Stakeholders Lament Rising  Poverty, Urge Policy Review

Omolabake Fasogbon

Stakeholders in the country have charged federal government on urgent review of economic policies such that will spur relief on suffering masses.

The stakeholders noted this recently at the 2023 edition of the MaroonSquare Discourse in Lagos, supported by Ross Luxemburg Foundation.

The discourse also saw to the presentation and review of a research work, themed: The Face of Poverty in Nigeria”. The research was conducted by Yusufu Bala Usman Institute in Zaria. 

Speaking at the discourse, a Professor of English at Obafemi Awolowo University, Chijioke Uwasomba decried worsening poverty, in which recent data by National Bureau of Statistics (NBS) says over 133 million live below poverty line.

He blamed existing government policies for present plight, and called for sustainable interventions that will bring hope to the masses. 

He said, “Nigeria’s problem is dated back to 1981 with the austerity measures introduced by Shehu Shagari, which now got aggravated by the Structural Adjustment Programme of successive military government in 1983 and then the floating of the Naira on the advice of the IMF. 

“A nation’s currency is one of the most if not the most important element of a country. Nigeria’s currency is today heading towards the way of Zimbabwe which has been completely undervalued. 

“The government must quickly reset the economic policies that will see to the stability of the naira and make the industries productive.”

Speaking further on the research, Policy Director of MaroonSquare, Onyeisi Chiemeke said the timing and theme of the research was apt, considering the present conditions of the masses. 

“Nigerians have seen the horror face of poverty, which is gradually eroding their social relevance. Hence, we are not just reviewing this book, but using it as a pedestal to do further research on poverty in Nigeria. 

Earlier, representative of Rosa Luxemburg Foundation, Angela Odah informed that the research effort was necessary to spotlight the reality of poverty on the masses beyond the statistics being dumped on the public. 

“Oftentimes when we talk about poverty, we look at statistics only. This research work goes deeper to touch on the reality of poverty as it affects humanity, quality of life and how it impedes human development in various areas. 

She added that the work has been sent to all states and several stakeholders to foster dialogue and address issues around poverty.