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Bill Gates Condemns Buhari’s Economic Blueprint …Says It Doesn’t Address Nigerians’ Needs …‘Nigeria, Most Dangerous Country To Give Birth’
The present economic templates being used by the Muhammadu Buhari government do not have the ability to address the unique needs of Nigerians at present, American business magnate, Bill Gates, has said.
The philanthropist and founder of Microsoft corporation however said Nigeria has the ability to approach ‘upper middle-income status’ like Brazil, China and Mexico, but added that achieving this status depends on “the choice Nigerian leaders make”.
Mr. Gates, at the special and expanded National Economic Council, held in Abuja,yesterday tasked Nigerian leaders to sincerely invest in not just infrastructural development but also human investment.
The theme of the meeting was “Role ofHuman Capital Investment in supporting Pro-poor and Economic Growth Agenda”.
The investor said though Nigeria is rapidly approaching upper- middle income status, the country has “unmatched economic potential and what becomes of that potential depends on the choice Nigerian leaders make”.
He said the Nigerian government’s Economic Recovery and Growth Plan (ERGP) identifies “investing in our people” as one of three “strategic objectives”.
But the “execution priorities” do not fully reflect people’s needs, “prioritising physical capital over human capital”, he said.
“To anchor the economy over the long term, investments in infrastructure and competitiveness must go hand in hand with investment in people. People without roads ports and factories can’t flourish. And roads, ports and factories without skilled workers to build and manage them can’t sustain an economy,” he said.
President Muhammadu Buhari on assumption of office had unveiled a four-year ERGP (2017-2020) to help propel the country towards the path of development and growth.
ERGP is an economic plan that builds on the 2016 Strategic Implementation Plan (SIP), a short term plan aimed at tackling corruption, improving security and rebuilding the nation’s economy.
ERGP seeks to build on the SIP by restoring growth, investing in people and build a global competitive economy.
Mr. Gates said the most important choice Nigerian leaders can make is “to maximise the country’s greatest resource, which is the people”.
He said Nigeria will thrive when every Nigerian is able to thrive.
“If you invest in their health, education, and opportunities- the human capital we are talking about today, then they will lay the foundation for sustained prosperity. If you don’t, however, then it is very important to recognise that there will be a sharp limit on how much the country can grow,” he said.
According to author, Nigeria’s government revenue as a percentage of its GDP is by far the lowest in the world, at 6 per cent and this makes the government investment in Nigerians difficult.
“The next lowest country, Bangladesh collects 10 per cent of its GDP. If you got yourself up to second to the last in the world, you would have an extra $18 billion to budget. Obviously, you are aiming higher, but it gives you some idea about the scale we are talking about.
“We want to support you in your work to mobilise resources to invest in your country and I urge you to rethink your investment on Nigerian people,” he said.
Speaking, Nigerian billionaire business man, Aliko Dangote said for the next generation to thrive as adults and drive the economic progress, “the government need to invest in their health and wellbeing”.
“The government need to invest in the youth’s ability to learn and apply new skills in an ever changing global economy. That at its core, is what we mean by human capital; healthy and productive and well-educated young people who are then enabled to succeed, lift up themselves and their families, and contribute to the society through their own ingenuity.
Meanwhile, Bill Gates, world second richest man, yesterday declared that Nigeria is one of the most dangerous places to give birth.
The Chairman of Bill and Melinda Foundation, said Nigeria has the fourth worst maternal mortality rate in the world behind Sierra Leone, Central African Republic and Chad.
He spoke at the Expanded National Economic Council, NEC, presided over by the Vice President, Yemi Osinbajo, in Abuja.
Gates disclosed that his foundation’s biggest office in Africa was in Nigeria where he had committed over $1.6 billion with the intention of increasing his commitment in the country.
He said, “The most important choice you can make is to maximize your greatest resource, the Nigerian people. Nigeria will thrive when every Nigerian is able to thrive.
“If you invest in their health, education and opportunities – the “human capital” we are talking about today – then they will lay the foundation for sustained prosperity. If you don’t, however, then it is very important to recognise that there will be a sharp limit on how much the country can grow.
“Nigeria is one of the most dangerous places in the world to give birth with the fourth worst maternal mortality rate in the world ahead of only Sierra Leone, Central African Republic and Chad. One in three Nigerian children is chronically malnourished.
“I urge you to apply this thinking to all your investments in your people. The Nigerian government’s Economic Recovery and Growth Plan identifies investing in our people as one of three strategic objectives.
“But the execution priorities don’t fully reflect people’s needs, prioritizing physical capital over human capital.
“To anchor the economy over the long term, investments in infrastructure and competitiveness must go hand in hand with investments in people.
“People without roads, ports, and factories can’t flourish. And roads, ports and factories without skilled workers to build and manage them can’t sustain an economy.”
The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ekwe Ibas, has assured the commitment of Rivers State government to workers’s welfare and industrial harmony in Rivers State.
The Sole Administrator gave the assurance after meeting with leadership of organized labour unions at the Government House, Port Harcourt on Wednesday.
Ibas reaffirmed government’s policy of prompt payment of salaries and pensions to workers and retirees, stating that all local government employees are not receiving the approved minimum wage.
He disclosed that approval has been given for payment of newly employed staff at Rivers State University Teaching Hospital and the Judiciary, while medical workers in Local Government Areas will now receive correct wages.
Ibas explained that, Government is reviewing implementation challenges of the Contributory Pension Scheme ahead of the July 2025 deadline, adding that Intervention buses have been reintroduced to ease workers’ transportation ,with plans to expand the fleet.
He said specialized leadership training for top civil servants will commence within two weeks, while due consideration is being given to implementing the N32,000 consequential adjustment for pensioners and clearing outstanding gratuities.
Ibas commended Rivers State workers for their dedication to service and called for sustained partnership with labour unions to maintain industrial peace.
“This administration recognizes workers as critical partners in development. We remain committed to addressing your legitimate concerns within available resources,” he stated.
The State NLC Chairman, Comrade Alex Agwanwor, thanked the Administrator for the steps taken so far with regard to workers welfare while appreciating his disposition towards alleviating the transportation problem faced by workers.
He also expressed appreciation for the government’s openness to dialogue and pledged continued cooperation towards achieving mutual goals.
The Rivers State Government assured all workers of its unwavering commitment to their welfare and called for continued dedication to service delivery for the collective progress of our dear State.
The Nigeria Labour Congress (NLC), Rivers Council, has called for policies that will improve the economic situation of the country in order to ensure enhanced living standard for workers.
The State Chairman, Mr Alex Agwanwor, made the remark on behalf of the unions affiliated to Labour Congress during the 2025 workers day celebration in Port Harcourt, yesterday.
Agwanwor highlighted the demands of the Unions which included the immediate payment of pension arrears, implementation of the N32,000 minimum wage for pensioners, and payment of gratuities and death benefits without further delay.
“We are calling for the regulation and protection of e-hailing drivers, implementation of increments and promotions, and resolution of long-standing issues in the polytechnic sector,” he said.
Agwanwor on behalf of the unions appealed to President Bola Tinubu to reinstate the democratically elected Governor, Deputy Governor, and members of the Rivers State House of Assembly.
He stressed the importance of democratic governance and good working relationship with elected representatives.
According to him, the unions expressed disappointment over the imposition of taxes, increase in electricity tariff, and high cost of goods and services, which have further worsened the plight of workers.
“We urge the federal government to take measures to alleviate the suffering of citizens,” he said.
Vice-President Kashim Shettima says President Bola Tinubu is committed to unlocking Nigeria’s full potential and position the country as a leading force on the African continent.
Shettima stated this when he hosted a delegation from the Hertie School of Governance, Berlin, led by its Senior Fellow, Dr Rolf Alter, at the Presidential Villa in Abuja last Wednesday.
He said Nigeria was actively seeking expertise from the global best institutions to enhance policy formulation and implementation, particularly in human capital development.
The Vice-President noted that President Tinubu was determined to elevate Nigeria to its rightful position as a leading force in Africa.
“The current crop of leadership in Nigeria under President Bola Ahmed Tinubu is ready and willing to unleash the full potential of the Nigerian nation on the African continent.
” We are laying the groundwork through strategic reforms, and at the heart of it, is human capital development.”
He described the Hertie School as a valuable partner in the journey.
According to him, Hertie School of Governance, Berlin, has track record and institutional knowledge to add value to our policy formulation and delivery, especially in this disruptive age.
Shettima reiterated the government’s priority on upskilling Nigerians, saying ” skills are very important, and with our Human Capital Development (HCD) 2.0 programme.
“We are in a position to unleash the full potential of the Nigerian people by enhancing their capital skills.”
The Vice-President acknowledged the vital support of international development partners in that effort.
” I want to thank the World Bank, the European Union, the Bill and Melinda Gates Foundation, and all our partners in that drive to add value to the Nigerian nation,” he maintained.
The Vice-President said human capital development was both an economic imperative and a social necessity.
Shettima assured the delegation of the government’s readiness to deepen cooperation.
” We need the skills and the capacity from your school. The world is now knowledge-driven.
“I wish to implore you to have a very warm and robust partnership with the government and people of Nigeria.”
Shettima further explained recent economic decisions of the government, including fuel subsidy removal and foreign exchange reforms.
“The removal of fuel subsidy, the unification of the exchange rate regime and the revolution in the energy sector are all painful processes, but at the end of the day, the Nigerian people will laugh last.
“President Tinubu is a very modern leader who is willing to take far-reaching, courageous decisions to reposition the Nigerian economy,” he added.
Earlier, Alter, congratulated the Tinubu administration for the successful launch and implementation of the Human Capital Development (HCD) strategy.
The group leader described the development as ambitious and targeted towards the improvement of the lives of the citizens.
He expressed satisfaction with the outcome of his engagements since arriving in the country.
He applauded the zeal, commitment, energy and goodwill observed among stakeholders in the implementation of Nigeria’s HCD programme.
Alter said the Hertie School of Governance would work closely with authorities in Nigeria across different levels to deliver programmes specifically designed to address the unique needs of the country.
He, however, stressed the need for government officials at different levels to be agile and amenable to the dynamics of the evolving world, particularly as Nigeria attempted to successfully accelerate its human capital development aspirations.