Nigeria Next To India In Number Of People Trapped Below Poverty Line – Yemi Kale

Nigeria has emerged as the country with the second largest population of poor people in the world, according to Yemi Kale, former head of the National Bureau of Statistics (NBS).

Kale said no fewer than 89 million Nigerians were living in poverty, representing about 40 percent of the nation’s population.

He spoke during his presentation at The Platform Nigeria’s Independence Day event in Lagos.

The former statistician general delivered a sobering assessment of the country’s economic path.

Kale, who now serves as Group Chief Economist at Afreximbank, said only India surpasses Nigeria in the number of citizens trapped below the poverty line.

He noted that the figure is larger than the total population of most countries in the world.

“The reality is stark. Fewer than 20 of the world’s 195 recognised countries even have a population bigger than Nigeria’s number of poor,” Kale told participants.

The economist said years of delayed reforms and policy mistakes pushed millions into hardship and left households exposed to inflation and fiscal pressures.

He explained that corrective measures now being pursued should have started more than ten years ago when signs of decline were visible.

According to him, the failure to act early eroded investor confidence, limited growth, and weakened the economy’s ability to create jobs.

Kale admitted that the reforms currently underway are painful but argued that they are necessary to reposition the country.

“There is really no credible alternative. The question is how to make the process as humane and well sequenced as possible,” he said.

He urged the government to combine reform measures with stronger social safety nets to cushion vulnerable Nigerians from avoidable suffering.

Kale emphasised that consistency, transparency, and integrity in execution will be key in transforming Nigeria’s economic potential into shared prosperity. (Daily trust)