Listen to this young man explain the difference between a poor country and a rich country. It was Peter Obi who first explained the concept of capital formation to me in a way that made it easy to understand. As governor, he applied a similar approach by emphasizing savings... and prudent investment The purveyors of poverty and corruption muddled everything to look like saving was a terrible decision and investing in bond markets was a taboo. This young man explained in details again!show more

This was exactly what Peter Obi did with the monies he invested for Ndi Anambra in Eurobond and savings at the 3 banks The drunkards, who succeeded him frittered away the funds and pilled up debts The garrulous prof is now building a new airport , when the old one is underutilised Waste and waste ...

This generation of Nigerian politicians have spent the capital of the next generation of Nigeria. Peter Obi is the only hope for the next generation of Nigerians.

This guy explains it in such a way that even children will understand it. I heard the phrase "Capital Formation" for the first time from Peter Obi. He is way above his peers.

Corrupt lazy selfish men we have in power battled Ngozi Okonjo-Iweala and GEJ to a standstill on issue of savings. Till today they still grandstand on it but they all have savings in their personal life. They rather incure a generational government debt than save government money for future.

Look at Norway what they have done with their oil proceeds. WIth world's largest Wealth Fund, with assets exceeding US$2 trillion. Built from the country's oil and gas revenues.cure long-term financial stability and fund the welfare state for future generations.

Great video! Although I disagree with education not being an advantage for rich countries, because for the guy to build that net he had the education on how to build the net as an advantage. One of the major differences btw the rich and poor is education, which PO advocates.

I agree, but gulf nations have averagely poor education system compared to some Eastern Europes and Eastern Asia yet they rank significantly higher on economy. Yes while I agree that education is one of the most important factors in economic growth. However strictly on economic point of view using his analogy, you could see that those three guys didn’t get the “education”( one may argue that his skill is a byproduct of education). But strategy deployed by one is what triggered the economy.

You are correct. The gulf have the resources, poorly educated, yet they leveraged on the expertise of the west. Qatar and Saudi brought in the west as employees but still invested in their education and saved (as in the Saudi Sovereign Wealth Fund). We can see the difference now.

If anambra continued that savings they would be earning over 100 billion yearly in interest alone

Can this generation postpone consumption, save, investment for sake of Capital formation ? We're too self centered to do that. Peter Obi really did his part in Anambra State and we wished there was a system to continue that. It's well.

Okonjo-Iweala once said " Let us save. Let those who wants to drink champagne pay for it." Our political leaders forces us all to drink champagne and we're all paying for with them.

Will create awareness about Capital Formation in our coming Tech & Trade Summit here in Onitsha. We can start rebuilding this mindset in young people once again.

Few

This is exactly how economics should be taught.

Now unah done forget about the fish ooh Nobody asked the fish if they want to be caught for capital Boom just went ahead and started fishing not minding the opinion of the fish Thats capitalism

Walking into a store in the US, UK, Canada, Ireland with $50/£50/€50 & coming out with loads of bags of food items is not magic. It was basically capitalizing on agricultural production & strength.

Now I understand why Peter Obi keeps screaming consumption to production!

"Capital formation" is one of the most mythologized concepts in western economics. Capitalists conveniently leave out the fact that "Capital formation" is sustained by the plunder of other countries for their natural resources and the debt slavery of workers on behalf of Capital

Once you are from rich county, people trust and do business with you easily.

This is why Obi must be President. He understood how capital works.

Exactly what Obi kept crying about. We wouldn't have had issue of food insecurity and inflation in this country if all the vast lands in the North & other parts are used. If many of the people criticizing Obi travels to see developed countries they will understand

Singapore the perfect example

@PeterObi absolutely understands this concept and has the political will to implement reform policies.

Nice 👍

Productivity<-Tech<-Risk taking with fablabs, copying(not just buying tech. We can not perform without inability to build Tech. Just buying and using leave people as Qatar and other contries with virtual development [development based on saling ressources & buying )<-saving

That's why they keep more people poor, working for what to eat. Eradicate hunger in the land and people will produce effectively

@EkaObongP this may interest you

Renewed Hope is here.

That analogy has a lot of holes. Africa is not an island where people didn't invent anything. In fact, that world he described doesn't actually exist. There is no place in the world which is poor by lack of inovation You have 5% of the US population living below poverty lines

This was Very insightful

Very interesting

It’s not true. Is Education. America became rich because they educated themselves so much that they could identify opportunities and turned it to fortune. U can give capital to a dummy and he will blow it

Norway is the perfect example of this

Simple and great teaching & well understanding in short terms

This man here is definitely give a definition of china economy

Very valid!