Thursday, August 20, 2020 / 08:59 AM / by BudgIT / Header Image Credit: Twitter; @BudgITng
According to the latest report by NBS, approximately 44.1 million Nigerians are either jobless or underemployed. Naira has lost 145% of its value since 2014 and Nigeria's economy is currently in a quagmire of economic challenges such as high inflation rate, illiteracy and poverty, among others.
The country currently has 200million estimated population, 13.9million unemployed youths, with just N300 million average investment in all tertiary institutions. 46 million Nigerians still practice open defecation, 70% of health expenses are paid from citizens' pockets while ONLY 3% of the population has health insurance. It is clear that Nigeria needs sectoral financing reforms, investment in human capital development, equal access to capital by citizens, as well as firm and ethical leadership to rethink its non-oil exports and invest in the country's local industry
In our investing people report, we recommended 6 broad goals and 18 priority actions that would effectively end hunger, improve health and education, reduce inequality and spur economic growth in critical sectors and the Nigerian economy as a whole.
Nigeria cannot continue to play weak in global competitiveness. The government needs to build inclusive growth by rebuilding its subnational economies and investing in strong institutions to deliver results to citizens.
I know you clamour for change and sustainable development. So kindly download this report, read it and join us in calling for the reforms this country really needs to move forward.