82.9 Million Nigerians in Poverty -NBS

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The National Bureau of Statistics has published the 2019 report of Poverty & Inequality in Nigeria, which shows that 82.9 million Nigerians (40.09% of the total population) are living in poverty.

The report which was published on Monday further revealed that 52.10% of rural dwellers are living in poverty while the poverty rate in urban centres is 18.04%.

The last poverty data released by the NBS was in 2010 when 60.9% of the population was living in poverty.

At the time, the country’s total population was 112.4 million translating to 68.4 million people living in poverty.

The NBS, together with the World Bank, used the Nigerian living standards survey (NLSS) to measure poverty and living standards between September of 2018 and October of 2019.

The NLSS measured poverty using the consumption expenditure rather than income.

“The consumption aggregate is the monetary value of food and non-food goods and services consumed by the household,” the report read.

“Thus, the consumption aggregate has the following component: expenditure on food from all sources, schooling and education expenditure, healthcare expenditure, housing expenditure, non-food expenditure like clothing and recreation.”

Remarking on the report, an analyst who spoke to Today’s Echo anonymously, advised Nigerians to avoid being misled by the reduction in percentages between the 2010 and 2020 reports and focus on actual numbers which show that more Nigerians lack access to basic social amenities.

According to him, “when Buhari came in with his integrity campaign, he said there would be a period of sacrifice in order to correct the poor policies of the previous administration led by former President Goodluck Jonathan, after which the economy will blossom again but six years down the line, the situation is worse.

‘There is a need for urgent reforms, we need to come up with programmes that will reduce poverty in the land”, he added.

Recall that in June 2018, Brookings Institution said Nigeria has overtaken India as the poverty capital of the world.

The institution had estimated that the number of Nigerians in extreme poverty increases by six people every minute.

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