ICC Note: Nigeria currently tops the list of countries in the world with the most people in extreme poverty. There are roughly 82 million people in Nigeria who make less than two dollars a day. This is about 44% of their total population and puts Nigeria at the top of the list above India. Given violence by groups like Boko Haram and Fulani militants, Nigeria’s poor population grows by about six people per minute.
07/13/2018 Nigeria (Mission News Network) – Recently, Nigeria outranked India with the highest number of people in extreme poverty. Right now, more than 82 million people in Nigeria are suffering from poverty – that’s 44.2 percent of the nation’s entire population.
According to World Poverty Clock, six more people in Nigeria fall into poverty every minute.
India is improving their economy because they have one of the largest workforces in the world and are becoming more stable. On the opposite end, however, World Poverty Clock estimates that by 2030, the percentage of people living in extreme poverty in Nigeria will rise to 45.5 percent.
Causes of Nigeria’s Poverty
World Mission’s Greg Kelley shares what has led up to this economic crisis.
“It’s really the perfect storm from an economic standpoint. A lot of foreign investment has been highly discouraged just because of the instabilities in the areas and the security concerns. It’s been kidnappings of foreign workers and all kinds of violence that’s going on and it just really discourages outside investment. So, that’s a big thing and that has just pummeled the currency which is the Naira and it’s been devalued.”
Prices of food, housing, water, electricity, and other essentials have risen because of the devaluation of the Naira, making it difficult for people to get even the basic necessities.
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