The world bank report on Nigeria’s poverty shows that every Attempt to roll poverty away has stagnated in the last 10 years.
It means; Every effort that we’ve put in place weather monetary, physical, social, income policy. Everything has stagnated. Everything we’ve tried to Achieve ; poverty reduction, insecurities, inflictions, climate change rolls back.
The country’s Economic has shown slowish growth, low human capital and labor market weakness.
What could the government be doing wrong? According to (Dr) Terfa W. Abraham, PhD Economist from this preview in 2022 he said. Empower gave N30,000 during the COVID-19 pandemic which is equal to minimum wage.
Another ongoing infiltration of almost double digit Approaching above 15%. The value in the market ha been devalued by a significant proportion.
Further more, he would say: the value of money in the market has been devalued by significant proportion. exchange rate distortion is there AS well.
The purchasing power of cash is being used for conditional cash transfer for instance cannot even match what people are facing right now.
In the “not too good statistics” many people believe that more needs to be done to save the economy. In my opinion, Nigerians should set up businesses or rather still dive into online businesses while we pray things get better. Be self employed to be on a safer side.
