South Sudan is the poorest country in Africa with a per capita income of $1,503 per year. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Also the report states that in recent years, there has been a growing sense that the economic recovery is shallow, and has not reached all layers of society. “Despite the fact that Nigeria is a signatory to a number of protocols on sustainable and renewable environment, the country had, over the decades, failed to protect the environment, ecosystem and natural resources. The Vice President, Yemi Osinbajo, and Speaker of the House of Representatives, Femi Gbajabiamila were also in attendance. These states are meant to be productive based on their available natural resources, and are meant to have a strong and honest government capable of managing these natural resources to generate its … The situation is exacerbated by the existence of systematic accountability challenges, limited capacities of independent institutions/ commissions and limited accountability at the federal, states and local government levels. Severe climatic conditions Somalia is also one of the most corrupt countries in the world. To learn more about cookies, click here. This site uses cookies to optimize functionality and give you the best possible experience. The situation has not changed over the decades, but is increasing. Nigeria has been ranked the third nation with the poorest people in the world according to an annual global wealth report compiled by the Swiss bank, Credit Suisse. The World Bank Group works in every major area of development. The Police averred that the evidence fabricated against the complainant, who is a respected member of the Nigerian Institute of Architects (NIA), was wilfully and intentionally executed with the sole aim to bring the component of his profession to shame. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Nigeria will be the ‘’poorest country in the world’’ by 2037 as global poverty shifts exclusively to Africa amidst decreasing poverty levels in Asia, Latin America and other parts of the world, says former chief economist at Goldman But there are some in Asia and even in the Americas. There has been severe political unrest in recent years, as calls for President Joseph Kabila, who took power after the assassination of his father in 2001, reached a fever pitch in 2018. More than 40% of the population is living below the poverty line. About 80% of the Togolese that lives outside the … The economy of Central African Republic is largely dependent on the export of diamonds, which brings in between 40-55% of the country's export revenues. The smallest budget per capita exists in Afghanistan. Gross national income, or GNI, represents the sum total of money earned by a nation’s people and businesses within a given year. Head of delegation of the European Commission to Nigeria, Leonidas Tezapsidis, says Nigeria is ranked the third country with the highest number of poor people in the world. All poor economies are in tatters because of various natural and human-made issues such as: 1. Low literacy is another reason, only 63,7% can read and write. I think know, the poorer countries are those that are recently emerging from civil war e.g. Rampant corruption and dictatorial regimes 3. The implication of destruction of the environment includes reduced agricultural productivity, destruction of property and loss of lives. There are several reasons for the poverty in Togo, but a few that stands out is the high amount of orphans, where the parents have died in AIDS. ‎. Somalia is the semblance of an emerging country. The Nigeria has overtaken India as the country with the largest number of people living in extreme poverty, with an estimated 87 million Nigerians, or around half of the country… “For decades, different segments of Nigeria’s population had, at different times, expressed feelings of marginalization, of being short-changed, dominated, oppressed, threatened, or even targeted for elimination.”, FG warns of possible resort to chemical, biological agents by terrorists. Operatives of the Nigeria Police have filed criminal charges against a lawyer, James Idih and Otomiewo Ufuoma before the Magistrate Court in Abuja for fabricating false evidence against Architect Adamu Stephen Okunade. “This in turn leads to unpredictable weather, drought and floods. After remaining on top for decades, India has been displaced by Nigeria […] The police further revealed in the charge that the offences contravene section 158(2) of the penal code. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Although Nigeria is one of the poorest countries in the world, it is the largest producer of uranium . Available reports indicate that there are over 3.3 million Internally Displaced Persons, IDPs, which is Africa’s largest, ranking behind Syria and Columbia on a global scale. But Nigeria has one of the highest rates of forest loss in the world. About half of Yemenis aged from 18 to 24 are not able to find work. [1] Following the oil price collapse in 2014–2016, combined with negative production shocks, the gross domestic product (GDP) growth rate dropped to 2.7% in 2015. “Over 80 million Nigerians live in poverty and are affected in one way or the other by the current humanitarian crisis. The World Bank provided technical support to the NBS throughout the entire survey implementation, introducing several methodological improvements that led to the availability of reliable data for the poverty estimates. ‘’The defendant without knowledge of the said Gideon Ajogi and Moses Isha, however, converted the respective statements signed in his chamber to witness statement on oath to support a fictitious petition dated Feb 27, 2018 to the secretary-general of the Nigerian Institute of Architects (NIA), against the complainant. “The vulnerable macroeconomic environment in Nigeria is affecting investors’ confidence in the domestic economy. Average income around the world The worldwide highest income is earned in Monaco. Nigeria-Nigeria, an African country on the Gulf of Guinea, has many natural landmarks and wildlife reserves. This was as the report revealed that the country was deeply divided on the basis of plurality of ethnic, religious and regional identities. According to the World Bank, the country has made some major improvements in reducing poverty but things are still very unequal between the haves and the have nots. The National Bureau of Statistics (NBS) recently released the “2019 Poverty and Inequality in Nigeria” report, which highlights that 40 percent of the total population, or almost 83 million people, live below the country’s poverty line of 137,430 naira ($381.75) per year. rwanda, somalia, sierra leone etc...their infrastructures is very impaired as a result of the war. Poverty and hunger have remained high in rural areas, remote communities and among female –headed households and these cut across the six geo-political zones, with prevalence ranging from approximately 46.9 percent in the South West to 74.3 percent in North West and North East. Since independence in 1960, Nigeria has struggled to build and sustain national integration. “Nigeria is a deeply divided society considering the plurality of ethnic, religious and regional identities that define her political existence. 2017 GDP per Capita: USD 4392019 GDP per Capita (projected): USD 4752023 GDP per Capita (projected): USD 551Although the DRC has abundant natural resources, unfortunately with a projected 2019 GDP per capita of USD 475, the country is in the unenviably position of being the poorest country in the world. In our comparison over 79 countries, the USA comes 9th with an average income of 65,850 Things like welfare, education, access to water and sanitation, and health services have improved, but access is very unequal. Exploitative colonization 5. In 2015, 55.1% of its inhabitants lived below the poverty line “The major challenges Nigeria is currently facing that constrain her economic growth and social development are lack of good governance, general increased insecurity across geo-political zones in North East, Niger Delta and Lake Chad region in particular. Nigeria News 2018: Is Nigeria Truly the Poorest Country in The World? ‘’The alleged deponents to the statements on oath dated 26/02/2018 in support of the petition have by separate affidavits dated 14/01/2020 and 03/03/2020 before the Commissioner for Oath of the Federal Capital High Court denounced knowledge to their alleged statements on oath in support of the fictitious Petition’’. Which is the World’s Poorest Country? Omisore Speaks | Legit TVSubscribe to Legit TV for more political and celebrity news! Only a few people are living above it. It also has some of the world's least developed infrastructure. The poorest countries in the world might not be as obvious as you may have assumed. Meanwhile, no date has been fixed for the hearing of the suit. “Nigeria is well-endowed with forest resources, accounting for 2.5% of GDP. Hotel Martha is the most expensive hotel in Burundi - the poorest country in the world. The NBS report is based on data from the latest round of the Nigerian Living Standards Survey, conducted in 2018-2019 with support from the World Bank’s Poverty Global Practice and technical assistance from the LSMS program. According to the charge sheet with charge no: CR/442/2020, the suspects were alleged to have tricked one Moses Isha and Gideon Ajogi into signing witness statements on behalf of the defendants to defend a suit against the complainant. Okunade. Nigeria came third among the poorest countries in the world with 35 million Nigerians classified among the poorest people in the world while India tops the list with 246 million people. Global data and statistics, research and publications, and topics in poverty and development, Environmental and Social Policies for Projects. Norway The GDP of Norway ranks as the second-largest in the world. Between September of 2018 and October of 2019, the National Bureau of Statistics conducted the latest round of the NLSS, a decade after the previous one. The second poorest country in the world is Mozambique with a forecasted GDP per capita of USD 502 for 2019. Over 10 million children of school age are out of schools with no knowledge and skills. Most of its financials are derived from the funding from external sources. “Youth unemployment which is 42% in 2016 is very high, creating poverty, helplessness, despair and easy target for crime and terrorism. Yemen - GDP per capita - $925.62 Yemen is the poorest country of the Arabian Peninsula. The extraction of uranium and its processing are joint ventures, a large proportion of the capital belongs to foreign companies. 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