Breaking

Under Buhari, 6 People Become Extremely Poor Every Minute – Brookings Institution Report

In a damning report of the Buhari economy at a time he is hell bent in seeking reelection, a report by the Brookings Institution reveals that Nigeria had about 87 million people in extreme poverty at the end of May 2018, increasing by six people every minute.

Nigeria has taken over as the nation with the highest number of extremely poor people in the whole wide world, according to the report.

This unenviable position confirms Nigeria, with a population of under 200 million, as the new poverty capital.

This comes after a report in March by the International Monetary Fund claims that Nigerians were getting poorer, calling for coherent and comprehensive economic reforms.

It will be recalled that when Buhari came to power in May 2015, he met the Nigerian economy as the fastest growing economy in Africa. However, within a very short time, he supervised the sliding of the economy into recession, which has negatively impacted on the citizens.

When Buhari came to power, the exchange rate was at N193 to $1, but three years of Buhari’s incompetence has ensured that it now exchanges for N365 to $1.

Categories: Breaking, News

Tagged as: , , , ,

1 reply »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.