Millions of Nigerians have fallen below the poverty line in recent years despite efforts to tame it by the Nigerian government controlled by the All-Progressives Congress (APC) for eight years. The World Bank says the number of poor Nigerians rose from 79 million in 2018 to 104 million in 2023.
Bola Ahmed Tinubu extended the ruling party’s reign with his election victory in February after promising to improve the livelihoods of the nation’s more than 200 million people.
Tinubu has implemented a series of wide-ranging reforms aimed at revitalizing growth in Nigeria since taking office in May. The reforms, including scrapping a petrol subsidy, have pushed up the price of gas, goods, and cost of transportation.
The World Bank said 14.2 million Nigerians have become poor in 2023 alone as a result of Tinubu’s reforms which were intended to save the country from going under.
“Sluggish growth and rising inflation have increased poverty from 40% in 2018 to 46% in 2023, pushing an additional 24 million people below the national poverty line,” the World Bank said in its latest Nigeria Development Update report.
Read more: https://www.vanguardngr.com/2023/12/nigerians-under-poverty-line-rise-to-104m-world-bank/
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
