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Home > sub-Saharan Africa
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sub-Saharan Africa

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Revealed! Nigeria Lost 50% of Her Youths, World Bank

by Leading Reporters July 25, 2021
written by Leading Reporters

Seeking to secure their future in a land with a viable economy and favourable economic conditions, it has been revealed that half of the Nigerian youths are seeking to travel out of the country.

According to the World Bank, an increasing number of Nigerian youths are planning to leave the country in search of greener pastures. This was revealed by the World Bank in a study titled “Of Roads Less Traveled: Assessing the Potential for Migration to Provide Overseas Jobs for Nigeria’s Youth,” which was released on the website of the World Bank this week.

future in a land with a viable economy and favourable economic conditions, it has been revealed that half of the Nigerian youths are seeking to travel out of the country.

According to the World Bank, an increasing number of Nigerian youths are planning to leave the country in search of greener pastures. This was revealed by the World Bank in a study titled “Of Roads Less Traveled: Assessing the Potential for Migration to Provide Overseas Jobs for Nigeria’s Youth,” which was released on the website of the World Bank this week.


Among the nations polled, Nigeria ranked third just behind Liberia (70 per cent) and Sierra Leone (60 per cent) in terms of respondents looking to permanently relocate to another country. Niger Republic came in at 10% ranking lowest in the study

The study revealed further that Nigerians were the largest group of migrants from Sub-Saharan Africa entering Europe in 2016 and 2017, with almost 40,000 migrants landing in Italy in 2016, and over 90% arriving by sea.

“With rising migratory pressures created by poor employment conditions, Nigerians are increasingly choosing to migrate through irregular means,” the World Bank said.

“A larger number of Nigerian migrants arriving in Italy were women (32 per cent) more than migrants from the rest of Sub-Saharan Africa (24 per cent),” the bank stated.

“However, the underlying economic and demographic factors that create migratory pressures are unlikely to subside in the near future, with other potential irregular routes being reported through Sudan and Chad to Libya” it noted.

I Have Done My Best For Nigeria On Poverty And Insecurity, Buhari Insists

With the current insecurity and growing poverty in Nigeria, President Muhammadu has said that he has done his best to rescue the country’s situation. This is as the President met with some members of the All Progressives Congress (APC) on Thursday. In a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, Buhari made this known when he hosted some APC governors at his hometown in Daura, Katsina state.

According to Buhari, things were worse at the time he assumed power in 2015. He also added the security situation in the North-East had improved compared to what was happening there before 2015 when some parts of the region were being controlled by terrorists. He noted that he had to change the security chiefs and did what was necessary to achieve a level of security.

July 25, 2021 0 comments
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Headlines

Nigeria economic growth lags Africa, poverty rising

by Leading Reporters June 16, 2021
written by Leading Reporters

Nigerian economic growth has resumed after the COVID shock but is lagging the rest of sub-Saharan Africa, with food inflation, heightened insecurity and stalled reforms slowing growth and increasing poverty, the World Bank said on Tuesday.

Presenting its six-monthly update on development in Africa’s most populous country, the organisation gave a GDP growth forecast for Nigeria of 1.9% in 2021 and 2.1% in 2022, compared with 3.4% this year and 4.0% next year for sub-Saharan Africa.

He said the COVID-induced crisis was expected to push over 11 million Nigerians into poverty by 2022, taking the total number of people classified as poor in the country to over 100 million. The total population is estimated at 200 million.

The World Bank expects the Nigerian inflation rate in 2021 to be 16.5%. The forecast for sub-Saharan Africa, excluding Nigeria, is 5.9%.

Hernandez said increased insecurity across the nation — ranging from mass abductions at schools, kidnappings for ransom, armed conflict between herdsmen and farmers, armed robberies and various insurgencies — was a drag on growth and job creation.

He said it was critical for the government to maintain reform momentum, but that some important reforms had stalled

He cited petrol subsidies, which have recently returned after the government had established a market-based pricing mechanism, and electricity tariff reform, an area where planned adjustments to bring prices in line with costs have been paused.

Hernandez said Nigeria had the largest number of people without access to electricity in the world, and that electricity subsidies benefited mainly richer households.

Only 22% of the poorest households have access to electricity, while 82% of the richest are able to access power.

June 16, 2021 0 comments
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