Nigeria’s revenue-to-GDP ratio lowest, private sector choking – World Bank - Punch Newspapers

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Nigeria’s revenue-to-GDP ratio lowest, private sector choking – World Bank - Punch Newspapers
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PublishedNigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in the world, the World Bank said on Monday.

“In Nigeria, I think the basic economic agenda is about diversification away from oil because oil has really been like resource curse for Nigeria on multiple dimensions,” he said. “Despite all of that, Nigeria is still the largest economy in Africa. So, just think about the potential that Nigeria has because of its natural resources, but more than that, because of its dynamism and all of its population. Nigerians are more entrepreneurial by nature.

He said, “On this, Nigeria at the moment ranks sixth from the bottom in terms of the human capital index that we produce every year.

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