Nigerians Are Growing Poorer For The First Time Since 1999 – World Bank/IMF Report

0
144
Nigerians Growing Poorer For the First Since 1999.
(NIGERIA MOMENT).

According to World Bank and IMF report and published by Business Day, Nigerians are growing poorer for the first time since the return to democracy in 1999 as an economic slowdown combines with still high population growth rates to curb income per capita.

Average income in Nigeria falls by 18% in 2015 to $2,555 per annum, from over $3000 in 2014, according to the World Bank/IMF report.

Growth in the Africa’s largest economy has been slowing as oil prices fell by more than 50% between 2014 and 2015.

——-

BusinessDay Report.

Nigerians Growing Poorer For the First Since 1999.
Nigerians Growing Poorer For the First Since 1999.

NO COMMENTS