₦airaland Forum

valentineuwakwe:
The World Bank has said the number of Nigerians living in extreme poverty may increase by more than 30 million by 2030 and the country will be home to 25 per cent of the world ’ s destitute people if the government fails to revive economic growth and create jobs.
It warned that the country could slide back into recession if crude prices fell by 25 per cent to $50 a barrel .
The international oil benchmark, Brent crude , traded around $ 61 per barrel on Monday .
The bank gave the warning in its 2019 Nigeria Economic Update Report , which was released on Monday.
It said , “ Economic and demographic projections highlight the urgent need for reform .
“ With population growth (estimated at 2. 6 per cent) outpacing economic growth in a context of weak job creation , per capita income is falling . Today , an estimated 100 million Nigerians live on less than $1. 90 per day.
“ Close to 80 per cent of poor households are in northern Nigeria, while employment creation and income gains have been concentrated on central and southern Nigeria. ”
According to the report, Nigeria’s economy is expected to grow by 2. 1 per cent in 2020 and 2021, compared to an annual population growth rate of 2. 6 per cent .
It noted that Nigeria’ s economy was recovering gradually from the 2016 recession, with growth projected to pick up from 1. 9 per cent in 2018 to two per cent in 2019 .
The World Bank , however, warned that the projected growth outlook “ is vulnerable to external and domestic risks , including geopolitical and trade tensions that may affect inflows of private investment .”
“ Nigeria has the opportunity to advance reforms to mitigate these risks amid growing public demand for greater economic opportunities, ” it said .
The World Bank urged President Muhammadu Buhari to increase domestic revenue , remove trade restrictions and improve the predictability of economic policy .
It also advised the Nigerian government to remove expensive fuel subsidies and reduce lending to targeted sectors “ that crowd out banks .”
Failure to take actions would see more Nigerians falling into extreme poverty , the bank warned.
“ The cost of inaction is significant. Under a business -as- usual scenario, where Nigeria maintains the current pace of growth and employment levels , by 2030, the number of Nigerians living in extreme poverty could increase by more than 30 million , ” the bank said .
About 50 per cent of Nigeria’ s almost 200 million people live in poverty , according to the World Bank .
Last year , Nigeria overtook India as the country with the highest number of people in extreme poverty .

A report by the Brookings Institution said data from the World Poverty Clock showed that Nigeria had over 87 million people living in poverty.
The World Bank report, titled ‘ Jumpstarting Inclusive Growth: Unlocking the Productive Potential of Nigeria’ s People and Resource Endowments ’, showed that Nigeria created about 450, 000 new ( net) jobs in 2018 , partially offsetting the loss of 700 ,000 jobs in the previous year.
“ Nigeria’ s labour force is growing rapidly , and in 2018 , over five million Nigerians entered the labour market , resulting in 4. 9 million more unemployed people in the last year, ” it said .
The report stated that “ positive news are emerging from some states that are creating enough jobs to keep up with the growth of their labour forces . ”

Source: https://punchng.com/world-bank-to-fg-reform-now-to-stop-further-slide-into-extreme-poverty/

IT IS ONLY RESTRUCTURING OF OUR FEDERAL STRUCTURE THAT WILL SOLVE THIS PROBLEM COUPLED WITH A STRONG AND EFFECTIVE ANTI-CORRUPTION WAR.

Each States in the federation should carry their cross.

There should be no more breastfeeding of a spoilt child.

designking:
We have mentally lazy leaders who only grab power to just play politics and oppress opposition.

For the past 5 years of APC leadership, there has been less than 1million real jobs created.

What we need is to create the environment for entrepreneurs by providing the basic amenities even if they can't provide capital for its citizens.

We are still struggling with power and roads, water board doesn't function anymore every house has sunked a borehole.

Fews days back one of the ex governors of a northern state was complaining because the present isn't meeting up with the benefits he suppose to receive as an ex-governor; and what are the benefits 15milion naira (yearly I think) getting 2 cars which has to be change in every 4 years, vacation, medical trip for all the member of his family outside and within the country, this is a state that still owe workers' salary.

“ Close to 80 per cent of poor households are in northern Nigeria, while employment creation and income gains have been concentrated on central and southern Nigeria. ”


just imagine Nigeria without this people

wink2015:
IT IS ONLY RESTRUCTURING OF OUR FEDERAL STRUCTURE THAT WILL SOLVE THIS PROBLEM COUPLED WITH A STRONG AND EFFECTIVE ANTI-CORRUPTION WAR.

Each States in the federation should carry their cross.

There should be no more breastfeeding of a spoilt child.

Death penalty for corrupt leaders, they all are scared because they are corrupt.

Criticaltemp:
The effect of voting a dullard because of common 1500 naira.. You see we nigerian, we r doomed..

This one is selfish, clumsy and wolfish.

GeoAfrikana:
Chai lobatan.

Sincerely, our politicians aren't doing well.

But truth be told, all these world organizations don't have the goodwill of any African country at heart. The earlier you acknowledge this the sooner you start working towards your freedom.

APC don't know Values nor understand Reform.

No body is talking of reduction of some certain things in the Senate..
A senators salary and allowance can develop and feed some areas in Nigeria..
All they do is amass wealth for them selves and push things to private sector to do their bidding of creating jobs...

GEOANDSONS:
We need to start coming up with new and better economic policies.


Meanwhile, Still selling Hot Hot

Click link below

And you get that from Reforms and Restructuring.

iSlayer:
The World Bank is suggesting something against the increasing hardship in this country but already two people up there are saying Nigeria should do away with it. As if they have a better plan in the offing.

Zombies will be the death of Nigeria not IPOB or revolution now.

My brother e tire me. Bunch of mediocres

iSlayer:
The World Bank is suggesting something against the increasing hardship in this country but already two people up there are saying Nigeria should do away with it. As if they have a better plan in the offing.

Zombies will be the death of Nigeria not IPOB or revolution now.

Aswear...Nigerians are just too dumb

GeoAfrikana:
Chai lobatan.

Sincerely, our politicians aren't doing well.

But truth be told, all these world organizations don't have the goodwill of any African country at heart. The earlier you acknowledge this the sooner you start working towards your freedom.

When they advice you people, they are always not having your interest at heart but you know how to go and borrow money from them. Think before you type.

Dollarheist:
Follow world bank and imf advice at your own peril

World bank and IMF are advising and warning your zombies in power of the dangers ahead but you’re on Nairaland here shouting they should keep off...Do you even need World bank and IMF to tell you Nigeria is heading to doom.

I’m very sure you shouting World bank and INF don’t spend more than $1 per day. Smh

jahsharon:
Dear World Bank, past Nigeria's Presidents including IBB, Obasanjo, Goatluck who followed your evil directives to the letter, what was the outcome? Was it not tears, sorrows and suffering? Your polices are strategically planned to put Africa in perpetual slavery.

It seems that you people in World Bank are even suffering from amnesia, if not, you will remember that Buhari did not listen to your evil advice when he was Head of State in 1984, that was why you Europe and US instigated his overthrow. Buhari does nor forget, he won't listen to your evil advice this time either.

The above is why Buhari has been doing all his government business transactions with China, India and Russia and not with you evil Europe and US. You EU and US give fake loans to Africa and also help evil Africa politicians to keep over 90% of these fake loans in your banks when the politicians steal the money. China does not give loans in cash, instead China will build the infrastructure with and for Africans. No single kobo or dollar will touch the hands of the politicians.

China's policy of not giving cash but building infrastructure. with Africa is why the Kaduna-Abuja Railway has been completed, the Ajaokuta-Itakpe-Warri Railway has be completed, the Lagos-Abeokuta-Ibadan Railway is almost completed, the Lagos-Ibadan Expressway is almost completed, the Oyo-Ogbomosi Expressway is almost completed. What did Africa and Nigeria do with all the loans and advice that World Bank has been giving since time immemorial? The money is in banks in EU and US stolen by Africa's politicians.

Therefore, World Bank, EU, US, please shut the fucvk up. Buhari no send una. He is doing business with China, India and Russia.

Advising Nigeria to reform its economy and stating the obvious about Nigeria is evil advise??

I see you think from your ass...smh

chronique:
When they advice you people, they are always not having your interest at heart but you know how to go and borrow money from them. Think before you type.

After they wreck our economy finish, they'll now ask us to borrow interest money. And fact is, interest based money doesn't help the poor in any way. It only makes the rich richer without any stress.

Do you really believe that America and Europe want Africa to develop?

chronique:
When they advice you people, they are always not having your interest at heart but you know how to go and borrow money from them. Think before you type.

Na the thing wee, tire me with many Nigerians. They want IMF money but not the advice?

Does a beggar have a choice? Which rich man will loan you money without you listing what you need the loan for and how you are going to use it judiciously?


We aren't serious in this country.

GO TO ARAB NATIONS, ASIA, NORTH TO SOUTH AMERICA ETC WHERE GOD HAS BLESSED THEM WITH OIL AND SEE WHAT THEIR LEADERS HAVE BEEN ABLE TO DO IN TERMS OF DEVELOPMENT. THESE LEADERS ARE NOT ANGELS. THEY TRAVEL, THEY LEARNED, THEY HAVE VISION, SELFLESS LEADERS. UNLIKE NIGERIA WHO HAVE NO VISION - GREEDY, THIEVES, EVIL CABALS, REPS OF SATAN, IF NOT ME, NO ONE ELSE ATTITUDE. TO US HERE IN NIGERIA THE CRUDE OIL IS A CURSE COMMODITY THEREFORE GOD SEND DOWN DROUGHT, FIRE, BRIMSTONE TO DRY UP THE CRUDE OIL.

grandstar:
This speech should be directed at Buhari alone. Remove him today and replace him with Osibanjo and things will improve economically.

Buhari lacks the intellectual capacity. His limited education is decimating the economy

I heard that one time buhari and left Osibanjo in charge , there was a turnaround in Nigerias economy.

I see from this thread that there is general mistrust for the world bank and IMF.

I see from my years within and outside Nigeria that there is a greater mistrust for other Nigerians than foreign institutions.

The important question is this - is their advice wrong or right, or is poverty now the norm? Do we enjoy loving in poverty?

I would simply say this. Firstly, listen to their advice and reform because this is the only way to avoid further catastrophe.

Secondly, Nigeria is staying put and poor without reforms to every sector of government and public life which can only be achieved by having constitutional reform. (Not talking about secession)

I've said it before and I'll say it again. Nigerians seem to be allergic to reform and those who are able to enact reform act like it's an antisocial exercise.

How else are you going to evolve and adapt as a body if you don't introspect and make necessary changes over time in a changing world.

iSlayer:
The World Bank is suggesting something against the increasing hardship in this country but already two people up there are saying Nigeria should do away with it. As if they have a better plan in the offing.

Zombies will be the death of Nigeria not IPOB or revolution now.

you should know in the pit latrine we have a whole lot of nitwits.

jahsharon:
Dear World Bank, past Nigeria's Presidents including IBB, Obasanjo, Goatluck who followed your evil directives to the letter, what was the outcome? Was it not tears, sorrows and suffering? Your polices are strategically planned to put Africa in perpetual slavery.

It seems that you people in World Bank are even suffering from amnesia, if not, you will remember that Buhari did not listen to your evil advice when he was Head of State in 1984, that was why you Europe and US instigated his overthrow. Buhari does nor forget, he won't listen to your evil advice this time either.

The above is why Buhari has been doing all his government business transactions with China, India and Russia and not with you evil Europe and US. You EU and US give fake loans to Africa and also help evil Africa politicians to keep over 90% of these fake loans in your banks when the politicians steal the money. China does not give loans in cash, instead China will build the infrastructure with and for Africans. No single kobo or dollar will touch the hands of the politicians.

China's policy of not giving cash but building infrastructure. with Africa is why the Kaduna-Abuja Railway has been completed, the Ajaokuta-Itakpe-Warri Railway has be completed, the Lagos-Abeokuta-Ibadan Railway is almost completed, the Lagos-Ibadan Expressway is almost completed, the Oyo-Ogbomosi Expressway is almost completed. What did Africa and Nigeria do with all the loans and advice that World Bank has been giving since time immemorial? The money is in banks in EU and US stolen by Africa's politicians.

Therefore, World Bank, EU, US, please shut the fucvk up. Buhari no send una. He is doing business with China, India and Russia.

The thing about borrowing to develop infrastructure is that the debt has to be paid, how do we intend to service the debt we owe at our present GDP growth? We need to invest in the creation of business enterprises, that will create wealth that we can use to service debt. I expected that this government should have come up with something like operation 1 million new businesses, were they help entrepreneurs in initial setup, they can uses the #50 stamp duty collected as venture capital for these business.

Instead they want to increase VAT, which by the way they are doing to convince creditors that they can service their debts.

My president is thinking about legacy, but forgetting that great leaders are not remembered for the roads or rails they built, they are rather remembered for their policies and institution they helped strengthen.

why is world bank making it look as if Nigerians were rich before, abeg make them let us be jare.

valentineuwakwe:
The World Bank has said the number of Nigerians living in extreme poverty may increase by more than 30 million by 2030 and the country will be home to 25 per cent of the world ’ s destitute people if the government fails to revive economic growth and create jobs.
It warned that the country could slide back into recession if crude prices fell by 25 per cent to $50 a barrel .
The international oil benchmark, Brent crude , traded around $ 61 per barrel on Monday .
The bank gave the warning in its 2019 Nigeria Economic Update Report , which was released on Monday.
It said , “ Economic and demographic projections highlight the urgent need for reform .
“ With population growth (estimated at 2. 6 per cent) outpacing economic growth in a context of weak job creation , per capita income is falling . Today , an estimated 100 million Nigerians live on less than $1. 90 per day.
“ Close to 80 per cent of poor households are in northern Nigeria, while employment creation and income gains have been concentrated on central and southern Nigeria. ”
According to the report, Nigeria’s economy is expected to grow by 2. 1 per cent in 2020 and 2021, compared to an annual population growth rate of 2. 6 per cent .
It noted that Nigeria’ s economy was recovering gradually from the 2016 recession, with growth projected to pick up from 1. 9 per cent in 2018 to two per cent in 2019 .
The World Bank , however, warned that the projected growth outlook “ is vulnerable to external and domestic risks , including geopolitical and trade tensions that may affect inflows of private investment .”
“ Nigeria has the opportunity to advance reforms to mitigate these risks amid growing public demand for greater economic opportunities, ” it said .
The World Bank urged President Muhammadu Buhari to increase domestic revenue , remove trade restrictions and improve the predictability of economic policy .
It also advised the Nigerian government to remove expensive fuel subsidies and reduce lending to targeted sectors “ that crowd out banks .”
Failure to take actions would see more Nigerians falling into extreme poverty , the bank warned.
“ The cost of inaction is significant. Under a business -as- usual scenario, where Nigeria maintains the current pace of growth and employment levels , by 2030, the number of Nigerians living in extreme poverty could increase by more than 30 million , ” the bank said .
About 50 per cent of Nigeria’ s almost 200 million people live in poverty , according to the World Bank .
Last year , Nigeria overtook India as the country with the highest number of people in extreme poverty .

A report by the Brookings Institution said data from the World Poverty Clock showed that Nigeria had over 87 million people living in poverty.
The World Bank report, titled ‘ Jumpstarting Inclusive Growth: Unlocking the Productive Potential of Nigeria’ s People and Resource Endowments ’, showed that Nigeria created about 450, 000 new ( net) jobs in 2018 , partially offsetting the loss of 700 ,000 jobs in the previous year.
“ Nigeria’ s labour force is growing rapidly , and in 2018 , over five million Nigerians entered the labour market , resulting in 4. 9 million more unemployed people in the last year, ” it said .
The report stated that “ positive news are emerging from some states that are creating enough jobs to keep up with the growth of their labour forces . ”

Source: https://punchng.com/world-bank-to-fg-reform-now-to-stop-further-slide-into-extreme-poverty/

Close to 80 per cent of poor households are in northern Nigeria, while employment creation and income gains have been concentrated on central and southern Nigeria. ” who did this calculation and where is wealth and employment creation in the southern part? north keep making world to believe they are poor while they know all the information's are wrong.

You are doomed. Thank you

Criticaltemp:
The effect of voting a dullard because of common 1500 naira.. You see we nigerian, we r doomed..

jahsharon:
Dear World Bank, past Nigeria's Presidents including IBB, Obasanjo, Goatluck who followed your evil directives to the letter, what was the outcome? Was it not tears, sorrows and suffering? Your polices are strategically planned to put Africa in perpetual slavery.

It seems that you people in World Bank are even suffering from amnesia, if not, you will remember that Buhari did not listen to your evil advice when he was Head of State in 1984, that was why you Europe and US instigated his overthrow. Buhari does nor forget, he won't listen to your evil advice this time either.

The above is why Buhari has been doing all his government business transactions with China, India and Russia and not with you evil Europe and US. You EU and US give fake loans to Africa and also help evil Africa politicians to keep over 90% of these fake loans in your banks when the politicians steal the money. China does not give loans in cash, instead China will build the infrastructure with and for Africans. No single kobo or dollar will touch the hands of the politicians.

China's policy of not giving cash but building infrastructure. with Africa is why the Kaduna-Abuja Railway has been completed, the Ajaokuta-Itakpe-Warri Railway has be completed, the Lagos-Abeokuta-Ibadan Railway is almost completed, the Lagos-Ibadan Expressway is almost completed, the Oyo-Ogbomosi Expressway is almost completed. What did Africa and Nigeria do with all the loans and advice that World Bank has been giving since time immemorial? The money is in banks in EU and US stolen by Africa's politicians.

Therefore, World Bank, EU, US, please shut the fucvk up. Buhari no send una. He is doing business with China, India and Russia.

You are on point.
But we now know that Transportation University in Daura,another proposed University in Mr Braitai's town and another in Air force man's town of Borno: who pays for it? why are they situated in the North alone without considering other Regions?
Do we need them now?.Are they not politically motivated to the disadvantages of the rest of Nigerians?.Those are the worries of World Bank and it's Agencies and the are genuine because so much funds will be involved .

jahsharon:
Dear World Bank, past Nigeria's Presidents including IBB, Obasanjo, Goatluck who followed your evil directives to the letter, what was the outcome? Was it not tears, sorrows and suffering? Your polices are strategically planned to put Africa in perpetual slavery.

It seems that you people in World Bank are even suffering from amnesia, if not, you will remember that Buhari did not listen to your evil advice when he was Head of State in 1984, that was why you Europe and US instigated his overthrow. Buhari does nor forget, he won't listen to your evil advice this time either.

The above is why Buhari has been doing all his government business transactions with China, India and Russia and not with you evil Europe and US. You EU and US give fake loans to Africa and also help evil Africa politicians to keep over 90% of these fake loans in your banks when the politicians steal the money. China does not give loans in cash, instead China will build the infrastructure with and for Africans. No single kobo or dollar will touch the hands of the politicians.

China's policy of not giving cash but building infrastructure. with Africa is why the Kaduna-Abuja Railway has been completed, the Ajaokuta-Itakpe-Warri Railway has be completed, the Lagos-Abeokuta-Ibadan Railway is almost completed, the Lagos-Ibadan Expressway is almost completed, the Oyo-Ogbomosi Expressway is almost completed. What did Africa and Nigeria do with all the loans and advice that World Bank has been giving since time immemorial? The money is in banks in EU and US stolen by Africa's politicians.

Therefore, World Bank, EU, US, please shut the fucvk up. Buhari no send una. He is doing business with China, India and Russia.

l

Well said!!... Though I am not a supporter of Buhari and some of his backward policies.

Many of you guys just criticizing based on sentiment.
Shameless of a thing.

orisa37:
To allow you finish the other Tribes?

Okay.

Theboss100:
Stop deceiving urself. Nothing has changed since apc took over. Its been worse. Buhari and apc mission is to destroy our economy. Ur president and his 40 thieves (cabals) are clueless ineffectual buffons.

johnmartus:
World bank and IMF should keep off from Nigeria.

Dustbin brain like yours won't see anything good in this life

Why is OBJ so quiet lately?

designking:
We have mentally lazy leaders who only grab power to just play politics and oppress opposition.

For the past 5 years of APC leadership, there has been less than 1million real jobs created.

Only God knows how many job loses people suffered during the period.

nototribalist:
APC government has already put hundreds of Keke and Uber drivers in Abuja out of Jobs already. The suffering in FCT no be here

What are they doing there? That place is not for their type, it's for the high and mighty.

greenguy:
So that Buhari can do what he hasn't done in five years abi? Clap for yourself.



So they should keep borrowing to fund subsidy, to keep repairing refineries that has never achieved 30% capacity since Obasanjo's government started pumping billions of dollars into it. The same ones Kachukwu and Buhari spent even unprecedented amount on and told us it will be at full capacity in 2017? Or the Ajaokuta steel company that they say is up and running but working below capacity? Or are you ignorant of the increasing level of poverty in the country?

What exactly is your problem, do you have sense at all?

Sense is far from you with your dull brain from a dull generation.
APC zombie like you.