More than 105 million Nigerians live in extreme poverty now

November 7, 2020 |

World Poverty Clock has reported that since November 2019 more Nigerians have been plunged into extreme poverty.

The most recent figure shows that more than 105 million Nigerians are living in extreme poverty now, compared to 98 million in October 2019. The figures represent 51 percent of the population.

According to the World Poverty Clock, Nigeria has a total population of 205,323,520 people with 105,097,856 living in extreme poverty, which represents 51 percent of the whole population.

A person who earns below $1.90 or N855 a day is classified as living in extreme poverty.

In addition, the data also shows that there are more Nigerian males are in extreme poverty, in comparison to their female counterparts.

The number of Nigerian men living below the poverty threshold is 53,133,553, while that number of women is 51,564,303.

The data further showed that the standard rate of escape from poverty is 0.3 people each second but Nigeria falls below that – with -4.4 people escaping poverty each second.

Nigeria remains the world’s poverty capital when it comes to the number of people but is below other countries in terms of poverty in percentages. The country has 72 percent of its population in extreme poverty, while South Sudan has 80 percent, Central African republican has 79 percent, Madagascar has 77 percent, and the Democratic Republic of Congo has 75 percent of its population in extreme poverty.

However, the figure released by World Poverty Clock contradicts the most recent figures on poverty by Nigeria’s National Bureau of Statistics (NBS), which released in May its 2019 report on Poverty and Inequality in Nigeria, putting the figure of Nigerians living in extreme poverty at 89.2 million people. This represents 40.1 percent of the country’s population.

In spite of the poverty level, Nigeria’s Minister of Information Lai Mohammed said that no government in the history of the country has alleviated poverty like the President Muhammadu Buhari administration.

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