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88.4M Nigerians experience extreme poverty

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By Mercy Kelani

Approximately 44.7M men in the nation are confined to a life of deprivation.

In Nigeria, an alarming number of individuals, precisely 88.4 million, are currently grappling with the harsh reality of extreme poverty, as conveyed by Mr. Temitope Fadeshemi, the Permanent Secretary of the Federal Ministry of Agriculture and Food Security. On February 7, 2024, in the city of Kaduna, Fadeshemi unveiled an exciting announcement. The revelation emerged during an event where 250 smallholder farmers were being provided with essential farm inputs. Bashir Abdulkadir, Director of the Department of Extension Services at the ministry, conveyed the message on behalf of the permanent secretary.

He stated that the farmers were beneficiaries of the National Poverty Reduction with Growth Strategy (NPRGS), as evidenced by the generous actions taken towards them. His words were filled with concern as he voiced his observation, stating that the distressing situation of poverty in Nigeria has reached alarming levels. It is estimated that a staggering 88.4 million individuals in this country are enduring the hardships of extreme poverty. Approximately 44.7 million men in the nation are confined to a life of deprivation.

FG improves the livelihoods of small-scale farmers.

These Nigerian men barely surviving on less than $1.90 U.S. per day. In contrast, the number of women facing this abysmal reality stands at 43.7 million. In relation to poverty, the proportion of Nigeria’s population living in extreme poverty by 2022 is a staggering 12.9 percent, as indicated by the speaker. He stated that the occurrence symbolized a major turning point in the joint dedication of the Federal Government towards improving the livelihoods of small-scale farmers and encouraging sustainable methods in agriculture.

With great pleasure, he expressed that he is thrilled to bring to Nigerians’ attention that NPRGS, working hand in hand with the Federal Department of Agricultural Extension Service (FDAE), has conscientiously identified and confirmed around 250 farmers who will be actively engaging in this ground-breaking initiative. Without these farmers, the agricultural sector of the country would crumble, leaving the nation’s prosperity in shambles. Their indispensable contributions echo through the veins of the country’s success, shaping the very essence of Nigerians’ well-being.

Equipping small-scale farmers with the necessary expertise.

The NPRGS demonstrates the unwavering commitment of the Nigerian government to combat poverty by tackling its underlying causes, with a primary focus on the crucial contribution of agriculture towards fostering economic progress and advancement. By implementing training and empowerment initiatives like the one held recently, the country is planting the foundation for a constructive transformation. The aim is to equip small-scale farmers with the necessary expertise, means, and assistance, enabling them to flourish amidst an ever-changing agricultural environment.

Despite Nigeria’s abundant wealth, large population, flourishing economy, and rich reserves of resources like oil, the unacceptable levels of poverty continue to persist in this nation. Nonetheless, it is possible that the extent of poverty has been inaccurately assessed owing to the lack of data on the tremendously vast informal sector of the economy, which is estimated to contribute approximately 60% more to the current GDP figures. In 2018, the disparity between population growth and economic growth resulted in an incremental increase in poverty. Research from the World Bank revealed that almost half of the population, roughly encompassing 2 billion people, were struggling to survive on less than $2 per day. Additionally, the unemployment rate surged to its peak at 23.1%.

Related Article: FG Aims to Reduce Poverty, Unemployment Rate

Nigeria does not have an officially designated poverty line, but in order to assess poverty, the average per capita household is taken into consideration. Consequently, two poverty lines are utilized to categorize individuals based on their financial status. The higher poverty line stands at ₦395.41 per person per year, equating to two-thirds of the mean consumption value. Meanwhile, the lower poverty line rests at ₦197. Each person spends an average of 71 units per year, which accounts for one-third of the average consumption. Individuals falling below the lower poverty line are classified as extremely impoverished, while those below the upper poverty line are considered moderately poor. According to this definition, the poverty line is set below the minimum wage earned by labour workers in the year 1985.


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Ask Nigeria
Member
20 days ago

88.4M Nigerians experience extreme poverty.Approximately 44.7M men in the nation are confined to a life of deprivation.Express your point of view.

SarahDiv
Member
20 days ago

Addressing extreme poverty is vital for our nation’s well-being. Initiatives like NPRGS show promise, but we need sustained efforts and collaborative strategies to uplift millions. Together, we can build a more inclusive and prosperous Nigeria.

Taiwo
Member
19 days ago

In terrible poverty, 88.4 million Nigerians live. A life of deprivation is imposed upon some 44.7 million males nationwide. It would take all-encompassing measures that go beyond present initiatives to address extreme poverty in Nigeria. Inclusive economic growth and long-term impact require an extensive plan

Kazeem1
Member
19 days ago

The depressing state of poverty in Nigeria has reached alarming levels, with an alarming number of people—exactly 88.4 million—currently battling the brutal realities of extreme poverty.Individuals in this nation are suffering from severe poverty.our government should not be looking us like dis we suffer from hunger

Adeoye Adegoke
Member
19 days ago

That’s a heartbreaking statistic. It’s truly disheartening to hear that 88.4 million Nigerians are experiencing extreme poverty. And to think that approximately 44.7 million men in the nation are living in deprivation is just staggering. It’s clear that urgent action is needed to address this issue and alleviate the suffering of so many people. The government, along with various organizations and individuals, should come together to implement effective strategies that promote economic growth, create job opportunities, and provide support for vulnerable populations. It’s essential to prioritize the well-being of all Nigerians and work towards a more equitable and prosperous society.