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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.
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 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.
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 ...
Nigeria is the most populated African nation with 42.54% of the population falling within the age group of 0 -14. [49] Despite the population growth and its status as an OPEC member, Nigeria has 51% of the population living in extreme poverty, with some people living on as little as $1.90 a day. [50]
Critics argue that the Poverty-Growth-Inequality Triangle looks at aggregate concepts in a way that ignores the processes behind those concepts. Critics say terms like "poverty," "inequality," and "growth" are too broad. Instead, critics suggest that poverty should be traced back to individual behavior. [10] Developmental economists Abhijit ...
Female empowerment in Nigeria is an economic process that involves empowering Nigerian women as a poverty reduction measure. [1] [2] Empowerment is the development of women in terms of politics, social and economic strength in nation development. It is also a way of reducing women's vulnerability and dependency in all spheres of life.
Poverty and lack of access to birth control can lead to population increases that put pressure on local economies and access to resources, amplifying other economic inequality and creating increase poverty. [256] [93] [257] Better education for both men and women, and more control of their lives, reduces population growth due to family planning.