The Digest:
According to Daily Post Nigeria, an economic expert has validated the World Bank's poverty report, stating that most Nigerians do not earn the ₦90,000 monthly benchmark required to escape poverty, highlighting that economic growth has yet to translate into tangible development for ordinary citizens.
Key Points:
- Dr. Tijjani Ahmad affirmed the World Bank's report on poverty in Nigeria.
- He stated that most Nigerians do not earn the ₦90,000 monthly required to escape poverty.
- He estimated that 60% of Nigerians live below the poverty line.
- The expert explained that macroeconomic stability does not immediately improve living standards.
- He identified the North as disproportionately affected due to literacy rates and informal jobs.
- High dependency ratios in the North exacerbate poverty in the region.
- Fuel subsidy removal and naira flotation were cited as major policies that worsened poverty.
Sources: Daily Post Nigeria
