According to the report recapped by NIGERIA NEWS from Bloomberg, a multi-billion dollar American News Agency captioned that ” In his first term, President Muhammadu Buhari left too much undone. In his second, he needs to be bold.” published as at April 7, 2019, at around 5 pm. It was stated according to Bloomberg that over 1.4 billion people in the world lived in extreme poverty with either living below or above 1.90 dollars per day. It was reported further that the billion number rate in poverty fell to about 600 million in recent years. It was further connoted that Nigeria seized to benefit from the reduction in the poverty rate but the two Asia countries, China and India has remarkably experienced better growth.
It was further stated that a decade ago Nigeria had far fewer people in poverty compared to China or India but now it has double of China and India combined together by World Data Lab. It was further stated by United Nation that by 2050, Nigeria population could be double of its population as at present and drastically increase the poverty rate of the country.
It was reported that Buhari needs to give equal responsibility to revive the economy rather than being known for his absolute integrity and fighting for corruption. Buhari has continuously let the naira to disvalue and which was likened to be murder case of the currency.
It was painfully stated that ” The country also has the world’s second largest number of people suffering from HIV/AIDS, and faces huge burdens from tuberculosis, malaria and other diseases. Governance remains weak, corruption and crime rampant.”
It was clearly stated as follows by Bloomberg that:
“Nigeria’s young and fast-growing population is projected by the United Nations to double in size by 2050, making it the world’s third-biggest. Even assuming that the proportion of Nigerians living in extreme poverty stops rising as quickly as it has in recent years, it’s on course to remain extraordinarily high for the foreseeable future.
“Nigeria’s success or failure in confronting extreme poverty will be pivotal for the rest of Africa, too — partly because of its huge population but also because of its outsize influence over its neighbors.
“The government led by President Muhammadu Buhari, recently re-elected to a second and final four-year term, bears a grave responsibility. One wonders whether a politician known as “Baba Go Slow” is up to the task.
“His record over the last four years is discouraging. Economic growth has barely recovered following the 2014 crash in the price of oil, which remains Nigeria’s biggest export and source of government revenue.
“Per capita, gross domestic product is less than it was when he took office. Joblessness has more than tripled. Efforts to spur agriculture and other non-oil parts of the economy have failed. Foreign direct investment has fallen by more than half since 2010.”
After so much analysis about Nigeria dilemma, it was finally stated that:
The country that could be Africa’s dynamo is instead its biggest demographic time bomb. Before it’s too late, Baba Go Slow needs to hurry up.