By Providence Ayanfeoluwa

The Wilson Badejo Foundation, WBF, co–founded by the late Rev. Wilson and Rev. Mrs. Adeyinka Badejo, has said that Nigeria’s border closure further weakened her economy.

Meanwhile, former President Olusegun Obasanjo, would chair the WBF public lecture scheduled for August 10, 2022 at the Nigerian Institute of International Affairs, NIIA, Lagos with the theme: “Overcoming the Twin Challenge of Poverty and Insecurity in Nigeria: The Way Forward,’ where Director-General of NIIA, Prof. Eghosa Osaghae, is expected to deliver a lecture.

Speaking at a media brief heralding the WBF 15th Annual Lecture, Chairman of the Foundation, Dr. Osaren Emokpae, said “Locking of border further weakened the country’s economy because there were investors who now chose to go away because they cannot bring in and they cannot sell, so why do they have to bring their money in. There was capital flight at the time.”

He added that this year’s lecture focuses on the twin problems of poverty and insecurity which is affecting the country.          

Emokpae who said that poverty is fueling in secuirity in the country pointed out that when compared to other African countries, Nigerians are more miserable, majority are extremely miserable.

His words: “People are miserable because of lack of food. Nigeria’s corruption index is one of the highest in the world compared to other countries, we have the worst life expectancy in the world; Nigerians do not live long due to poverty.

Nigeria fared abysmally in all the misery index parameter and was the fourth most miserable country in Africa, only better than Sudan, Zimbabuwe and Angola. The reasons for Nigeria’s high misery index are obvious.

The Buhari’s economic policies are delivering pains for the majority. Since he assumed office in 2015, the country has witnessed two recessions. In 2020, Nigeria recorded a negative growth of -1.8 percent. It was -1.6 percent in 2016, for a country of about 211 million struggling with a GDP of $432.29 billion.

While citing a recent report by the World Bank, he said that the number of poor Nigerians is projected to hit 95.1 million by the end of 2022.