Nigeria is lagging behind comparable economies on nearly every major measure of shared economic prosperity, according to an assessment by global audit and advisory firm KPMG, meeting only two of 15 indicators assessed by the firm.
In its report presented in Lagos on Thursday at BusinessDay’s CEO Forum titled Nigeria: From Stability to Shared Prosperity eponymous with the conference’s theme, KPMG measured Nigeria’s effort to translate macroeconomic growth and reforms into better living standards across four prosperity pillars including Inclusive Economic Growth, Well-being & Living Standards, Equity & Inclusion, and Access to Opportunity.
To assess Nigeria’s progress towards shared prosperity, KPMG selected Indonesia, Vietnam, Malaysia, Chile, and Singapore as benchmark countries based on “sustained shared prosperity performance, using the World Bank’s October 2024 Global Database
of Shared Prosperity (GDSP), which measures income or consumption growth among the bottom 40 percent relative to the overall population,” it said.
Global averages were derived
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