Good Leadership Not Money Grows the Economy of a Country

“Men make history and not the other way around. In periods where there is no leadership, society stands still. Progress occurs when courageous, skillful leaders seize the opportunity to change things for the better. ” – Harry S. Truman

Most countries’ economy turned for the better kudos to good leadership and not money. There are quite a number of countries rich in diverse mineral resources yet the people are leaving in abject poverty and the government is crying foul stating paucity of fund as excuse for underdevelopment and cannot even take care of its citizens while few individuals in the government are enriching themselves to the extent that an individual’s wealth could match the wealth of many states in such countries.

There are also few emirates and countries like Singapore, Japan, Dubai etc whose leaders transformed their economy through good leadership, dedication, accountability, honesty and being committed to the plights of the citizen.

good leadership grows economy not money

credit: ColleenSharen

Let’s analyze DUBAI and how its leaders transformed it into a real estate, tourist and shopping hub for the world. A tiny emirate in the Middle East. Although Dubai was built on the back of oil industry and has suffered a real estate slump in recent years, unlike its sister emirate, Abi Dhabi, Dubai accounted for and still accounts for an insignificant proportion of the oil and gas wealth that occurs to the United Arab Emirates.

According to Wikipedia, it is estimated that Dubai produces 50,000 – 70,000 barrels of crude oil a day possibly the same quantity produced by states like Abia and Ondo in Nigeria and substantial qualities of gas from offshore fields.

Dubai’s oil reserve has diminished considerably and is expected to run out in two decades. However, its visionary and rather ambitious leader, Sheikh Mohammed Bin Rashid Al Maktohm (from 1948) used revenue from trading activities to build infrastructures. He was creative enough to diversify the emirate’s economic base, such that trade, real estate, construction, financial services and the tourism sectors are the largest contributors to its economy, not oil and gas which account for around 5% of its revenue.

A leader without a vision ends up crumbling the economy of her country. – Francis Nwokike

Where there is no vision, the people perish. – Proverbs 29:18

What that boils down to is leadership and the choices that it makes.

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    Francis Nwokike

    Francis is a Passionate Social Entrepreneur. Love discussing new trends in Business and Marketing. A Startup consultant. A good listener. Love to help that your business grow.

    2 Responses

    1. Miracle Felix says:

      Nice article Francis. Thanks for sharing.

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