Bill Gates gave a speech to Nigeria as an Independent assessor/voice and he spoke on the Nigerian Economy.
Analysis of Bill Gates Speech
Nigeria has the lowest Government Revenue followed by Bangladesh. Nigeria has less than 10 Billion Dollars while Bangladesh has 18 Billion. The current Nigerian national income will not be able to get us loans and developmental assistance unless we create and spend our domestic income well.
Nigeria needs to focus on Health, Education and Agricultural Sector.
Professionals should live a life of integration. Don’t let your comfort zone be your limiting zone. The 5 areas Bill Gates talked about:
- Opportunities to people in Nigeria
- Food and Shelter
Things to note in life (Soft Skills)
- Always be Polite
- Always tell the truth
One and out of three children in Nigeria are malnourished. Without good nutrition, it’s difficult to receive good education. Our future is threatened because our nation doesn’t have good healthy children. Life expectancy in Nigeria is 53 years, in the US its 74 years and China is 72.
Nigeria has the 4th worst maternity rate leaving Chad and Sierra Leone better than us.
If a woman can plan the number of children she would have, those children are most likely going to be taken care of.
- 6% of GDP à TAX (VAIDS)
Case Scenarios in Business
- Best case scenario
- Normal case scenario
- Worst case scenario
Why the Nigerian Government Revenue is the Lowest?
- Cost of Governance created by corrupt people.
- To grow Nigeria has to reduce its recurring cost and cost of running the government.
- Increase revenue and domestic cash.
- Break the vicious cycle, do something else, trigger a virtuous cycle.
- Focus on Agriculture, health and education.