Nigeria’s Multidimensionally Poor People Increased By 12m -OPHI

  • Nigeria’s Multidimensionally Poor People Increased By 12m -OPHI

The United Nations Development Programme and the Oxford Poverty and Human Development Initiative (OPHI) have said Nigeria’s multidimensionally poor people increased from 86 million to 98 million in the last 10 years.

The report released on Thursday in New York stated that while the percentage of people who “are multi-dimensionally poor” remained constant at just over 50 per cent, the number surged over the same period.

It stated, “In Nigeria, even though the proportion of people who are multi-dimensionally poor has remained constant at just over 50 per cent over the past decade (up to 2017), the actual number of people who are multi-dimensionally poor increased from 86 million to 98 million over the same period.

“Also, important to note is that when compared to the national poverty line which measures income/consumption, a larger proportion of Nigerians (51 per cent) are multi-dimensionally poor than those that are income poor (46 per cent).”

The Global Multidimensional Poverty Index (MPI) determines poverty level beyond income-based lists by capturing the several deprivations that each person faces at the same time with respect to education, health and standard of living.

The same MPI that showed poor people in Nigeria increased by 12 million between 2007 and 2017, highlighted India success during the same period despite its huge population. India lifted 271 million people out of poverty.

It should be recalled that Bill & Melinda Gates Foundation, in a report published in September 2018, projected that over 40 percent of the world’s poorest people will live in Nigeria and DR Congo by 2050.

Mrs Theresa May, UK Prime Minister, also stated that 87 million Nigerians are living below $1.90 a day, making it home to extremely poor people.

“Much of Nigeria is thriving, with many individuals enjoying the fruits of a resurgent economy. Yet 87 million Nigerians live on less than $1.90 a day, making it home to more very poor people than any other nation in the world,” May stated.

The growing number of extremely poor people in Africa’s largest economy is alarming and needs to be addressed to avert future catastrophe amid Boko Haram and other national crisis.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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