Tag: Poverty

Three Men In Nigeria Richer Than 83m Citizens – Oxfam

18Jan

By Mary UgwuanyiNo Comments

Finance, News, Nigeria

Three Men In Nigeria Richer Than 83m Citizens – Oxfam

The latest report released by an international confederation against poverty, Oxfam, has shown that the three most rich men in Nigeria have more wealth than 83 million citizens. The global inequality report was released at the start of the annual World Economic Forum, WEF, meeting in Davos, Switzerland, on Monday. According to the report titled, ‘survival of the richest’, Oxfam said the wealth of billionaires in Nigeria has grown by a third since the start of COVID-19 pandemic without a corresponding increase in health budgets. It also stated that the richest 0.003 percent of Nigerians (6,355 individuals worth $5 million and above) have 1.4 times more wealth than 107 million of the country’s citizens. Oxfam said a wealth tax of 2 percent on the millionaires, 3 perce...

<strong>How State Governors Contribute To Increased Poverty Rate – FG</strong>

1Dec

By Mary UgwuanyiNo Comments

Finance, News, Nigeria

How State Governors Contribute To Increased Poverty Rate – FG

The Federal Government has accused state governors of being responsible for the increased poverty in Nigeria. The Minister of State for budget and national planning, Clem Agba, blamed the state governors for prioritizing flyovers and airports to improving the living conditions in rural areas. Agba stated this while interacting with state house correspondents after a meeting of the Federal Executive Council, FEC, presided over by President Muhammadu Buhari. According to the minister, about 72 percent of the country’s poor citizens reside in the rural areas which have been overlooked by the governors. He said the governors focus more on state capitals rather than constructing roads that will help farmers to transport their farm produce from rural areas to urban areas. The min...

Poor Nigerians Expected to Reach 100 Million By 2022 – World Bank

11Dec

By Obiajulu Joel NwoluNo Comments

Economy, Finance, News, Nigeria

Poor Nigerians Expected to Reach 100 Million By 2022 – World Bank

The World Bank has estimated that the number of poor Nigerians would rise from the current 90 million to about 100 million by 2022 due to the economic impact of the COVID-19 pandemic. The bank projects that about 11 million more Nigerians would plunge into poverty by 2022 due to the COVID-19 crisis. It equally pegged the financial portfolio approved by its board for Nigeria at about $11.5bn. This was disclosed during the bank’s Nigeria Development Update virtual event, themed, 'Rising to the challenge: Nigeria's COVID-19 response'. According to Punch, an economist with the bank, Marco Hernandez, during his presentation said that before the COVID-19 pandemic, about two million Nigerians were expected to fall into poverty in 2020 as population growth outpaced economic growth. ...

Nigeria: Osinbajo is a Liar – Reno Omokri

25Jun

By admin1 Comment

Economy, News, Nigeria

Nigeria: Osinbajo is a Liar – Reno Omokri

Former assistant former President Goodluck Jonathan, Reno Omokri has taken to his Twitter account to call out Vice President Yemi Osinbajo, calling him an outright liar. In a series of tweets, Reno noted that Nigeria was worse off under the Buhari-Osinbajo administration. He wrote: "@ProfOsinbajo claimed in USA that @GeJonathan did nothing for the poor and under GEJ we had 112.7 million extremely poor people. Yet, according to the @UN, Nigeria's extremely poor population INCREASED to its highest ever level on June 26, 2018 to "87 million". "The #WorldPovertyClock established that Nigeria had 61 million extremely poor people in 2010. But @ProfOsinbajo lied yesterday in USA that there were 112.7 million extremely poor people in 2010 and he and @MBuhari are reducing the number. And h...