With population in Sub Saharan Africa on the rise, it has become imperative to address the attendant poverty levels that have resulted from the region’s burgeoning population. In the report, the World Bank calls SSA governments to take action to address this challenge, BENJAMIN UMUTEME writes
With a large number of sub Saharan Africa among the Least Developed Countries (LDCs), indicating that majority of its citizens are living below the poverty line.
In this new report, the World Bank looks at how the social status of one’s parent can be an influence in determining a person’s future.
According to the report, increases in education from generation to generation have stalled over the last half-century leading to increase in poverty levels.
About half of people born in an average developing economy in the 1980s have more education than their parents – showing no improvement when compared to those born in the 1960s. If the world does not alter the way it invests in its children, particularly those coming from less advantaged backgrounds, there is little reason to believe that this assessment will be different 10 years from now, making an end to extreme poverty by 2030 an even bigger challenge.
Is there a crisis?
The report titled “Fair Progress? Educational Mobility Around the World shows the low levels of upward mobility that is particularly pronounced in the developing world, especially in Sub-Saharan Africa. All of the 15 economies where people’s education level is most closely tied to their parents’ education level are developing economies
For World Bank President, Jim Yong Kim “We are living in the middle of a human capital crisis and need to do everything we can to create a world where children everywhere have the opportunity to become whatever they want,”
“The potential of hundreds of millions of people is being wasted, as their chances remain too closely tied to the previous generation. We have to invest in young children so they are hardwired to succeed, encourage and meet the aspirations of young people, and act at all levels – especially locally – to ensure that tomorrow’s generation can thrive regardless of where they are born.” said
For example, only around 12 percent of today’s young adults (born in the 1980s) in some Sub-Saharan African economies have more education than their parents, compared to more than 80 percent of the same generation in parts of East Asia.
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The study points to three broad pathways forward to increasing economic mobility from generation to generation.
Equal opportunities for children
Investments in early childhood development, education access and quality, maternal and child health, nutrition, infrastructure, water and sanitation, and other key services in the earliest years are critical to improving mobility and building human capital. For example, economies that have lower stunting (low height for age, a sign of chronic malnutrition) rates for children at age five and those that invest more of their public resources in education are likely to have higher mobility.
The recent World Development Report on Education makes a strong case for investments in learning and better-quality education as a pathway out of poverty, and the World Bank Group has recently announced the Human Capital Project— an accelerated effort to help countries invest more, and more effectively, in their people—as a critical step to boosting inclusive economic growth and ending extreme poverty.
Aspirations
When people perceive that they cannot move out of poverty, they are less likely to take the necessary steps to do so – their perceptions impede their aspirations, keeping them trapped. It is critical to incorporate behavioral insights into policies and programs, to better reach those who have been left behind in the development process.
Local action:
The environment a person is born into matters, alongside the social status of one’s parents. Actions at the local level, from regions down to neighborhoods, are crucial to breaking the cycle of poverty. Poorer people are likely to live in poorer areas with worse schools, crumbling infrastructure, low access to and quality of services, and higher crime, which can impact a child’s ability to learn, grow, and thrive.
Any progress so far?
The world bank is making progress toward the goals of ending extreme poverty by 2030 and boosting shared prosperity everywhere by focusing its resources on three areas – promoting sustainable and inclusive economic growth, investing in human capital, and fostering resilience to shocks – and by measuring progress.
However, with human and material resources development at a very low ebb, the Bank has continued to provide opportunities for the region (SSA) to focus and build support to get out of poverty.
FIRS hits 79.35% of 2017 collection target in 10 months – Fowler
The Federal Inland Revenue Service (FIRS), yesterday in Abuja, said it generated N3.233 trillion in 10 months, an amount that represented 79.35 per cent of its collection target for 2017.
The Executive Chairman of FIRS, Tunde Fowler, disclosed this at interactive session for review of 2018–2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), organised by House of Representatives Committee on Finance and Appropriations.
The FIRS boss who briefed the joint committees on key strategies for achieving the objectives of the 2018 budget, said FIRS justification for 2018-2020 Revenue frameworks was based on Federal Government Economic Recovery and Growth Plan (ERGP).
According to him, FIRS deployed technology to ramp up more revenue for the nation, especially as its tax assessment between 2013 and 2015 revealed N1 trillion after its tax audit exercise.
The chief tax officer of the country said the exercise had already yielded over N3.7 billion in collection of taxes into federal government coffers.
This, he said, was a pointer of its ability to meet FIRS assumptions for the 2018 – 2020 M-TEF expectations.
These successes, he noted, were as a result of various measures adopted by the service to ensure increased collections of federal government dues in corporate and individual taxes.
He added that the measure would continue to be relevant in achieving better collections in 2018.
While listing the measures that brought about the successes, Mr. Fowler said the new modalities structured for optimal access of accruable dues from Voluntary Assets and Income Declaration Scheme had yielded over 54 million dollars (N16.73 billion) and N207.41 billion), totalling about N16.40 billion at the federal level only.
“We have stepped up enforcement activities against task defaulters on different fronts; these include placing non-compliance stickers on business premises of tax payers with outstanding amounts but made no move to liquidate it,” he said.
“We also adopted substitution as enforcement tool by putting a lien on the bank account of errand tax payers.
“This in my view will serve as deterrent to defaulters and consequently increase tax collection.
“FIRS has so far collected over N6 billion and 4.2 million dollars (over N1.4 billion), totalling over N7.7 billion.
