Number Of Poor Nigerians Likely To Hit 100m By 2022 – World Bank

0
135
Nigerian women queuing for food. Photo: nairametrics
Number Of Poor Nigerians Likely To Hit 100m By 2022 - World Bank - Vantage News Nigeria
Nigerian women queuing for food. Photo: nairametrics

The World Bank has predicted that the number of Nigerians living in poverty will cross over 100 million by 2022.

World Bank senior economist, Gloria Joseph-Raji, said this while speaking at the launch of a 2021 macroeconomic outlook report by the Nigeria Economic Summit Group (NESG).

Joseph-Raji, who quoted the monthly COVID-19 impact survey carried out by the National Bureau of Statistics, said that many Nigerians are struggling to survive due to a poor economy.

She said that the plan of Nigeria to lift 100 million out of poverty by 2030 was already failing before the emergence of COVID-19 early last year.

The NBS had in 2020, released a report showing that 82.9 million Nigerians were living in poverty in 2019.

Joseph-Raji said, “The pace of recovery is highly uncertain. We actually consider Nigeria right now to be at a critical junction in the sense that the achievement of its development goal of lifting 100 million people out of poverty by 2030 was already challenging even before COVID-19 struck, and then COVID-19 has made this even more challenging and more urgent.”

“So, with slower growth and fewer jobs, and then coupled with high inflation, our estimates are that the number of the poor will increase by about 15 to 20 million people by 2022 from the about 83 million people in 2019. And the 2019 numbers are from the Nigeria Living Standards Survey of 2018/2019.”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.