• Nigeria’s debt exceeds 50% of GDP amid economic stagnation
• Foundation invests $2.8b in 20 years

The co-chair of the Bill and Melinda Gates Foundation, Bill Gates, has called on the Federal Government to do more for the people, arguing that the country spends less per capita on its people than other African countries with a fraction of its wealth.

According to him, Nigerians are struggling, incomes have fallen, prices have soared, and like in many other countries, people are protesting.

Acknowledging the challenges of the country, he noted that with limited resources, the key is putting the available funds to the best possible use. ­­

He also noted that the Gates Foundation has invested over $2.8 billion in Nigeria in the past 20 years, which is the foundation’s largest commitment in all of Africa.

Gates, who stated this while addressing the National Economic Council presided over by Vice President Kashim Shettima at the Presidential Villa yesterday, in Abuja, observed that while Nigeria’s revenue-to-GDP ratio has grown, it’s still lower than what it was 15 years ago.

He said: “To be known as a friend to Nigeria is a great honour. But being a friend means telling the truth, even when it is difficult. That’s what I aimed to do six years ago when I shared my thoughts with the NEC about the urgent need to invest in Nigeria’s greatest resource, its people.

“I said then that I will always bet on the incredible potential of the Nigerian people. And that’s still true today. But the world has changed a lot in those six years. Nigeria’s economic leaders have done some difficult, but necessary things, like unifying the exchange rate. The next great hurdle is raising revenue.

“Taxes are never popular. That’s true in America too. But they’re part of a social compact. People are more likely to pay them when they see the government spending that money to give Nigerians a better life. That’s what I want to speak about today. Because there are so many Nigerian leaders committed to investing in your people. So, there are many promising solutions in the pipeline.”

Gates noted that President Bola Tinubu’s ‘Renewed Hope’ agenda is ambitious, adding that the President has assembled a cabinet ready to meet the challenge.

“If citizens want the education and the health things, as they develop the confidence that these programmes can be very well run, and our foundation is involved with a lot of the exemplars that are showing the way in terms of making sure the money is spent really well, running a very efficient primary health care system where the employees are doing great work, the centres are where they should be, you don’t have underloaded centres or overloaded centres,” the billionaire said.

The philanthropist said for citizens to trust the government’s ability to deliver quality healthcare, there must be a commitment to effective management of health programme funds.

Gates underscored the importance of running an efficient primary healthcare system with well-placed and adequately staffed centres.

Gates also expressed optimism about Nigeria’s potential to significantly boost its agricultural output, suggesting that the country could transition from a net food importer to a major food exporter.

He highlighted the need for improved credit facilities, comprehensive soil surveys, and effective advisory services for farmers as key factors in achieving this transformation.

He said, “Nigeria today is a net food importer and yet, given the geography, if the right credit facilities and advice to farmers, soil surveys, things are available, there is the opportunity for Nigeria to do more than double its food output, which would be pretty transformative, because it would mean that you would be a net food exporter.”