Senegalese-American singer and entrepreneur Akon has weighed in on why Lagos has yet to become a global financial hub, pointing to Nigeria’s historical economic decisions.
In a video shared on Instagram on Tuesday, the 52-year-old blamed the Nigerian government for missing opportunities that could have transformed the country’s economy. Akon suggested that if Nigeria had retained all of its oil revenues since independence in 1960, it could have amassed trillions of dollars.
He argued that with such wealth, Lagos might rival London and New York as a financial capital. Nigerian universities could have become global leaders in innovation, producing the next generation of tech pioneers, while Nollywood could have outpaced Hollywood in entertainment influence. He also suggested that Nigerian passports might be more powerful than American ones, attracting talent and reversing the continent’s historical brain drain.
Akon said: “If Africa controlled its own resources, the world’s economic and power structures would be entirely different. One decision in 1960 could have reshaped everything.”
In his post, he added that despite past missteps, “the possibilities are endless. But it’s never too late.”
About The Author
