Bill Gates, Co-chair, Bill and Melinda Gates Foundation, has appealed to Nigerian leaders to put citizens first in building a better future for all.
Gates gave the advice during a meeting with members of the National Economic Council (NEC), on Wednesday in Abuja.
The meeting was attended by Vice-President Kashim Shettima, state governors and Ministers.
Gates said that he had been visiting Nigeria for over 20 years, forged friendships with leaders across sectors and met with innovators who were transforming the world.
“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 honor. 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,” he said.
According to the philanthropist, the world has changed tremendously in those six years, however, Nigeria’s economy has stagnated.
She said that early this year, Nigeria’s debt exceeded 50 per cent 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 said.
Gates said that the country’s economic 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 said.
He added that there were many Nigerian leaders committed to investing in the people and many promising solutions in the pipeline.
“President Tinubu’s “Renewed Hope” agenda is ambitious. And he’s assembled a cabinet ready to meet the challenge.
“But with limited resources, the key is putting the funds you do have to the best possible use,” he said.
According to him, priorities without funding are only words, saying it’s impossible to give every priority the funding it requires.
Gates advised the government to focus on the areas that would make the greatest difference on its citizens.
He stressed the need to prioritise health and agriculture, especially improved funding for nutrition at all levels of government.
“I’m an optimist by nature. I’ve seen how much good can be done by smart investments, innovative thinking, and dedicated leaders who put their people first.
“But I’m also a realist. I know as well as you do that turning things around won’t be easy.
“But by putting the Nigerian people first, Nigeria’s leaders can build a better future.
“In 2018, I closed my remarks to the NEC by telling you I believed in the grand vision of Nigeria’s future. Well, I’m here today to say I still do,” he said.
According to him, for over two decades, the foundation’s grantees have helped solve some of the most intractable problems in all priority areas.
Gates reiterated his commitments to continued support for Nigeria’s development.