The Federal government of Nigeria and the World Bank last week in Abuja disagreed at the rate of development in the country. While the World Bank in a report, blamed the low level of development in the country on inconsistency in creation and implementation of economic policies, government faulted the World Bank report for what they called inconsistencies and banks inability to factor in recent changes that are being implemented by the Yar’Adua administration.

The report also showed that though growth rate has been on the increase in the last eight years, it has not been marched by productivity since the nation still has a negative employment. Index, an indication that the growth percentage is not felt by the populace. The officials sought to draw public attention to various policies of this administration which are yielding fruits, although at a gradual process.

The consensus, however, is that Nigeria’s attitude of changing policies with successive governments has been responsible for its low economic growth.

Senator Adamu Aliero, Minister of the Federal Territory, said the administration of the capital city was involved in job creations for its residents through mechanized farming.

Represented by the Dr Abdul Muktar, executive director of the Abuja Investment Company Limited, Aliero said the FCTA provides various facilities for the farmers like fertilizers, tractors, treated grains among others, to ensure higher yield at the harvest time.

Mr Onno Ruhl, country director of the World Bank in Nigeria, said contrary to wide beliefs, Nigeria’s greatest resources is its youth population, and not in oil resources. The potential of this human capital, Ruhl said, is however grossly under utilised pointing out that even though the growth rate being recorded by the country is a good thing, the fact that it is not matched by productivity downgrades its success. Other sectors of the Nigerian economy could become money spinners, if properly harnessed, he said.

“Growth is good, but without it creating jobs poverty remains. Before coming to Nigeria, I thought it was solely an oil economy, I did not know about Nollywood or that Nigeria was the world’s largest producer of cassava. I simply didn’t understand that Nigeria had this much potentials, but potential is not good enough if it is not harnessed”, he said.

Ruhl commended the vision 2020 proposal saying it has the potential to transform the nation if properly implemented adding that the World Bank is impressed with the contents of the document.