Thursday, May 03, 2018 /06:00 PM/ Proshare Research
In recent times, there has been an astronomical increase in drug abuse in the nation; more striking is that this prevailing epidemic is rooted in cheap drugs. It has thus become critical to raise awareness regarding the growing abuse of drugs spilling through the entire breath of the nation.
This April 2018 Edition of the Proshare confidential thus takes an in-depth study into the following:
· The Nature of Drugs Consumed
· The Factors responsible for the Drug Epidemic
· The Supply Chain of the Drug Epidemic
· The Growing Effect on Productivity and Revenue
The present drug abuse is not entirely a product of leisure like those witnessed in Thailand, Indonesia and Malaysia. Rather, it is deeply spurred by the existing dis-connect between government developmental policies and the social well- being of the citizenry. For instance years of growing primary school dropout and falling gross secondary school enrolment has left youths vulnerable to drug abuse. Therefore, it is not surprising to see that sub-nationals with high out of school kids are hot beds for drug abuse. This further reaffirms the position that the neglect of primary education is having a spiraling effect on the social fabric of the populace and the cost is huge.
The presence of lack of child rights have left kids especially boys below 14 (fourteen) years exposed to such menace. In addition, weak institutions have rubbed negatively on law enforcement and ethical compliance and have further lead to easy accessibility to drugs.
According to Oxfam’s Report, States with relatively high poverty rate are more vulnerable to the drug epidemic compared to others; as the prevailing economic reality of rising youth unemployment and growing misery index indirectly fuels this clime of drug abuse. However, in more urban areas pop culture and the rising use of social media has bolstered peer groups allowing drug abuse to be more prevalent, especially to drugs like Hashish, Benzoin and Codeine.
The growing cost of this epidemic is the rise in crime, erosion in human capital and growing labor incarceration. Obviously, this is detrimental to the productivity of the nation; and the production possibility of states where there is an inherent low labour force fused with high rate of rehabilitation is already dampened.
Moving forward, there is a need to strengthen regulation and bolster institution. Strengthen collaboration among several agencies such as National Agency for Food and Drug Administration and Control (NAFDAC) and the National Drug and Law Enforcement Agency (NDLEA), while ensuring that children rights are respected, primary school dropout is reduced and gross secondary school enrolment is improved.
There is also a growing need to deepen the root of developmental policies such that it widens social opportunities and reduce unemployment. In addition, it has become necessary for government to improve drug policies such that it reduces drug abuse and ensure more accountability.
While considering this epidemic, this edition of the Proshare Confidential also takes a cursory review into the global economy, with special focus on the first quarter 2018 American National Account since it clearly points out that the surge in private investment is largely responsible growth witnessed in productivity. Though, policy tradeoffs largely in support of reducing trade deficit, robust growth and tight labor force is causing jilters with regards to possible inflation deviation.
In all, the April 2018 Proshare Confidential Report is part of our enlightenment initiative to keep the Nigerian Populace and key stakeholders aware of development issues affecting our economy.
Previous Proshare Confidential Report (s)
1. Judging IMF’s Position on Development Indices – Mar 2018
2. Money Market: The Folk Road – Feb 2018
6. States and the Rising Weight of Debt – Oct 2017
7. Money Supply: Reeling from Policy Response – Sep 2017
11. Article IV vs. ERGP - The Third Way – May 2017
12. Lifting The Veil off The Financial Sector – Apr 2017