Answer:
Drawing on the statistical data, Awoyemi observes that much of the growth is related to oil, telecoms, finance, the stock market and real estate. And civil servants and corrupt politicians are also doing well. Yet none of these industries are labor intensive and do little to reduce the country’s very high unemployment rate. A consequence is that the distribution of income is getting worse, not better.
Citing Central Bank governor Lamido Sanussi, Awoyemi observes that Nigeria’s macro-economic policies have encouraged import consumption rather than local production. To address increasing poverty, Nigeria needs a "growth inclusive" model that will emphasize domestic production of goods consumed and that will reduce unemployment.
Explanation:
