A new survey shows poverty, not #COVID19 is the biggest worry for Nigerians. Nigerians fear worsening poverty than rising coronavirus cases, according to a survey by Crosby Textor Group which also provided insights into the perceptions and behaviour of consumers and the future of retail in Nigeria.
The survey which was carried out in early July involving 1,000 respondents showed that the three important issues for Nigerians are Poverty (47 per cent), Economy (36 per cent), and the Covid-19 (36 per cent) ahead of National security, Terrorism and surprisingly, Jobs.
As at 2010, the National Bureau of Statistics said 60.9% of Nigerians were living in "absolute poverty" - this figure had risen from 54.7% in 2004.
The bureau predicted this rising trend was likely to continue.
Nigeria is Africa's biggest oil producer but the sector has been tainted by accusations of corruption.
According to the report, absolute poverty is measured by the number of people who can afford only the bare essentials of shelter, food and clothing.
However, poverty may have been overestimated due to the lack of information on the extremely huge informal sector of the economy, estimated at around 60% more, of the current GDP figures.
As of 2018, Population growth rate is higher than economic growth rate, leading to a slow rise in poverty. According to a 2018 report by the World Bank, almost half the population is living below the international poverty line ($2 per day), and unemployment peaked at 23.1%.
Poverty in Nigeria can also be caused by the political instability of the country. However, these programs have largely failed to overcome the three reasons for this persistent poverty: income inequality, ethnic conflict, and political instability.
This statistics of poverty keep increasing and the government need to pay more attention on how to eradicate poverty than putting all their efforts on tackling Covid-19.
Content created and supplied by: Kingniyong (via Opera News )