Our advice to Nigeria caused problems in health, education sectors, World Bank confesses - Breaking News in Nigeria today 247 | TheWatchNGR

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Thursday, October 11, 2018

Our advice to Nigeria caused problems in health, education sectors, World Bank confesses


Our advice to Nigeria caused problems in health, education sectors, World Bank confesses



The World Bank says it “has to take some responsibility’’ for
advising Nigeria and other African countries to invest more in roads,
railways and energy rather than in education and health.




The World Bank President, Mr. Jim Yong Kim, made this known
while briefing the media after the launch of the 2018 Human Capital
Index, which ranked Nigeria 152nd out of 157 countries believed to be
committed to investing in human capital.




Kim briefed the media on Thursday at the ongoing International
Monetary Fund and World Bank Group Annual Meeting in Bali, Indonesia.




“We provide quite a bit of support for Nigeria in terms of health
budget. But we feel that the overall spending on health is just far too
low, 0.76 per cent of GDP.




“Also, the educational outcomes in Nigeria are very very poor.




“Nigeria is one of the most important countries not only in Africa,
but in the world and so we feel that it will be extremely important for
Nigeria to really go on a different level altogether in terms of their
commitment to investing in human capital.




“I think that the World Bank has to take some responsibility for
having emphasised hard on infrastructure, roads, rails, energy for a
very long time and I think that changed 20 years ago.




“But there is still then the bias that says we will invest in hard
infrastructure and then when we grow rich, we will have enough money to
invest in health and education.




“We are now saying that that’s really the wrong approach, that you’ve got to start investing in your people right now.’’




HCI seeks to raise awareness and increase demand for interventions to
build human capital and accelerate better and more investments in
people.




Kim said that through the International Development Association, the
World Bank had, since 2015 increased funding for Nigeria and other
African countries towards alleviating poverty.




The message here is that Heads of State and Ministers of Finance have to take responsibility.


“What has happened is in many African countries, if they don’t
receive grant-based financing, they just simply don’t spend on health
and education.




“So we hope that this is a loud wake-up call for leaders throughout the African continent and especially in Nigeria.”




According to the human capital index, children born in Nigeria stand
the chance of being 34 per cent as productive when they grow up as they
will be if they enjoy complete education and full health.




Children in Nigeria can expect to complete 8.2 years of pre- primary, primary and secondary school by age 18.




However, when years of schooling are adjusted for quality of
learning, this is only equivalent to 4.2 years, showing a learning gap
of 4 years.




The World Bank report on adult survival rate across Nigeria showed
that only 65 per cent of 15-year-olds would survive until 60 years of
age.




The News Agency of Nigeria reports that the 2018 Annual
Meetings of the IMF and WBG brings together experts to discuss issues of
global concern, including the World Economic Outlook, poverty
eradication, economic development and aid effectiveness.


(NAN)
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