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Poverty is the lack of, or the inability to achieve socially acceptable standard of living. [34] Officially, there is no poverty line put in place for Nigeria but for the sake of poverty analysis, the mean per capita household is used. So, there are two poverty lines that are used to classify where people stand financially.
According to World Bank, "Poverty headcount ratio at a defined value a day is the percentage of the population living on less than that value a day at 2017 purchasing power adjusted prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions."
Nigeria is the most populous country in Africa; a residence for more than 206 million people. [1] Hunger is one of the major issues that affect the citizens. 40% (82 million people) of the citizens live below the International Poverty Line of $1.90 daily, whilst another 25% are vulnerable.
The United Nations children's agency, UNICEF, plans to commit $270 million to Nigeria's humanitarian and poverty alleviation efforts and pledged to help set up an emergency operation centre, its ...
The estimates can therefore differ from other estimates, like the national poverty rate. Nigeria is the country with the most people living in extreme poverty worldwide since 2019, overtaking much more populous India. [1] The poverty rate in Nigeria remains one of the world's highest and is especially high in the north of the country.
Poverty in Nigeria remains significant despite high economic growth. [1] Nigeria has one of the world's highest economic growth rates (averaging 7.4% [ 2 ] over the last decade), an underdeveloped economy, and plenty of natural resources such as oil.
The table below presents the latest Human Development Index (HDI) for countries in Africa as included in the United Nations Development Programme's Human Development Report, released on 13 March 2024 and based on data collected in 2024. [1] As of 2024, all African UN member states are included in the report.
Poverty in Africa is the lack of provision to satisfy the basic human needs of certain people in Africa. African nations typically fall toward the bottom of any list measuring small size economic activity, such as income per capita or GDP per capita, despite a wealth of natural resources.