Productivity can take majority of Nigerians out of poverty – Report

A report has disclosed that Nigeria requires overall productivity to lift 133 million out of multidimensional poverty.

Newsmen learnt on Thursday in a business outlook report by Stears Business titled “How to fix Nigeria’s growth problem”.

Poverty is ranked high among Nigeria’s challenges.

The National Bureau of Statistics, NBS, disclosed that 65 per cent of Nigerians live in poverty.

According to the report, nearly all economic indicators have shown that the country is in the wrong direction to solving its problems.

It stated that engaging all spheres of the country in productivity is the way out of Nigeria’s economic challenges.

“When we focus on productivity, we accept that we want to improve our ability to produce more with less. That is all that matters for raising living standards, making it a far better strategy than just focusing on GDP growth”, the report stated.