The New York based international news agency, Bloomberg has derided the Nigerian Government led by President Muhammadu Buhari over failed economy in the last four years.

Bloomberg has said it wonders if the Nigerian president is up to the task of reviving the Nigerian economy, in his second term as president.

The news agency stressed that in the year 2000 over 1.4 billion people lived below global poverty line of $1.90 a day.

In addition, “currently, the number is about 600 million. This remarkable change is mainly due to growth in China and India. Much of sub-Saharan Africa, particularly Nigeria, has failed to share in the success.

“A decade ago, Nigeria had far lesser people in extreme poverty than either China or India; today, according to data compiled by the World Data Lab, it has more than both combined. The count stands at more than 90 million, and has increased in absolute terms and as a share of the total.

“Nigeria’s young and fast-growing population is projected by the United Nations to double in size by 2050, making it the world’s third-biggest.

It also assumes that the proportion of Nigerians living in extreme poverty stop rising as quickly as it has in recent years.

“Nigeria’s success or failure in tackling extreme poverty will be important for the rest of Africa, too partly because of its large population but also because of its unusual large influence over its neighbors.

Joblessness has more than tripled. Efforts to encourage agriculture and other key sectors of the economy have failed. Foreign direct investment has dropped by more than half since 2010.”

We hope that the Nigerian government will cut down the cost of governance, increase Gross domestic products (GDP) and channel more funds for the welfare of the people of Nigeria which is the primary responsibility of the government.