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“By 2030, a quarter of very poor people will be Nigerians, predicts the World Data Lab, which counts such things.”
“Where urgency is needed, Mr Buhari offers only caution. Few are holding their breath for any more drive in his second term, which began on May 29th.
“Yet officials are postponing a crisis, not averting one. Consider borrowing. The debt-to-GDP ratio is 28 per cent, but Nigeria collects so little in tax that interest payments swallow about 60 per cent of federal revenues,” the Magazine added.
The Economist said 2018 subsidy was worth at least 0.5 per cent of the GDP, almost what Nigeria’s federal government spent on health care.
“Politicians are scared to end the subsidy. An attempt to do so in 2012 led to massive protests.
“Although the government has expanded the school-feeding programme and is working on a safety net for the poor, most citizens get few benefits from the state,” it added.
Proffering solution, the Economist said the Buhari government should harness the potential of its 200 million citizens.
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