The Nigerian Association of Economists (NAE), says 90 million Nigerians are currently living in extreme poverty due to bad economy and incompetence on the part of the President Muhammadu Buhari-led government, IgbereTV reports.
The President of the NAE, Prof. Innocent Eleazu, who stated this on Sunday during the Association’s Revival/Award Dinner party held in Owerri, Imo State, said the pathetic situation was as “a result of bad economy caused by incompetence, greed, corruption, wickedness and mismanagement of the country’s economy by the ruling class,” and warned that if the situation is not adequately addressed, there may be serious famine in Nigeria by 2025.
Prof. Eleazu also pointed out that one of the major causes of failure of the Nigerian economy was the “over dependence on crude oil which continues to dominate the Nigerian export sector.”
