Where is Nigeria’s Thriving Middle-Class in 2021? The Youth Want to Know.
A truism of economies is they thrive when they have a large stable middle-class. In the mid-2010s, one of the most aggressive facts promoted about the Nigerian economy was that it had created a large and thriving middle-class. Many observers were skeptical but were called naysayers.
Today, we are all concerned about the future of our economies, which has become incalculable because of the uncertain impacts of COVID-19; rising inequality, growing poverty, upward concentration of wealth, and climate change. Nigeria is facing such concerns and has a serious youth immiseration and deprivation problem. The culture of youth neglect has never been so insensitive. And yes, the middle class and the less well-off are the hardest hit. Upward mobility for the youth has become a phantom. (more…)