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Growing inequality causing unrest, Buhari insists

By Terhemba Daka, Abuja
27 October 2021   |   4:10 am
President Muhammadu Buhari, yesterday, attributed growing social unrest to inequalities and unfair policies that exclude majority from opportunities for participation, calling on world leaders and global investors to prioritise inclusive and humane policies.

Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Mele Kyari (left); Chairman/CEO, BUA Group, Abdul Samad Rabiu; Minister of State for Petroleum, Timipre Sylva; President, Dangote Group, Alhaji Aliko Dangote; President, Muhammadu Buhari; Minister of Communications, Isa Ali Pantami; Governor, Central Bank of Nigeria, Godwin Emefiele and others at the Future Investment Initiative Institute Summit at King Abdulaziz International Conference Centre, Riyadh in Saudi Arabia…yesterday.

President Muhammadu Buhari, yesterday, attributed growing social unrest to inequalities and unfair policies that exclude majority from opportunities for participation, calling on world leaders and global investors to prioritise inclusive and humane policies.

Addressing the fifth Future Investment Initiative Summit in Riyadh, Saudi Arabia, the Nigerian leader said his administration would encourage public and private initiatives that increase investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change and food security.

His words: “By so doing, it will go a long way in reenergising the global economy in a post COVID-19 era.

“Nigeria is Africa’s largest economy and most populous nation. Our economic reforms, which focus on ‘humane’ investments, are ideal for investors looking to have profitable returns, while positively impacting the citizenry.

“Your excellences, distinguished ladies and gentlemen, Investing in humanity is the right thing to do. I strongly believe the history of under-investment in ‘humane projects’ is the genesis of most of the insecurity and socio-economic challenges the world is experiencing today.”

On the theme of the summit, Investing in Humanity, the President said the Nigerian perspective remains a focus on people-oriented development policies, with diversification from oil to more inclusive sectors such as agriculture, ICT and mining, tackling of corruption, insecurity, climate change and introduction of social investment programmes.

He continued: “Investing in humanity is investing in our collective survival. This is why we in Nigeria believe that public and private partnership should focus on increasing investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change and food security.

By so doing, it will go a long way in reenergising the global economy in a post COVID-19 era.

“Nigeria’s population today exceeds 200 million people. Some 70 per cent are under 35 years old. When we came into government in 2015, we were quick to realise that long-term peace and stability of our country is dependent on having inclusive and humane policies.”