Nigeria’s scarce resources going to wrong sectors-USAID

The United States Agency for International Development says
Nigeria is pouring scarce resources required to fix critical sectors such as education and health care services into subsidies on petroleum products and electricity.

The USAID Country Mission Director, Stephen Haykin, who represented the US Ambassador to Nigeria, Stuart Symington, said this at the 10th Anniversary Colloquium of the Financial Nigeria Magazine in Abuja.

Haykin said the inability of the country to recover the cost of electricity as well as the failure to recover the full cost of production from pump prices of petroleum products meant that critical resources are being diverted instead of being invested in critical needs in education and health care.