Shocking data obtained by the World Bank reveals that over 10 million Nigerians have slipped into poverty within the last eight years under the rule of the All Progressives Congress (APC).
Since taking office in May 2015, President Muhammadu Buhari’s tenure has seen a significant rise in poverty levels. The World Bank’s recent Nigeria Development Update report confirms that an additional four million Nigerians fell into poverty during the first five months of 2023 alone.
The country’s unemployment rate also escalated to 33% in 2020, and two recessions in 2016 and 2020 further exacerbated the economic woes.
Despite previous efforts to address poverty, including the establishment of the National Poverty Reduction with Growth Strategy, the situation remains dire, with millions still trapped in multidimensional poverty.