Saturday, May 14, 2016

Budget delay, oil slump’ll affect economic growth –UN

 The United Nations Development Programme says the delay in signing the 2016 budget coupled with the slump in the price of crude oil will negatively impact economic growth and development in Nigeria.

The Country Representative, Fatma Samoura, spoke at the launch of the National Human Development Report for Nigeria, 2016 on Friday in Abuja.
She said, “The launch of this report is taking place at a time of great challenges in the country. We have just witnessed an unprecedented delay although for very valid reason, in the final decision of the budget and the signing of the 2016 Appropriation Act. This juxtaposed with rapid decline in government revenues from oil and gas will undoubtedly negatively impact economic growth and development over the short run period.”

Speaking on the theme, “Human security and human development,” Samoura said unchecked poverty, persistent hunger, uncontrolled diseases, lack of access to basic services, disregard for human rights, sub-optimal response to natural and man-made disasters and unregulated natural resources exploitation, among others, continue to pose serious threats to human development.

The new NHDR report named South-East as the most human security secure geopolitical zone in Nigeria.

The report added that Abuja, which is the Federal Capital Territory, is the safest city to live in Nigeria as it ranks low in the human security index

The UNDP defined human security as safety from chronic threats such as hunger, disease and repression as well as protection from sudden and harmful disruptions in patterns of daily life whether in homes, jobs or communities.

The Economic Adviser, UNDP Nigeria, Mr. Ojijo Odhiambo, said at the launch of the report that the North-East and the North-West remained the most affected areas in Nigeria.

Also speaking at the launch, the Minister of Budget and National Planning, Udoma Udo Udoma, praised the UNDP for the effort in putting together detailed findings of the human development indices for Nigeria.

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