Nigerians now Poorest People in the world -The Economist
In review of the Economist Magazine , it showed that Nigerians became poorer, and have become the poorest citizens of a country in the whole world, under its current President Muhammadu Buhari’s first term in office.
It also said that Nigerians will even become poorer in the years to come as average income per Nigerian, will continue to fall for the next six years, as it has continually fallen for the last four years of the president.
The Economist said Nigeria’s economy is “stuck like a stranded truck,” Comparing Nigeria’s economy to the long lines of Trailers on queues heading to Apapa port (one of the [ports in Lagos Nigeria).
Regardless of this, the growth claimed by the National Bureau of Statistics that “Nigeria’s Gross Domestic Product (GDP) grew by 2.01%(year-on-year), in real terms, in the first quarter of 2019.”
“By 2030 a quarter of very poor people will be Nigerian.” the Economist claimed.
It said while the inflation is at 11%, some 94m Nigerians live on less than $1.90 a day.
“Long lines of lorries stretch like tentacles from Apapa port, the largest in Nigeria. Drivers doze in their cabs, feet flung over dashboards; some sling hammocks beneath the chassis,”According to the report.
The IMF thinks the Nigerian economy will not rise for at least another six, saying, “The Nigerian economy is stuck like a stranded truck. Average incomes have been falling for four years”.
According to the latest fiqures, unemployment is 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.
According to prediction of the World Data Lab “By 2030 a quarter of very poor people will be Nigerian,.”