Ahmed Dangiwa, the Minister of Housing and Urban Development, highlighted concerning statistics about Nigeria's economic situation.
He noted that nearly half of Nigeria's population, which exceeds 200 million, faces poverty and limited purchasing power.
Specifically, out of 43 million households, over 85% possess purchasing power of less than N1.1 million.
Among these households, 40% (approximately 17.2 million) belong to the poverty income group, while 47% (about 20.2 million) are in the low-income group.
Overall, the data indicate that Nigeria is a low-income country, with only 13% of its population considered middle class.
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