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Nigeria beats India to first position as the world's poverty capital - Report

Nigeria beats India to first position as the world's poverty capital - Report

- India has been overtaken by Nigeria as the world's poverty capital

- According to a report by Brookings Institution, at the end of May 2018, Nigeria had about 87 million people in extreme poverty, compared with India’s 73 million

- The report says that the Democratic Republic of the Congo could soon take over the number 2 position

A report by Brookings Institution has shown that Nigeria has now taken over from India as the nation with the highest number of extremely poor people.

The Cable reports that India previously held the position with a population of 1.324 billion as against Nigeria's 200 million.

Legit.ng gathers that the report indicated that the number of Nigerians in extreme poverty increases by six people every minute.

The report reads: “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.

“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.

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“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."

Meanwhile, Legit.ng previously reported that the United States of America announced a $92.73 million (N43.86 billion) developmental fund assistance to Nigeria.

The fund, the US said is to help Nigeria fight extreme poverty within the nation. The US government through the US Agency for International Development (USAID) said the money was an additional development assistance to support the five-year $2.3 billion agreement signed with the Nigerian government in 2015.

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Source: Legit.ng

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