Bold Economic Reforms Needed to Tackle Nigeria’s – AFRI-CIRD Boss
The African Center for Innovative Research and Development (AFRI-CIRD) has expressed grave concern over Nigeria’s deepening poverty crisis, following alarming statistics from the World Bank’s April 2025 Africa’s Pulse report.
Mohammed Bello, Chief Executive Officer and Founder of AFRI-CIRD, made this call in a statement issued to newsmen on Wednesday.
The report revealed that Nigeria accounts for 15 percent of the world’s poorest population, with over 106 million citizens living in extreme poverty—surviving on less than $2.15 per day.
Despite holding the position as Africa’s largest economy by GDP, the country continues to grapple with economic challenges including high inflation, naira depreciation, insecurity, and structural unemployment.
AFRI-CIRD warned that without urgent interventions, an additional 13 million Nigerians may fall into poverty in 2025 as projected in the report.
“This distressing reality underscores the urgent need for decisive, coordinated, and comprehensive efforts to combat poverty and foster inclusive economic growth across the nation,” said Mohammed Bello. “Without bold reforms, Nigeria risks becoming not just the most populous country in Africa, but also the poverty capital of the world.”
To avert further deterioration, AFRI-CIRD outlined a seven-point action plan for government and stakeholders. Key recommendations include the implementation of comprehensive economic reforms focused on enhancing non-oil revenues, cutting wasteful public expenditures, and promoting fiscal transparency.
The organization also emphasized the expansion and strengthening of social protection systems, calling for broader and more adequate cash transfers, as well as unemployment and healthcare benefits specifically targeting vulnerable groups like women, children, internally displaced persons (IDPs), and persons with disabilities.
Similarly, AFRI-CIRD stressed the importance of human capital investment through education reform, skills acquisition programs, and improved healthcare infrastructure. The organization further called for support for SMEs and startups, enhanced digital and physical infrastructure, and promotion of value-added industries in agriculture and manufacturing to create jobs and diversify the economy.
In addressing rural poverty, AFRI-CIRD advocated for modernizing agriculture through mechanization, quality inputs, and improved rural infrastructure. The statement also highlighted the importance of harnessing localized data to tailor development efforts and foster accountability.
“Establishing robust monitoring systems, tackling corruption decisively, and encouraging active citizen participation are non-negotiable if Nigeria is to lift millions out of poverty,” Bello added.
The organization called on the federal government, private sector, civil society, and development partners to collaborate in implementing the proposed measures, asserting that a holistic and inclusive approach is the only path to a more equitable and resilient Nigeria.
