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CBN Dep Gov Laments Nigeria’s Poverty Level

By on April 28, 2011

Deputy Governor, Operations of Central Bank of Nigeria (CBN), Mr. Tunde Lemo, has warned that if the level of poverty ravaging Nigeria today was not tackled, the country would become a failed state.

Lemo gave this warning on Monday at the inauguration and fund-raising of Alphamin Hope Foundation in Lagos.

He called for a concerted effort to reduce poverty in the country through education and job creation.

Lemo noted that regrettably, one out of every four Nigerians was unemployed and unless immediate action was taken to change this ugly situation the country would be heading for disaster.

“The crisis that followed the presidential election is a reflection of poverty and hopelessness in the land and if we don’t do something about it Nigeria may be heading towards a failed state. We should give hope to those who are disadvantaged.”

The Alphamin Hope Foundation is meant to open vocational school for the training of youths in different crafts and studies with the aim of being self-employed and economically empowered when they finished the training.

Lemo therefore noted that well-meaning individuals who gained from the well- organised school system and scholarships in the past should make concerted efforts in rejuvenating the country from its present morass by contributing to develop the youths.

He also remarked that about 70 per cent of the nation’s population was under the age of 30 years and quoted the warning by the British Council, which observed that unless the bulk of this population was engaged in meaning economic activities there would be looming disaster in the country.

“We need to empower these youths so that they will in turn empower our society. Each and every one of us can do something to improve this country. We should do something and create jobs for the teeming population of youths who are today unemployed. Huge population is good when it is viable, but it becomes dangerous when a high percentage of that population is unemployed.”

Lemo said the lives of those children who are better off today may be infringed upon if their counterpart was in penury and dislocated through bad influence and violation of peace which is necessary for a well-organised society.

He lamented that the quality of education in Nigeria had degenerated, urging the fortunate few to invest in education to improve the quality.

He called on the private sector to make immense contributions to develop the society at a time, the “government seems to have abdicated some of its responsibilities.”

Source : Thisday