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Dangote reveals number of Nigerians living in poverty

31 October 2016, 12:04

Abuja - The President, Dangote Group, Aliko Dangote, has said that more than 100 million out of the country’s estimated population of 187 million are wallowing in poverty.

He told participants at the Executive Course No. 38, 2016 of the National Institute for Policy and Strategic Studies, Kuru, near Jos, Plateau State, that the situation was unacceptable to him given Nigeria’s abundant resources, according to a statement made available on Sunday.

Delivering a paper entitled: ‘Promotion of local manufacturing and poverty reduction in Nigeria: The private sector experience and policy options’, he said, “It is a curious paradox that Nigeria, Africa’s largest oil producer, and the largest economy on the continent, also has one of the highest levels of poverty.

Also read: Recession: Dangote fires 36 expatriates, 12 Nigerians

“It is estimated that more than 100 million out of a population of 187 million Nigerians live below the poverty line.”

Quoting a United Nations report, Dangote said youth unemployment had risen to 42 per cent this year, with many graduates roaming the streets of major cities such as Lagos, Kano, Abuja and Port Harcourt in search of elusive white-collar jobs, while for some who were employed, their situation could best be described as under-employment, as they were being underutilised and poorly paid.

This development, according to him, has serious security implications, as evidenced by the high rate of social ills plaguing the nation.

- News 24

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