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133 Million Nigerians Are Multidimensionally Poor
The National Bureau of Statistics has revealed that 63 per cent of persons living in Nigeria are multidimensionally poor. This is about 133 people of the over 200 million people living in the country. NBS highlighted this in its 2022 Multidimensional Poverty Index (MPI) Survey. According to the report, over half of the population of…
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Nigeria Plans N5000 Each In Cash Handouts To Replace Fuel Subsidies
The Nigerian government is planning to replace fuel subsidies in 2022 with cash handouts of up to N5000, an amount that would cost the country up to 2.4 trillion naira in a year. According to Finance Minister, Zainab Ahmed, the government will give 5,000 naira each to as many as 40 million people every month,…
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How Corruption In Nigeria’s Leading Sectors Drive-Up Poverty Rates
Would things get better? Every election term, Nigeria’s citizens vote in a new set of public office holders, again setting themselves up for the worse. As poverty rates climb higher and the gap between the rich and poor grows wider, one thing is unflinching; Corruption. Budget fraud, procurement fraud and outright embezzlement in sectors like…
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‘27.4 Million Nigerians Earn Less Than N100,000 Per Annum’
The Socio-Economic Rights and Accountability Project has said that 27.4 million Nigerians earn below N100,000 per annum. It said the figure represented 48.9 percent of persons living in poverty in the country. It made the declarations at the launch of a report entitled: “The Ignored Pandemic: How Corruption in the Health, Education and Water Sectors…
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Number Of Poor Nigerians May Hit 100 Million By 2022 – World Bank
The World Bank has forecasted the number of Nigerians living below the poverty level may hit 100 million by 2022, a 20 million increase of the current figure. Gloria Joseph-Raji, World Bank senior economist, made this known while speaking on Tuesday at the launch of a 2021 macroeconomic outlook report by the Nigeria Economic Summit…