Nigeria’s Federal Government recently dismissed a report by America’s Brookings Institute that Nigeria is now the global headquarters of poverty and that the country now has the highest number of poor people in the world.
The Brookings Institute, based in Washington DC, reported that Nigeria had overtaken even India as the country with the largest number of extremenly poor people in early 2018, with 6 persons becoming poor every minute.
Dismissing the reports, Industry Minister, Dr Enelamah caimed it must have been compiled during Nigeria’s recession period.
In a quick response, American economist on terms of anonymity, stressed that Nigeria was still in recession in 2016 and part of 2017.
According to him, all that has really changed is increased oil revenue, as a result of the rising oil prices. He adds that the extra money has not yet affected the lives of ordinary Nigerians. The Federal budget was passed six months into 2018 and implementation poses immense problems.
In perspective, the Brookings Institute findings point to an enormous calamity –India’s population is 6 times that of Nigeria.
And some observers are asking whether even the severest of recessions can justify such a high level of poverty.