Senator Ali Ndume, representing Borno South, has shared a video showing mile-long queues of Nigerians outside President Bola Tinubu’s Bourdillon residence in Lagos on Christmas Eve, waiting for palliatives. The senator posted the video on his X handle, emphasizing that poverty transcends ethnicity, religion, and regional boundaries, calling for urgent collective action to address the issue.
“Queues for presidential handouts at Bourdillon on Christmas Eve highlight a sobering reality. Poverty knows no tribe, religion, politics, or region. It is a universal challenge that demands collective action and sustainable solutions,” Senator Ndume stated in his post.
The video comes amidst growing concerns about the country’s rising poverty levels, exacerbated by recent deadly stampedes during palliative distributions. Tragic incidents in Oyo, the Federal Capital Territory (FCT) and Anambra, that claimed at least 60 lives. Despite these challenges, President Tinubu has continued his longstanding tradition of providing assistance to the poor during festive periods.
Senator Ndume’s remarks point to a troubling trend of increasing poverty in the southern region, paralleling the Almajiri-driven poverty in the North. He attributed this rise to the president’s economic policies since assuming office on May 29, 2024.
Data from the World Bank’s December 2023 Nigeria Development Update, titled ‘Turning the Corner: From Reforms & Renewed Hope, to Results,’ reveals that the poverty rate in Nigeria surged from 40% in 2018 to 46% in 2023. This translates to an increase from 79 million to 104 million people living below the national poverty line, driven by sluggish economic growth and rising inflation.
Despite this grim reality, President Tinubu, in a media chat on Tuesday, urged Nigerians to “manage” the situation. His remarks, however, sparked criticism, as reports indicate he acquired a luxury Airbus A330 aircraft, a yacht, and a bulletproof Escalade shortly after assuming office.
Senator Ndume’s video and statement underscore the urgent need for sustainable solutions to Nigeria’s deepening poverty crisis, transcending regional and ethnic divides.
The World Bank’s December 2023 Nigeria Development Update, titled “Turning the Corner: From Reforms and Renewed Hope, to Results,” provides an in-depth analysis of Nigeria’s recent economic reforms and their implications. World Bank.
Key Highlights:
- Critical Reforms Implemented: In May and June 2023, Nigeria’s administration enacted significant policy changes to avert a looming fiscal crisis. These included the removal of petrol subsidies and reforms in foreign exchange (FX) management. The subsidy removal led to price adjustments, while FX reforms aimed to unify and enhance the transparency of exchange rates.
World Bank - Temporary Compensation Measures: To mitigate the impact of these reforms on vulnerable populations, the government introduced targeted cash transfers. By December 2023, the program aimed to support 5 million households, providing relief amid rising gasoline prices.
World Bank - Economic Indicators: Despite these efforts, challenges persist. Inflation reached a record high of 27.3% year-over-year in October 2023, partly due to the subsidy removal. This surge has disproportionately affected poor and vulnerable citizens, underscoring the need for sustained reform implementation and complementary actions to stabilize the economy.
World Bank - Poverty Rates: The report highlights a concerning increase in poverty levels, with the rate rising from 40% in 2018 to 46% in 2023. This translates to an additional 24 million Nigerians falling below the national poverty line, bringing the total to approximately 104 million people. Factors contributing to this rise include sluggish economic growth and escalating inflation.
World Bank
More Read
The Nigeria Development Update emphasizes that while the recent reforms are pivotal for economic stabilization, their success hinges on full implementation and the adoption of complementary measures. Addressing the immediate challenges posed by these reforms, particularly the adverse effects on vulnerable populations, is crucial for Nigeria to achieve sustainable economic growth and development.
