At the end of the 2013 Spring Meetings of World Bank Group/IMF, world financial leaders avowed to two specific global agenda. First, a historic opportunity to end extreme poverty within a generation, the global target of reducing extreme poverty rate, the number of people living on less than $1.25 a day to three per cent by 2030.
Leaders at the meeting agreed that this is ambitious. Achieving this goal will require strong economic growth across the developing world, as well as translation of growth into poverty reduction to an extent not seen before in many low-income countries.
World financial leaders, including those from Nigeria, equally endorsed the second proposed goal, to promote shared prosperity. This will entail fostering income growth of the bottom 40 per cent of the population in every country. Nigeria’s future economic growth measurement will be based on how policies have helped to reduce the alarming inequality between the haves and have-nots in the country.