The World Bank has predicted that by the end of 2022, around 95.1 million Nigerians will slip into the extreme poverty line due to the stagnation of the country’s economy, occasioned by poor policies of the government, IgbereTV reports
In a report published on Tuesday entitled ‘A Better Future for All Nigerians: 2022 Nigeria Poverty Assessment,’ the World Bank said the Nigerian economy has been stagnated since 2015 when the administration of President Buhari came into power.
The Washington-based bank said according to several surveys it conducted since 2015, “poverty reduction in Nigeria appears to have stalled in the last decade.”
“Poverty reduction in Nigeria appears to have stalled in the last decade, especially since 2015, according to both back-casting and survey-to-survey imputation techniques,” the report said.
“The best estimates from the back-casting approach suggest that the poverty headcount rate—at the international poverty line—was 42.8 percent in 2010.
“What this means is that going by that back-cast surveyd, about 95.1 million Nigerians are expected to be poor by 2022.
“Since the back-casts provide yearly estimates, they also suggest that poverty may have started declining in the first part of the 2010s, but that this trend halted and then reversed around 2015.
