Bill Gates to Nigerian leaders: Put your citizens first

Bill and Melinda Gates Foundation Vice Chairman Bill Gates on Wednesday urged Nigerian leaders to put citizens first.

Gates made the call at a meeting with members of the National Economic Council (NEC) in Abuja.

The meeting was attended by Vice President Kashim Shettima, state governors and ministers.

The billionaire said he has been visiting Nigeria for more than 20 years, building friendships with leaders across sectors and meeting innovators who are changing the world.

He said: “I am also proud to support their work.

“To date, our foundation has invested more than $2.8 billion in Nigeria. This is our largest commitment in all of Africa.

“To be known as a friend of Nigeria is a great honor. But being a friend means telling the truth, even when it is difficult.

“That is what I set out to do six years ago when I presented my thoughts to the NEC about the urgent need to invest in Nigeria’s greatest resource: its people.

“I said then that I would always bet on the incredible potential of the Nigerian people. And that is still true today.”

The philanthropist lamented that while the world had changed drastically in those six years, Nigeria’s economy had stagnated.

He said that earlier this year, Nigeria’s debt surpassed 50 percent of gross domestic product (GDP) for the first time since 2001.

“And, even though your income-to-GDP ratio has grown, it is still lower than it was 15 years ago.

“The result is that Nigeria spends less per capita on its people than any other African country with a fraction of your wealth,” he said.

Gates said the country’s leaders had taken some difficult but necessary steps, including unifying exchange rates.

According to him, the next big challenge is to increase revenue.

“I understand that this is a politically sensitive area. Nigerians are struggling. Incomes have gone down. Prices have gone up. And like in many other countries, people are protesting.

“Taxes have never been popular. That’s true in America, too. But they’re part of the social compact.

“People are more likely to pay them when they see the government spending the money to provide a better life for Nigerians,” he concluded.

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