105 million Nigerians now extremely poor – New World Report reveals

A new international study has revealed that more Nigerians have become extremely poor.

According to data released by World Poverty Check, more than 105 million Nigerians are extremely poor.

In September 2020, a total of 40.1 per cent of Nigerians lived in extreme poverty. This number has drastically changed, however, in less than two months.

Information from the data seen on Thursday reveals the adverse impact of the Coronavirus pandemic on living conditions in the country.

Nigeria has a total population of 205,323,520 people – of that number, 105,097,856 representing 51 per cent of the county live below the poverty line, the data records. 51% of Nigerians now live below $1.90 or N855 a day.

The data further shows that more men in Nigeria are extremely poor compared to their female counterparts.

Around 53,133,553 million men are living below the poverty threshold while 51,564,303 of women are also extremely poor.

Current data, however, shows that Nigeria falls short of this target with -4.4 people escaping poverty per second.

The data reflects the impact of the Coronavirus pandemic on living conditions in the country. 

The model also provides a target escape rate that Nigeria must meet to escape extreme poverty – it is set at 0.3 people per second.