Nigeria has now taken over as the
nation with the highest number of extremely poor people, a report by Brookings
Institution has shown.
Before now, India used to hold
the position with a population of 1.324 billion people as against Nigeria’s 200
million.
According to the report, the
number of Nigerians in extreme poverty increases by six people every minute.
“According to our projections,
Nigeria has already overtaken India as the country with the largest number of
extreme poor in early 2018, and the Democratic Republic of the Congo could soon
take over the number 2 spot,” it read.
“At the end of May 2018, our
trajectories suggest that Nigeria had about 87 million people in extreme
poverty, compared with India’s 73 million. What is more, extreme poverty in
Nigeria is growing by six people every minute, while poverty in India continues
to fall.
“In fact, by the end of 2018 in
Africa as a whole, there will probably be about 3.2 million more people living
in extreme poverty than there is today.
“Africans account for about
two-thirds of the world’s extreme poor and that If current trends persist,
Africa will account for nine-tenths by 2030.
“Fourteen out of 18 countries in
the world—where the number of extreme poor is rising—are in Africa.”
In March, the International
Monetary Fund had said Nigerians are getting poorer saying there is a need for
coherent and comprehensive economic reforms.
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