Nigeria on the Move : A Journey to Inclusive Growth
Frequently referred to as the Giant of Africa, Nigeria is growing slower than its population and large numbers of people are poor. With gross national income per capita of US$2,100 (in 2017; Atlas method, WDI), Nigeria is classified as a lower-midd...
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/891271581349536392/Nigeria-on-the-Move-A-Journey-to-Inclusive-Growth-Moving-Toward-a-Middle-Class-Society http://hdl.handle.net/10986/33347 |
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okr-10986-333472021-05-25T09:32:46Z Nigeria on the Move : A Journey to Inclusive Growth World Bank MIDDLE CLASS POVERTY REDUCTION SOCIAL INCLUSION ECONOMIC GROWTH INCLUSIVE GROWTH VULNERABILITY SUSTAINABILITY SHARED PROSPERITY OIL DEPENDENCY PUBLIC SECTOR GOVERNANCE VIOLENT CONFLICT DEMOGRAPHICS HUMAN DEVELOPMENT ACCESS TO LAND AGRICULTURAL TECHNOLOGY FINANCIAL INTERMEDIATION GLOBAL INTEGRATION REGIONAL INTEGRATION INFRASTRUCTURE ENVIRONMENTAL DEGRADATION HUMAN CAPITAL PRIVATE SECTOR DEVELOPMENT SOCIAL CONTRACT Frequently referred to as the Giant of Africa, Nigeria is growing slower than its population and large numbers of people are poor. With gross national income per capita of US$2,100 (in 2017; Atlas method, WDI), Nigeria is classified as a lower-middle-income country. It is richly endowed, has a relatively young, rural, and multiethnic population, and accounts for the largest economy and population in Africa. It has the potential to become an economic powerhouse through the effective management of its abundant resources, including plentiful agricultural land, marine fisheries, hydropower, oil and gas, unexploited deposits of minerals and metals, a young labor force, and a strong entrepreneurship culture. One-fifth of the population is in the middle class. However, significant poverty persists despite the government’s effort to reduce the high poverty rate. Measured according to the US$1.90-a-day per capita purchasing power parity poverty line, it is estimated that 42.8 percent of Nigeria’s population was living in extreme poverty in 2016. Poverty has been rising in rural areas and in the northern zones, while the situation in the southern zones has generally been improving. Nigeria needs more inclusive economic growth, so more people can exit from poverty, and the country can evolve into a society with a sizable middle class, a viable social contract between the government and the people, and peace and prosperity across the nation. A key development challenge in Nigeria revolves around economic growth, which has had a limited impact on reducing poverty and building shared prosperity. This Systematic Country Diagnostic (SCD) examines the challenges the government and people of Nigeria face in achieving the twin goals of poverty reduction and shared prosperity. 2020-02-19T17:30:34Z 2020-02-19T17:30:34Z 2020-02-06 Report http://documents.worldbank.org/curated/en/891271581349536392/Nigeria-on-the-Move-A-Journey-to-Inclusive-Growth-Moving-Toward-a-Middle-Class-Society http://hdl.handle.net/10986/33347 English Systematic Country Diagnostic; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Systematic Country Diagnostic Africa Nigeria |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
MIDDLE CLASS POVERTY REDUCTION SOCIAL INCLUSION ECONOMIC GROWTH INCLUSIVE GROWTH VULNERABILITY SUSTAINABILITY SHARED PROSPERITY OIL DEPENDENCY PUBLIC SECTOR GOVERNANCE VIOLENT CONFLICT DEMOGRAPHICS HUMAN DEVELOPMENT ACCESS TO LAND AGRICULTURAL TECHNOLOGY FINANCIAL INTERMEDIATION GLOBAL INTEGRATION REGIONAL INTEGRATION INFRASTRUCTURE ENVIRONMENTAL DEGRADATION HUMAN CAPITAL PRIVATE SECTOR DEVELOPMENT SOCIAL CONTRACT |
| spellingShingle |
MIDDLE CLASS POVERTY REDUCTION SOCIAL INCLUSION ECONOMIC GROWTH INCLUSIVE GROWTH VULNERABILITY SUSTAINABILITY SHARED PROSPERITY OIL DEPENDENCY PUBLIC SECTOR GOVERNANCE VIOLENT CONFLICT DEMOGRAPHICS HUMAN DEVELOPMENT ACCESS TO LAND AGRICULTURAL TECHNOLOGY FINANCIAL INTERMEDIATION GLOBAL INTEGRATION REGIONAL INTEGRATION INFRASTRUCTURE ENVIRONMENTAL DEGRADATION HUMAN CAPITAL PRIVATE SECTOR DEVELOPMENT SOCIAL CONTRACT World Bank Nigeria on the Move : A Journey to Inclusive Growth |
| geographic_facet |
Africa Nigeria |
| relation |
Systematic Country Diagnostic; |
| description |
Frequently referred to as the Giant of
Africa, Nigeria is growing slower than its population and
large numbers of people are poor. With gross national income
per capita of US$2,100 (in 2017; Atlas method, WDI), Nigeria
is classified as a lower-middle-income country. It is richly
endowed, has a relatively young, rural, and multiethnic
population, and accounts for the largest economy and
population in Africa. It has the potential to become an
economic powerhouse through the effective management of its
abundant resources, including plentiful agricultural land,
marine fisheries, hydropower, oil and gas, unexploited
deposits of minerals and metals, a young labor force, and a
strong entrepreneurship culture. One-fifth of the population
is in the middle class. However, significant poverty
persists despite the government’s effort to reduce the high
poverty rate. Measured according to the US$1.90-a-day per
capita purchasing power parity poverty line, it is estimated
that 42.8 percent of Nigeria’s population was living in
extreme poverty in 2016. Poverty has been rising in rural
areas and in the northern zones, while the situation in the
southern zones has generally been improving. Nigeria needs
more inclusive economic growth, so more people can exit from
poverty, and the country can evolve into a society with a
sizable middle class, a viable social contract between the
government and the people, and peace and prosperity across
the nation. A key development challenge in Nigeria revolves
around economic growth, which has had a limited impact on
reducing poverty and building shared prosperity. This
Systematic Country Diagnostic (SCD) examines the challenges
the government and people of Nigeria face in achieving the
twin goals of poverty reduction and shared prosperity. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Nigeria on the Move : A Journey to Inclusive Growth |
| title_short |
Nigeria on the Move : A Journey to Inclusive Growth |
| title_full |
Nigeria on the Move : A Journey to Inclusive Growth |
| title_fullStr |
Nigeria on the Move : A Journey to Inclusive Growth |
| title_full_unstemmed |
Nigeria on the Move : A Journey to Inclusive Growth |
| title_sort |
nigeria on the move : a journey to inclusive growth |
| publisher |
World Bank, Washington, DC |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/891271581349536392/Nigeria-on-the-Move-A-Journey-to-Inclusive-Growth-Moving-Toward-a-Middle-Class-Society http://hdl.handle.net/10986/33347 |
| _version_ |
1764478535190183936 |