Eight in ten Nigrians pessimistic about their welfare

In the face of the rebasing of the economy which threw Nigeria’s GDP up to $509 billion (about N80 trillion), 80 percent of adult Nigerians are not optimistic that their welfare will improve in coming months, a pan Nigeria research conducted by Tnsrms has revealed.

The poll called The Pulse of the Nation, according to the research firm, was aimed at feeling the pulse of ordinary Nigerians, as it relates to the socio-economic and political landscape.

Commenting on the findings, Adeola Tejumola, Chief Executive Officer of Tnsrms West, East and Central Africa, further explained that the economic boom, as reflected by the size of the country’s re-based GDP numbers and its emergence as the 26th largest economy in the world, may not be translating into better opportunities for the teeming 170 million Nigerians, as only 20 percent are of the opinion that the welfare of their families will improve in coming months.

 “It is well documented that the rate of economic growth of any country may not lead to real development, except it impacts the living conditions of its citizens . Nigerians are worse off in three key indicators of economic health, namely Per Capita Income, Unemployment Rate and High Price Indexes.

“Going by World Bank statistics, an average Nigerian survives on about $1 per day, which is far less than that of South Africa, which is about $9.75 per day and that of an average Egyptian, which is over $6”.

 Tejumola, quoting a New World Wealth Report, observed that though Nigeria’s pool of millionaires increased by 44% between 2007 and 2013 ; wealth has remained at the top end, with the number of Nigerians living in poverty increasing significantly, thus presenting an irony, looking at the nation’s economic statistics on rapid growth and the minimal welfare gain for most of its citizens.

 “Furthermore, though for the first time in Nigeria’s 53-year history, the country has successfully privatised the electric power industry, with the Minister of Industry, Trade and Investment, Olusegun Aganga, recently saying that the privatisation of the nation’s power sector has unlocked investment opportunities (pipeline investments estimated at $50bn currently); Nigerians seem to be dissatisfied with the sector’s performance till date; with about 70% saying electricity supply has worsened, compared to same time last year”, the statement from Tnsrms said.

 The survey also revealed that just about half the Nigerian populace (54%) believe the country currently respects the rule of law under President Goodluck Jonathan, 28% said the government somewhat respects the rule of law; while 18% said that there is no respect for the rule of law within the shores of the country: findings indicated that this perception (non-respect for the rule of Law) was more pronounced amongst Nigerians based in Lagos, Abuja, Port Harcourt and Enugu.

 The report further said that analysis of public sentiments around the recent sack of the Governor of the Central Bank of Nigeria; indicated that six out of every 10 Nigerians think the action was not justified; with only 30% saying it was justified. Those who felt his eventual removal was not justified; believed the whole event was politically motivated and that he was not guilty of allegations leveled against him.

 Tejumola further explained that the survey covered all states of the federation. Five thousand respondents aged 18 years old and above were interviewed through face to face in-home quantitative approach, using the MCAPI (Mobile Computer Aided Interviewing) platform. Multi-stage, stratified, random probability sampling approach was employed in selecting respondents, in order to neutralise any known form of bias that may affect the accuracy of the data collected. Every LGA in each state was given an equal chance of either being included or excluded in the sample.

DANIEL OBI