• 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

3 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

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

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

CAF Establishes New Infrastructure Department to Enhance Stadium Development Across Africa

Bibiani Gold Stars Set to Begin GPL Title Defence Against Bechem United as Fixtures for 2025/26 Season Are Released

Gov’t Increases Producer Price of Cocoa to GHS 51,660 per Tonne for 2025/2026 Season

Value of Mobile Money Transactions Hit GHS 323.2bn in June

Alex Mould Questions BoG’s 25% Policy Rate Amid Ample Market Liquidity and Falling Inflation

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

Trending

Features

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

August 4, 2025

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana The Criminal Investigations Department (CID) of the Ghana...

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

August 4, 2025

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

August 4, 2025

CAF Establishes New Infrastructure Department to Enhance Stadium Development Across Africa

August 4, 2025

Bibiani Gold Stars Set to Begin GPL Title Defence Against Bechem United as Fixtures for 2025/26 Season Are Released

August 4, 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.