88 million Nigerians now live in extreme poverty

More than one million Nigerians slipped into extreme poverty in just four months.

TheCable reports that the number of Nigerians living in extreme poverty — or below $1.90 a day — has now reached 88 million upping from the86.9 million extremely poor people the Brookings Institution said were living in the country in June.

Nigeria then overtook India as the world poverty capital, despite being six times smaller in population than the Asian country.

According to the World Poverty Clock, created by Vienna-based World Data Lab, 88,011,759 Nigerians are currently living in extreme poverty.

According to the World Poverty Clock, “the outlook for poverty alleviation in Nigeria is currently weak,” with nearly six people slipping into extreme poverty every minute.

“Nevertheless, the overall effect will be muted; by 2030 we estimate the percentage of Nigeria’spopulation living in extreme poverty will increase from 44.2% to 45.5%, representing a total of some 120 million people living under $1.90 per day.”

Brookings had said earlier in the year that “extreme poverty in Nigeria is growing by six people every minute, while poverty in India continues to fall”.

“In fact, by the end of 2018 in Africa as a whole, there will probably be about 3.2 million more people living in extreme poverty than there are today.