Nigerians are optimistic about the country’s economic prospects, even if things are still far from rosy, a recent Afrobarometer survey indicates. An overwhelming majority of Nigerians believe the economy will be better in a year’s time, although a majority see current economic conditions as bad and the country as going in the wrong direction.
More than one-third of Nigerians repeatedly went without basic life necessities during the previous year, and many say that obtaining public services was difficult, took “a long time,” and required the payment of a bribe.
Nigeria’s economy has been showing signs of improvement after a 2016 recession blamed mainly on low oil revenues and unchecked corruption. Economic projections have been positive, including expected gross domestic product (GDP) growth of about 2.6% in 2018. However, almost half (47%) of the country’s population still live in poverty while eight out 10 Nigerians live on less than $2 a day, according to the World Poverty Clock and the African Development Bank Group.