World Bank says inflation dragged another seven million Nigerians into poverty

Inflation maintains moderate curve at 17.93% in May – NBS

World Bank says inflation dragged another seven million Nigerians into poverty     The number of Nigerians living below poverty line increased in 2020 by another seven million people who fell victims of rising cost of living triggered by spiking inflation in the country. The World Bank revealed this in a press statement titled ‘Critical reforms needed to reduce inflation and accelerate the recovery, says new World Bank report’ released by the bank’s Senior External Affairs Officer for Nigeria, Mansir Nasir, on Tuesday. The press statement was released in line…

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Sad! Why million more Nigerians will be poor in 2020

debt profile

  As global economy contracts by 5.2% The year 2020, being the turn of another decade, was expected to bring many fortunes due to individuals’ personal resolve to make the twin year worth everything. Little was it known that what the year has in stock were in sharp contrast with the high hope of businesses to grow their bottom line; aspirations of organizations to expand their influence and individuals’ dream to record landmark achievements. The Coronavirus pandemic had heralded an era of dashed hopes and despondency as the fallout of…

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