Africa, Business Maverick, Politics
British Council: Nigeria on cusp of ‘demographic disaster’
Nigeria is on the cusp of becoming the fifth most populous country in the world, and unless the economy expands to encompass the expanding population, disaster looms, says a report by the British Council. Nigeria's 150 million will swell by another 63 million in the next 40 years, putting a massive strain on the stagnant economy. The GDP has remained mostly flat as the population boomed over the last two decades, and with more than 40% of Nigerians under the age of 14, this is going to create huge problems with large masses of unemployed youth, which in turn will raise the crime rates and likelihood of civil unrest. The British Council urged the Nigerian government to wean themselves off oil industry dependance, revive the neglected agricultural sector and invest in other burgeoning industries like telecommunications. Read more: SAPA, via City Press.
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