WHAT A HOLIDAY LOVING COUNTRY - NIGERIA LOSES N9.74B TO PUBLIC HOLIDAYS IN ONE YEAR



From Guardian Newspapers we learnt that Nigeria loses N9.74b to public holidays in one year

Background
  • In 2016 alone, about 15 national public holidays were observed, excluding others declared in some states.
  • Data from the National Bureau of Statistics (NBS) for the fourth quarter (Q4 2016) showed that 81,151, 885 workers spent 37.38 million hours during the period to contribute N29.29 trillion to the economy at an average productivity rate of N783.51. Using the same estimates, with the expectation that workers spend an average of eight hours of productivity daily, 15 days of public holidays at N783.51 productivity value, means N9.74 billion, representing 10 per cent of the budgetary allocation in 19 states in 2016 when assessed on individual basis, was lost to the idle periods.
Our take on the matter 
  • Frivolity over productivity leads to mediocrity - Abayomi Omotayo 
  • According to the report from Guardian, this same amount could deliver a fully equipped teaching hospital to enhance the epileptic tertiary health care system in the country. This means Nigeria have simply been wasting precious time and resources all in the name of holiday
Conslusion
  • We bet that this statistics will be ignored and no concrete step will be taken to address this. This is Nigeria..except she changed when we at musingsamplified left work yesterday.
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