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The former Governor of Ondo State, Dr Olusegun Mimiko, has tasked the Bola Tinubu/Kashim Shettima administration on the need to revitalise the economy and pull citizens out of poverty.
The former governor made this known at the Change and Development Forum powered by the Dare Adeboye Foundation, at the Redemption Camp, Mowe, Ogun State.
Mimiko stated, “There is no question about it that there is some rejigging we have got to do to get our country going. Economic development is more than creating a programme; it is an investment in growing the economy and enhancing the prosperity and quality of life of the citizens. We cannot overemphasise that.
“Development must translate to quality of life and living standard. And this must be denominated in literacy level, life expectancy, healthcare outcomes and level of freedom to people making choices among others.”
Discussing economic growth, he explained that the measure of growth is an increase in real national income or national output or more appropriately expansion in the production capacity of a nation.
He added, “Economic growth does not mean economic development. The economy can be growing but it can be captured by some percentage in which case the benefits of economic growth would not permeate the lives of the people.”
According to Mimiko, Nigeria’s five richest men have a combined wealth of about $29.9bn.
“This is enough to end extreme poverty at the national level. The point is, the economy can be growing without development.
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