The World Bank Vice President after a meeting with President Goodluck Jonathan on Tuesday disclosed that by the World Bank’s own criteria and assessment, the level of poverty in Nigeria had actually declined from 48 per cent to 46 per cent under the present administration.

He however noted that Nigeria’s GDP growth rate of eight per cent is not sufficient to reduce poverty in the country.

Mr Diop said the Nigerian government can further reduce poverty in the country by tackling the problem of inadequate electricity supply.

He stated that the World Bank would be releasing Nigeria’s economic report next month.

The report is based on the World Bank’s assessment of the Nigerian economy.

Meanwhile the federal government has reaffirmed its commitment to the implementation of all reforms considered necessary for accelerated economic growth, job creation and poverty alleviation in Nigeria.

President Goodluck Jonathan stated this when he received the World Bank’s Vice President for Africa, Mr. Mouktar Diop, on Tuesday in Abuja.

The President stated that although it was not easy to undertake certain reforms in an intensely political environment, the federal government under his leadership will continue to evolve and implement policies that will assure sustainable development and the long-term well-being of the nation.

Acknowledging Mr. Diop’s commendation of his administration’s stewardship of the Nigerian economy, the President said that with the continued support of the World Bank, other international institutions and investors the federal government will achieve an even higher growth rate for the national economy.

The President said that Nigeria will particularly welcome more support from the World Bank for the concluding stages of its power sector reforms especially for the speedy resolution of labour issues and other matters related to the on-going privatization of the sector.

Mr. Diop commended on-going reforms in the country and the management of the Nigerian economy by the Jonathan Administration which he said had made Nigeria one of the fastest growing emerging economies in the world in spite of the current global recession.

Speaking to state house correspondents after the meeting Mr. Diop assured President Jonathan that the World Bank will “use all instruments available to it” to support Nigeria’s power sector reforms, saying that he had a clear brief from the bank’s President to give all necessary support for the reforms.

http://www.channelstv.com/home/2013/01/15/nigerias-poverty-level-falls-by-2-world-banks-vp/

Okay . . . .

the level of poverty in Nigeria had actually declined from 48 per cent to 46 per cent under the present administration.

He however noted that Nigeria’s GDP growth rate of eight per cent is not sufficient to reduce poverty in the country.

@Bolded

So Mr. World Bank, in essence you're saying....

Poverty data in Nigeria is by the National Bureau of Statistics and at the last count in 2010 the NBS puts it at 69% so which "own criteria and assessment" did Mr Diop use in reaching his conclusion?

Let's be clear, was he referring to poor and very poor, poor alone or very poor alone. Nigerian Journalists really need to step up their game, the news report is watery.

ballabriggs: Poverty data in Nigeria is by the National Bureau of Statistics and at the last count in 2010 the NBS puts it at 69% so which "own criteria and assessment" did Mr Diop use in reaching his conclusion?

Let's be clear, was he referring to poor and very poor, poor alone or very poor alone. Nigerian Journalists really need to step up their game, the news report is watery.

The new 2012 figures from NBS is i believe 60.9%, which like dis World Bank 'report' indicates a slight decline in d overall poverty rate within d 2-yr period. Unemployment rate also similarly decreasd. The NBS uses both Relative and Absolute Poverty rates though... I agree that d journalists reporting this ought to hv done a much beta job at explaining; there are many things i still dont undastad myself..

I hope Mr Diop is not playing to the gallery and giving one of their own(NOI) a pat on d back.
Is it that poverty reduced among politicians and their cronies or the reduction translates to the common man?
I know that for the rest of January, GEJ's speech anywhere and everywhr will be laced with the world bank's 'commendation' . "even the world bank, recognise what we are doing in govt and recently said that..."

utumunta: I hope Mr Diop is not playing to the gallery and giving one of their own(NOI) a pat on d back.
Is it that poverty reduced among politicians and their cronies or the reduction translates to the common man?
I know that for the rest of January, GEJ's speech anywhere and everywhr will be laced with the world bank's 'commendation' . "even the world bank, recognise what we are doing in govt and recently said that..."

Why wont he say that. If the data was in d diff direction, wudn't u guys be writing useless articles bombarding the nation about hw he had pluggd Nigerians to more poverty? If d data was NEGATIVE, wudn't u guys be celebrating it by now? The data from d World bank and NBS show that poverty rate is in a DECLINING position in d 2-yr period unda GEJ afta increasing for sm yrs b4 he became President- DEAL WITH IT..... At least on NL, none of u goons wud eva with a straight face that Poverty and Unemployment rates are increasing, except also admitting dat such data was pulld up yr azzes...

taharqa: Why wont he say that. If the data was in d diff direction, wudn't u guys be writing useless articles bombarding the nation about hw he had pluggd Nigerians to more poverty? If d data was NEGATIVE, wudn't u guys be celebrating it by now? The data from d World bank and NBS show that poverty rate is in a DECLINING position in d 2-yr period unda GEJ afta increasing for sm yrs b4 he became President- DEAL WITH IT..... At least on NL, none of u goons wud eva with a straight face that Poverty and Unemployment rates are increasing, except also admitting dat such data was pulld up yr azzes...

Sorry if I am not comfortable enough with these Bretton Woods institutions. Can you please explain to me what the government has done right to have a reduction in poverty and unemployment rates? The economic growth we are experiencing is due to the increase in the international price of crude oil and increase in crude oil production but it hasn't improved our human capital development index. I'll like to know the indicators for you to conclude that this government has made a considerable impact in human capital development.