Obasanjo Questions Nigeria’s GDP Growth

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Obasanjo Questions Nigeria’s GDP Growth

Saturday, 30 June 2012

Former President Olusegun Obasanjo, on Friday, questioned the growth of Nigeria’s Gross Domestic Product (GDP), saying it was not realistic, given the level of poverty in the country.

Speaking at the 40th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN), he also described the country as a toddler in industrialisation.
“If in 2004, the percentage of poor people in Nigeria was 54 per cent, in 2011 it was 38 per cent, now it is 69 per cent and yet, we say the GDP growth is increasing. It means something is very wrong.

“There is no doubt that poverty is still on the increase. Vision 20:2020 will be a hopeless issue with the rate of poverty in the land. GDP growth is important, but not enough

“We are not yet there and in fact, we are far from getting there. We are still an infant, and an infant must be taken care of, pampered and nurtured before he can stand,” he said.

Obasanjo urged the government to continue to support backward integration, adding that what happened in the cement sector could be achieved in other sectors of the economy.

He stressed the need for manufacturers to continue to support the Federal Government.

President Goodluck Jonathan, who was represented by the Minister of State for Trade and Investment, Dr Samuel Ortom, charged the manufacturers to be committed to the growth and development of the economy.

He said: “On the part of government, we are working towards an actionable industrial policy and a robust industrial revolution action plan, tailored along sector specific lines, in order to provide special incentives to each subgroup in the manufacturing sector, with special emphasis in areas where we possess comparative and competitive advantage.

“As soon as the policy is in place, you will see the industrial revolution, which you desire, and I want to assure you that government will continue to support the manufacturing sector.

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Nigeria Jega-Jega
written by Prieye, June 30, 2012

Baba Iyabo, Ebora Owu, Just dey talk dey go. I dey laugh

corupted growth. that is griowth without development
written by demola adebayo, June 30, 2012

The growth th authorities decieve us with is arrived at by manipulating statistics. Real growth and development is calculated by high employment rate and the improvement in THE-WELBEING OF THE POPULACE. This can not be achieved with the high level corruption. For as long as the highest contributors tto our presidents campaign fund many of who have been identified as looters by National Assembly Fuel SUBSIDY THIEVES and confirmed by The Presidential Task Force remain as leaders and advisers on economy.The president the most highly educated any president anywhere can have, MUST demonstration his abohortion to corruption by sacking or persuading the minister for petroleum to resign and quickly reviewing the report of Fuel Subsidy report by Ntiona Assembly and Prssidential Taskforce, recovering stlen funds, banning culprits from government supported businesses and prosecution for forfieture os assets and imprisonment. All of us in Niogeria have religious,social economic cultural responsibility to rise up on continouos peaceful protests not to bring down the government, but to persuade the government to tackle corruptionh. This is part of our democratic rights

With a Phd holder like Jonathan......
written by Rasheed Abimbola Ahmed, July 01, 2012

----- I do not need an education. Yes, I am better off remaining an illiterate if the quality of education that I will receive with my Phd qualification is what Mr. Jonathan possesses.
Many an illiterate are not handicapped by reason of their inability to read or write and what they lack in literacy they made up in other areas of human intelligence.