According to the World Poverty Clock, created by Vienna-based World Data Lab, 91.16 million Nigerians were living below a dollar a day as of February 13, 2019. Seriously?
In June 2018, the Brookings Institution projected that Nigeria had overtaken India, as the poverty capital of the world, with 86.9 million extremely poor people.
This was further confirmed by the British Prime Minister Theresa May, who said Nigeria had become home to the largest number of very poor people in the world, putting the figures at 87 million.
“Much of Nigeria is thriving, with many individuals enjoying the fruits of a resurgent economy, yet 87 million Nigerians live below $1 and 90 cents a day, making it home to more very poor people than any other nation in the world,” the UK prime minister had said.
The Cable reports that since May made this observation in South Africa in August, the number of Nigerians living in extreme poverty has grown to 91.16 million, with six people falling into poverty every minute, according to Brookings Institution.
The bank in its explanation of poverty levels said “when estimating poverty using monetary measures, one may have a choice between using income or consumption as the indicator of well-being”.
“Most analysts argue that, provided the information on consumption obtained from a household survey is detailed enough, consumption will be a better indicator of poverty measurement than income”.
However, using the World Bank’s poverty line, if you live below $1.90 a day, you will be classified as living in extreme poverty.
To Invest & Earn High Profits
Take A Loan & Pay Low Interest
You may be interested
Van Nistelrooy Applies For Vacant Coventry Coaching Job
Webby - November 16, 2024According to talkSPORT, (Yahoo! Sport) Van Nistelrooy has already applied for the vacant manager role at Championship side Coventry City.This…
Done Deal: Falconets Forward Joins American Club Carolina Ascent
Webby - November 16, 2024Former Falconets forward Opeyemi Ajakaye has joined USL Super League club, Carolina Ascent FC on loan.Ajakaye linked up with Carolina…
Orban’s Lyon Face Provisional Relegation To Ligue 2 Amid Financial Woes
Webby - November 15, 2024Olympique Lyon the club of Nigerian striker Gift Orban, have been handed a provisional Ligue 1 relegation by theDNCG who…