VICE President Yemi Osinbajo has projected that about 25 million Nigerians will be lifted out of poverty before 2025.
Osinbajo disclosed this at the edition of the Nigerian Diaspora Investment Summit 2021 organized by the Nigerians in the Diaspora Commission (NiDCOM), according to NAN.
Osinabjo represented by the Secretary to the Government of the Federation, Boss Mustapha added that the summit, themed, “Partnership and Linkages for Post-COVID Economic Growth” would enable foreign investors to invest in the Nigerian economy.
“NDIS has been held annually for the past three years and this year we know that it has successfully attracted Diaspora investment into local businesses in the country,” he said.
He also revealed that President Buhari’s administration is committed to increasing per capita GDP in Nigeria, and also boosting employment, citing Nigeria’s GDP growth rate.
He stated: “The projected real GDP growth between 2021 and 2025 will ensure that 10 million people do not fall into poverty.
“An additional 25 million people will be taken out of poverty and ensuring that poverty rate will be at 31% by 2025, compared to 40% in 2020,” he said.
Recall that the World Bank, had in July, warned that rising inflation pushed an estimated seven million Nigerians below the poverty line in 2020 alone.
Meanwhile, in the most recent Poverty and Inequality report released by the National Bureau of Statistics, Nigerians that are poor have been estimated to be 82.9 million. The report also shows that 52.1% of rural dwellers in Nigeria are poor, while only 18.04% of urban dwellers are classified as poor.
According to NBS, on average, 4 out of 10 individuals in Nigeria have real per capita expenditures below N137,430 per year, which translates to N376.5 per day.
