Don’t Measure Citizens’ Welfare by Growth in GDP, Says Obasanjo

Former President Olusegun Obasanjo Wednesday warned against measuring the wealth of a nation and its constituent states as well as the wellbeing of the people by the increase in Gross Domestic Product (GDP). Obasanjo, speaking as the special guest of honour at the opening ceremony of the ongoing First Economic and Investment Summit in Jigawa State, said rather, the welfare of the people and the state of the economy should be determined by the amount of investments that are capable of creating employment.

According to him, “States should invest more in projects that will bring economic wealth for the people and states should be judged by the amount of investments that have improved the livelihood of the people, and not by the growth in GDP, as increase in GDP does not translate to actual wealth creation and wellbeing of the people.”  The former president who spoke in Dutse, the state capital, praised Governor Sule Lamido for his commitment to the development of the state and commended him for the underground drainage system that is currently going on in the state and for other infrastructure being put in place.

http://www.thisdaylive.com/articles/don-t-measure-citizens-welfare-by-growth-in-gdp-says-obasanjo/148934/

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