Nigeria is Africa's largest economy by far. All that economic prowess has given Nigeria some sort of bragging rights on the continent. This position has enabled Nigeria to take up a leadership role on the continent and Nigeria has forged a foreign policy with a strong Afrocentric posture. In fact, its stance is very frenetic. Nigeria's involvement in this current role has been so strong that it has begun to pay even less and less attention to the home front. What is this Nigeria's leadership role in Africa? Nigeria's leadership role on the continent is the product of the vision and dreams and sometimes whims of the founding fathers. They were the true pioneers who first premised on real national capacity. Jojewatchekwa, Nigeria's first external affairs minister who noted in 1960. Our country is the largest single unit in Africa. We are not going to abdicate the position which God Almighty has placed us. The whole black continent is looking up to this country to liberate it from its throne. This very statement would define Nigeria's behavior and continental outlook. It has continued to influence successive administrations irrespective of political views. Nigeria's colonial experience and its abundance of natural resources and wealth have put it in a prime position to pursue an ambitious foreign policy. It also permitted Nigeria to finance its civil war, strengthening its international independence. For example, oil made possible in unparalleled post-war recovery. Nigeria has enjoyed the splendor of leadership and has led to so many African initiatives and ventures, like the work it did with a host of other countries who came together to form the economic community of West African states or ECHOES in 1975. Nigeria also made a vital contribution to the resolution of the devastating conflict that engulfed Liberia and Sierra Leone, as well as a host of other neighboring countries in 1992. The ECHOES, the monitoring group initiated by Nigeria, has attracted numerous accolades by many independent and international observers for the sterling job the group continues to do on the continent. It has now become a model to emulate for its operational efficiency and for giving regional actors pride as it continues to resolve issues plaguing the sub-region. Nigeria has not wasted any effort at making sure that democratic governments were restored to Guinea-Bissau, Ivory Coast and South Tomay and Prince Epay, after the military takeovers in those countries. Nigeria has spent over $10 billion in peace campaigns and also lost a lot of soldiers in the process. Nigeria's role in other countries out of the West African zone cannot be understated. Countries like Burundi, Symbabui, the Republic of the Congo, as well as Ethiopia and Eritrea undoubtedly own Nigeria a debt of gratitude. Nigeria even played a surprising interventional role in the apartheid in southern Africa, as well as supported the liberation movements on the continent. Now let us look at the shortcomings of Nigeria. Unfortunately however, Nigeria has been all too often caught up in many damaging practices like fraud, corruption, misappropriation of public funds, electoral malpractices, insurgency and terrorism have also devastated its moral fortitude and capacity to lead the continent. Also amidst enormous wealth, the poverty situation in Nigeria is dire as more than half of the population live in poverty. According to the world's poverty clock, Nigeria is said to exceed India as the world's poverty center. Most Nigerians have been reduced to the behest of the politicians who tie them to a gridlock of stomach infrastructure, a term that reflects the trend in institutionalized and structural poverty. Improvation has put the Nigerian citizens in a vulnerable and compromised position where the desperation for survival makes them sell their votes in conscience. Nigeria's global position, especially after the stringent effects of the COVID-19 seems to have shifted and we're seeing nations like Ghana trying to emulate what Nigeria has been doing for the past three decades. Why is Nigeria's position shifting? Nigeria has been relegated to the sidelines of international affairs and for Nigeria to be able to turn its fortune around. It has to revisit its roots. It must take stock of its own performance and capacities and reposition itself from within. If Nigerian leaders are increasingly determined to proper African solutions to their problems, then political structures and institutions must be reformed to reflect conditions suitable for sustainable development. Without a formidable political base, the economy will remain weak and fragile. The political base is crucial because the state is the repository of all ramifications and dimensions of power, political, economic, technological, and military. And the purpose of the state is to authoritatively allocate these resources. There is also a need to empower people to mobilize their local resources and to use them for development. And, of course, public funds should not be concentrated in the hands of a few individuals who may be tempted to steal them. An accountable system is one in which money management has several checks. Oil wealth has been the country's nemesis, a curse that has promoted corruption and blatant bleeding of the economy. But it is declining in value and as a source of national revenue. Now is the time for Nigeria to make good its repeated and well-advertised intentions to diversify the economy. A emphasis on oil would open the door to smarter ideas about how to create wealth. It would also herald in getting rid of a great deal of the flamm of corruption, which has played such a central role in Nigeria's infrastructural decay, eroded its influence, and given it such a negative image. African leaders do not look towards Nigeria anymore for council, inspiration, and help. They think Nigeria has a lot on its plate already and needs help. The potential is still there for Nigeria to return to power, but it takes leadership to rebuild the auspicious atmosphere and to activate the country's potential, the two steps required to regain that invuable front line spot on the continent. With all that said, we can make the following conclusion. Nigeria is the largest economy in Africa, and it only makes a sense that Nigeria's actions have a direct consequence on the African economy. Nigeria is important in Africa lies in its past, and even though efforts can be made to curb the future impact Nigeria could have, it simply doesn't suffice the fact the giant is currently in slumber and Africa is growing with or without it. However, the extent of the growth can be heavily influenced by a stronger Nigerian economy with a high level of competence. And the fact still remains that despite Nigeria's many shortcomings, there simply isn't any other competitor on the scale of Nigeria in Africa. On the surface, it may not look that obvious, but the fact still stands, do your number crunching and take a look. This is what you are going to see. Nigeria is about one quarter of the continent's population. Her economy is one of the most developed in Africa and one of the fastest growing in the world. By UN classification, a middle-income economy with developed financial, communication, and transport sectors. She ranks 33 in the world in terms of GDP thanks to the surge in international oil prices during 2007 and 2008. Nigeria managed an annual GDP of $352.3 billion. The GDP per capita is $2,400. Nigeria is the United States largest trading partner in sub-Saharan Africa and supplies a fifth of its oil. It has the seventh largest trade surplus with the US than any country worldwide. Nigeria is currently the 50th largest export market for US goods and the 4th largest exporter of goods to the US. In recent years, she has acted as a stabilizing military power on the continent. Yes, Nigeria is very important to Africa. If you enjoyed watching this video, please don't forget to leave a like and also subscribe to our community of tourists so as not to miss out on any future updates. Thanks for watching and see you in our next video.