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.