• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Poverty Crisis: 75.5% of Rural Nigerians Struggling to Survive – World Bank

4 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
71
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

ChatGPT Captures 48.36% of All AI Tool Traffic

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

Poverty Crisis: 75.5% of Rural Nigerians Struggling to Survive – World Bank

The World Bank has released a report on Nigeria’s worsening economic crisis, showing that 75.5% of the rural population now lives below the poverty line, amid rising income disparities and severe economic hardship.

According to the World Bank April 2025 Poverty and Equity Brief for Nigeria, a staggering 41.3% of Nigeria’s urban population lives in poverty, with a significantly worse situation in rural areas, as economic stagnation, inflation, and insecurity continue to characterize the country’s growth trajectory in recent years.

Per the report, 30.9% of Nigerians lived below the international extreme poverty line of $2.15 per day in 2018/19, prior to the COVID-19 outbreak, according to survey data from Nigeria’s National Bureau of Statistics.

The World Bank estimated that over 54% of Nigerians will be living in poverty by 2024, due to multiple economic shocks, mounting insecurity, and uncontrolled inflation.

This translates to an additional 42 million people falling into the poverty line over the past six years.

The apex bank emphasized that poverty persists unevenly nationwide, with significant regional disparities and economic divides, despite efforts to foster inclusive growth.

Details of the World Bank report

The report reads “Nigeria remains spatially unequal. The poverty rate in northern geopolitical zones was 46.5 per cent in 2018/19, compared with 13.5 per cent for southern ones. Inequality measured by the Gini index was estimated at 35.1 in 2018/19.”

It added that “Nigeria’s Prosperity Gap — the average factor by which individuals’ incomes must be multiplied to attain a prosperity standard of $25 per day for all — is estimated at 10.2, higher than most peers.”

The bank’s analysis of demographic trends across social groups revealed that children aged 0-14 years had a poverty rate of 72.5%, while 63.9% of females and 63.1% of males lived below the lower-middle-income poverty line of $3.65 per day

It also showed how differences in education levels significantly influence poverty status. Nigerians without formal education had a poverty rate of 79.5%, those with primary education had 61.9%, and those with secondary education had 50.0%.

However, only individuals with tertiary education saw comparatively lower poverty levels at 25.4 per cent.

The report addressed the severity of multidimensional poverty in Nigeria, highlighting key indicators: 9% of households have at least one school-aged child not enrolled in school, 17.6% of adults haven’t completed primary education, 30.9% survive on less than $2.15 daily, 32.6% lack access to standard drinking water, 45.1% lack standard sanitation, and 39.4% have no electricity.

The World Bank attributed the slow progress to Nigeria’s structural economic challenges, including dependence on oil, limited diversification, low job creation, and vulnerability to climate shocks impacting rural agriculture, a primary source of rural livelihoods.

The report read, “Multiple shocks in a context of high economic insecurity have deepened and broadened poverty. Since 2018/19, an additional 42 million people fell into poverty, so that more than half of all Nigerians (54 per cent) are estimated to live in poverty in 2024, based on World Bank projections.

“Although recent macroeconomic reforms have begun to stabilize the economy, inflation remains high, dampening consumer demand and continuing to undermine the purchasing power of Nigerians. Labor incomes have not kept up with inflation, pushing many Nigerians, particularly in urban areas, into poverty.”

The World Bank noted recent government efforts to stabilize the economy, but emphasized that beyond temporary measures, such as cash transfers for 15 million households, the country must strengthen its poverty alleviation programs, invest in education, health, and infrastructure, and diversify the economy.

Source: businessinsiderafrica
Via: norvanreports
Tags: Poverty CrisisPoverty Crisis: 75.5% of Rural Nigerians Struggling to Survive – World BankRural NigeriansWorld Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

President Mahama in Singapore to Court Investment and Deepen Bilateral Ties

GRA Says Cedi Rebound Cuts Government Revenues by 30%

Here’s Why Uber’s CEO Believes China is Winning the EV Race

Appiah Adomako Writes: Ghana Needs a Surgical Approach to Minimum Investment Capital Requirement

Serie A: Jonathan David Shines on Serie A Debut as Juventus Overcomes Parma

La Liga: Mbappe, Vini Jnr on Target as Real Madrid Beat Real Oviedo

Trending

Features

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

August 25, 2025

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still After years of a whirlwind, things...

ChatGPT Captures 48.36% of All AI Tool Traffic

August 25, 2025

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

August 25, 2025

President Mahama in Singapore to Court Investment and Deepen Bilateral Ties

August 25, 2025
A customer counts Ghana cedi banknotes at the Nima market in Accra, Ghana on Monday, March 11, 2024

GRA Says Cedi Rebound Cuts Government Revenues by 30%

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.