{"id":2113,"date":"2026-07-21T16:39:58","date_gmt":"2026-07-21T15:39:58","guid":{"rendered":"https:\/\/mediaconversation.com\/?p=2113"},"modified":"2026-07-21T16:40:00","modified_gmt":"2026-07-21T15:40:00","slug":"fg-moves-to-measure-poverty-income-levels-as-economic-hardship-persists-across-nigeria","status":"publish","type":"post","link":"https:\/\/mediaconversation.com\/?p=2113","title":{"rendered":"FG Moves To Measure Poverty, Income Levels As Economic Hardship Persists Across Nigeria"},"content":{"rendered":"\n

By Deborah<\/strong><\/strong> Ohwofasa <\/strong><\/p>\n\n\n\n

The Federal Government has announced plans to introduce a national scorecard that will measure poverty, income levels and inequality across the country as part of efforts to determine whether ongoing economic reforms are improving the living conditions of Nigerians.<\/p>\n\n\n\n

The announcement was made by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, during a BusinessDay conference in Lagos. According to him, the proposed “Shared Prosperity Scorecard” will provide government with measurable indicators that will show whether economic growth is translating into better living standards for ordinary Nigerians.<\/p>\n\n\n\n

Oyedele explained that the scorecard would not focus only on the country’s Gross Domestic Product (GDP) but would also assess important social and economic indicators such as multidimensional poverty, real income per capita, employment opportunities and income inequality. He noted that true economic progress should be reflected in the daily lives of citizens rather than in statistics alone.<\/p>\n\n\n\n

The development comes at a time when millions of Nigerians continue to struggle with the high cost of living. Since the removal of the fuel subsidy and the unification of the foreign exchange market by the administration of President Bola Ahmed Tinubu, prices of goods and services have risen sharply across the country.<\/p>\n\n\n\n

READ ALSO:<\/strong> DELSU SUG Successfully Concludes SUG Week<\/a><\/p>\n\n\n\n

Although economists acknowledge that the reforms were intended to strengthen Nigeria’s economy and attract investment, many households are yet to experience their benefits. The rising cost of transportation, electricity, food items, school fees and house rent has placed enormous pressure on families, forcing many to adjust their spending habits and reduce their standard of living.<\/p>\n\n\n\n

A visit to several markets showed that the prices of essential commodities remain high despite reports of a slight decline in Nigeria’s headline inflation rate. Traders attributed the continuous increase in food prices to the high cost of transportation, insecurity affecting farming communities, poor road networks and the rising cost of agricultural inputs.<\/p>\n\n\n\n

The National Bureau of Statistics (NBS) recently reported a slight reduction in headline inflation. However, food inflation remains a major concern as the prices of rice, garri, yam, tomatoes, pepper, beans, vegetable oil and other household necessities continue to rise in many parts of the country.<\/p>\n\n\n\n

Economic experts have argued that inflation figures alone do not fully reflect the realities faced by ordinary Nigerians. According to analysts, while macroeconomic indicators may suggest gradual improvement, the average citizen is more concerned about purchasing power and the ability to meet daily needs.<\/p>\n\n\n\n

READ ALSO:<\/strong> Humanitarian Crisis Deepens In Nigeria As Hunger, Conflict Displace Millions<\/a><\/p>\n\n\n\n

The International Monetary Fund (IMF) has also observed that although Nigeria’s economy has recorded signs of recovery following recent reforms, a significant percentage of the population still lives below the poverty line. The organisation stressed the need for stronger social protection programmes and policies that will cushion the effects of economic reforms on vulnerable households.<\/p>\n\n\n\n

Speaking further, Oyedele maintained that the new prosperity scorecard would enable government to monitor whether public policies are actually reducing poverty and improving the welfare of citizens. He stated that the objective is to ensure that economic growth is inclusive and beneficial to all Nigerians rather than a privileged few.<\/p>\n\n\n\n

According to him, government agencies will work together to collect and analyse reliable data that will assist policymakers in making informed decisions. The findings are also expected to improve transparency and accountability in the implementation of economic policies.<\/p>\n\n\n\n

Residents in different parts of the country continue to express concern over the persistent increase in the prices of goods and services. Many workers say their salaries can no longer meet basic household expenses, while small business owners complain that the rising cost of production has reduced their profit margins. Some entrepreneurs have also reduced their workforce as operating costs continue to increase.<\/p>\n\n\n\n

READ ALSO:<\/strong> Ovwuvwe Festival Draws Crowds as Abraka Strengthens Security Measures<\/a><\/p>\n\n\n\n

Market observers believe that sustainable economic recovery will depend not only on fiscal and monetary reforms but also on increased agricultural production, improved infrastructure, stable electricity supply, enhanced security and deliberate efforts to encourage local manufacturing.<\/p>\n\n\n\n

Financial analysts have equally called on the government to strengthen social investment programmes, support small and medium-scale enterprises and implement policies capable of creating employment opportunities, especially for young people.<\/p>\n\n\n\n

As Nigerians continue to adjust to the realities of the country’s economic reforms, many citizens hope that the proposed Shared Prosperity Scorecard will move beyond statistical measurements and result in practical policies capable of improving living standards.<\/p>\n\n\n\n

READ ALSO:<\/strong> DELSU Health Centre Launches Malaria Prevention Campaign for Students<\/a><\/p>\n\n\n\n

For many households, the true measure of economic success will not be reflected in official reports alone but in the affordability of food, transportation, healthcare, education and other basic necessities. Until these become more accessible, many Nigerians believe the effects of economic hardship will continue to dominate everyday life despite positive economic projections.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

By Deborah Ohwofasa The Federal Government has announced plans to introduce a national scorecard that will measure poverty, income levels and inequality across the country as part of efforts to determine whether ongoing economic reforms are improving the living conditions of Nigerians. The announcement was made by the Chairman of the Presidential Committee on Fiscal […]<\/p>\n","protected":false},"author":3,"featured_media":2114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"iawp_total_views":2,"footnotes":""},"categories":[14],"tags":[556,555,557],"class_list":["post-2113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trendingnews","tag-economic-hardship","tag-federal-govt","tag-poverty-levels"],"_links":{"self":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/2113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2113"}],"version-history":[{"count":1,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/2113\/revisions"}],"predecessor-version":[{"id":2115,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/2113\/revisions\/2115"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/media\/2114"}],"wp:attachment":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}