The Economist magazine has disclosed that Nigerians have become the poorest citizens of a country in the whole world, under the first term in office of President Muhammadu Buhari.<\/p>\n
The Economist said Nigeria\u2019s economy is \u201cstuck like a stranded truck.\u201d<\/p>\n
This revelation is against the growth claimed by the National Bureau of Statistics that \u201cNigeria\u2019s Gross Domestic Product (GDP) grew by 2.01%(year-on-year), in real terms, in the first quarter of 2019.\u201d But the Economist claimed that \u201cby 2030 a quarter of very poor people will be Nigerian.\u201d<\/p>\n
The Economist said that while the inflation is at 11 per cent, some 94m Nigerians live on less than $1.90 a day.<\/p>\n
According to the report, \u201cLong lines of lorries stretch like tentacles from Apapa port, the largest in Nigeria.<\/p>\n
\u201cDrivers doze in their cabs, feet flung over dashboards; some sling hammocks beneath the chassis.<\/p>\n
\u201cMusa Ibrahim, an ebullient trader, says he has been queuing for two days. He gestures at empty buildings. \u2018Most of the companies you see here they done close,\u2019 he sighs.\u201d<\/p>\n
\u201cThe Nigerian economy is stuck like a stranded truck. Average incomes have been falling for four years; the IMF thinks they will not rise for at least another six.<\/p>\n
\u201cThe latest figures put unemployment at 23%, after growing for 15 consecutive quarters. Inflation is 11%. Some 94m people live on less than $1.90 a day, more than in any other country, and the number is swelling. \u201cBy 2030 a quarter of very poor people will be Nigerian, predicts the World Data Lab, which counts such things.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Economist magazine has disclosed that Nigerians have become the poorest citizens of a country in the whole world, under the first term in office of President Muhammadu Buhari. The Economist said Nigeria\u2019s economy is \u201cstuck like a stranded truck.\u201d This revelation is against the growth claimed by the National Bureau of Statistics that \u201cNigeria\u2019s […]<\/p>\n","protected":false},"author":62,"featured_media":10911,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,19],"tags":[106,365,686,367],"class_list":["post-10908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-beyond-the-news","tag-economy","tag-inflation","tag-poverty","tag-unemployment"],"yoast_head":"\n