The World Bank has revealed that over 70 million Nigerian adults live in Poverty, with Jigawa state having the highest the percentage of poor people.
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.
In the report, it was noted that Lagos state 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.
“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.
“Investors with the potential to set up large scale operations and create jobs will be reluctant to do so if they cannot service a large market. Under these conditions, a number of Nigerian states have limited opportunities to attract significant investors,” he 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.
Speaking at the launch, the World Bank Country Director to Nigeria, Marie Francois Marie-Nelly, said there was need by the government to begin to operate a more stable budget despite volatility in oil prices worldwide.
She urged the government to create a conducive atmosphere for investment to thrive and “the private sector will come in.”
Common sense is indeed not common.
Posted: at 14-05-2013 09:46 PM (10 years ago) | Hero
WhaleDog at 15-05-2013 04:26 AM (10 years ago) (m)
Impoverished poverty ravaged north of Nigeria basically unproductive ,less industrialized ,less innovative and therefore waste of federal wealth distribution .Inability of the northern administrators to properly outline and address the region lackluster Society and introduction of vital mechanism of youth empowerment proves the northern presidential fundamental quality as unqualified to govern Nigeria ,the symbolic corrupt practices compounded Nigeria predicament and poverty ratio since it's birth is absolutely a vindication of the fact that does not exclude the northern political player and involvement in poor governance and lack of management .Since the birth of a nation ,they northern leaders presidential leadership outnumbered rest of the geo -political zone in federal state of Nigeria ,known for seizing power by military coup or corrupt electoral ballot process.
Spare me
Posted: at 15-05-2013 04:26 AM (10 years ago) | Gistmaniac
WhaleDog at 15-05-2013 04:55 AM (10 years ago) (m)
I simply can't understand why they northern politician so desperate pursuing presidential ambition knowing fully they lack the brilliancy for productive and accountability feature .In the best interest of Nigeria it will be wise if northern politician ascribed to agricultural ministry ,transport ministry Nd should be advised to excuse Nigeria presidential position for sometime ,giving the fact that they are ceremonial political leaders and not reformer or sustainable leaders.Nigeria haven't improved under northern leadership instead our colonial infrastructure were left to dilapidated beyond state of repair due to lack of management by nortthern presidential administration .
Spare me
Posted: at 15-05-2013 04:55 AM (10 years ago) | Gistmaniac
WhaleDog at 15-05-2013 05:27 AM (10 years ago) (m)
Evidence speaks for itself ,northern presidential administration in the past had contribute little but nothing all along,northern administrator of Nigeria is simply detrimental to the nation economy and overall development.
Spare me
Posted: at 15-05-2013 05:27 AM (10 years ago) | Gistmaniac
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