Do we actually believe such information from world bank? This made me start thinking. Please read attentively to get educated it's worth it.

My grandfather lived all his life on "less than five dollar per day"- world bank definition of poverty.
But was my grandfather actually poor?
My grandfather owned a large farm, he cultivates yam, cassava, millet, cocoa, beans, groundnut, he has plantain and banana also.

From these produce, he and his family consume them without having to depend on spending money or buying food the excess he sells it and use it to buy one or two things in the house.

He also have a farm where he rare goats (not in large scale) have some few cattles and have a little chicken farm as his side hustle.

When he wants to take juice, he plucks from the mango tree, orange tree, tangerine trees in his compound and takes milk from his cattles to make yoghurt.

He had no need for money because he lives in his own house with 12 children and three wives and have all the products he needs.He trained all his children to school by selling 1 of his cattle each term.

He provided for all his family needs with just less than five dollar a day.
Can you conclude that this man is truly poor?

While a folk in the big city receives $8000 ( a fairly good amount for people living in naija) every year, while he finds it hard to provide meat, juice, foods for his children (4 kids) ontop all this, he doesn't even own a house.

Which of these men are poor? The one who lives on less than 5 Dollars a day, Or the one whose yearly income is $8000?

When the people living in developed world, hear that in Africa people are actually living on less than 5 dollars a day, you see their faces and they will feel bad and will say "Africans are really poor, starved and hungry"
While the man living on 5 dollars a day surprisingly he is living just fine. Many of you here live on 2k daily, that's 60k in a month, are you starved?

The currency in third world countries tends to be disproportionately undervalued in terms of its purchasing power and income.
Meaning earning $5 a day in Nigeria is more like earning $200 a week in the U.S.A.

It still thesame reason people travel abroad, and they believe they will become rich. The truth is they send like 200k to their family every month in Nigeria, and you in Nigeria will think they are rich . In actuality over there they are part of the lower middle class citizen. They are only taking advantage of the economic disparity with these two countries which I explained in the previous paragraph. Someone earning 400k every month here is better than someone earning $3000 every month in the U.S.A. lol someone wants to argue. The Nigeria man here can afford good home and even steady electricity, internet and can build a house in Nigeria, good medicals if he is without wife or kids; while a white man in the U.S.A can't afford a better home than the other or even medicals to treat himself with just $2500, if he sucks he might go into debt. He can't even afford to buy a house not to talkless of owning a truck to live in two lifetime.

Why the long post?
Making use of Western style opulence as a means or standard to measure poverty is not enough.
In Mongolia, you are a poor man if you have less than 200 cattles. Then if we use that in Nigeria. Almost all the people in the south east are poor.

So the question, are we truly the world poverty capital?

( OAM4J, Mynd44 )

People are learning

In some other develop country, medical is almost free.

DubaiLandLord2:
In some other develop country, medical is almost free.

I know but in U.S.A it cost a arm and a leg

Is this how the Buhari govt plans to fight poverty ? By changing the definition of the poverty standard?

Only a low IQ dredge will come up with such ridiculous thesis

Ekealterego:
Only a low IQ dredge will come up with such ridiculous thesis

I posted this in quora, they all agreed and analyse the situation and were reasonable.

Here on Nairaland you will see someone who is so dumb and cannot read through, and will just say nonsense without giving an intelligent analysis why this is wrong.
You Nigerians have a long way to go.
Illiterates

SarkinYarki:
Is this how the Buhari govt plans to fight poverty ? By changing the definition of the poverty standard?

Must you reduce everything to politics?
How does your brain work exactly. Did I mention Nigeria government here. Abba be reasonable for once na.

I made research and explain in economical terms given you some Lehman definition and using economic definition and principle.
But all what your intangible brain could come up with is Buhari.
Are you haunted with the spirit of Buhari or is all your life or problems is caused by Buhari.
There is life aside your childish obsession with Buhari.
This is an intelligent post meant to be analysed economically.
I don't need your contribution

soundOsonic:
Do we actually believe such information from world bank? This made me start thinking. Please read attentively to get educated it's worth it.

My grandfather lived all his life on "less than five dollar per day"- world bank definition of poverty.
But was my grandfather actually poor?
My grandfather owned a large farm, he cultivates yam, cassava, millet, cocoa, beans, groundnut, he has plantain and banana also.

From these produce, he and his family consume them without having to depend on spending money or buying food the excess he sells it and use it to buy one or two things in the house.

He also have a farm where he rare goats (not in large scale) have some few cattles and have a little chicken farm as his side hustle.

When he wants to take juice, he plucks from the mango tree, orange tree, tangerine trees in his compound and takes milk from his cattles to make yoghurt.

He had no need for money because he lives in his own house with 12 children and three wives and have all the products he needs.He trained all his children to school by selling 1 of his cattle each term.

He provided for all his family needs with just less than five dollar a day.
Can you conclude that this man is truly poor?

While a folk in the big city receives $8000 ( a fairly good amount for people living in naija) every year, while he finds it hard to provide meat, juice, foods for his children (4 kids) ontop all this, he doesn't even own a house.

Which of these men are poor? The one who lives on less than 5 Dollars a day, Or the one whose yearly income is $8000?

When the people living in developed world, hear that in Africa people are actually living on less than 5 dollars a day, you see their faces and they will feel bad and will say "Africans are really poor, starved and hungry"
While the man living on 5 dollars a day surprisingly he is living just fine. Many of you here live on 2k daily, that's 60k in a month, are you starved?

The currency in third world countries tends to be disproportionately undervalued in terms of its purchasing power and income.
Meaning earning $5 a day in Nigeria is more like earning $200 a week in the U.S.A.

It still thesame reason people travel abroad, and they believe they will become rich. The truth is they send like 200k to their family every month in Nigeria, and you in Nigeria will think they are rich . In actuality over there they are part of the lower middle class citizen. They are only taking advantage of the economic disparity with these two countries which I explained in the previous paragraph. Someone earning 400k every month here is better than someone earning $3000 every month in the U.S.A. lol someone wants to argue. The Nigeria man here can afford good home and even steady electricity, internet and can build a house in Nigeria, good medicals if he is without wife or kids; while a white man in the U.S.A can't afford a better home than the other or even medicals to treat himself with just $2500, if he sucks he might go into debt. He can't even afford to buy a house not to talkless of owning a truck to live in two lifetime.

Why the long post?
Making use of Western style opulence as a means or standard to measure poverty is not enough.
In Mongolia, you are a poor man if you have less than 200 cattles. Then if we use that in Nigeria. Almost all the people in the south east are poor.

So the question, are we truly the world poverty capital?

( OAM4J, Mynd44 )

Total consumption value is considered when computing that the data. They will value the consumption in dollars.

soundOsonic:


Must you reduce everything to politics?
How does your brain work exactly. Did I mention Nigeria government here. Abba be reasonable for once na.

I made research and explain in economical terms given you some Lehman definition and using economic definition and principle.
But all what your intangible brain could come up with is Buhari.
Are you haunted with the spirit of Buhari or is all your life or problems is caused by Buhari.
There is life aside your childish obsession with Buhari.
This is an intelligent post meant to be analysed economically.
I don't need your contribution

Sharap !! We know who you work for

soundOsonic:

I posted this in quota, they all agreed and analyse the situation and were reasonable.

Here on Nairaland you will see someone who is so dumb and cannot read through, and will just say nonsense without giving an intelligent analysis why this is wrong.
You Nigerians have a long way to go.
Illiterates

You don't even know the difference between Quora and Quota..

I get what OP is saying. Sometimes, people in the village live better than let's say people in the city because they have access to food they have grown. Likewise, someone in America earning $2000 a month salary will still struggle because rent alone can take up $1500 a month and you have not even considered feeding expenses, transportation, utilities, childcare expenses if you have kids, etc. So yes, you cannot compare poverty standards based on western standard of living because cost of living differs. $1000 a month salary will be considered a decent salary in many if not most developing countries whereas the same $1000 a month salary will not be sufficient to live on in the United States.

dasparrow:
I get what OP is saying. Sometimes, people in the village live better than let's say people in the city because they have access to food they have grown. Likewise, someone in America earning $2000 a month salary will still struggle because rent alone can take up $1500 a month and you have not even considered feeding expenses, transportation, utilities, childcare expenses if you have kids, etc. So yes, you cannot compare poverty standards based on western standard of living because cost of living differs. $1000 a month salary will be considered a decent salary in many if not most developing countries whereas the same $1000 a month salary will not be sufficient to live on in the United States.

Finally somebody that have sense.
The rest do not understand my post.
Poverty standard shouldn't be based on how much money you have, but how well you are living.

Ekealterego:
Only a low IQ dredge will come up with such ridiculous thesis

Your mumu brain should know that was auto-correct. Keyboard dictionary doesn't have the word "Quota"
Why are you so dumb. You shouldn't have children aswear.

lionshare:


Total consumption value is considered when computing that the data. They will value the consumption in dollars.

Now what I am saying is that- such method isnot enough.
Using something as basic as money to quantify poverty isnot enough.
A man with asset worth millions but have 5000 naira at hand isn't poor. If an aboki have 100 cattles and has 10 naira at hand doesn't make him a poor man.
The definition of poor shouldn't be based on ones purchasing power but on ones standard of living.
That is how it has always been.

soundOsonic:

I posted this in quora, they all agreed and analyse the situation and were reasonable.

Here on Nairaland you will see someone who is so dumb and cannot read through, and will just say nonsense without giving an intelligent analysis why this is wrong.
You Nigerians have a long way to go.
Illiterates

First and foremost, they are not talking about land owning (fertile), people with access to that land, producers into consideration when talking about those things. Another thing is evolution. People who were hunter gatherers living in the cave can't be considered poor in their time and generation, neither can we consider landowining subsistent farmers as "poor" if their land is productive.

As the world evolves, definition of subsistence, wealth, health also increases. 400 years ago, co2 pollution, HIV aids, vaccinations didn't exist. life expectancy in most places were lower.

The evolution of the modern word demands more purchasing power. As we evolve from cave men and hunter gatherer to nomadic animal keepers to subsistent farmers, definition of what is okay and what is not is adjusted and redefined.

Now, to you talk about poverty and 5 dollars. You must consider that economist do not mean 5 dollars as per raw 5 dollars, they are adjusted for PPP, purchasing power parity. If you consider the worth of your grandfather's produce against today's price in the city, maybe it might be more or less depending on how much he is producing.

A lot of nairalanders won't understand what you are trying to say. Because most of them here believes on living large, spending 50k in a day before you can be considered not poor. I keep telling some people, a lot of people in the villages are not poor, you can never see people in my village go hungry.

Jamestown123:
A lot of nairalanders won't understand what you are trying to say. Because most of them here believes on living large, spending 50k in a day before you can be considered not poor. I keep telling some people, a lot of people in the villages are not poor, you can never see people in my village go hungry.

Did you people even attend any economics class at all? Do you know how the concept of poverty came about?

In as much as one might have a feeling of personal satisfaction.... Poverty as defined by economists or economist is not subjective but rather an objective calculation of fact.

There are multi-variable factors entered into figuring out this poverty thing. And yeah, adjustments are made for all these things you are talking about when we are calculating it.

Human beings evolved, the cave men could as well claim that they are not poor which is true in their own time, but this is 2022 and definition of things will evolve as civilisation and evolution occurs.