{"id":7947,"date":"2026-11-03T18:00:50","date_gmt":"2026-11-03T18:00:50","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/03\/tinubus-reforms-favour-rich-worsen-poverty-atedo-peterside\/"},"modified":"2026-11-03T18:00:50","modified_gmt":"2026-11-03T18:00:50","slug":"tinubus-reforms-favour-rich-worsen-poverty-atedo-peterside","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/03\/tinubus-reforms-favour-rich-worsen-poverty-atedo-peterside\/","title":{"rendered":"Tinubu\u2019s reforms favour rich, worsen poverty \u2014 Atedo Peterside"},"content":{"rendered":"
\"Nigerian<\/p>\n

Atedo Peterside, founder of Stanbic IBTC Bank Plc and Anap Foundation, has said President Bola Tinubu\u2019s economic reforms have benefited wealthy Nigerians while worsening the living conditions of millions of low-income earners.<\/p>\n

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Peterside stated this on Monday during an interview on Arise Television, arguing that although upper-middle-class Nigerians had recorded improvements in their investments and incomes over the past three years, poorer households were struggling to afford basic necessities.<\/p>\n

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He said the reforms had not adequately addressed the economic difficulties confronting the majority of Nigerians.<\/p>\n

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\u201cIf you\u2019re upper middle class, I can probably show on the blackboard investments in the stock exchange and all that stuff.<\/p>\n

\u201cI can show on the blackboard that you\u2019re probably better off in the last three years. If you\u2019re a low-income worker, like somebody without much savings and struggling to eat \u2014 what 100 million Nigerians have to do, to eat two meals a day and struggling to pay your bills, I can show you that you\u2019re a lot worse off,\u201d he said.<\/p>\n

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Peterside faulted the government for failing to establish adequate social safety nets for poor Nigerians while implementing the reforms.<\/p>\n

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Citing 2025 data from TheCable Index, he said poverty levels varied significantly across the country\u2019s geopolitical zones, with the North-West, North-East, North-Central and South-South bearing a heavy burden.<\/p>\n

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He said only about 12 states and the Federal Capital Territory had poverty rates below 50 per cent.<\/p>\n

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According to him, most of the states with poverty rates below that threshold were in the South-West, alongside Anambra in the South-East and Edo and Delta in the South-South.<\/p>\n

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Peterside said the regional disparities could shape how Nigerians assess the impact of the government\u2019s economic policies.<\/p>\n

He added that policymakers might not fully appreciate the depth of poverty in some parts of the country because they did not frequently visit affected communities.<\/p>\n

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\u201cHigh poverty in Nigeria is largely a zonal problem. It is a problem of the North-West, of the North-East, of the North-Central, and of the South-South,\u201d he said.<\/p>\n

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The businessman maintained that the absence of adequate social protection for vulnerable Nigerians remained a major gap in the implementation of the government\u2019s economic reforms.<\/p>\n

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Vanguard Newspaper<\/a><\/p>\n

The post Tinubu\u2019s reforms favour rich, worsen poverty \u2014 Atedo Peterside<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n

Source: <\/p>\n

Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"

Atedo Peterside, founder of Stanbic IBTC Bank Plc and Anap Foundation, has said President Bola Tinubu\u2019s economic reforms have benefited wealthy Nigerians while worsening the living conditions of millions of… <\/p>\n","protected":false},"author":1,"featured_media":7948,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-7947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/7947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=7947"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/7947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/7948"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=7947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=7947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=7947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}