Saturday, November 7, 2015
Nigeria as a Welfare State
N1.25 Trillion is what you get when you multiply N5,000 by 25 million people. This is 15% of our proposed N8 Trillion 2016 budget. The US will spend 9.8% of her 2016 budget on welfare. They have a poverty rate of 15% of their population. This translates to a family of 3 living on less than $18, 550 per annum.
Nigeria has a poverty rate of 62% (based on other definitions), which supports a need for some kind of poverty alleviation or social welfare.
Implementing welfare systems depend on the availability of accurate data, and systems for monitoring, evaluation and control.
Statistics are very interesting. They put facts and figures to ideas. I know we have a president and VP who are interested in lifting the "very poor" out of poverty. From what I have heard them say, it is clear that they understand that investment in critical infrastructure, diversifying the economy, realigning educational direction and removing barriers to doing business will do more for poverty alleviation than any welfare scheme. They also understand urgency and the low hanging fruit theory.
Yet, a promise is sacred and integrity is a bankable asset.
But more important is making a decision to do only what is truly sustainable and being bold enough to engage your publics to sell your your decisions and gain alignment.
My bet is still on the FGN.