It’s double trouble for most Nigerian families, having to cope with the increasing number of dependents amid constant struggles with stagnant earnings and dwindling fortunes now punctured by rising inflation. Already, rising inflation, especially that of food, is putting pressure on the already stressed household incomes, leaving many homes with little savings and capacity to absorb new shocks. Indeed, Nigeria’s population growth rate of 3.2% dwarfs the International Monetary Fund’s GDP growth projection of 2.53% in 2021, raising concerns about unchecked fertility rate and living standards of Nigerians. The percentage increase is higher than the population growth rate. We need to address the headwinds to economic growth and positive investment trajectories.

Source: The Guardian April 20, 2021 04:30 UTC