According to the prediction, Nigeria probably has the highest number of poor people globally and remain the “global poverty capital in 2050,”
Nextier in partnership with the International Institute for Security Studies (ISS) held a two-day development discourse titled “Nigeria in 2050: Major Player in Global Economy or Poverty Capital,” recently sponsored by the Canadian Fund for local initiatives.
Using the International Futures Modelling Platform, the report’s authors, Yeboua Kouassi and Jackie Cillers, modelled what Nigeria would look like in 2050, given her current policy and environmental conditions.
However, the report discussed an integrated set of interventions across different sectors that could propel Nigeria to prosperity.
The discourse was held in two formats: a public webinar and a high-level policy round table. At both events, senior officials from the government, academia, private sector and international development organisations explored policy interventions to address Nigeria’s socio-economic and political challenges.
Participants deliberated on why Nigeria has failed to implement development plans successfully and to achieve sustained impact.
They explored choices and practical interventions that the current and incoming government must employ to reverse Nigeria’s downward trajectory and shape a better future.
Speaking at the round table event, the Canadian high commissioner, James Christoff, expressed optimism that Nigeria could make progress given the drive and talent of Nigeria’s young population.
He reiterated Canada’s commitment to supporting Nigeria towards achieving its development goals.
The Nigeria in 2050 report identified that Nigeria has made some socio-economic progress but still faces severe social, economic and security challenges, adding that the nation has one of the highest poverty rates in the world, given that more than eighty million Nigerians live in extreme poverty.
The group further noted that Nigeria fared poorly on health, nutrition and education indices, as shown by its low ranking of 161 out of 189 countries on the United Nations Human Development Index.
The region faces increasing instability from security challenges such as the high occurrences of banditry, kidnapping, farmer-herder crises, communal clashes and terrorism, he said.
The authors identified Nigeria’s leadership failure, weak institutions and policy missteps as one of the reasons for Nigeria’s inability to achieve its potential.
