Director of Public Sector Initiative, Lagos Business School, Franklin Ngwu, says at least 140 million Nigerians will be described as poor in 2026 despite the reform by the President Bola Tinubu\u2019s administration, particularly the issue of foreign exchange floating.<\/p>\n
Speaking during an interview on Arise Television\u2019s \u2018Prime Time\u2019 on Monday, Ngwu said unemployment is going up.<\/p>\n
\u201cI think the way to look at it is maybe to look at key economic indicators before and after. But in terms of, did we need reform? Yes, we needed reforms.<\/p>\n
\u201cAnother issue is the way the reforms were implemented, basically looking at fuel subsidy removal and then foreign exchange, I mean, other reforms follow that.<\/p>\n
\u201cSo if we look at key economic indicators; unemployment, how are we doing at the moment? it\u2019s rising. Poverty, is it going down or going up? It\u2019s increasing. Debt- Is it going up or going down? It\u2019s increasing.<\/p>\n
\u201cInflation is being rebased, and we are told it\u2019s coming down to about 15%. Revenue of the government, is it increasing? Yes, it\u2019s increasing in terms of other economic indicators.<\/p>\n
\u201cSo you have some of them going up and some of them coming down. But the main thing is how do ordinary Nigerians see, perceive and feel about these reforms? And the two key areas will be poverty and unemployment.<\/p>\n
\u201cAnd if you look at this, the UN report has said that about 30 million Nigerians will move into poverty this year. So it means that we are looking at almost 140 million Nigerians described as poor in terms of unemployment,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Director of Public Sector Initiative, Lagos Business School, Franklin Ngwu, says at least 140 million Nigerians will be…\n","protected":false},"author":2,"featured_media":455314,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":{"0":"post-455313","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/455313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=455313"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/455313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/455314"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=455313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=455313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=455313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}