Leading financial institution, the World Bank has stated that 129 million Nigerians are poor.
The global bank stated this in its most recent development update on Nigeria.
With the bank estimating Nigeria’s population at 223 million, based on data published on its official website, what this would imply is that six out of every 10 Nigerians are poor.
The development comes amid tough economic challenges spurred by inflation facing the country.
With food inflation put at 37.7 percent, many citizens of the country have continued to lament hardship following the policies of President Bola Tinubu’s administration.
It also comes amid rising hunger level with Nigeria ranking 110 out of 127 countries in the recently released Global Hunger Index.
While the government has continued to state its commitment to tackling the economic issues, data continues to raise concerns.
Already, 26.4 million Nigerians are said to be at risk of food insecurity in 2024.
The UN warned in July 2024 that 82 million Nigerians may go hungry soon.
Some of these issues have been blamed on government policies that border on Naira devaluation, fuel price increase, among others.
