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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.
This is a list of Nigerian states by poverty rate as of 2019. The international poverty rate used by the World Bank is used in the following list. The estimates can therefore differ from other estimates, like the national poverty rate.
with lowest economic class based on the World Bank's international poverty lines of $2.15 and $3.65 a day Country Region World Bank Income group (2024) Extremely poor: Less than $2.15 a day Moderately poor: $2.15 to less than $3.65 a day Not extremely or moderately poor: $3.65 or above a day Afghanistan: South Asia Low income
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.
Poverty is a state or condition in which an individual lacks the financial resources and essentials for a basic standard of living. Poverty can have diverse environmental, legal, social, economic, and political causes and effects. [1]
It was raining heavily during the boat's passage and the river was full of debris. Eventually the boat capsized. Blankson swam in and out of the river 13 times to rescue the passengers. Suffering from exhaustion, he drowned on the 14th rescue attempt. [4] [7] [8] It was reported that Blankson was the only fatality in the boat accident. [1] [2] [9]
Gallegos, like many in the nation's poorest neighborhoods, doesn't have air conditioning. The 68-year-old covers his windows with mattress foam to insulate against the heat and sleeps in the ...
Nigeria is the most populated African nation with 42.54% of the population falling within the age group of 0 -14. [46] 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.