As of 2014 Nigeria was classified as Africa’s largest economy
after it rebased its gross domestic product, GDP; Africa’s most populous
country, Africa’s largest democracy, and a major exporter of oil and gas. But
Nigeria is currently facing development challenges, which it must overcome to
fulfil its significant potentials. The statistics are however not very
encouraging and it has become imperative that the people in control of the
government and economy be told the truth.
Today at least 33 per cent of Nigerians live in extreme poverty.
Between 2018 and March 2022 Nigeria led the rest of the world, surpassing China
and India with much higher populations, as the country with the highest number
of people living in extreme poverty. Already, Nigeria has the highest number of
out-of-school children and those Nigerian children who do attend school have
learning outcomes that are among the worst in the world (ten and a half million
Nigerian youngsters, mostly girls, are not in school; 98 percent of those out
of school are in Nigeria’s poorer North region).
Health statistics are equally not encouraging. Nigeria has the
world’s second-highest number of persons living with HIV/AIDS after South
Africa. Maternal deaths during childbirth among Nigerian women are alarmingly
high. While Nigerian women make up just one per cent of the world’s population,
they account for 13 per cent of the world’s maternal mortality(only 38 percent
of pregnant women are assisted by a slated birth attendant during delivery with
just 12 per cent in North-Western Nigeria).
Similarly, Nigeria accounts for approximately 13 per cent of
global child deaths and one-third of all malaria deaths worldwide (42 per cent
of Nigerians have malaria). Nigeria has more tuberculosis cases than any
country in Africa.
Nigeria used to be the breadbasket of West Africa but has become
a net food-importer due to the neglect of the agriculture sector since the
discovery of oil in the 1970s. Nigeria spends $11 billion annually to import
wheat, rice, sugar and fish. Underinvestment in agriculture and rural
development more generally has contributed to widespread chronic malnutrition.
The story of decline in the agriculture sector is repeated across the economy
where almost every productive sector has seen disinvestment and a loss of
quality jobs.
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