Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the country must achieve sustained GDP growth of about 7% if it hopes to meaningfully reduce poverty and improve the living standards of its citizens.
Edun made the comment while responding to a question at a press briefing following the conclusion of the 2024 IMF and World Bank Spring Meetings held in Washington, D.C.
According to him, although Nigeria’s economy is currently growing at an average of 3.4% in 2024, with the most recent quarterly figure recorded at 3.84%, this level of growth is insufficient to lift millions of Nigerians out of poverty.