70 million Adult Nigerians are Poor - World Bank.... Aaaahbahhhh Na so ?

THE World Bank has disclosed that about 70 million Nigerian adults are poor, while Jigawa is the poorest state in the country.

 World Bank Lead Economist, Mr John Litwack, speaking at the media launch of the Nigeria Economic Report (NER) on Monday in Abuja, stated that poverty rates remain high particularly in rural area.

Mr Litwack noted in the report that although poverty rate declined slightly between 2004 and 2010, it did not however reflect on the generality of Nigerians.

The NER stated that Lagos had the lowest poverty rate of 22.9 per cent while Jigawa had the highest at 77.5 per cent. The report further showed that poverty is concentrated more in the Northern part of the country as against the South West where the rate of poverty is lowest.

The World Bank lead economist explained that to overcome these, there is need for better coordination of federal and state policies in key areas of the economy namely: macroeconomic management, coordinated policies to enhance market connectivity and improve public service, and the realisation of national standards in public financial management and disclosure.

“Enhanced cooperation among the federal and state governments can successfully address all these issues, thereby unlocking enormous potential for growth, job creation, and improvement in the welfare of Nigerian citizens,” the report said.

He insisted that problems in government have hindered the ability of Nigeria to translate its resource wealth into the infrastructure and public services needed for a take-off into sustainable and diversified growth.

Litwack said that to attract foreign investors, it was important that government also tackle the problems of market connectivity and infrastructural deficit. - Tribune