Reacting to the figures, experts have urged the federal government to establish skills acquisition centres for citizens to acquire skills that earn them sustainable income as cash distribution would not solve the problems of poverty. A population expert and National Coordinator of Rotary Action Group for Reproductive Maternal and Child Health (RMCH), Prof. Emmanuel Lufadeju, skills like farming, tailoring among other professionals would empower citizens.
“The government should also liberalise soft loans for SMEs. These people that we say are poor, can’t they do construction of roads under an engineering expert, build housing estates and drainages and they should be paid? It is better to get people engaged in work and pay them, not to just distribute money and say you are alleviating poverty,” he said.
A development expert at the Centre for Fiscal transparency and Integrity Watch (CeFTIW), Mr Victor Agi, said the report is not surprising given all the failing economic indices; from the dwindling revenue, huge debt burden, to the pressure on the fiscal and monetary sides of the economy, with ordinary Nigerians at the receiving side of all of these negative indicators.
“At an inflation rate of 21.6%, households across the nation continue to find it difficult to feed, and access to healthcare and other basic necessities remain a mirage. So, it’s not surprising that the NBS has arrived at this figure in its report.
“For the economy, this means more pressure, especially going into an election year where the volume of commercial and economic activities will be largely affected as a result of the political activities,” he explained.
He stated that only productive cash will tackle the poverty level. “Well, it may be true that there would be more money in circulation, especially also given the recent monetary policy by the CBN, but when cash is not used to stimulate productive economic activities, we would continue to contend with inflation and devaluation of the naira,” he said.
He further called for the improvement of revenue generation “and ramp up our production sector and get more Nigerians to be productive.”
(Daily Trust)
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