Home Business Nigeria’s Poverty Crisis: 75.5% of Rural Population Lives Below Poverty Line
Business

Nigeria’s Poverty Crisis: 75.5% of Rural Population Lives Below Poverty Line

Share
World Bank Approves Fresh $700m Loan for Nigeria
Share
  • The World Bank reports that 75.5% of rural Nigerians live below the poverty line, highlighting deepening economic hardship and inequality in the country’s hinterlands.

  • The report notes significant regional disparities, with poverty rates higher in northern geopolitical zones (46.5%) compared to southern zones (13.5%).

The World Bank’s April 2025 Poverty and Equity Brief for Nigeria paints a grim picture of worsening economic hardship and inequality across the country.

According to the report, a staggering 75.5% of rural Nigerians live below the poverty line, reflecting the deepening crisis in the nation’s hinterlands.

The report highlights significant regional disparities, with poverty rates in northern geopolitical zones standing at 46.5% compared to 13.5% in southern zones.

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

Inequality measured by the Gini index was estimated at 35.1 in 2018/19, underscoring the persistent economic divide across the country.

The demographic analysis reveals that children, women, and those without formal education are disproportionately affected by poverty.

READ ALSO:Ezekwesili Slams Down Bribery Claims, Reaffirms Support for Natasha

“Nigeria’s Prosperity Gap — the average factor by which individuals’ incomes must be multiplied to attain a prosperity standard of $25 per day for all — is estimated at 10.2, higher than most peers,” the report states.

The World Bank calls for urgent policy action to shield vulnerable groups from inflationary shocks and drive job creation through more productive economic activities.

“Living standards of the urban poor are hardly improving, and jobs that would allow households to escape poverty are lacking,” the report notes.

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Nigeria’s Crude Oil Production Increases to 1.41mbpd
Business

Crude Oil Price Crash Threatens Revenue, Naira Stability

Brent crude prices have plummeted to $59.25 per barrel, threatening Nigeria’s economy....

Power Minister Urges Cost-Reflective Tariffs Amidst N4 Trillion Debt Crisis | Daily Report Nigeria
Business

Power Minister Urges Cost-Reflective Tariffs Amidst N4 Trillion Debt Crisis

Minister of Power, Adebayo Adelabu, says the economy can no longer sustain...

CBN Reacts to Naira Devaluation
Business

Nigeria’s external reserves grew by 5.6% to $38.8bn in 2024 — CBN

Nigeria’s external reserves grew by 5.6% to $38.8 billion in 2024, driven...

Threads By Meta
Business

Meta threatens to shut down operations in Nigeria over $290 million fine

Meta threatens to shut down operations in Nigeria over a $290 million...