he Rostow model shows economic growth of a nation in five steps. Currently Nigeria is in the pre-conditions for take off stage, however with a fast growing economy and cleansing of internal problems, Nigeria is fast approaching the take off stage. Investments and savings are growing in the West African nation which is one of the characteristics of a nation that is in the take off stage. As Africapitalism promotes long term investments and creation of social wealth, Nigeria is well on track to reaching the take off stage as Africapitalism becomes more widespread. The economic theory of Africapitalism is sustainable to help Nigeria reach the level of mass consumption of which most Western nations have reached or are on the brink of reaching. Nigeria, applying Africapitalism to help propel economic growth, should set a good example for fellow African nations to also adopt the economic theory given the success it is proving in Nigeria at the moment.

Nigeria and the regional competitors

When compared to other Africapitalist nations, Nigeria thrives and struggles in some areas. Nigeria has outgrown all African nations to claim the highest GDP at 521.8 billion USD. This has been made possible by the flourishing private sector and the involvement of public sectors such oil and gas sectors, agriculture and others. Nigeria’s has had a rapidly increasing human development index when compared to the likes of its West African competitors such as Cameroon and Togo. However, Nigeria is still very far behind when compared to other countries on the continent. Having a literate nation is a basic component to reaching economic development however, this is one area where Nigeria struggles. Literacy rates in Nigeria clock at 59.6% of the whole population which makes the nation inferior when compared to the likes of Botswana and Kenya who clock at roughly 87%. Unemployment is another huge problem that Nigeria suffers from, with roughly 13.3% of the working population being unemployed. The most popular type of unemployment that Nigeria suffers from is frictional unemployment as majority of the population are either in the working age group or are below it, meaning that many graduates are still waiting to get a job or have skills not applicable to available jobs otherwise known as structural unemployment. The adoption of Africapitalism has promoted import substitution not only in Nigeria but in other African nations such as Ghana and Kenya, for example, and this gives Africans motivation to continue being innovative as their countrymen are supporting local produce. We have since seen a number of countries in Africa seeking to uplift the lives of their population by emulating Tony’s concept. For example, South Africa came up w