Despite economic growth, 40% of Nigerians still live below poverty line, says Minister

The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has disclosed that despite Nigeria’s recent economic growth, approximately 40% of its citizens continue to live below the poverty line. 

He said this at the opening of a one-day high-level stakeholders’ dialogue on operationalising the Multidimensional Poverty Index (MPI) in Nigeria.

Bagudu highlighted the complex challenges Nigeria faces in addressing poverty, given its diverse population and regions. 

“When we apply the MPI, this percentage often reveals deeper, multidimensional aspects of deprivation,” he noted.

He emphasised that the MPI integrates various concerns into a single measure.

According to him, MPI  focuses on people who are being left behind in multiple Sustainable Development Goals (SDGs) simultaneously.

The Minister  asserted that the government remains committed to supporting the MPI through the National Poverty Reduction with Growth Strategy (NPRGS) and the eight-priority areas of President Bola Tinubu’s administration.

The operationalisation of the MPI, according to Bagudu, is a call to action for stakeholders to adopt a holistic approach to poverty reduction, recognizing the interconnected deprivations that affect millions of Nigerians.

“Leveraging the MPI, we can craft informed, targeted, and effective policies that address the root causes of poverty and promote sustainable development,” Bagudu said. 

He urged stakeholders to commit to this transformative journey with determination and unity, aiming to create a Nigeria where every individual can thrive, and no one is left behind.

The MPI is a key project of the NPRGS, launched in 2021 as part of the federal government’s effort to eradicate extreme poverty and accelerate human capital growth. 

The 10-year programme aims to sustain poverty reduction through economic growth and consistent implementation of social protection programs.

Launched in 2022, the MPI represents a shift from traditional income-based poverty measurements.

It was developed through collaboration between the National Bureau of Statistics (NBS), United Nations Development Programme (UNDP), Oxford Poverty and Human Development Initiative (OPHI), and other key stakeholders.