General

UN rank Nigeria economy poorest among unequals.

This was contained in a report read during a consultative meeting on the formulation of the UN Development Assistance Framework IV for the South East geo-political zone in Awka the Anambra State capital.

The UN report says Poverty and hunger have remained high in rural areas, remote communities and among female headed households.

It discloses that the development cuts across the six geo-political zones, with prevalence ranging from approximately forty nine point nine percent in the South West to seventy four point three percent in North West and North East.

On unemployment, the report states that Youth unemployment which is at forty two percent in 2016 has continued to create helplessness and despair resulting into upsurge in crime and terrorism.

It notes that over ten million Nigerian children of school age are out of school with no knowledge or skills.

The report also estimates Nigeria’s revenue to have fallen as much as thirty three percent, which it says resulted in the contraction of the Gross Domestic Product in the first quarter of 2016.

It further notes that  the country’s economic problems is as a result of lack of good governance, while also condemning what it calls the division of Nigeria along ethnic lines.

It recommended that Nigeria should adopt a radical and new approach to achieve a transformation, by investing in people and in a more dynamic and inclusive productive informal sector.

WRT-UP/CI

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