Home General News Business Nigeria Dominates 43% of World Poorest People – World Bank

Nigeria Dominates 43% of World Poorest People – World Bank

by James Kase
7 views

Nigeria Dominates 43% of World Poorest People – World Bank: Global economic growth could rebound next year but the number of people living in extreme poverty is expected to remain unchanged after a huge surge this year due to the coronavirus pandemic, the World Bank warned Tuesday.

The bank said three countries (India – 24%, Nigeria – 12%, DR Congo – 7%) with the highest shares of the world’s extremely poor are not projected to grow faster than their population, meaning that extreme poverty will remain at the elevated 2020 levels through 2021.

SEE ALSO: 2019 Polls: 18 Electoral Offenders Facing Trial in Seven States – INEC

The projection came after the Washington-based development lender said Monday the pandemic could drive between 70 and 100 million people into extreme poverty in 2020 as the global economy faces its worst recession in 80 years.

world bank world poorest people in nigeria

world bank world poorest people in nigeria

Before the pandemic, extreme poverty – defined as living on $1.90 per day – had been decreasing.

The bank expects growth to rebound by four percent in 2021.

“Nigeria, India and the Democratic Republic of Congo — three countries which we project are home to more than a third of the world’s poor – are predicted to have per-capita growth rates in real GDP of –0.8 percent, 2.1 percent and 0.3 percent, respectively.

“With population growth rates of 2.6 percent, 1.0 percent and 3.1 percent, this is hardly enough for sustainable decreases in the poverty headcount,” the World Bank said in a blog.

READ ALSO: OAUTHC School of Health SHIM Admission Form 2020/2021

The bank warned “South Asia may see a larger increase in the number of poor as a result of COVID-19,” particularly in India.

Of the 176 million people expected to be pushed below the $3.20 per-day poverty line, two-thirds are in South Asia.

Related Posts

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More