Poverty Level Has Reduced In Nigeria – World Bank

Posted on Wednesday, January 16th, 2013 at 10:27 PM

By Adeola Adeyemo

The World Bank has praised economic policies of President Goodluck Jonathan‘s administration, declaring that it has led to slight reduction in the country’s poverty index from 48 to 46 percent.

Mouktar Diop, World Bank’s vice president for Africa during his visit to President Jonathan yesterday said that Nigeria’s economic indicators remained positive even times of recession.

At the time when the economy is going down, we have seen that Nigeria has been keeping a growth rate which is rather significant. So, I was here to hear from the President’s priority and discuss other issues such as how poverty has been evolving in the country and what we can do to accelerate the reduction of poverty.

“Our work recently has shown that there is slight reduction in the level of poverty in Nigeria moving from 48 to 46 percent.  The trend is good. It needs to be accelerated obviously. What we discussed are the policies that we can put in place to accelerate the pace of poverty reduction in Nigeria,” Daily Trust quoted him as saying.

Diop also said the World Bank has decided to intervene in Nigeria’s energy crisis saying it has decided to put up a task force which will include private sector branch to support the reform.

Unlike the unencouraging statistics that has been attributed to Nigeria by international organisations in recent times, this is quite welcoming. However, some Nigerians disagree with the statistics saying there is no visible improvement in the quality of lives of the average Nigerian and the poverty level is still high in Nigeria.

What are your thoughts on the declaration made by World Bank?

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  • 23 Comments on “Poverty Level Has Reduced In Nigeria – World Bank”

    Comments
    • baruch January 16, 2013 at 10:33 PM

      Hmmmm how nowwww?????

    • Joyce January 16, 2013 at 10:37 PM

      Poverty level is getting higher by the day. The inflation rate is so high, basic needs are not met….

      • ego January 16, 2013 at 11:34 PM

        exactly……please tell me how ….unless my reading glasses are fogged up…how did it reduce ….common petrol to fuel your car cost as much as a kidney transplant lol

    • Let them say January 16, 2013 at 11:04 PM

      It can only get better.

    • mgbeke feeling funky January 16, 2013 at 11:38 PM

      unless not the naija i knew now is worst ,food is the most expensive thing in naija at moment ,i wonder how i will buy china jeans for 100o naira yet one chicken is allmost 1300naira why so ,

    • Winny January 16, 2013 at 11:41 PM

      What a myopic statement, i wonder how fat this Diop of a man brown envelope was on his visit to Aso Rock that he would make such an irresponsible statement or should i say assessment.Rubbish if only he toured around the Nation. SMH

    • Anonymous January 16, 2013 at 11:47 PM

      In my opinion, I think poverty level has reduced. Although I have not been to Nigeria in a very long time, but, with what i see in the media of recent, Nigeria has changed a lot. I think its cos people have stopped waiting on the govt, rather they have started making good use of their God’s given talents, esp the entertainment industry. A lot of young adults have sprung up and they are doing very well for themselves, we now have more entrepreneurs than we used to. I just hope we continue at the pace we are going and then sky is our starting point.
      Having said that, there are still some parts of Nigeria that is still very poor, this is where I implore the govt to please have mercy and do something about. I remember at my previous job, there was an apprenticeship program we were asked to sign up for and we get incentives for signing up. Upon completion, the govt gives you a token of $4k, for completing the program and then if you decide to go ahead and set up your own biz, you get a start up fund entirely free, to get going. A program like that will do no harm to our govt.
      Poverty might have reduced, but still deep rooted.

    • Temitope Adewoye January 17, 2013 at 12:02 AM

      Interesting!
      jeenager.com

    • Missbrown15 January 17, 2013 at 12:38 AM

      They call a 2% decrease a decrease? You must be joking

    • Fabulous££ January 17, 2013 at 12:55 AM

      Are we supposed to celebrate a 2% decrease? really? mcheew

      • Bisi January 17, 2013 at 7:36 AM

        Nigeria has a population of about 160 million. A 2% decrease means 3.2 million are experiencing a higher standard of living than they were before. Yes you should celebrate.

        • lily January 17, 2013 at 3:23 PM

          @Bisi please go buy a cow and celebrate ….that is if you can afford it! Abeg, no dey comment under my writings o….write your opinion separately with your false statistics…mcheew!

        • samuel September 5, 2013 at 11:34 AM

          then 73.6 million people are still poor

    • konnie January 17, 2013 at 1:14 AM

      You are kidding. Too too funny. It has increase in USA and the UK and oh=ther western countries but reduced in Nigeria. Thanks for the false reporting. Now we know were all the crazy data on economic matters comes from

    • NNENNE January 17, 2013 at 1:23 AM

      Times are still hard in Nigeria but the poverty level has decreased. The only problem we have is that most people do not want to do certain thing that people did before to earn a living.

    • Olufunmi January 17, 2013 at 2:39 AM

      Oh no ***shocked*** which Nigeria?? the one in Africa or North America?? :O
      YCFOnline.com

    • www.thebanquethall.blogspot.com January 17, 2013 at 3:41 AM

      Well, what u say is what u get, so I agree…things are getting better in Nigeria in Jesus name.

    • D2 January 17, 2013 at 5:34 AM

      World bank is very right,albeit Nigerias economy growth rate is a paradox. Growing economy amidst unemployment and high-level corruption?Hello! Guys, the poverty reduction is as a result of a “New Economy” that has been created via the free money in the system; no thanks to our large oil revenue. New Economy include but not limited to: Brief case contractors (subsidy,import waivers beneficiaries and other toothpick and cutlery suppliers for the Villa); Kidnapping; yahoo-yahoo; Runz (sugar-daddying); Bishopreneurship… (fill in the gap). These are the alternatives that have replaced good governance in Nigeria, thereby putting money in the pockets of those who engage in any of these get-rich-quick but highly unsustainable business ventures. The profit from these “businesses” spreads to friends, families (nuclear and extended) and often times villagers as well. Hence, the seeming outlook that poverty is reducing. This growth can never last, except REAL businesses and opportunities that is sustainable is created.

      • Ola January 17, 2013 at 9:10 AM

        ha ha, very cynical but hits the nail!

    • iamfascinating January 17, 2013 at 7:53 AM

      true,

      thestunninglady.blogspot.com

    • ruth January 17, 2013 at 10:00 AM

      haba even GEJ knws dis isnt true.

    • Sonia January 17, 2013 at 11:30 PM

      This is a Joke right?

    • oyibo February 18, 2013 at 7:14 AM

      until corrupt leaders are put in prison, notting will change world bank should forget about nigeria, untill corruption is wipe out of the face all these thief ministers, Governors nigeria can’t not move foward. death penality for corruption then nigeria will look like Germany in d next one year