A new study has revealed that about 63 per cent of Nigerians fell below the poverty line following the removal of petrol subsidy, highlighting the welfare impact of the country’s recent economic reforms. The research, presented on Thursday at a stakeholders’ dialogue organised by the Agora Policy in Abuja, showed that the national poverty headcount rose sharply from a baseline of about 49.8 per cent to roughly 63 per cent after the subsidy removal. The rate later moderated slightly following the introduction of social protection measures. The dialogue, themed “Sustaining and Deepening Economic Reforms in Nigeria,” brought together policymakers, economists, civil society leaders, and private sector representatives to examine the effects of the Federal Government’s reform agenda. Participants included the Deputy Governor for Economic Policy at the Central Bank of Nigeria, Muhammad Abdullahi; the Special Adviser to the President on Finance and Economy, Sanyade Okoli; the World Bank Senior Economist for Nigeria, Samer Matta; the Country Director of CARE International, Hussaini Abdu; and the Executive Director of Agora Policy, Waziri Adio. The study was presented by a Senior Lecturer in the Department of Economics at the University of Abuja, Mohammed Shuaibu. It analysed the economic and social consequences of major reforms introduced by the Federal Government, including the removal of petrol subsidy and adjustments in electricity tariffs. President Bola…
