Why is nigeria in poverty

Stephen Onyeiwu does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment. Nigerians have been justifiably confused by conflicting poverty data presented by the Muhammadu Buhari administration and the World Bank. According to Buhari, his administration has lifted But no sooner had he made the statement than the World Bank asserted that inflation has plunged seven million Nigerians into poverty.

These statements might seem to be contradictory to non-economists. But closer analysis suggests that Buhari and the World Bank are right — depending on how poverty is measured. This minimum amount is deemed adequate to maintain an acceptable living standard, given the cost of living in a given country. Based on this measure, Buhari is right to claim that — by transferring cash to 12 million households during the past five years — a majority of these Nigerians have exceeded the income threshold.

Therefore, they have escaped poverty. The other measure is known as the multidimensional poverty measure. It said the highest poverty levels were in the northwest state of Sokoto, where Published On 4 May More from Economy. China-US declaration on climate only first step, analysts say.

Without adequate medical treatments, millions fall victim to poverty and lack the resources to access opportunities. Doctors Without Borders cuts the problem at its source. Drawing on donations from across the world, the group treats more than 50, Nigerians for malaria, a disease mostly eliminated in the Western world but greatly affecting developing countries in sub-Saharan Africa where hundreds of thousands died in alone.

At the same time, Doctors Without Borders has taken a multipronged approach by increasing hospital admission rates, allowing more than 60, Nigerians to receive necessary medical treatment in a hospital facility. These facts paint an optimistic picture of Nigerian development. Increases in life expectancy and strong economic growth can also make substantive impacts on poverty alleviation. In the coming years, better resource allocation on the part of the Nigerian government can allow more flexible responses to the challenges facing the nation.

Blog - Latest News. The economy is dependent on oil, creating inherent vulnerabilities for supply chain disruptions. Depending on the stability of the wider world, millions of additional Nigerians could fall into poverty within a relatively short span of time.

A view of the Makoko community is pictured in Lagos, Nigeria May 5, The World Bank expects the Nigerian inflation rate in to be The forecast for sub-Saharan Africa, excluding Nigeria, is 5.