Research Document: Achieving Shared Prosperity in Nigeria - Four Critical Themes


Special Reports

Posted Mon, May 8, 2023 12:44 PM

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The Nigerian economy narrative is summarized by economic growth that does not translate into an improved standard of living for its citizens. In this regard, unemployment and poverty have been rising amidst economic growth, leading to high-income disparity. This situation is a fallout of skewed sectors' performance in favour of sectors that contribute less than 5 percent of Gross Domestic Product (GDP), macroeconomic instability and institutional deficiencies, amongst others.

Additionally, recent data released by the NBS showed that 62.9 percent (133 million) of its population is estimated to live in multidimensional poverty. Therefore, there is a dire need for shared prosperity in Nigeria.

 

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