World Bank says Nigeria has reduced extreme poverty by 7%

The World Bank ascribed the achievement to increased internet coverage over a three-year period.According to a World Bank analysis, Tanzania and Nigeria reduced extreme poverty by 7% in 2023.The accomplishment, according to the Bretton Woods Institution, was made possible by these two nations' increased access to internet coverage over a period of three years or longer.The World Bank also reported that during the same time period, wage employment and labor force participation climbed by up to 8% in the brief titled "Digital transformation drives development in Africa." The report said, “In 2023, a World Bank flagship report found that in Nigeria and Tanzania, extreme poverty declined by about seven per cent after three or more years of exposure to internet coverage, while labour force participation and wage employment increased by up to eight per cent.”