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Growing Inequality Consumes All, As Nigeria Will be Home To 25 % Of the World’s Destitutes – WB Report

The Oasis Reporters

December 14, 2019

By Prince Cade Agbugba

I normally don’t use data or numbers because I’m in love with them, but because it is the most simplistic form for me to capture the fierce urgency of now.

(1) World Bank just released the long-awaited “2019 Nigeria Economic Update Report” and the core facts are scary;

(2) Nigeria will be home to 25 percent of the world’s destitute people if we don’t cut off the stupid political party lies preventing us from rolling up our sleeves together and fight the disease

(3) Taxing goods and service industry through VAT and border closure, to protect local agriculture which contributes only 19% of the GDP compared to goods and service industries that contributes 54% of the GDP is stupid and self-injurious

(4) Though, Nigeria accounts for nearly 20% of continental GDP and about 75% of the West Africa economy. Despite this dominance, its exports to the rest of Africa are estimated at 12.7%, and only 3.7% of total trade is within the Economic Community of West African States –

THE COMMITMENT TO
REDUCING INEQUALITY
INDEX

(5) Nigeria has occupied the last position among 152 nation three times in a row from 2016 to 2018 based on the following criteria ;

– Spending on health, education and social
– Progressive structure and the incidence of tax &
– Labour market policies to address inequality

Yes, we are killing Nigeria softly while we enjoy our primitive game of APC vs PDP, North vs South.

Greg Abolo

Blogger at The Oasis Reporters.

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