Co founder of Bill and Melinda Foundation, Mr. Bill Gates at the special and expanded National Economic Council, held in Abuja on Thursday 22/3/2018 made some suggestions that could help the country position properly in terms of growth.
Here are 7 points he made, we are sure you would find interesting.
1.Growth is inevitable, Nigeria has unmatched economic potentials, but what becomes of that potential depends on the choices you make as Nigeria leaders. –
2.The most important choice you can make is to maximize your greatest resource, the Nigerian people. Nigeria will thrive when every Nigerian is able to thrive.
3.If you invest in their health, education, and opportunities- the human capital we are talking about today, then they will lay the foundation for sustained prosperity. If you don’t, however, then it is very important to recognise that there will be a sharp limit on how much the country can grow.
4.More than half of rural Nigerian children can’t adequately read and write.” “The conclusion is inescapable, Nigeria’s economy tomorrow depends on improving its schools today.
5.Nigeria’s government revenue as a percentage of its GDP is by far the lowest in the world, the next lowest country, Bangladesh collects 10 per cent of its GDP. If you got yourself up to second to the last in the world, you would have an extra $18 billion to budget. Obviously, you are aiming higher, but it gives you some idea about the scale we are talking about.
6.Nigeria is one of the most dangerous places in the world to give birth with the fourth worst maternal mortality rate in the world ahead of only Sierra Leone, Central African Republic and Chad. One in three Nigerian children is chronically malnourished.
7.The Nigerian government’s Economic Recovery and Growth Plan identifies “investing in our people” as one of three “strategic objectives.” But the “execution priorities” don’t fully reflect people’s needs, prioritizing physical capital over human capital.
8.To anchor the economy over the long term, investments in infrastructure and competitiveness must go hand in hand with investments in people. People without roads, ports, and factories can’t flourish. And roads, ports and factories without skilled workers to build and manage them can’t sustain an economy.