Despite implementing tough economic reforms, Nigeria's government under President Bola Ahmed Tinubu has struggled to alleviate high levels of poverty, according to the IMF. While recognizing steps taken to stabilize the economy, IMF mission chief Axel Schimmelpfennig noted that many Nigerians continue to experience poverty and food insecurity. Recent reports indicate that over half of Nigeria’s population lives below the poverty line. The socioeconomic challenges are exacerbated by inflation and a rising cost of living, raising concerns about the efficiency and impact of these reforms on the populace.
The Nigerian authorities have taken important steps to stabilize the economy, enhance resilience, and support growth. However, gains have yet to benefit all Nigerians as poverty and food insecurity remain high.
Over half of Nigeria's population, around 129 million people, are below the poverty line, and poverty rates have soared in the past six years.
Collection
[
|
...
]