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Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report that was released in July 2019 by the World Bank. [1] Following the oil price collapse in 2014–2016, combined with negative production shocks, the GDP growth rate dropped to 2.7% in 2015.
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.
Kibera is the largest slum in Nairobi, Kenya.. 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.
Global map of countries by poverty headcount ratio at $2.15 a day (2017 PPP) (% of population), 2021 [1] Global map of countries by poverty headcount ratio at $3.65 a day (2017 PPP) (% of population), 2021 [2] Global map of countries by poverty headcount ratio at $6.85 a day (2017 PPP) (% of population), 2021 [3]
USAID, a crucial humanitarian agency created by President John F. Kennedy in 1961, was unexpectedly closed by Donald Trump, sparking concerns over the impact on global aid and U.S. national ...
Nigeria was ranked by the World Bank as among the 20 poorest in the world. [7] To revive the economy, Shonekan resumed talks with the IMF and World Bank and the took the unpopular decision to remove subsidies on petroleum products, thereby raising the price by 700%. The Nigerian Labour Congress went on strike over the price increase.
Multidimensional Poverty Indices uses a range of indicators to calculate a summary poverty figure for a given population, in which a larger figure indicates a higher level of poverty. This figure considers both the proportion of the population that is deemed poor and the 'breadth' of poverty experienced by these 'poor' households, following the ...
The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It is a 2007 book by Paul Collier, Professor of Economics at Oxford University, exploring the reasons why impoverished countries fail to progress despite international aid and support. In the book Collier argues that there are many countries whose residents ...