To shed more light on the conversation, the first to speak at the said event was an academic doctor, and former Provost of a College of Education. While rich countries on their part are rich because they have figured out better policies and have successfully eliminated these failures.īut a recent incongruity on how to pull Nigeria out from the mud of unemployment/underdevelopment that ensued between two members of a panel (names withheld) during a discussion at an annual lecture in Asaba, the Delta state capital, did more than anything else to reveal that Daron Acemoglu and James Robinson’s proposition may have found a home in the country and the said hypothesis explicitly qualifies as Nigerian-specific. Speaking in absolute terms, Daron Acemoglu and James Robinson did not contain the Nigerian leadership arena in mind when they echoed a postulation tagged ‘Ignorance Hypothesis ‘in the subsection of the second chapter of their book Why Nation Fail. A postulation which very broadly ‘maintained that poor countries are poor because their leadership unknowingly adopts bad economic policies, and ‘enjoys’ a lot of market failures and because policymakers do not know how to get rid of them and have heeded the wrong advice in the past.
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