Africa Business Radio

Managing Director, Financial Derivatives Company Limited and a member of President Muhammadu Buhari’s Economic Advisory Council, Mr. Bismarck Rewane has stated that Nigeria has maintained the infamous position as the poverty capital of the world, with 93.9 people in Africa’s most populous country currently living below the poverty lineRewane stated that seven million Nigerians fell into extreme poverty in 2020.The report had then stated that the number of Nigerians in extreme poverty increases by six people every minute.Rewane pointed out in the latest report that the Petroleum Industry Act, which is in the process of being implemented, would have minimal impact on new investments in the downstream sector of the Nigerian oil and gas industry.