Yakubu: Poverty Not Caused by Tinubu's Economic Reforms

Tanimu Yakubu, the Director-General of the Budget Office of the Federation, asserted that the widespread poverty and hardship in Nigeria cannot be solely attributed to the economic reforms of President Bola Tinubu's administration. He emphasized that Nigeria entered the reform period with significant economic weaknesses, including low productivity, fiscal leakages, and unreliable power supply.

Yakubu clarified that the persistence of poverty should not automatically be linked to the reforms, as the country had been facing structural issues long before these changes. He pointed out that a World Bank report indicated a large portion of Nigerians live below the poverty line, but this should not be interpreted as a straightforward poverty headcount.

Yakubu noted improvements in macroeconomic indicators, citing a projected real GDP growth of four percent for 2025 by both the World Bank and the International Monetary Fund, alongside an increase in gross international reserves to approximately $46 billion by the end of 2025.