Ahead of her visit to Nigeria, on Wednesday, August 28, Mrs. Theresa May, Prime Minister of the United Kingdom, has admitted that Nigeria has the highest number of poor people in the world.
She made this remark in Cape Town, South Africa, on Tuesday, being part of her scheduled trade mission tour of three African economies ahead of Britain leaving the EU in 2019.
The UK PM revealed that Africa is home to a majority of the world’s fragile states, and a quarter of the world’s displaced people, adding that the continent has the highest number of poor people in the world, stating that 87 million Nigerians were living below the poverty line of $1 and 90 cents per day.
She said, “Much of Nigeria is thriving, with many individuals enjoying the fruits of a resurgent economy, yet 87 million Nigerians live below $1 and 90 cents a day, making it home to more very poor people than any other nation in the world.
May said achieving the inclusive growth is a challenge across the world, adding that Africa needs to create 50,000 new jobs per day to keep employment rate at its current levels till 2035.
The UK PM further said she wants the UK to become the biggest G-7 investor in Africa by 2022, building around shared prosperity and shared security.
She said, “I am unashamed about the need to ensure that our aid program works for the UK,” May said, adding that a healthy African economy is good news for the UK.
“Today I am committing that our development spending will not only combat extreme poverty, but at the same time tackle global challenges and support our own national interest.”
“It is in the world’s interest to see that those jobs are created, to tackle the causes and symptoms of extremism and instability, to deal with migration flows and to encourage clean growth,” she added.
The 61-year-old said the UK is planning to sign a deal with Kenya to ensure the repatriation of stolen Kenyan funds stuck in the UK.
The UK has one of the biggest overseas aid programme in the world, expending $18 billion on aid overseas in 2017 alone.
Mrs May who is expected to visit Nigeria and Kenya during her three-day trade mission to Africa, further said she wanted the UK to overtake the US to become the G7's biggest investor in Africa by 2022.
She promised to continue existing economic links based on the UK's EU membership - including an EU-wide partnership with the Southern African Customs Union and Mozambique - after Brexit next year.
Promising an extra £4bn in direct UK government investment - which she expects to be matched by the private sector - she said while the UK could not match the "economic might" of some foreign investors - such as China or the US - it offered long-term opportunities of the "highest quality and breadth".
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