Apparently, President Buhari invited Bill Gates
to the Villa thinking Mr. Gates would praise him, but instead he got the shock
of his life when his guest criticized his handling of the economy, saying it
does not reflect the needs of Nigerians and described Nigeria as “one of the
most dangerous places in the world to give birth.
The present economic templates being used by the Muhammadu
Buhari government do not have the ability to address the unique needs of
Nigerians at present, American business magnate, Bill Gates, has said.
The philanthropist and
founder of Microsoft corporation however said Nigeria has the ability to
approach ‘upper middle-income status’ like Brazil, China and Mexico, but added
that achieving this status depends on ”the choice Nigerian leaders make”.
Mr. Gates, at the special and
expanded National Economic Council, held in Abuja on Thursday tasked Nigerian
leaders to sincerely invest in not just infrastructural development but also
human investment.
The theme of the meeting was
“Role of human capital investment in supporting pro-poor and economic growth
agenda”.
The investor said though
Nigeria is rapidly approaching upper- middle income status, the country has
”unmatched economic potential and what becomes of that potential depends on the
choice Nigerian leaders makes”.
He said the Nigerian
government’s Economic Recovery and Growth Plan (ERGP) identifies “investing in
our people” as one of three “strategic objectives”.
But the “execution
priorities” do not fully reflect people’s needs, ”prioritising physical capital
over human capital”, he said.
“To anchor the economy over
the long term, investments in infrastructure and competitiveness must go hand
in hand with investment 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,” he said.
President Muhammadu Buhari on
assumption of office had unveiled a four-year ERGP (2017-2020) to help propel
the country towards the path of development and growth.
ERGP is an economic plan that
builds on the 2016 Strategic Implementation Plan (SIP), a short term plan aimed
at tackling corruption, improving security and rebuilding the nation’s economy.
ERGP seeks to build on the SIP by restoring growth, investing in
people and build a global competitive economy.
Mr. Gates said the most
important choice Nigerian leaders can make is ”to maximise the country’s
greatest resource, which is the people”.
He said Nigeria will thrive
when every Nigerian is able to thrive.
“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,” he said.
According to author,
Nigeria’s government revenue as a percentage of its GDP is by far the lowest in
the world, at 6 per cent and this makes the government investment in Nigerians
difficult.
“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.
“We want to support you in
your work to mobilise resources to invest in your country and I urge you to
rethink your investment on Nigerian people,” he said.
Speaking, Nigerian
billionaire business man, Aliko Dangote said for the next generation to thrive
as adults and drive the economic progress, ”the government need to invest in
their health and wellbeing”.
“The government need to
invest in the youth’s ability to learn and apply new skills in an ever changing
global economy. That at its core, is what we mean by human capital; healthy and
productive and well-educated young people who are then enabled to succeed, lift
up themselves and their families, and contribute to the society through their
own ingenuity.
“As a business leader, it is my responsibility to offer job opportunity,
but I can only do that when the people themselves are healthy and have the
basic skills,” he added.
Comments
Post a Comment