Reducing Poverty in Lagos, Nigeria

The National Association of Microfinance Banks in Lagos are putting forth an effort to dispurse N100 billion in loans this year, in an effort to reduce poverty in Nigeria - this article points out that currently 70% of Nigerians live below the poverty line.

Poverty to reduce in Lagos as MFBs plan to disburse N100bn loan

About 70 percent of 150 million Nigerians live below the poverty line, this figure rose from 54 percent previously. Poverty in Nigeria remains endemic in spite of poverty alleviation works. Experts have criticised the development, describing it as unacceptable because of the risk it poses to economic growth.