What percentage of Nigerians are below the poverty line?
No less than 40 per cent of Nigerians presently live below the poverty line even as the unemployment rate tops 33 per cent, a productivity report has revealed. According to the report, youth unemployment stood at 40 per cent before COVID-19 but rose to 53 per cent in the fourth quarter of 2020.
What is the percentage of poverty in 2020?
The official poverty rate in 2020 was 11.4%, up 1.0 percentage point from 2019 This is the first increase in poverty after five consecutive annual declines. In 2020, there were 37.2 million people in poverty, approximately 3.3 million more than in 2019.
What is the poverty situation in Nigeria?
Poverty in Nigeria is widespread. To date, around 40% of Nigerians live in poverty. The economy is dependent on oil, creating inherent vulnerabilities for supply chain disruptions.
What is the poverty rate in Nigeria in 2021?
His words, “The World Bank estimates that an additional one million people were pushed into poverty in Nigeria between June and November 2021, resulting in a total of about 8 million people being relinquished to poverty in 2021 and bringing our nation’s poverty headcount to about 91 million.
What is the poverty rate in Nigeria in 2020?
The Nigerian National Bureau of Statistics said in 2020 that 40% or 83 million Nigerians live in poverty. Although Nigeria’s poverty profile for 2021 has not yet been released, it is estimated that the number of poor people will increase to 90 million, or 45% of the population, in 2022.
What is the current economic situation of Nigeria?
Nigeria Economic Growth The outlook is clouded by a potentially sharper-than-expected slowdown in China and a low vaccination rate amid lingering Covid-19 uncertainty. FocusEconomics panelists see GDP growth coming in at 2.8% in 2022, which is up 0.1 percentage points from last month’s forecast, and 2.8% in 2023.
What is todays poverty rate?
According to the latest data from the U.S. Census Bureau — namely, the 2019 American Community Survey, 5-Year Estimates — the U.S. poverty rate nationally is 13.4%. This means that 13.4% of the national population lives below the poverty line.
What is the current poverty rate?
The official poverty rate in 2020 was 11.4 percent, up 1.0 percentage point from 10.5 percent in 2019. This is the first increase in poverty after five consecutive annual declines (Figure 8 and Table B-4).
What is the current unemployment rate in Nigeria?
approximately 9.01 percent
In 2020, the unemployment rate in Nigeria was at approximately 9.01 percent.