Sunday, April 15, 2018 /05:20AM / Proshare Research
The fund was more concerned about selected issues which hinge more on qualitative variables and poverty; especially with growth largely timid had has failed to be inclusive.
The occurrence of further loosening in HDI due to widening income equality has become grimmer than ever before.
Especially for a country that loses 34.7% of HDI due to inequality, a frantic approach is needed. Moreover the fund over the years has tilted more towards a balanced growth approach where reforms should accommodate growth.
Fig 10: HDI loss due to Income Inequality
Key Findings· Rising inequality as per capital income diminishes
· Social economic mobility has greatly dwindled
· There is a need to reduce fiscal dominance, reduce political interference and ensure more policy certainty
· Nigeria is positioned to take advantage of the trade opening in Soya beans which it should leverage on.
· Improve the nations multilateral trade with other countries and in certain times sign trade agreements
· Even though remittance inflow to GDP is below par at 4% of GDP, this can still be used to reduce income inequality.
· There is a need for more spending in both public health and education which are inputs that positively affect human development