Nigeria’s industrialization and its setback<\/strong><\/p>\nManufacturing is one of these problems, as it is key to unlocking productivity, bigger export revenues and sustainable development. However, Nigeria is far from achieving its much-desired level of industrialization, as stated in the National Development Plan 2021\u20132025. Past industrial policies have been inefficient due to poor investment in infrastructure and low implementation of policies, leading to a decline in the sector\u2019s contribution to GDP to 8.4% from 20% in the 1990s. For Nigeria\u2019s industrialization to be successful, policymakers need to encourage foreign investment, push for a diversified economy, and implement comprehensive industrial policies.<\/p>\n
Inequality is exploding globally <\/strong><\/p>\nInequality has spanned through many economies over the years, resulting in a social stratum where the rich become richer and the poor become poorer, even in the hardest of times like today. According to Oxfam, 63% ($26 trillion) of the newly created wealth between 2020 and 2021 was amassed by the top 1%. The next 9% had 27% ($11 trillion), while the bottom 90% was left with only 10% ($5 trillion). For every dollar the bottom 90% have gained since 2020, billionaires have gained $1.7 million.<\/p>\n
In this edition of the Bimonthly publication, the FDC think tank analyses these issues and more, providing the implications on your business and the overall economy.<\/p>\n
Enjoy your read![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"
[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, It feels like 2008\/2009 all over again. Maybe even worse. From a pandemic to rising geopolitical tensions, bank…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,35],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/120699"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=120699"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/120699\/revisions"}],"predecessor-version":[{"id":120700,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/120699\/revisions\/120700"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=120699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=120699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=120699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}