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Presidency: World Bank Did Not Classify Nigeria as Extremely Poor

 The presidency yesterday said the statement  by the World Bank President, Jim Yong Kim, that Nigeria was among the world’s extremely poor countries was not correct and was a misrepresentation of facts.
It added that Kim’s statement was deliberatly distorted to embarass the Goodluck Jonathan administration.

The Senior Special Assistant to the President on Public Affairs, Dr. Doyin Okupe, stated this in a statement in Abuja.
According to the presidential aide, what the World Bank chief said was: “Two-thirds of the world’s extremely poor are concentrated in just five countries: India, China, Nigeria Bangladesh and the Democratic Republic of Congo…if you add another five countries like Indonesia, Pakistan, Tanzania, Ethiopia and Kenya, the total grows to 80 per cent of the extremely poor.”

Okupe said while the government appreciated the challenges of poverty eradication and wealth creation among the populace and was trying to address same, it would be false and uncharitable for commentators to use the statement as a basis to discribed Nigeria as an extremely poor nation or that the its economy was one of the poorest in the world.

According to Okupe, “China which is the world’s second largest economy and India which is the world’s fourth largest economy could never have been classified by the World Bank chief executive as extremely poor countries and this is also applicable to Nigeria, which has consistently been rated as having a positive economic outlook by various international agencies and is also the fastest growing economy in Africa.

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