The Africa Review in Five highlights African current affairs from a Christian perspective. Listen and subscribe through Youtube, Apple Podcasts, or Spotify.

Today is Friday, August 11^th, A.D. 2023. This is The Africa Review in Five, written by Paul Schlehlein and presented by Yamikani Katunga.

Good News for Nigeria’s Economy

Late last month Visual Capitalist published an article entitled: “The Top Economies in the World (1980-2017)”. The author, Marcus Lu, not only recorded the top worldwide economies over the past 40+ years, but also predicted which nations would be in the top 15 economies over the next 50+ years. 

The article presented both disappointing news and excellent news for the continent of Africa. The bad news for Africa is that no African nation has ranked in the top 15 worldwide economies since 1980. This is no surprise as Africa has long been the poorest continent in the world, this despite Africa being the most resource-abundant continent on the planet. Africa is rich in gold, diamonds, oil, natural gas, copper, uranium, tropical fruits and hardwood forests. Despite these benefits, most African countries are far down the list in Gross Domestic Profit worldwide. This is the bad news. 

Here’s the good news for Africa. Visual Capitalist predicted that by 2050, Africa will have its first nation in the Top 15 economies in the world: Nigeria at #15. By that time, it is predicted that powerhouse economies like Australia, Spain, and South Korea will drop out of the Top 15. 

What’s even better, Visual Capitalist goes on to predict that by 2075, Nigeria will have the 5^th highest GDP (Gross Domestic Product) in the world. Admittedly, this is a prediction, a forecast, a prophecy. There’s no need to count the chickens before they’re hatched. 

But it is worth asking. “Why the meteoric rise of Nigeria to the 5^th highest economy by 2075? And why the collapse of Japan, which is 3^rd in 2022 but predicted to be 12^th in 2075?”

There is no easy answer to this question. There is no quick and easy solution for a nation to exit poverty and enter into prosperity. In fact, the answer is quite complex. In the book Poverty of Nations, author Wayne Grudem gives a composite list of 78 distinct factors within nations that will enable any poor nation to overcome poverty.

With this in mind, it is interesting to note that Visual Capitalist pointed to the rapid population growth in nations like Nigeria, Pakistan, and Egypt as a major consideration as to why their future GDP prediction is so high. With the rise in birth rates comes a massive labor force behind it. Meanwhile, the GDP within European nations is predicted to plummet, in part because of the falling birth rates. 

What this shows us is that societies should value children, not just because they are a source of blessing and joy to the family, but also because they are crucial to the enduring productivity of a nation. Psalm 127:3 says: “Behold, children are a heritage from the Lord, the fruit of the womb a reward.” The question is, how are children a reward to a nation?

One example is that when a society has more than enough children to replace the current generation, the population increases and the large number of younger workers will be sufficient to support the older, retiring generation. 

1 Timothy 5:14 urges women to “bear children”. There are many reasons for this, and one of them is economic. When a society bears many children, it strengthens its economic growth. The opposite is also true. Nations like Japan, Italy, and other European countries have learned this the hard way with birth rates that crater yearly. China’s “one-child per family” policy has had disastrous effects on their society and economy. 

Children are a blessing to society, not just the church and family. And children are a blessing to a society’s economy. When a nation tampers with God’s plan for the fruit of the womb, their pocketbooks will suffer. Let’s hope more African countries will follow Nigeria’s example.

And that’s it for The Africa Review in Five on this Friday, August 11^th in the year of our Lord 2023. Subscribe to the Missionary Minds podcast on Spotify or Apple podcasts. I’m Yamikani Katunga. Be not weary in well-doing.