World Bank Predicts Worsening Poverty Level in Nigeria

There are indications that poverty rate in Nigeria could become worse, with up to thirty million more people falling into the extreme poverty trap in the next ten years.

This statement was contained in a report obtained by newsmen from World Bank in its latest Nigeria Economic Update.

According to the World Bank, the only way to avert this calamity is if the Federal Government’s policy reforms bring about robust productivity and inclusive growth.

World Bank Lead Economist for Nigeria, Marco Hernandez noted that creating new opportunities for the rapidly increasing labour force would require a new economic model based on productivity growth.

Hernandez also said Nigeria could enable millions of citizens escape poverty over the next decade through enacting bold reforms designed to boost economic productivity, according to the latest economic analysis.