Niger: The CNSP’s new policy is beginning to bear fruit as the poverty rate falls
Niger is poised for a significant reduction in its poverty rate, projected to drop to 42.5% by 2026, as revealed in a recent World Bank report. This optimistic forecast reflects the sustained efforts of the transitional government, which, despite facing considerable challenges, has made the welfare of its citizens a central focus.
The year 2023 was particularly difficult for Niger, as the country experienced an economic downturn and saw its poverty rate surge to 52%.
This increase was largely driven by the economic sanctions imposed by ECOWAS, which took a heavy toll on the economy. However, the nation is now showing signs of recovery.
The lifting of sanctions in February 2024 has revived key sectors, particularly oil, with the World Bank predicting an economic growth rate of 5.7% for Niger this year, up from a modest 2% in 2023.
Much of this recovery is credited to the boost in oil exports, which have benefited from improved diplomatic ties with Benin, enabling smoother access to its ports for Nigerien oil.
Additionally, better management of oil revenues, combined with a notable increase in agricultural production, is helping to improve the living standards of Nigeriens.
The transitional government has been instrumental in navigating this economic crisis. By prioritizing the needs of its citizens, it has worked not only to stabilize the economy but also to mitigate the adverse effects of the sanctions.
The partial restoration of public financing has also played a crucial role in rejuvenating the economy and addressing urgent needs across the country.
At the same time, authorities are focused on enhancing the management of the nation’s resources, particularly in the oil sector, ensuring that the revenues generated directly benefit the population.
Through careful stewardship and clear priorities, Niger is on a path toward sustainable economic recovery, as indicated by the encouraging prospects for poverty reduction.
These determined actions by the transitional government reflect a strong political will to place the population’s well-being at the heart of Niger’s development agenda.
While significant challenges remain, these achievements offer a glimpse of hope for a more prosperous future.
Titi KEITA
