Research experts on Monday expressed worries over Nigeria’s inflation of 17.33 per cent and unemployment rate 33.3 per cent amidst rising national debts.
A lecturer at Ahmadu Bello University, Zaria, Prof. Muhammed Usman, in a presentation, said, “In 2009 and 2013, Nigeria invested a paltry $664 per capita per annum in infrastructure, representing three per cent of its GDP, compared with an average investment of $3.060, or five per cent of GDP in developed countries.”
The Chief Executive Officer, Nigeria Economic Summit Group, Mr Laoye Jaiyeola, who chaired the meeting, noted that infrastructure was a major hindrance to the country’s competitive development. The Executive Secretary of TETFund, Prof. Suleiman Bogoro, said the fund was reviewing a report of the draft executive bill on the establishment of the National Research and Development Foundation earlier received from the RDSC.
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