Deep Structural Reforms Urgently Needed to Lift Millions of Nigerians Out of Poverty, W’Bank Insists


4352810e world bank

Obinna Chima

The World Bank has identified sluggish growth, low human capital, labor market weaknesses and exposure to shocks as factors holding Nigeria’s poverty reduction back.

The Washington-based institution stated this in its latest report titled: “A Better Future for All Nigerians: Nigeria Poverty Assessment 2022,” obtained yesterday.

The report represented the culmination of the World Bank’s engagement on poverty- and inequality-relevant data and analytics in Nigeria in the past two years.

It drew primarily on the 2018/19 Nigerian Living Standards Survey (NLSS), which provided Nigeria’s first official poverty numbers in almost a decade, as well as the Nigeria COVID-19 National Longitudinal Phone Survey (NLPS).

The surveys were implemented by Nigeria’s National Bureau of Statistics (NBS) in collaboration with the World Bank.

According to the report, which brought together the latest evidence on the…

Source: Thisday Newspaper