This is as continuous increase in food prices and inflation would constitute major setbacks to achievement of the 3.2 per cent and 3.4 per cent 2024/2025 growth projection for Nigeria.
According to the ‘Nigeria country focus report’ which was launched by the African Development Bank on Thursday, with over 63 percent of Nigerians still multidimensionally poor, 18 out of 36 states recording poverty levels that are above the national average.
It also states that given Nigeria’s current performance levels on these critical sectors and their projected values – assumed to change in line with GDP per capita, the annual financing gap to fast-track Nigeria’s structural transformation is estimated at US$31.5 billion under the SDG framework in 2030 and US$5.5 billion, assuming the Agenda 2063 deadline.
