Understanding " Shared Prosperity" As A Dynamic Developmental Concept.By: Prince Eze Ugochukwu.
By: Prince Eze Ugochukwu.
The programs and policies of the present Imo State government is anchored on the doctrine of "Shared Prosperity". What does it mean and how is it achievable in practical terms? That is the question.
Shared prosperity is a policy framework that is targeted to lift the poorest segment of our population out of poverty. It is about inclusive growth in the income of the poor.
The challenge is daunting but yet achievable. Therefore, it calls for courage and dynamism.
If we apply the report and measures set by the World Bank, shared prosperity as a concept seek to grow the per capita incomes or consumptions of families who occupy the poorest 40% of the population. The aim is to continously improve the wellbeing of the poor.
The question is, how do we lift the poorest out of poverty. How do we reduce deprivations in our state. How do we close the inequality gap and what strategy can we apply to sustain economic growth that will create opportunities for the poor.
It will require clear policies and programs to bring about the shared prosperity of our dreams. Only good policies and programs will create the route out of poverty.
Again, how do we identify the poorest of our population. What yardstick do we apply. Where do our poorest live. Where can we locate the poorest. Yes, our rural areas lacking productive economic activities remain the domain of the poor.
But there are also large segments of the urban poor. How do we integrate both segments into a cohesive masterplan meant to alleviate their poverty.
Talk of reducing rural poverty is to canvass a basket of issues and problems that require solving. We will have to solve the problems of rural infrastructure like roads, electricity and water supply, we must enhance access to social services mostly primaly healthcare services, we must increase the participation of women and youth in productive and entrepreneurial activities.
There is equally a need to add value to agricultural production. This calls for an agric value chain, with cottage industries and access to markets.
For the urban poor, the emphasis should be on how to engage them in productive skill-based activities, which creates jobs.
Encoragement of small and medium scale enterprises is crucial. The point here is to generate new employment opportunities and increased profit for entrepreneurs.
And how do we hit the ground running in all these. The need for stakeholder participation cannot be over-emphasized. We must put all our resources both human and material to lift our people out of poverty.
Therefore, an economic summit to discuss challenges to an all inclusive growth will be necessary. This will help to generate data, research materials, knowldge on how entrepreneurs can access financial resources, agenda for skills and vocational training etc.
Such summit will help us gain insight into what is happenning elsewhere, point us to where we can get support and partners, and how to surmount anticipated challenges by turning such into opportunities.
Prince Eze Ugochukwu writes from Owerri. Imo State.
