Reno Omokri, Nigeria’s ambassador-designate to Mexico, has said an average Nigerian can survive on N3,000 per day.
He argued that poverty assessments should consider the economic conditions of each country.
Omokri made the remarks while discussing the rising cost of living and global poverty standards on the television programme Sunday Politics.
According to him, “I went to the market with a journalist, without security, and checked the prices of yam, rice, maize and fruits. From what I saw, N3,000 is enough for an average Nigerian to live on for a day.”
However, Reno Omokri said the same amount would not cover basic needs in the US because of differences in the cost of living.
“But in the United States, if you try to live on that amount in a day, it is poverty. So, you have to context, again, context matters,” he stated.
The ambassador-designate also discussed the World Bank’s global poverty benchmark.
He argued that poverty assessments should consider the economic conditions of individual countries when setting international standards.
Omokri said assessing poverty based on Nigeria’s actual cost of living differs from applying the global benchmark of surviving on less than $2 per day.
When asked whether he disagreed with the World Bank’s poverty benchmark, Omokri said the organisation uses a global standard that applies across countries.
Backstory…
His claims comes amid the battle with the effects of the cost-of-living crisis triggered by higher food, transport and energy costs.
Fuel costs have also continued to influence the price of everyday goods and services. Current petrol prices are around ₦1,290 per litre, meaning ₦3,000 would buy only about 2.3 litres of petrol at that price.
For commuters, traders and workers who depend on transportation, fuel costs feed directly into fares and the prices of goods moved across the country.
Meanwhile, Using an exchange rate of roughly ₦1,326–₦1,327 to $1, based on recent official rates, ₦3,000 is approximately $2.26.
