According to the World Poverty Clock , Nigeria’s struggle with overpopulation will be a problem now, rather than in 2050. Nigeria will by February 2018 overtake India as the country with the most people in extreme poverty. Currently, 82 million Nigerians live in extreme poverty, which is 42.4 percent of Nigeria’s population.
The World Poverty Clock , a brainchild of the World Data Lab, tracks poverty estimates in about 99.7 percent of the countries in the world, using data obtained from the International Monetary Fund, World Bank, United Nations, and the governments of these countries. Using this data, it estimates the rate at which poverty is being reduced globally, and also how many more people are becoming extremely poor in these countries.
Living in extreme poverty as defined by the World Bank is living under $1.90 per day. People living in extreme poverty are unable to meet their minimal needs for survival. The first goal of the Sustainable Development Goals , set by the UN in 2015 is to “eradicate extreme poverty for all people everywhere by 2030”. To achieve that globally, by putting it into numbers, 90 people need to leave poverty every minute to eradicate poverty totally by 2030.
However, there is a shortage of about 9.5 million people globally per year. Presently, The World Poverty Clock, which monitors live estimates of global extreme poverty predicts that for the 2030 SDG target to be met in Africa, 57 people have to leave extreme poverty every minute. However, that is not the case, as on the average, 9 people rather than leaving, enter extreme poverty every minute. Nigeria and the Democratic Republic of Congo are both responsible for the 9. Nigeria needs 11.9 people per minute to escape extreme poverty, but presently has a deficit of 6.8 people every minute, i.e. 6.8 people enter into poverty every minute.
For Nigeria, its problem is its population. Nigeria’s population is growing faster than its economy. Between 1990 and 2013, Nigeria’s population increased by 81 percent. By 2050, going by the speed of its present population growth rate, Nigeria will be the third most populous country in the world. By passing the 400 million mark, it will be taking over from the U.S.A. and be only behind China and India.
On the contrary, in recent times, Nigeria’s recent dwindling oil wealth due to the global oil price reduction, with oil being the mainstay of its economy, meaning its oil-dependent GDP would be affected too. The country’s economy was hit hard by the recent recession in the country. IMF projects GDP to rise by only 0.8 percent in 2018, after the recession since 2016 had slowed down the economy.
Nigeria’s mean household income per capita is $1168, as compared to India’s $1759. However, this wouldn’t be an accurate measure of the welfare of the average Nigerian. What would be accurate to measure the economic growth as compared to its growing population will be the wealth distribution. More wealth is concentrated with the elites, despite the country’s oil wealth, than among the people. Those who have access to this oil wealth through politics have been the major recipients of the wealth. The high rate of unemployment, endemic corruption, the lack of basic social amenities for millions of people, the difficulty in doing business and the millions living in poverty are all consequences of the huge inequality in Nigeria.
Hence, Nigeria’s rising extreme poverty numbers isn’t unexpected. Instead, it’s a direct result of years of negligent and ineffective government policies. It’s dependence on oil for years and an inability to generate non-oil revenue has led it to this. Even now, Nigeria’s 2018 record budget is running on a deficit and will be funded by much borrowing with government debts also on the rise. It would be extremely difficult for the country to meet that 1st goal of the SDGs, which all the other goals are more or less dependent on.
The solution to this problem would be the formation of a credible policy aimed at eradicating poverty. The clock is ticking.

http://venturesafrica.com/nigeria-set-to-become-the-extreme-poverty-capital-by-2018/

Officially we are there

lalasticlala can this be true

I laughed at my stupid igbo neighbour, a tenant for that matter, whose wife had 5 children after just 5 years of marriage. You think are these people mad? The wife is jobless on top.

Lair God will deliver us from foreign media.

johnmartus:
Lair God will deliver us from foreign media.

Please explain thanks.

NdiaraIGBO:


Please explain thanks.

because Nigeria government refused to borrow money from IMF that's why the IMF collaborating with media to tarnish the image of present administration.

johnmartus:
because Nigeria government refused to borrow money from IMF that's why the IMF collaborating with media to tarnish the image of present administration.

Education is really a luxury in the North.

NdiaraIGBO:
I laughed at my stupid igbo neighbour, a tenant for that matter, whose wife had 5 children after just 5 years of marriage. You think are these people mad? The wife is jobless on top.

That your imaginary Igbo neighbour and his family have a better chance of eating 3 times in a day than your poverty ridden family.

in your own Case.

amjoseph19:

Education is really a luxury in the North.

Everything happening in this era; from recession to this now. God will take us out of it again...

Ahead of Afghanistan and Syria and Sierra Leone? I say bullsh1t.

Another propaganda from the west to demoralize the country even as the country battles home grown terrorism probably sponsored by the West.

els0nm0rali:
Ahead of Afghanistan and Syria and Sierra Leone? I say bullsh1t.

Another propaganda from the west to demoralize the country even as the country battles home grown terrorism probably sponsored by the West.

We need to see indexes

Omooba77:


We need to see indexes

There's no way true indices show countries like Liberia, Afghanistan and Syria better than Nigeria.

Whoever listens to these useless reports is just wasting his time.

I don't blame them though. The world has always kicked a man when he's down. Nigeria is at its lowest ebb right now, thanks to incompetent leaders.

Vitamined Rice from Akwa Ibom will balance that. Herdsmen cow colonies everywhere will neutralise poverty.

Once The Cow-colonies are thriving and Ogbe and Buhari are happy together, there will be no need to revive ailing and closed Textiles and other Industries.

The CBN can go on misappropriating Nigerian Funds at his Master's voice.

Anyone looking at the standard of living across Nigeria will have proof that the report is TRUE.
Poverty everywhere in Nigeria. What a SHYTE HOLE!

Omooba77:
Everything happening in this era; from recession to this now. God will take us out of it again...

The truth of the matter is that every nations of the world believed in God. God has given us everything we need to be great. It is now left for us to manage it well.

If corruption, bad governance and incompetence are the order of the day, there's no way a nation will be doing fine.

It's high time Nigeria move away from being a consuming country to a producing country

Bodexman:


The truth of the matter is that every nations of the world believed in God. God has given us everything we need to be great. It is now left for us to manage it well.

If corruption, bad governance and incompetence are the order of the day, there's no way a nation will be doing fine.

It's high time Nigeria move away from being a consuming country to a producing country

It start when our President trust our Doctors plus our agbo, instead running everytime to UK.

amjoseph19:

Education is really a luxury in the North.

if majority of people in the north thinks like that guy you quoted, then the south is really in trouble, cause we will never develop.

Total disintegration is the solution to this country problem

Omololu2121:
if majority of people in the north thinks like that guy you quoted, then the south is really in trouble, cause we will never develop.

Total disintegration is the solution to this country problem

They are only saying realities; what each region belief...

Very soon we will become the country with highest number of IDPs

bros, calm down and sai baba.

debaj10:
bros, calm down and sai baba.

I drink 10 days urine?

debaj10:
bros, calm down and sai baba.

I drink 10 days urine?

johnmartus:
because Nigeria government refused to borrow money from IMF that's why the IMF collaborating with media to tarnish the image of present administration.

Now i understand.

amjoseph19:

That your imaginary Igbo neighbour and his family have a better chance of eating 3 times in a day than your poverty ridden family.

Ok, dey deceive una self.

If am to be sincere most people did not read the post they just went to the comment section except for the maybe 1st to 3rd comments