Nigeria finally overtakes India as world’s poverty capital

After several attempts, the World Poverty Clock has disclosed that Nigeria has overtaken India as the country with the largest number of people living in extreme poverty.

Nigeria finally overtakes India as world’s poverty capital lailasnews

Before this recent report, India used to hold the position with a population of 1.324 billion people as against Nigeria’s 200 million. However the new disclosure by World Poverty Clock revealed that 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.”

Recall that in March, the International Monetary Fund had said Nigerians are getting poorer saying there is a need for coherent and comprehensive economic reforms.

With this new report from World Poverty Clock, the United Nations’ Sustainable Development Goal (SDG) to end extreme poverty by 2030 may be unattainable even as Africa faces major population increase.

According to the UN, By 2050 around 2.2 billion people could be added to the global population and more than half of that growth will come from Africa. It also predicts that Nigeria will become the world’s third largest country by then.

The World Poverty Clock report further states that of the 10 countries on this extreme poverty list, only Ethiopia is on track to meet the United Nations’ SDG of ending extreme poverty by 2030.

It also says outside the top 10, only Ghana and Mauritania are on track with the target. See the list of top 10 extremely poor countries below: Nigeria leads with 86.9 million people and is closely followed by D.R Congo with 60.9 million people. Ethiopia is next with 23.9 million people, followed by Tanzania with 19.9 million.

Mozambique comes next with 17.8 million while Kenya has 14.7 million people living in extreme poverty. The least four are Uganda, South Africa, South Sudan and Zambia with 14.2, 13.8, 11.4 and 9.5 respectively.

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