The Co-Chair of the Bill and Melinda Gates Foundation, Bill Gates, on Wednesday, urged Nigerian leaders to put the 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 had been visiting Nigeria for over 20 years, forged friendships with leaders across sectors, and met with innovators transforming the world.
He said: “I’m also proud to support their work.
“To date, our foundation has invested over $2.8 billion in Nigeria. It’s our largest commitment in all of Africa.
“To be known as a friend to Nigeria is a great honour. But being a friend means telling the truth, even when it’s difficult.
“That’s what I aimed to do six years ago when I shared my thoughts with the NEC about the urgent need to invest in Nigeria’s greatest resource: its people.
“I said then that I will always bet on the incredible potential of the Nigerian people. And that’s still true today.”
The philanthropist lamented that while the world has changed tremendously in those six years, Nigeria’s economy has stagnated.
He said that early this year, Nigeria’s debt exceeded 50 percent of its gross domestic product (GDP) for the first time since 2001.
“And, while your revenue-to-GDP ratio has grown, it’s still lower than what it was 15 years ago.
“The result is that Nigeria spends less per capita on its people than other African countries with a fraction of your wealth,” he noted.
Gates said the country’s leaders had taken some difficult, but necessary steps, including unifying the exchange rate.
According to him, the next great hurdle is raising revenue.
“I understand this is a politically sensitive area. Nigerians are struggling. Incomes have fallen. Prices have soared. And like in many other countries, people are protesting.
“Taxes are never popular. That’s true in America too. But they’re part of a social compact.
“People are more likely to pay them when they see the government spending that money to give Nigerians a better life,” he concluded.
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