Ex- international, Segun Odegbami, has disclosed that erstwhile Super Eagles Coach, Jose Peseiro, did not resign as being peddled.
Odegbami who made the call in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos, said the gaffer’s contract ended and it was not renewed.
He urged him to move on, adding that Peseiro had performed averagely as coach of the Super Eagles.
“Peseiro did not resign as the story is being peddled, his contract ended and it was not renewed, end of story.
“He should bow out when the ovation is loud. If the ovation was not loud, the government wouldn’t have given him the award that nobody could have ever imagined.
“Peseiro got a reward that has never been given to any coach in the world, not because he won the AFCON, but because he came second.
“He should leave Nigeria alone to face the future. We need a coach who will take us to win something because we are tired of coaches who cannot win anything for us,” he said.
He called on the Nigeria Football Federation (NFF), to look inward for an indigenous coach to handle the Super Eagles, adding that Nigeria needed a better hand to handle the Super Eagles.
“Unless we want to be enslaved forever, in our colonial mentality where we think that only the white can coach us to success.
“All around us, we hear about some Nigerians who are excelling in all fields of endeavours and they are leaving the country to go and help other countries.
“Football is not a rocket science, but a simple game, we have lots of Nigerians who have all the qualifications to take us to any level.
“For me, I won’t suffer from colonial mentality again and enough of foreign coaches, now, it’s time for a Nigerian Coach to handle our national team,” he said.
The Yoruba nation activist, Sunday Adeyemo, popularly known as Igboho, has urged traditional rulers in the Southwest to support him in flushing out criminality and banditry from the region.
Igboho said he would collaborate with traditional rulers to put a permanent end to insecurity in the Southwest.
In a statement he signed, he lamented that insecurity was responsible for death and farmer-herder crisis in the region.
“I welcome the idea, and assure them that I will do my best to checkmate incidence of insecurity provided I receive the backing of the relevant security agencies, Yoruba monarchs and other stakeholders.
“Insecurity and threats precipitated by banditry, herders/farmers clashes, leading to deaths and massive destruction of farmlands have driven away farmers and agric entrepreneurs from farm settlements in Yorubaland.
“We need to flush out criminal elements, who have occupied our forests using the place as launch pads to jeopardize the peace in our communities, towns, villages and amulets. I am ready to lend my support in this regard,” he said.
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, says he is alive because God is wonderful, recalling how he once escaped death by the whiskers.
He spoke at the Redemption Camp, off Lagos-Ibadan Expressway in Ogun, on Saturday as he clocked 82, with congregants celebrating him.
Adeboye narrated the incident, which many years ago, according to him, could have claimed his life, if not for a miraculous intervention of God.
He referred to an earlier narrative by his former driver of several accidents in which the cleric and his wife escaped death in various incidents on the way to Ilorin, Kwara.
Adeboye said that the most frightening was one in which their vehicle came face to face with a trailer that was coming at full speed on a narrow path, by a bridge which had a river by its side.
“Somehow we passed,” he said, noting that it was a miracle that they escaped unhurt in the incident, which left both him and his driver shaking.
Adeboye said the escape amazed his driver, that all the way to Ilorin, all he was repeating was ‘wonderful.’
“That I’m alive today is because His name is called wonderful,” he said, and prayed that God would be wonderful in the lives of the people.
Adeboye appreciated the church members for celebrating him, praying that none of them would die young, and that they would be greater than him.
He said that his 82nd birthday anniversary also marked the 38th anniversary of the annual Special Holy Ghost Service organised by the church.
Adeboye thanked God for the lives that had been touched through the programme.
The cleric, at the event, went on to preach on the theme of the Holy Ghost Service – On Eagles Wings.
Preaching from Exodus Chapter 19, he said, “When God hears and takes notice of a person, the life of such a person changes for better.
“God can grab you from the lowest point on earth and put you on the throne.”
According to him, when one’s case is beyond any human assistance, the God who knows will send help.
The cleric said that all God required was faith and holiness, and He was able to give sweatless victory.
He prayed that God would hear the cries of the people, carry them on eagle’s wings and deliver them totally like He did for the children of Israel.
A version of this article was first published in my June 21, 2014 column. It is still relevant today.
The other day I was reflecting on Nigerians’ new favorite pastime: endless griping about the increasingly disabling dysfunction of the country. And I realized that one theme that often stands out when we bewail our present conditions is that we almost always sentimentalize the past.
In other words, many Nigerians find relief from the worries of the present by taking a mental escape to the past.
For instance, when Nigerians bemoan the “indigene/settler” dichotomies in many states of the country, they like to recall, for example, that as far back as 1956, a Fulani man from Sokoto by the name of Malam Umaru Altine was elected the first Mayor of Enugu, the political capital of Eastern Nigeria. His religious and ethnic identity didn’t stand in the way of his election—as it certainly would in contemporary Nigeria.
They also remember that when the late Alhaji Abubakar Rimi was governor of Kano State in the Second Republic, he appointed many non-Kano indigenes, including Christians from the South, as advisers and directors. There are several other examples of inclusiveness from the past that we invoke to deplore the politics of intolerance and exclusivity of the present.
[It should be noted, though, that Vice President Kashim Shettima, as governor of Borno State, blazed a trail in appointing southern Christians as cabinet-level advisers and aides. He appointed a certain Ifeanyi Onwubuya as his Chief Detail. Chief Kester Ogualili was his Special Adviser on Community Relations. One Christopher Godwin Akaba served as his Special Assistant. Babagana Zulum, Shettima’s successor, appears to be continuing with the tradition.
Lagos State governors, including the current one, have also historically been ethnically ecumenical in their choice of gubernatorial aides and advisers. They usually have advisers from representative parts of the country. There are probably other “inclusive” governors like Lagos and Borno governors that I am not aware of. I welcome any information that helps me to expand my knowledge of this.
But, of course, this won’t earn our praise or become a reference point of inclusivity, even if it is only merely tokenistic, because it’s still in the present. It takes the passage of time to valorize gestures like this.
And when Nigerians bemoan the worsening insecurity in the country, especially in the northeast, they never fail to recall that Borno State, the main theater of Boko Haram’s unceasing carnage, used to be so peaceful that its license-plate slogan is “home of peace.” Now, that slogan reads like a cruel joke.
On almost every imaginable subject—infrastructure, electricity, standard of education, tolerance, security, governance, leadership, etc.—our past has become our refuge from the scourge of our present. About the only area that Nigerians don’t look to the past for inspiration is telecommunication. No one looks back to the days of NITEL with nostalgia even in the face of the crappy GSM services that private telecom operators provide now.
I know of no society that valorizes its past, in even the most trivial indices, with as much wistfulness as Nigeria does. Here in the United States, to give just one example, rather than a sentimental longing for the past, I notice a tendency toward chronocentricity, that is, the notion that the present is superior to anything that preceded it.
For instance, when Americans discuss race relations, they look back at their past with disdain. Even though they are far from achieving racial equality, they all seem to agree that they have come a long way; that every subsequent generation is more racially tolerant and broadminded than the one that anteceded it.
As some Black American leaders have pointed out, the fact that racial incidents like the Trayvon Martin murder case captured the national imagination and became the subject of intense national debate speaks to the unusualness of such cases and indicates how much progress has been made in race relations.
Although Americans also complain about declining standards in education, it isn’t as much a national obsession as it is in Nigeria. In fact, studies now show that young Americans actually read more print (and—obviously—electronic) books than did previous generations.
In many societies, people say things like “this is the 21st century, for God’s sake!” to rail against people who are narrow-minded, who are ensconced in their primordial cocoons, who are opposed to progress. Implicit in this utterance is the idea that the current age is an improvement on the previous ones; that history proceeds in a progressive, not a recursive, direction. Of course, this is not entirely accurate, but it does capture a certain level of confidence about the present—and optimism about the future.
Nigerians don’t have even this illusory luxury. The past is a lot more comforting than the present and is therefore a better template for the future. But why wouldn’t it be? As a nation we seem to be moving from bad to worse in almost every sphere.
At a time when most closed societies are opening up and open societies are becoming even more open, we are becoming more wedded to subnational loyalties than ever before.
And stealing of public money no longer makes headline news unless it’s in millions or billions of US dollars. What is more, we have become so desensitized to death that unless people die in their hundreds, newspaper editors don’t put it on the front page.
Even universities that are called “ivory towers” because of their putative insulation from the reality of everyday life are affected by this national culture of worshiping the past. University teachers look to the 1960s, 1970s, and 1980s to reclaim the idea of the university.
I have never heard or read any Nigerian university teacher brag about improvement in scholarship and pedagogy in the universities in the course of the years.
No future can be envisioned out of this depressingly dark present. That is why we glorify and idealize the past. But a country whose past is better than its present in most indices of human development is in a bigger trouble than it realizes. And, most certainly, a country whose future lies in its past has no future.
But, wait! Are we, perhaps, guilty of a phenomenon that psychologists call “rosy retrospection”? That is, the human tendency to look at the past more positively than the present because it has faded from our active memory.
When I look at the archives of the past that we sentimentalize today, I see the same lamentations of decline and dysfunction that we have become accustomed to. Is it a case of every epoch is the worst until it is succeeded by another— and the passage of time and the frailty of human memory wash off is ugliness?
Bille People in Both Rivers and Adamawa States?
My friend Professor Moses Ochonu called my attention to a status update shared by the sensationally impressive polyglot known as Adedeji Odulesi in which he talked about an ethnolinguistic group called Bille, which he said is found in the “Demsa and Mayobelwa” local government areas of Adamawa State and in the “Degema Local Government Area” of Rivers State.
He said the dialects of the Bille language in Adamawa and Rivers states are still mutually intelligible, i.e., they understand each other in spite of the wide geographic, historical, and cultural separation between them.
“Both claim to be brothers and do visit one another,” he wrote. “The Bille from Adamawa are said to have visited their kith and kin in Rivers in 2001, 2012 and during the installation of their new king.”
If this is true, it’s truly intriguing and thought-provoking because it defies our conventional understanding of language and people. It would serve as another evidence of the labyrinthine complexity of ethnic identities in Nigeria.
After reading of this, I decided to search up “Bille language” and “Bille people.” The results I got were jarring. All the articles I read about the “Bille people” talk of only Rivers State. There is no mention of them in Adamawa State.
On the other hand, articles about the “Bille language” talk about the language in Adamawa State. There is no indication I can find anywhere that the language can also be found in Rivers State.
Yet Odulesi isn’t a flippant person. But is there a Bille person in either Rivers State or Adamawa State who can confirm what Odulesi said about them? I would really appreciate it.
Should this turn out to be true, it would be a chapter in my forthcoming book on collective identity construction in Nigeria. Please share with people who are from these places.
This report brings you this week’s biggest news stories from around the country.
Nigeria has increased its crackdown on cryptocurrency platforms in the country, leading to reported disruptions for several users. The Binance platform was specifically targeted in this crackdown following accusations by the Central Bank governor of being used for illegal transactions.
Renowned Nobel laureate, Wole Soyinka, graced PUNCH Newspaper’s 50th anniversary. Did the efforts by the Nigerian Labour Congress to shut down the country through protests fail to achieve the desired outcome?
President Bola Tinubu dusted off the Oronsaye report and called for immediate implementation. Here are highlights from the week’s biggest news stories, from February 25 to March 2, 2023.
Soyinka calls for decentralisation
Nobel laureate, Prof Wole Soyinka, criticised previous national conferences in Nigeria, describing them as deceitful attempts to pacify citizens rather than genuine solutions for national challenges.
Soyinka at a public lecture in Lagos to celebrate PUNCH 50th anniversary.
Speaking at a public lecture to celebrate PUNCH Nigeria Limited’s 50th anniversary, Soyinka urged leaders to prioritise decentralisation for effective national development, stating that it is essential for maximising productivity and self-sufficiency.
“When the word restructuring is booted around, we often have the challenge, what do you mean by restructuring?
“Well, I don’t even like the word restructuring, I prefer the expressions like reconfiguration, decentralisation. And those who lead us they recognise the necessity of it; they recognise the importance and almost the inevitability of decentralisation until they get in power,” he said
Soyinka emphasised decentralisation’s importance in enhancing food production and addressing hunger.
“As a veteran of food security working conferences from Uganda to India, from Paris to Sochi, I insist that for a nation to be food self-sufficient, and sustainably, decentralisation is the key, not collectivisation,” he said.
He stated that decentralisation is not just a slogan but a necessary step towards addressing the nation’s incomplete mission of nation-building.
The one-day protest
The Nigeria Labour Congress and affiliated unions initiated a national protest on Tuesday, addressing concerns about the high cost of living, inflation, insecurity, and general hardship in the country.
Protesters, led by NLC President, Joe Ajaero, marched to the National Assembly and presented a letter of demands to President Bola Tinubu through the lawmakers.
However, following the first day of protests, the NLC announced the suspension of the nationwide demonstration slated for Wednesday.
In a communiqué issued after the National Executive Council meeting, the NLC expressed confidence that the government had received their message effectively.
Despite the decision to suspend the protest, Ajaero revealed at a subsequent press briefing on Wednesday that the congress faced intimidation and threats, compelling them to halt the demonstration.
NLC President, Joe Ajaero
He said, “We were threatened with all manners of consequences that would be meted on us if we went ahead.
“We were, however, not perturbed, as lifting the heavy yoke of suffering upon Nigerian workers and masses left us with no option than to press on,” Ajaero revealed.
Ajaero highlighted the NLC’s commitment to alleviating the hardships faced by Nigerian workers and the general public, despite the obstacles.
Additionally, he disclosed he has evidence of the “importation of agents” mobilised to disrupt the peaceful demonstration through violence during Tuesday’s protest
FG versus Binance
The Federal Government is intensifying its scrutiny of Binance, a cryptocurrency exchange company, amid concerns about its impact on Nigeria’s economy.
According to reports, the government is considering demanding over $10bn from Binance as a penalty for its alleged involvement in illegal transactions in the country.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, revealed in an interview with the BBC that discussions on compensation and fines are ongoing, highlighting the potentially significant losses Nigeria has suffered while Binance profited.
This move comes amidst efforts to stabilise the value of the naira, as Binance users allegedly manipulated dollar-naira rates, leading to a sharp decline in the currency’s value.
Onanuga also stated that Binance is not registered in Nigeria and has no physical presence in the country.
The Office of the National Security Adviser confirmed that Nigerian authorities are investigating Binance’s operations.
This development follows reports of Binance executives being detained by the Nigerian government and the platform’s suspension of naira-denominated transactions.
It also comes after Binance’s settlement of $4.3bn in criminal money laundering charges with the U.S. Department of Justice.
Oronsaye: The Rise of the Sceptre
Twelve years after the submission of the Stephen Oronsaye Report, the Federal Government announced on Monday its approval of the implementation of some of its recommendations aimed at reducing the cost of governance.
Consequently, 29 government agencies will be merged, while eight parastatals will be integrated into eight other agencies.
Additionally, four agencies are set to be relocated to various ministries, and one agency is slated for scrapping.
As per the announcement made by Minister of Information and National Orientation, Mohammed Idris, it comes in response to the 2012 Oronsaye report, which pointed out the increase in government parastatals and suggested major restructuring.
The report suggested reducing the number of statutory agencies from 263 to 161, scrapping 38 agencies, merging 52, and reverting 14 to departments within ministries.
It also proposed repealing the law, establishing the National Salaries and Wages Commission and merging Nigeria’s top three anti-corruption agencies.
The decision to implement the Oronsaye report was part of President Bola Tinubu’s agenda for governance reform.
Agencies slated for merger include the National Agency for Control of HIV/AIDS, the National Emergency Management Agency, and the Directorate of Technical Cooperation in Africa.
Certain agencies such as the Federal Radio Corporation and the National Commission for Museum and Monuments are set to be merged or subsumed into other entities.
Some agencies, like SERVICOM and the Border Communities Development Agency, will become departments within other agencies.
The restructuring effort aims to enhance government efficiency, reduce duplication of functions, and free up resources for developmental projects. To facilitate the restructuring and ensure legislative amendments, President Tinubu constituted a committee with a 12-week mandate to oversee the process.
Peseiro bids farewell
Portuguese coach José Peseiro has said goodbye to the Super Eagles following the conclusion of his contract. He expressed his pride in his time with the team, highlighting their second-place finish at the 2023 African Cup of Nations.
Amidst the uncertainty surrounding his future, negotiations for a contract extension were in progress. Peseiro has mentioned receiving attention from other national teams.
There was a lot of talk about who might take over, with Emmanuel Amunike and George Finidi being considered.
Some people have suggested hiring a local coach, but technical director, Austine Eguavoen, backed the idea of extending Peseiro’s contract for stability.
Jose Peseiro
As conversations progress, Nigerians are eagerly anticipating clarification before the upcoming 2026 World Cup qualifiers in June.
Peserio was appointed head coach of the Super Eagles in 2022 and he helped the national team finish second at the 2023 Africa Cup of Nations.
2024 Olympics Qualifier: Cameroon juju vs Nigeria’s God
Another Nigerian coach had an interesting experience this week in the form of voodoo. When the Super Falcons beat the Indomitable Lioness of Cameroon 1-0 at Moshood Abiola Stadium in Abuja to advance to the final stage of the 2024 Olympic Games, discussions about voodoo and juju in football circles came up.
Esther Okoronkwo’s goal propelled Nigeria to the final stage of the qualifiers. However, in the closing minutes of the game, Cameroon sent Annie Enganemben on as they were about to launch a free kick into the Nigerian box, with claims that the player was sent on to touch the net in a bid to give Cameroon a saving grace as they were running out of options, and had to resort to diabolical means.
In an already viral video, the substitute, alongside another striker, were seen trying to run towards the Nigerian goal in an attempt to touch the net, but Asisat Oshoala and other Super Falcons players took it upon themselves to prevent that from happening.
The drama led to the player being sent off after she hit Nnadozie in the process.
However, Super Falcons manager, Randy Waldrum, dismissed the notion, stating his disbelief in voodoo. Player Deborah Abiodun emphasised the team’s focus and faith amidst distractions, highlighting their belief in God.
“We kind of saw it as a point of distraction but we remained focused regardless of whatever they believe in, we believe in God and in Him we stand. So we don’t care about the voodoo,” Abiodun stated.
With the Super Falcons striving to qualify for the Olympics after their last appearance in 2008, there is optimism under Waldrum’s leadership to end this drought and clinch a spot in the Olympics.
Sisi Quadri
On March 1, 2024, the entertainment world was plunged into mourning as news broke of the untimely passing of popular actor, Quadri Oyebamiji, fondly known as Sisi Quadri, at the age of 44.
Sisi Quadri
Reports indicated that the actor had been battling persistent hiccups, attributed to a kidney-related ailment, while in his hometown of Iwo, Osun State.
Mourners, filled with sorrow, gathered at the residence of Quadri’s father, Alhaji Jimoh Oyebamiji, in Iwo, to lament his passing.
Quadri passed away slightly more than a year after his mother’s death in February 2023. He leaves behind a legacy of remarkable performances known for his distinctive fast-paced dialogue delivery and witty insults.
The news of his passing elicited an outpouring of grief from colleagues and fans alike, with fellow actors such as Abiola Adebayo, Bolaji Amusan (Mr Latin), Saidi Balogun, and Odunlade Adekola expressing their condolences on social media.
Quadri’s death was a major blow to the Nigerian entertainment industry, creating a void that will be that will be difficult to fill.
Legal luminary and human rights activist, Dr. Olisa Agbakoba (SAN), has said President Bola Tinubu was right to have removed fuel subsidy.
Besides supporting the subsidy removal, Agbakoba said he was fully in support of correcting the economy. However, he noted, “I do not support the slow pace at which the government is tackling the problem of hardship now.”
The SAN, who is an expert in maritime law, and former President of the Nigerian Bar Association, NBA, made the points in an interview with Vanguard.
10 ministers
He also told Vanguard that Tinubu needed to reduce the number of ministers to 10 or 12.
He said: “What are you doing with 48 ministers? It is just too big. You don’t need all that. I recommend a maximum of 12.
“So many ministries can be merged and others abolished. What is the Ministry of Information doing? All the press secretaries in the Villa cover what the Minister of Information does. Tell me, what does the Minister of Information do daily? Nothing!
“We also do not need Agriculture and Housing ministries. My take is that the government has no house and does not need a Minister of Housing.
“There should be a very clean sweep; you can bring it down from 48 to about 10 to 12 ministers.
“We should abolish that section in the constitution that says every state must produce a minister.
Subsidy removal
Recall that on May 29, 2023, President Tinubu declared that subsidy was gone. He later described subsidy as an elephant that would bring Nigeria to its knees.
According to Agbakoba: “Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not every day is Christmas?
“The elephant that was going to bring Nigeria to its knees is the subsidy. A country that cannot pay salaries and we say we have the potential to encourage ourselves. I think we did the right thing.”
We institutional palliative — Agbakoba
Speaking on the subsidy removal, Agbakoba said: “The principle of subsidy applies across the world. Every government uses the proceeds to offer palliatives to the aged, the poor and the unemployed.
“The problem with our own is the method of delivery.
“For instance, in the US, there is a social security law. So, the palliative process is institutionalised. It is not administrative.
“Even at that, there is a process of verification of people who are entitled. I don’t see how it cannot be done here. We have a lot of identification tools like BVN, NIN and others that can be used for people who are qualified for the palliative.
“On the larger issue of subsidy, it is really not a bad idea. France has just announced 45 billion euro to subsidise electricity.
“The budget of the United States is $5 trillion and half of it goes into subsidising education, free health, and support for the aged. The UK pays 200 billion pounds to support the national health system.”
‘Where’s the subsidy money’
Continuing, he said: “On the point whether President Tinubu was right to remove it, yes, he is right, to recreate the economy.
“But what hasn’t happened is the consequential follow-up, which is a gap creating the hardship now.”
Also suggesting a way out, he added: “We need to pass, as a matter of urgency, the social security act which will use existing data to identify people who are entitled to get palliative.
“What we have is the administration, where the government said it has set aside N100 billion for palliative but we don’t know where it is going.
“Where is the money that has accrued from the subsidy removal? How much has been paid as palliatives, and where is the money going to?
“Those are the gaps I will want the government to cover. If they do so, it is not going to be difficult to persuade Nigerians that ‘yes, this is a very tough period that we must go through to correct the economy’,” Agbakoba added.
Nollywood actress, Laide Bakare, has debunked the accusation of sexualising controversial Nigerian singer, Habeeb Okikiola, popularly known as Portable.
Naija News recalls that trouble started between the duo after the movie star, during an interview with her colleague, Abiola Adebayo, on her YouTube show called Portable a ‘dirty boy’ from Sango.
Reacting, Portable, in a video shared online, claimed that the movie star made sexual advances towards him despite using demeaning words on him online.
The ‘Zazu Zeh’ crooner also said that Laide Bakare was in his social media DM begging for his WhatsApp number and pleading with him to attend her birthday/event.
In an interview with Legit, Laide said the Zazu crooner was someone she used to enjoy his music before he became a nuisance.
Addressing the allegation of making sexual advances at Portable, the thespian stated that she had never met the singer, adding she only sent him a DM because she wanted him to perform at her show.
She said, “The first time I noticed him, he was different. He looked crazy and funny, but he is no more funny, now he is a nuisance. I used to like his style of music. That time when he first came out, I wanted him on my show. I didn’t have his phone number, so I sent him a message on Instagram.
“I requested for his contact so that we can discuss about my show. Later, I had to go through his former manager who later sent his contact to me but Portable didn’t pick up, so I went back to his manager. We did not conclude our discussion before I dropped the idea.
“Me Ke?. I have never seen him in my life. I can never shake him. He looks so dirty. He claimed I hugged him, I said me, hug ke? I have worked with his fathers in the music industry. I have featured 9ice, Olu Maintain, and Dekunle Fuji in my films.”
Countries with the best economy in the world contribute immensely to the global Gross Domestic Product (GDP) and have the power to influence international trade and world economic policies.
Naija News reports that the GDP is a measure for assessing the magnitude of a nation’s economy, which includes investments, expenditure, and value of exports, goods, and services.
Currency exchange rates also influence the strength of a country’s economy.
When the GDP of a country goes up, it means the economy is doing well. If GDP falls from one quarter to the next, it is a negative growth. Two successive quarters mean the economy is in recession.
There are no identical economies. What defines a country’s economy is based on resources, culture, history, geography, laws, and the country’s evolution.
In this article, you’ll get to know the top 10 countries dominating the world’s economies.
1. United States of America The Gross Domestic Product (GDP) of the United States is estimated to be about 26.85 trillion dollars, which is the highest in the global economy. Different service sectors such as technology, finance, healthcare, and so on have been major contributors to the country’s total output.
The United States of America has been notable for being one of the top economies in the world. The country’s economy has been able to thrive because of government policies, technologies, and productivity. The United States of America practices capitalism as its economic system — this means the government has no business doing business.
2. China China is the second world’s largest economy, with a GDP of about 19.37 trillion dollars. This is a country whose economic expansion has become a global phenomenon. China operates a mixed socialist market economy. The main drivers in the economic growth of China are private investment and exports.
As of today, China is the fastest-growing consumer market and accounts for about half of the global consumption of metals. The country plays a crucial role in international trade considering being the largest trading nation in the world. Also, it has the largest foreign exchange reserves worth 3.1 trillion dollars.
3. Japan Japan has been having significant economic growth since the 1960s. It ranks third with a GDP of 4.41 trillion dollars.
What made Japan one of the top economies in the world is its advanced social market economy, referred to as the “East Asian Model”. By market capitalization, Japan Exchange Group is the world’s fifth-largest stock exchange and the world’s second-largest foreign exchange reserves worth 1.4 trillion dollars.
It is also the world’s fourth-largest consumer market. In terms of automobiles, Japan is the second largest automobile manufacturer in the world. This is a country often ranked among the world’s most innovative countries.
4. Germany Germany has a GDP of 4.31 trillion dollars; which makes it one of the top economies in the world. Germany is the top economy in Europe, with a highly developed social market economy.
In 2016, Germany had the highest trade worth 310 billion dollars. This feat made Germany one of the largest exporters globally, worth 1.81 trillion goods and services.
Its major exports are machinery, food products, rubber, plastics, electronic products, chemical goods, and basic metals. Germany is the first country to explore renewable energy and a top location for trade fairs
5. India India’s 3.74 trillion GDP places it among one of the top economies in the world. The economy has been one of the fastest growing in the world’s economies. India’s economy has grown from just a mixed-planned economy to a mixed middle-income developing social market economy.
Right from independence in 1947 to 1991, the Indian government followed the Soviet model in promoting economic policies. India’s GDP is driven by government spending, investment and exports.
In 2022, India became the 6th largest importer and 9th largest exporter, including domestic consumption; the country is the world’s sixth-largest consumer market. The service sector is about 50 per cent of the GDP and is the fastest-growing sector.
6. United Kingdom Despite the uncertainties that ensued from Brexit, the United Kingdom has managed to be one of the top economies in the world, with a GDP of 3.16 trillion dollars.
The economy of the United Kingdom is very developed in terms of social markets. In the world today, the United Kingdom constitutes 2.3 percent of the world GDP by Purchasing Power Parity (PPP).
The service sector constitutes 82% of the country’s GDP. The technology sector is worth 1 trillion dollars. Going back to history, the United Kingdom was the first country to industrialize in the 18th century.
7. France France’s GDP is estimated to be 2.92 trillion dollars. Some of them are leading globally; that is automobile, railway, and aerospace. About 70 per cent of the country’s GDP comes from the service sector.
France’s social market economy is highly developed with different strategic sectors. In 2020, France was acknowledged as the largest Foreign Direct Investment recipient in Europe.
Bloomberg Innovation Index 2020 also ranked France as one of the top 10 innovative countries in the world. The International Monetary Fund (IMF) ranked France by GDP per capita in 2023 as the 23rd country with 44, 408 dollars per inhabitant.
8. Italy Italy is widely known for its influential sectors; economy and agriculture including a highly developed social market economy. It is the eighth largest exporter in the world, with a GDP of 2.284 trillion dollars.
The world’s third largest gold reserve is in Italy and it is a great contributor to the budget of the European Union. Italy boasts of many multinational corporations which serve as the backbone of the industry.
Also, what makes Italy one of the top economies in the world is its significant production of furniture, vehicles, pharmaceuticals, food, and clothing. Italy is the hub for luxury goods and is the third largest in the world.
9. Canada Canada is the ninth among the top world economies with a 2.09 trillion dollar GDP. The economy is a mixed one; exporting and importing goods worth over 630 billion dollars. Since the beginning of the 20th century, Canada has been growing economically and practically transformed the country from a rural to an urbanized industrial one. The service sector dominates the Canadian economy; and employs three-quarters of the country’s workforce. Canada is a leading exporter of gold, platinoids, uranium, zinc, and nickel. In the aspect of agriculture, it produces canola, wheat, and other grains.
10. Brazil Brazil ranks tenth among the top economies in the world. The country’s GDP is about 2.08 trillion dollars. The economy is quite diverse, from manufacturing, agriculture, and services.
According to the International Monetary Fund (IMF), the GDP per capita in 2023 was around 10, 413 per inhabitant. Between the years 2000 to 2012, Brazil was one of the fastest-growing economies in the world.
It was able to diversify the economy by focusing on gold, cotton, and sugar. Brazil is one of the largest steel producers and exporters.
Saudi Arabia formally launched its bid to host the 2034 World Cup on Friday, nearly four months after football’s world governing body FIFA announced the kingdom was the only candidate.
The bid comes two years after neighbouring Qatar hosted the first World Cup in the Middle East.
The campaign is under the slogan “Growing. Together”, the Saudi Arabian Football Federation (SAFF) revealed its bid logo, website, as well as a short bid film that celebrates “the passion, spirit and diversity of football in Saudi Arabia”.
“This campaign is powered by the hopes and dreams of 32 million people in Saudi Arabia,” the head of the SAFF bid unit, Hammad Albalawi, said in a statement.
“Our responsibility is to submit the best possible bid to FIFA, make our country proud and fulfil the trust placed upon us by more than 130 Member Associations across the world who supported our bid.”
Under Crown Prince Mohammed bin Salman’s Vision 2030 reform agenda, which aims to position Saudi Arabia as a tourism, business and sports hub, the kingdom has invested heavily in sport.
On Wednesday, Saudi Arabia’s Public Investment Fund (PIF) announced a “multi-year strategic partnership” with the ATP, the governing body of men’s tennis.
Since 2021, PIF has invested heavily in a number of major sports, including setting up the LIV golf tour, a rival to the PGA, and purchasing English Premier League club Newcastle United.
It also owns four clubs in the Saudi Pro League and has lured global stars including Cristiano Ronaldo and Neymar with huge salaries.
The investment has led to accusations the kingdom is “sportswashing” international criticism of its human rights record.
Saudi Arabia was initially interested in bidding for the 2030 World Cup alongside Egypt and Greece but that idea was abandoned in June, leaving the path open for a tri-continental bid of Spain, Portugal and Morocco, with three matches in South America.
Saudi Arabia announced its intention to bid for the 2034 event on October 4, as soon as the procedure had been launched.
As a result of the continental rotation, FIFA had only “invited” member countries of the Asian and Oceanian confederations to apply — thus ruling out the traditional footballing heartlands.
At one stage, Indonesia had considered a joint bid with Australia, or even other countries such as New Zealand, Malaysia and Singapore, but on October 19 it agreed to support Saudi Arabia’s bid.
Australia was also a contender but withdrew its interest on Monday following the Asian Football Confederation’s decision to back the Saudi bid.
In a new and exciting twist, Big Brother Naija Organisers has hinted at the season 9 edition of the reality TV show.
Naija News recalls that the last edition, themed ‘All-Stars’, had many past winners and contestants from various seasons compete for the cash prize of 120 million Naira.
At the end of the show, Level-up housemate, Ilebaye, emerged as the winner of the All-Stars show, while Mercy Eke emerged as first runner-up, followed by CeeC.
However, in a post via X on Friday, the show organisers tease fans about the upcoming season.
The post read, “Last season, Biggie asked for the All-Stars! This time, he has his eyes set on something different. What could it be this time around?”
