BUDGET HISTORIAN INSISTS NIGERIA IS POOR

A Budget Historian, Tunji Ogunyemi has
stated that Nigeria is extremely poor,
because most graduates do not have
the opportunities to showcase their
talents.
Referring to World’s Bank ratings, he
stated that, its normal for World Bank
to classify Nigeria amongst other poor
countries like Bangladesh, India, China,
they are “extremely populous” countries
of the world as having citizens leaving
below poverty level.
Speaking on Channels Television
breakfast programme, Sunrise Daily, Mr.
Ogunyemi noted that the oil economy is
an” enclave economy” which isolates the
ordinary Nigerian and also drives high,
“No Nigerian owns an oil well except for
the government”, he added.
He said “Nigeria has not been able to
achieve much through our budget
system because most of the resources
we have go on consumption”, adding
that at the federal level, about 30% of
the money gotten from votes, have gone
into creation of wealth or the
maintenance of infrastructure, “the
federal government cannot be doing all
and expect the lower level government
to have the responsibility and ability to
turn the situation around”.
Mr. Ogunyemi further criticized the
federal government for covering all the
fields in terms of assess, revenue, funds,
amongst others. In terms of job
creations, he noted that the government
should provide the necessary
infrastructures that will help the private
sector create jobs for the unemployed,
he maintained the fact that there has
been a disconnect between the private
sector and the public sector and advised
that both sectors should work together.
“Poverty can be reduced in the country
with the conscious effort of the
government creating jobs for the youth”
he noted.