TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

World Bank ranks Nigeria third on world poverty index

The Citizen by The Citizen
April 11, 2014
in Global News, Headlines, Uncategorized
A A
0
22
SHARES
734
VIEWS
Share on FacebookShare on Twitter

The World Bank President, Jim Yong Kim, yesterday, at the ongoing IMF/World Bank Spring Meetings restated that Nigeria is one of the top five countries that has the largest number of poor. Nigeria, he said ranked third in the world while India ranked number one with 33 per cent of the world poor.

China is ranked second with 13 per cent of the world’s poor, followed by Nigeria where seven per cent of the world poor live in. He said that Bangladesh has six per cent share of the world’s poor while the Democratic Republic of Congo has five per cent of the world’s poor population.

Jim Yong Kim said these five countries are home to 760 million of the world’s poor, adding that another five countries, Indonesia, Pakistan, Tanzania, Ethiopia and Kenya would encompass almost 80 per cent of the extreme poor.

Noting that a sharp focus on these will be central to ending poverty, the world Bank President said “while economic growth remains vital for reducing poverty, growth has its limits, according to a new World Bank paper released today. Countries need to complement efforts to enhance growth with policies that allocate more resources to the extreme poor. These resources can be distributed through the growth process itself, by promoting more inclusive growth, or through government programs, such as conditional and direct cash transfers.

“It is imperative not just to lift people out of extreme poverty; it is also important to make sure that, in the long run, they do not get stuck just above the extreme poverty line due to a lack of opportunities that might impede progress toward better livelihoods. Economic growth has been vital for reducing extreme poverty and improving the lives of many poor people. Yet, even if all countries grow at the same rates as over the past 20 years, and if the income distribution remains unchanged, world poverty will only fall by 10 percent by 2030, from 17.7 percent in 2010. This is simply not enough, and we need a laser like focus on making growth more inclusive and targeting more programmes to assist the poor directly if we’re going to end extreme poverty.”

Kim added: “To end extreme poverty, the vast numbers of the poorest – those earning less than $1.25 a day – will have to decrease by 50 million people each year until 2030. This means that one million people each week will have to lift themselves out of poverty for the next 16 years. This will be extraordinarily difficult, but I believe we can do it. This can be the generation that ends extreme poverty.

“Growth alone is unlikely to end extreme poverty by 2030 because as extreme poverty declines, growth on its own tends to lift fewer people out of poverty. This is because, by this stage, many of the people still in extreme poverty live in situations where improving their lives is extremely difficult. Even if there is no change in inequality, the “poverty-reducing power” of economic growth is less in countries that are initially more unequal.”

Senior Vice President and Chief Economist at the World Bank, Kaushik Basu, said, “It is a sad commentary on our prosperous world that over one billion people live in extreme poverty. It is a welcome call from the World Bank Group to not just mitigate poverty but bring it to closure and also to strive for a more equitable world. To achieve these ends we will need determination, but also ideas and innovation, for the ways of the economy can be strange.”

He noted that the World Bank’s shared prosperity goal, endorsed by shareholders in 2013, provides a window into understanding inequalities of income and opportunities, stressing that while significant progress has been made in lifting people out of extreme poverty, many people remain poor, often due to lack of opportunity.

Tackling poverty requires understanding where the greatest number of poor live, while at the same time also concentrating on where hardship is most pervasive. This entails concerted efforts in countries where large numbers of the world’s 1.2 billion poor live.

 

Share9Tweet6
Previous Post

Jonathan lambasts Mugabe over corruption tirade …condemns South African hostility to Nigerians

Next Post

Insurgency: Northern governors are sponsoring terrorism, Sam-Tsokwa declares

Related Posts

Sexual Assault: EU expends over N1bn on referral centres across Nigeria
Global News

Sexual Assault: EU expends over N1bn on referral centres across Nigeria

November 29, 2023
Budgets in Nigeria have failed to meet expectations – House Speaker Abbas
Headlines

Budgets in Nigeria have failed to meet expectations – House Speaker Abbas

November 29, 2023
Kenyan lawmakers bans ‘Kaunda’ suits in parliament
Global News

Kenyan lawmakers bans ‘Kaunda’ suits in parliament

November 29, 2023
2024 Budget: FG targets 3.76% economic growth, N9.18tr deficit
Headlines

2024 Budget: FG targets 3.76% economic growth, N9.18tr deficit

November 29, 2023
Pres. Tinubu presents N27.5tr budget to National Assembly
Headlines

Pres. Tinubu presents N27.5tr budget to National Assembly

November 29, 2023
Supreme Court rules old, new naira notes to co-exist till further notice
Business

Supreme Court rules old, new naira notes to co-exist till further notice

November 29, 2023
Next Post

Insurgency: Northern governors are sponsoring terrorism, Sam-Tsokwa declares

House of Reps passes N4.6trn 2014 budget

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FROM THE GRASSROOTS

Rivers, Bayelsa oil communities lament neglect, failure to implement PIA

Rivers, Bayelsa oil communities lament neglect, failure to implement PIA

by Ezra Ikpeama
November 20, 2023
0

...

Imo community raises alarm over forceful acquisition of ancestral land

Imo community raises alarm over forceful acquisition of ancestral land

by Ezra Ikpeama
October 10, 2023
0

...

Army orders investigation into allegation of troops’ poor feeding

Army orders investigation into allegation of troops’ poor feeding

by Ezra Ikpeama
October 3, 2023
0

...

Ondo senator appoints 100 PAs, awards N300k to each constituent

Ondo senator appoints 100 PAs, awards N300k to each constituent

by Ezra Ikpeama
September 20, 2023
0

...

APPOINTMENTS

NNPCL denies plans to hike petrol price

Tinubu appoints NNPCL board members, management team

by Ezra Ikpeama
November 27, 2023
0

...

Ex-minister, Abba Moro emerges Senate Minority Leader

Ex-minister, Abba Moro emerges Senate Minority Leader

by Ezra Ikpeama
November 22, 2023
0

...

Tinubu appoints Isa as Aide on Disability Matters

Tinubu appoints Isa as Aide on Disability Matters

by Ezra Ikpeama
November 9, 2023
0

...

Kano Governor appoints female Head of Service

Kano Governor appoints female Head of Service

by Ezra Ikpeama
November 2, 2023
0

...

ODDITIES

Why more men commit suicide in Africa – Medical Advisor

Why more men commit suicide in Africa – Medical Advisor

by Ezra Ikpeama
November 29, 2023
0

OAU student lands in hospital after 58-hour wash-a-thon

OAU student lands in hospital after 58-hour wash-a-thon

by Ezra Ikpeama
November 27, 2023
0

Aggrieved customer attempts to set bank on fire in Ogun

Aggrieved customer attempts to set bank on fire in Ogun

by Ezra Ikpeama
October 25, 2023
0

State of the States

Gov. Mbah meets Tinubu, says Enugu open for business

Gov. Mbah meets Tinubu, says Enugu open for business

by Ezra Ikpeama
November 29, 2023
0

...

Gov. Diri presents N480.9bn 2024 budget to Bayelsa Assembly

Gov. Diri presents N480.9bn 2024 budget to Bayelsa Assembly

by Ezra Ikpeama
November 29, 2023
0

...

Gov. Radda presents N454bn budget for 2024

Gov. Radda presents N454bn budget for 2024

by Ezra Ikpeama
November 29, 2023
0

...

Lagos shuts church, seven hotels over noise pollution

Lagos shuts church, seven hotels over noise pollution

by Ezra Ikpeama
November 29, 2023
0

...

  • Trending
  • Comments
  • Latest
UK licenses 266 Nigerian doctors in two months

UK licenses 266 Nigerian doctors in two months

August 3, 2022
US govt reaches agreement with Niger junta, resumes drone aircraft, crewed aircraft operations

US govt reaches agreement with Niger junta, resumes drone aircraft, crewed aircraft operations

September 16, 2023
Coup: Russia warns ECOWAS, others against Niger intervention threats

Coup: Russia warns ECOWAS, others against Niger intervention threats

August 2, 2023
Leah Sharibu married off to ISWAP Commander after ‘divorcing’ first husband – Report

Leah Sharibu married off to ISWAP Commander after ‘divorcing’ first husband – Report

September 28, 2023

Air Peace begins operations, offers airfare to Armed Forces personnel

170

Diezani breaks silence, reveals side of story in 3-part exclusive interview

26

FG’s N4trn contractual debts under Jonathan – National Mirror

21

2015: Washington Post condemns Jonathan for campaign slogan

20
Gov. Mbah meets Tinubu, says Enugu open for business

Gov. Mbah meets Tinubu, says Enugu open for business

November 29, 2023
Sexual Assault: EU expends over N1bn on referral centres across Nigeria

Sexual Assault: EU expends over N1bn on referral centres across Nigeria

November 29, 2023
Protest rocks Kano over Appeal Court guber judgment

NNPC Ltd GCEO urges stakeholders, Nigerians to refrain from issuing goodwill messages

November 29, 2023
Budgets in Nigeria have failed to meet expectations – House Speaker Abbas

Budgets in Nigeria have failed to meet expectations – House Speaker Abbas

November 29, 2023

GLOBAL NEWS

Sexual Assault: EU expends over N1bn on referral centres across Nigeria

Sexual Assault: EU expends over N1bn on referral centres across Nigeria

by Ezra Ikpeama
November 29, 2023
0

...

Kenyan lawmakers bans ‘Kaunda’ suits in parliament

Kenyan lawmakers bans ‘Kaunda’ suits in parliament

by Ezra Ikpeama
November 29, 2023
0

...

Military breach: Sierra Leone reschedules flights for departing airlines

Military breach: Sierra Leone reschedules flights for departing airlines

by Ezra Ikpeama
November 27, 2023
0

...

Pope’s condition remains stable after illness, says Vatican

Pope’s condition remains stable after illness, says Vatican

by Ezra Ikpeama
November 27, 2023
0

...

EU, UN urge FG on adequate funding, safe havens for SGBV survivors

EU, UN urge FG on adequate funding, safe havens for SGBV survivors

by Ezra Ikpeama
November 25, 2023
0

...

EDITORIAL REVIEW

Super Eagles’ shaky World Cup start – Punch

Super Eagles’ shaky World Cup start – Punch

by Ezra Ikpeama
November 29, 2023
0

Insecurity: Police IG sets up panel to review firearms licensing, regulations

Egbetokun, deploy police officers properly – Punch

by Ezra Ikpeama
November 27, 2023
0

Chicago Varsity releases Tinubu’s records to Atiku

Poverty eradication: Steps Tinubu must take – Punch

by Ezra Ikpeama
November 20, 2023
0

Edun, Adeniyi should revamp NCS – Punch

Edun, Adeniyi should revamp NCS – Punch

by Ezra Ikpeama
November 17, 2023
0

Rising cases of diabetes – The Sun

Rising cases of diabetes – The Sun

by Ezra Ikpeama
November 16, 2023
0

Opinion

Navigating Africa’s Turbulent Waters: Resurgent coups and the shadowy world of PMCs

Navigating Africa’s Turbulent Waters: Resurgent coups and the shadowy world of PMCs

by Ezra Ikpeama
October 17, 2023
0

...

Setting the facts straight about Mr. Olanipekun Olukoyede & his eligibility for EFCC Chairmanship

Setting the facts straight about Mr. Olanipekun Olukoyede & his eligibility for EFCC Chairmanship

by Ezra Ikpeama
October 12, 2023
0

...

Fostering wealth transfer and economic growth

Fostering wealth transfer and economic growth

by Ezra Ikpeama
October 3, 2023
0

...

Teacher’s Day Celebration: Tackling fundamentals of national educational system

Teacher’s Day Celebration: Tackling fundamentals of national educational system

by Ezra Ikpeama
September 27, 2023
0

...

  • UK licenses 266 Nigerian doctors in two months

    UK licenses 266 Nigerian doctors in two months

    131 shares
    Share 52 Tweet 33
  • US govt reaches agreement with Niger junta, resumes drone aircraft, crewed aircraft operations

    89 shares
    Share 36 Tweet 22
  • Coup: Russia warns ECOWAS, others against Niger intervention threats

    76 shares
    Share 30 Tweet 19
  • Leah Sharibu married off to ISWAP Commander after ‘divorcing’ first husband – Report

    76 shares
    Share 30 Tweet 19
  • NCC sets record clear in alleged leakage of Obi-Oyedepo call

    68 shares
    Share 27 Tweet 17
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2022 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2022 TheCitizen Ng. All Rights Reserved.