is nigeria the poorest country in the world

Protected areas such as Cross River National Park and Yankari National Park have waterfalls, dense rainforest, savanna and India is no longer the home to the largest population dwelling in extreme poverty. The situation is exacerbated by the existence of systematic accountability challenges, limited capacities of independent institutions/ commissions and limited accountability at the federal, states and local government levels. All poor economies are in tatters because of various natural and human-made issues such as: 1. Togo has a GDP of 5.59 billion dollars for 8.2 million inhabitants. Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report released in July 2019 by the World Bank. “Nigeria is a deeply divided society considering the plurality of ethnic, religious and regional identities that define her political existence. Known for its astonishing wildlife, the flourishing tourism industry has not been able to lift the country out of poverty. More than 40% of the population is living below the poverty line. [1] Following the oil price collapse in 2014–2016, combined with negative production shocks, the gross domestic product (GDP) growth rate dropped to 2.7% in 2015. “In Nigeria, 37% of children under five years old were stunted, 18 percent wasted, 29% underweight and overall, only 10% of children aged 6-23 months are fed appropriately based on recommended infant and young children feeding practices. The police further revealed in the charge that the offences contravene section 158(2) of the penal code. Somalia is the semblance of an emerging country. “Break Nigeria into its component parts, and these parts of the country are among the poorest, if it were a country. The Which is the World’s Poorest Country? Sharing its boundaries with more than four countries, Afghanistan is located in the Central Asia and South Asia. Only a few people are living above it. There has been severe political unrest in recent years, as calls for President Joseph Kabila, who took power after the assassination of his father in 2001, reached a fever pitch in 2018. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. As such, the country's economy is rather underdeveloped. The smallest budget per capita exists in Afghanistan. The NBS report is based on data from the latest round of the Nigerian Living Standards Survey, conducted in 2018-2019 with support from the World Bank’s Poverty Global Practice and technical assistance from the LSMS program. To learn more about cookies, click here. South Sudan is the poorest country in Africa with a per capita income of $1,503 per year. The nation came third with 35 million Nigerians classified among the poorest people in the world, after China’s 72 million while India tops the list with 246 million people. The poorest countries in the world might not be as obvious as you may have assumed. Nigeria-Nigeria, an African country on the Gulf of Guinea, has many natural landmarks and wildlife reserves. Severe climatic conditions Somalia is also one of the most corrupt countries in the world. “Over 80 million Nigerians live in poverty and are affected in one way or the other by the current humanitarian crisis. ‘’The defendant without knowledge of the said Gideon Ajogi and Moses Isha, however, converted the respective statements signed in his chamber to witness statement on oath to support a fictitious petition dated Feb 27, 2018 to the secretary-general of the Nigerian Institute of Architects (NIA), against the complainant. Hotel Martha is the most expensive hotel in Burundi - the poorest country in the world. Norway The GDP of Norway ranks as the second-largest in the world. The economy of Central African Republic is largely dependent on the export of diamonds, which brings in between 40-55% of the country's export revenues. The defendants were said to have some time in 2018 invited Isha and Ajogi to his office to sign a statement to defend a suit fabricated to support a petition with the intention to cause injuries on Arch. Since independence in 1960, Nigeria has struggled to build and sustain national integration. This state is located in the North-western part of the country and due to it GDP of US$3,290, it is regarded as one of the poorest states in Nigeria and takes the 7th spot. 10 poorest countries in the world 2018 #10. Head of delegation of the European Commission to Nigeria, Leonidas Tezapsidis, says Nigeria is ranked the third country with the highest number of poor people in the world. Meanwhile, no date has been fixed for the hearing of the suit. “Nigeria’s economy is currently in a recession and it is estimated that government revenues have fallen by as much as 33 percent, which has further resulted in the contraction of the Gross Domestic Product, GDP, by 0.36 percent in the first three months of 2016. The World Bank Group works in every major area of development. The World Bank provided technical support to the NBS throughout the entire survey implementation, introducing several methodological improvements that led to the availability of reliable data for the poverty estimates. “Nigeria is well-endowed with forest resources, accounting for 2.5% of GDP. According to the charge sheet with charge no: CR/442/2020, the suspects were alleged to have tricked one Moses Isha and Gideon Ajogi into signing witness statements on behalf of the defendants to defend a suit against the complainant. ‎. Nigeria will be the ‘’poorest country in the world’’ by 2037 as global poverty shifts exclusively to Africa amidst decreasing poverty levels in Asia, Latin America and other parts of the world, says former chief economist at Goldman Waterborne diseases are also common since only 60% of the population has access to a reliable and safe water source. Most of its financials are derived from the funding from external sources. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. The majority of the population is still dependent upon agriculture for their livelihoods, leaving the country’s economy especially vulnerable to weather-related disasters. In 2019, the country's GDP increased to 119,719 USD. Despite gaining independence from Belgium in 1960, the Congo has suffered decades of dictatorship, political instability, and constant violence. ‎. The event kicked-off after the arrival of the President, Muhammadu Buhari. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Malawi is southeast Africas landlocked country that covers an area of 118,000 square km and has a population of 1… Tezapsidis stated this at a workshop for Water Supply and Sanitation Sector Reform Programme (WSSSR) and Support to Reforming Institution Programme (SRIP) in Abuja yesterday. Operatives of the Nigeria Police have filed criminal charges against a lawyer, James Idih and Otomiewo Ufuoma before the Magistrate Court in Abuja for fabricating false evidence against Architect Adamu Stephen Okunade. “For decades, different segments of Nigeria’s population had, at different times, expressed feelings of marginalization, of being short-changed, dominated, oppressed, threatened, or even targeted for elimination.”, FG warns of possible resort to chemical, biological agents by terrorists. Political instability 2. Nigeria News 2018: Is Nigeria Truly the Poorest Country in The World? However, it is estimated that up to a half of those diamonds are sold on the black market, denying the government of tax revenue and undercutting honest, hardworking businesspeople trying to do things the right way. Global data and statistics, research and publications, and topics in poverty and development, Environmental and Social Policies for Projects. Nigeria has been ranked the third nation with the poorest people in the world according to an annual global wealth report compiled by the Swiss bank, Credit Suisse. “Increase in population, human activities like farming, construction and cutting of trees, use of wood and effect of climate change lead to environmental destruction across Nigeria. )with Per capita income of $70… About 80% of the Togolese that lives outside the … Available reports indicate that there are over 3.3 million Internally Displaced Persons, IDPs, which is Africa’s largest, ranking behind Syria and Columbia on a global scale. You’ll Be Surprised To See The Wealth Of Kids! “This in turn leads to unpredictable weather, drought and floods. Her population will be approximately 200 million by 2019 and over 400 million by 2050, becoming one of the top five populous countries in the world. Exploitative colonization 5. The implication of destruction of the environment includes reduced agricultural productivity, destruction of property and loss of lives. President of the Senate, Ahmad Lawan, and other top Nigerian leaders, on Friday attended the Armed Forces Remembrance Day celebration which was held at the Eagle Square in Abuja. Gross national income, or GNI, represents the sum total of money earned by a nation’s people and businesses within a given year. With a GDP per capita of USD 876, the country is the three poorest in the world according to available data. The report was made public during a consultative meeting on the formulation of the UN Development Assistance Framework IV (UNDAF IV) for the South East geo-political zone in Awka. Okunade. Average income around the world The worldwide highest income is earned in Monaco. ‘’The alleged deponents to the statements on oath dated 26/02/2018 in support of the petition have by separate affidavits dated 14/01/2020 and 03/03/2020 before the Commissioner for Oath of the Federal Capital High Court denounced knowledge to their alleged statements on oath in support of the fictitious Petition’’. But there are some in Asia and even in the Americas. The second poorest country in the world is Mozambique with a forecasted GDP per capita of USD 502 for 2019. Yemen - GDP per capita - $925.62 Yemen is the poorest country of the Arabian Peninsula. Nigeria came third among the poorest countries in the world with 35 million Nigerians classified among the poorest people in the world while India tops the list with 246 million people. Situated 400 kilometers off the coast of East Africa, Madagascar is the fourth largest island in the world. Rampant corruption and dictatorial regimes 3. The National Bureau of Statistics (NBS) recently released the “2019 Poverty and Inequality in Nigeria” report, which highlights that 40 percent of the total population, or almost 83 million people, live below the country’s poverty line of 137,430 naira ($381.75) per year. Nigeria Is The 3rd Poorest Country In The World! Having become an independent country only in 2011, Sudan is one of the world's youngest countries. About half of Yemenis aged from 18 to 24 are not able to find work. “The vulnerable macroeconomic environment in Nigeria is affecting investors’ confidence in the domestic economy. According to the report, some part of Nigeria had at different times expressed feelings of marginalization, short changed, dominated, oppressed, threatened, and even targeted for elimination. Over 10 million children of school age are out of schools with no knowledge and skills. The Poorest Country in the World Which is the poorest countries in the world? The report read in part: “Nigeria, with a population of over 175 million, is the most populous nation in Africa and the seventh most populous in the world. Many are in Africa. Some of the charges read: ‘’Sometimes around Nov 2017 and early 2018, the defendant with the intent to maliciously injure the person of the complainant by way of fabricating false evidence invited to his chamber Gideon Ajogi and Moses Isha on separate dates to sign witness statements he made on their behalf to defend a suit. This was as the report revealed that the country was deeply divided on the basis of plurality of ethnic, religious and regional identities. A United Nations, UN, report on Nigeria’s Common Country Analysis, CCA, has described the country as one of the poorest and unequal country in the world, with over 80m of her population living below poverty line. Though this country is the poorest country in the world as of toda… Central African Republic is located in Africa and bordered by Chad to the north, Sudan to the upper east, South Sudan to the east, the Democratic Republic of the Congo to the south, the Republic of the Congo to the southwest and Cameroon to the west.The Country covered a land zone of around 620,000 square kilometers (240,000 sq mi) and had an expected estimated population 5,625,118 (July 2017 est. The Nigerian Living Standards Survey (NLSS) is the official survey that is the basis for measuring poverty and living standards in the country and is used to estimate a wide range of socio-economic indicators including benchmarking of the Sustainable Development Goals. I think know, the poorer countries are those that are recently emerging from civil war e.g. rwanda, somalia, sierra leone etc...their infrastructures is very impaired as a result of the war. This figure is in the country located west of Africa 11th in the ranking of the world’s poorest countries. Nigeria has overtaken India as the country with the largest number of people living in extreme poverty, with an estimated 87 million Nigerians, or around half of the country… These states are meant to be productive based on their available natural resources, and are meant to have a strong and honest government capable of managing these natural resources to generate its … Back in 2017 There are several reasons for the poverty in Togo, but a few that stands out is the high amount of orphans, where the parents have died in AIDS. Poverty and hunger have remained high in rural areas, remote communities and among female –headed households and these cut across the six geo-political zones, with prevalence ranging from approximately 46.9 percent in the South West to 74.3 percent in North West and North East. “Over-exploitation of natural resources and pollution of the environment, desertification are exposing the population to vulnerability and risks caused by climate change, among others. Agriculture also is the main occupation in this area. ‘’The fictitious Petition dated February 27, 2018, was supported by witness statements on oath of Otomiewo Ufaoma, with purported witness the statement on oath of Moses Isah and Ajogi Gideon To fraudulent misrepresent and support the petition. The Police averred that the evidence fabricated against the complainant, who is a respected member of the Nigerian Institute of Architects (NIA), was wilfully and intentionally executed with the sole aim to bring the component of his profession to shame. A United Nations, UN, report on Nigeria’s Common Country Analysis, CCA, has described the country as one of the poorest and unequal country in the world… Omisore Speaks | Legit TVSubscribe to Legit TV for more political and celebrity news! According to the World Bank, the country has made some major improvements in reducing poverty but things are still very unequal between the haves and the have nots. The former Portuguese colony has high hopes of transforming its … The Vice President, Yemi Osinbajo, and Speaker of the House of Representatives, Femi Gbajabiamila were also in attendance. The situation has not changed over the decades, but is increasing. Between September of 2018 and October of 2019, the National Bureau of Statistics conducted the latest round of the NLSS, a decade after the previous one. Low literacy is another reason, only 63,7% can read and write. “Despite the fact that Nigeria is a signatory to a number of protocols on sustainable and renewable environment, the country had, over the decades, failed to protect the environment, ecosystem and natural resources. This site uses cookies to optimize functionality and give you the best possible experience. Although Nigeria is one of the poorest countries in the world, it is the largest producer of uranium . Poor infrastructure is yet another cause for the weak economy. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The National Bureau of Statistics (NBS) recently released the “2019 Poverty and Inequality in Nigeria” report, which highlights that 40 percent of the total population, or almost 83 million people, live below the country’s poverty line of 137,430 naira ($381.75) per year. Between 1990 and 2000, Nigeria lost an average of 409,700 hectares of forest per year on average deforestation rate of 3.5% per annum. Civil and ethnic wars 4. “Nigeria is one of the poorest and most unequal countries in the world, with over 80 million or 64% of her population living below poverty line. As per latest data, Nigeria has gone past India to become the nation with the largest number of people living in extreme poverty. Also the report states that in recent years, there has been a growing sense that the economic recovery is shallow, and has not reached all layers of society. Things like welfare, education, access to water and sanitation, and health services have improved, but access is very unequal. “The major challenges Nigeria is currently facing that constrain her economic growth and social development are lack of good governance, general increased insecurity across geo-political zones in North East, Niger Delta and Lake Chad region in particular. Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. It also has some of the world's least developed infrastructure. 2017 GDP per Capita: USD 4392019 GDP per Capita (projected): USD 4752023 GDP per Capita (projected): USD 551Although the DRC has abundant natural resources, unfortunately with a projected 2019 GDP per capita of USD 475, the country is in the unenviably position of being the poorest country in the world. The extraction of uranium and its processing are joint ventures, a large proportion of the capital belongs to foreign companies. But Nigeria has one of the highest rates of forest loss in the world. In 2015, 55.1% of its inhabitants lived below the poverty line Here are the top 10 poorest states in Nigeria 2021 according to data from the National Bureau of Statistics (NBS) Nigeria is a country blessed with mineral resources and is made up of 36 states. After remaining on top for decades, India has been displaced by Nigeria […] We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Despite agriculture being the main occupation, the country still faces external debts. In our comparison over 79 countries, the USA comes 9th with an average income of 65,850 The population of the country is around 33 million. “Youth unemployment which is 42% in 2016 is very high, creating poverty, helplessness, despair and easy target for crime and terrorism.

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