The World Bank in a new report has stated that Nigeria currently has 79million (as of 2018) extremely poor people in sub-Saharan Africa.
According to the World Bank biennial ‘Poverty and Shared Prosperity Report’, Nigeria accounts for 20% of the total poor population in the region.
The report further added that the COVID-19 pandemic would further push 40million into extreme poverty in sub-Saharan Africa.
“Almost half of poor people in sub-Saharan Africa live in just five economies: Nigeria (79 million), the Democratic Republic of Congo (60 million), Tanzania (28 million), Ethiopia (26 million), and Madagascar (20 million).
“In Nigeria, administrative areas in the north and northeast have poverty rates higher than the national average, but poverty rates are lower in areas closer to the coast.”
The World Bank stated that the sub-Saharan Africa is the region with the largest concentration of extreme poor.
“Of the 44 economies with available poverty estimates in the region, 38 have a rate of extreme poverty higher than 10 per cent. Half of the economies have poverty rates higher than 35 per cent.
“Of the 20 economies with the largest poverty rates (based on PovacalNet estimates), 18 are in sub-Saharan Africa, and two are in the Middle East and North Africa (Syria and the Republic of Yemen).”
The report said although the economic decline in sub-Saharan Africa was projected to be more modest than in advanced economies, the pandemic “will likely spur one of the largest increases in extreme poverty: some 27 million to 40 million new poor, reflecting the large number of people who were living on the edge of poverty.”
Ibrahim Kenneth Suleiman is the Chief Political Editor at Naija Buzz News Network. He is a graduate of political science from the prestigious Ahmadu Bello University Zaria, Kaduna State. He specializes in preparing/approving of political news contents before publication. He currently heads Naija Buzz News team of political correspondents. From Nasarawa State, North-Central Nigeria, Ibrahim is a strong supporter of Manchester United Football Club England.