…says over 70% of Nigerians remain poor despite reforms
The World Bank has decried that Nigeria’s economic performance over the past years has been constrained by structural rigidities, policy missteps and repeated external shocks, leaving millions trapped in poverty.
The bank, in its Country Partnership Framework for Nigeria, covering 2026 to 2032, stated that about 139 million Nigerians currently live below the national poverty line, with poverty concentrated largely in the northern part of the country.
It also indicated that more than 86 million Nigerians are living in the dark, without access to electricity. At the same time, three to four million young people enter the labour market every year with limited employment opportunities.
“Despite recent bold reforms stabilising the economy and laying the groundwork for the Renewed Hope Agenda, significant structural challenges remain,” the bank stated.
It emphasised the need for the Nigerian government to sustain macro-fiscal and structural
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