Nigeria’s Ambassador-designate to Mexico, Reno Omokri, has said an average Nigerian could survive on N3,000 daily, insisting that poverty levels should be interpreted based on the economic realities and cost of living in each country. Omokri made the assertion during an appearance on Sunday Politics, where he spoke about poverty, the cost of essential commodities […]
Nigeria’s Ambassador-designate to Mexico, Reno Omokri, has said an average Nigerian could survive on N3,000 daily, insisting that poverty levels should be interpreted based on the economic realities and cost of living in each country.
Omokri made the assertion during an appearance on Sunday Politics, where he spoke about poverty, the cost of essential commodities and the application of international poverty standards to Nigeria.
The former presidential aide said he had personally gone to markets with a journalist, without security, to establish the prevailing prices of some basic food items.
He said the items checked during the exercise included yam, rice, maize and fruits, among other essential commodities commonly purchased by Nigerians.
According to Omokri, his findings from the market visit convinced him that N3,000 could cover the basic daily needs of an individual in Nigeria.
He, however, acknowledged that the same amount would not provide a similar level of subsistence in the United States, where the cost of living is considerably different.
Using the comparison, Omokri argued that poverty should not be viewed solely through a universal monetary figure without considering the purchasing power and economic environment of the country being assessed.
He said the value and purchasing capacity of a particular amount of money varies from one economy to another, making “context” an important factor in discussions about poverty.
Omokri also discussed the poverty benchmark used by the World Bank, describing it as a global standard designed to provide an international basis for measuring poverty.
He said the international benchmark, which he referred to as less than $2 per day, should not automatically be interpreted as a complete reflection of the living conditions of Nigerians.
When questioned about whether he disagreed with the World Bank’s poverty measurement, Omokri said the institution was applying a global benchmark.
“The World Bank is using a global benchmark,” he stated.
His comments are likely to fuel further discussions about what constitutes poverty in Nigeria, particularly as Nigerians continue to contend with food prices and other rising household expenses.
The statement also comes amid broader conversations about whether economic indicators and international benchmarks adequately capture the day-to-day realities experienced by ordinary Nigerians.