, whatever is done in Nigeria always has an ethnic undertone be it, politics, employment and provision of social amenities. Tribal affiliations are always very strong and visible.
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