54 million Nigerians poor, unemployed –BudgIT

BudgIT, on Monday, released its report on Nigeria’s economic challenges titled ‘Investing in People’.

It recommended 6 broad goals with 18 priority actions that would effectively end poverty, improve health, advance education, reduce inequality and spur economic growth.

The goals cover demography and population, health, education, access to capital and the macroeconomy.

The report said the opacity around public financing and low investments in critical sectors has produced weak institutions and opportunities for corruption at both the national and subnational levels.

BudgIT decried that 60 years since independence, Nigeria’s pathway to economic prosperity is yet unclear.

The report said out of an estimated population of 200 million people, 13.9 million unemployed youths, and over 40 million Nigerians live below the poverty line.

BudgIT called for implementation of strategies that will raise higher revenues and leverage Nigeria’s human capital for wealth.

These include institutional reforms, equal access to loans advanced by banks, strong civic space for citizens inclusion and an effective micro economic environment.

‘’The numbers are currently looking grim. Nigeria’s teeming population would not confer any advantage if the population is not converted to human capital”, said Oluseun Onigbinde, Co-founder and Director of BudgIT

Credit: dailypost.ng

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