Government Investments in Infrastructure Lift 10 Million Nigerians Out of Multidimensional Poverty

Strategic Insights -

The government's commitment to infrastructure development has led to a significant reduction in multidimensional poverty, with estimates suggesting that over 10 million Nigerians have been lifted out of this condition. The Special Adviser to the Presidency on Economic Matters, Tope Fasua, attributes this progress to the administration's investments in infrastructure, which he believes is essential for addressing multidimensional poverty. Despite the absence of updated data since 2022, Fasua's calculations indicate that the number of Nigerians living in multidimensional poverty has dropped significantly, with some estimates suggesting it could be as low as 120 million.

Key Takeaways:

  • Over 10 million Nigerians have been lifted out of multidimensional poverty according to estimates by Tope Fasua, Special Adviser to the Presidency on Economic Matters.
  • Multidimensional poverty is defined as non-debt, non-income poverty, and poverty relating to the availability of basic infrastructure.
  • Infrastructure development is central to reducing multidimensional poverty, with investments in roads, bridges, power infrastructure, water, schools, education, and health being crucial.
  • The last updated multidimensional poverty data is from 2022, with Fasua estimating that by now, a significant number of people could have been taken out of multidimensional poverty.
  • Fasua's calculations suggest that the number of people living in multidimensional poverty could be as low as 120 million or even lower.
  • The administration of President Bola Ahmed Tinubu's continued investments in infrastructure are key to sustaining this progress and further reducing poverty levels in the country.

Statistics:

  • Over 10 million Nigerians have been lifted out of multidimensional poverty.
  • Multidimensional poverty data has not been updated since 2022.
  • Fasua estimates that the number of people living in multidimensional poverty could be as low as 120 million or even lower.
  • The administration has invested significantly in infrastructure development, including roads, bridges, power infrastructure, water, schools, education, and health.

Sources:

  • Channels interview with Tope Fasua, Special Adviser to the Presidency on Economic Matters (no date mentioned)