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NPC research shows that Nigeria received N855B from foreign organisations

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NPC research shows that Nigeria received N855B from foreign organisations

By Samuel Ogundipe

The federal government of Nigeria received contributions of about N855B in 2011, a newly released report by the National Planning Commission has revealed.

The contributions were contained in the ”2012 Performance Report on the Nigerian Economy” released by the commission.

According to the report, “the last official statistics on grant was reported in 2011” and it showed “that there are currently 18 major development partners supporting Nigeria’s development efforts.”

Out of the figure, the report stated that seven are from the United Nations’ system. The commitment by several international organisations was made in the review period.

“On the basis of the mid-term assessment of the first National Implementation Plan (1st NIP) of the Nigeria’s Vision 20:2020, the aggregate disbursement of development assistance to Nigeria stood at $2.76 billion. This represents a disbursement of rate of 50.09 per cent or 0.004 per cent of Gross Domestic Product (GDP),’’ the report stated.

The report further highlighted the deepening state of corruption in the country. It claimed that the funds have gone into the coffers of corrupt government officials the same way as revenues accrued from oil exports because the huge donations have not been able to make any significant difference in the overall performance of Nigerian economy.

“International organisations have been making donations every year to this country but, alas, we have never been able to see their impacts, said economist Yinka Ogunkoya. The country will never benefit from the torrent of money flowing in to this economy from foreign NGO’s,” he said.

The NPC report concluded that: “The donors committed $29.5 million to Agriculture and Rural Development sector, while the Youth Development sector accounted for $11.8 million.

“Overall assessment of disbursements, however, indicates that Nigeria is not an aid dependent economy. This given that the aid to GDP ratio was 0.004 per cent per annum during the review period.”

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