Daily Trust (Abuja)

Nigeria: Poverty Rate is Increasing - Economist

Head of Economics Department of the Ahmadu Bello University Zaria Dr. Mike Duru has said that poverty rate is rising in Nigeria.Dr. Duru who spoke to Daily Trust on phone said the quality of lives of Nigerians is falling. He described as misleading equating rise in Nigeria's Gross Domestic Product (GDP) to fall in poverty.

Provisional data from the National Bureau of Statistics (NBS) indicated that real GDP grew by 8.23 per cent in the fourth quarter of 2009, up from 4.50, 7.22 and 7.07 per cent in the first, second and third quarters.

But the overall GDP growth for 2009 was projected at 6.90, up from 5.98 in 2008; hence the non-oil sectors remain the major driver of the economy.

Dr. Duru also said other indicators showing rising poverty level in Nigeria include: unemployment, inflation and fuel scarcity.


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