An Economist, Prof. Segun Ajibola, has advised the Federal Government to improve on the Human Development Index (HDI) ranking of the country and also focus on infrastructural development.
Ajibola gave the advice on Tuesday in Abuja.He said the Government of President Muhammadu Buhari should raise HDI of Nigerians in the next four years through economic empowerment of the people.
“Also, by paying more attention to security of lives and property, fight crimes such as kidnappings, herdsmen/farmers clashes.’’
Nigeria’s HDI value for 2017 was 0.532- which put the country in the low human development category; positioning it at 157 out of 189 UN members – UN 2017 HDI report.
The HDI is a summary measure for assessing progress in three basic dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living.
Knowledge level is measured by many years of education among the adult population and standard of living is measured by Gross National Income (GNI) per capita.
Meanwhile, a long and healthy life is measured by life expectancy at birth.
In addition, Ajibola said the government should evolve inclusive policies that would draw the best out of all economic agents of the country.
Ajibola, a former President of the Chartered Institute of Bankers of Nigeria, said that the government should also encourage policies that would attract both portfolio investment and foreign direct investment into the country.
“It is incumbent on the government to strengthen the value of the Naira, which is still a stronger currency domestically, generate employment opportunities to reduce the currently too high economic dependency ratio.
“The government should promote accountability at all levels of governance and leave behind legacies of strong institutions after this four-year tenure,’’ he said.
