Covid-19: World Bank Predicts Poverty Will Hit 100 Million Nigerians by 2022
The World Bank has predicted that Nigeria’s poverty level will continue to rise and that by 2022 about 100 million citizens will suffer poverty as a result of the impact of coronavirus pandemic.
The bank said that already, about 90 million Nigerians were currently suffering poverty due to the impact of coronavirus, adding that more 11million people will be affected by 2022.
The bank disclosed this as part of its update on Nigeria at a virtual event titled ‘Rising to the challenge: Nigeria’s COVID-19 response’.
The bank’s economist, Mr. Marco Hernandez, in the presentation said before the covid-19, two million Nigerians were expected to suffer poverty in 2020 due to increased population growth without economic growth.
Among the reasons for the poverty in the country, he said, was the issue of increased unemployment.
According to him, “With the COVID-19, the recession is likely to push an additional 6.6 million Nigerians into poverty in 2020, bringing the total newly poor to 8.6 million this year.
“This implies an increase in the total number of poor in Nigeria from about 90 million in 2020 to about 100 million in 2022. Northern states are more likely to be affected.”
The bank said that already, about 90 million Nigerians were currently suffering poverty due to the impact of coronavirus, adding that more 11million people will be affected by 2022.
The bank disclosed this as part of its update on Nigeria at a virtual event titled ‘Rising to the challenge: Nigeria’s COVID-19 response’.
The bank’s economist, Mr. Marco Hernandez, in the presentation said before the covid-19, two million Nigerians were expected to suffer poverty in 2020 due to increased population growth without economic growth.
Among the reasons for the poverty in the country, he said, was the issue of increased unemployment.
According to him, “With the COVID-19, the recession is likely to push an additional 6.6 million Nigerians into poverty in 2020, bringing the total newly poor to 8.6 million this year.
“This implies an increase in the total number of poor in Nigeria from about 90 million in 2020 to about 100 million in 2022. Northern states are more likely to be affected.”
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