Thursday, December 2News That Matters

Buhari sets record as Nigerians grow poorer for sixth straight year

Tunde Bakare

At no point in its 60-year history has Nigeria’s economy expanded slower than its population for a longer period than between 2015 and 2020, an indictment on President Muhammadu Buhari who has led the country in that time. With data from the National Bureau of Statistics (NBS) showing a 1.9-percent contraction in 2020, it means Africa’s largest economy has now failed to match its average population growth rate of 2.6 percent for six years. When economic growth fails to match population growth it means the economy is not creating new opportunities to accommodate a fast-rising population, and is a sign of worsening poverty levels.

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