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

Resurgence of killings threatens Noth Central states, food production
Headlines

Armed herdsmen gun down Benue LG residents

June 14 2025
NiMet predicts three-day thunderstorms, rain from Saturday
Headlines

NiMet predicts three-day thunderstorms, rain from Saturday

June 14 2025
Israel, Iran launch new waves of missile attacks
Global News

Israel, Iran launch new waves of missile attacks

June 14 2025
Bomb threat forces India flight to make emergency landing
Global News

Bomb threat forces India flight to make emergency landing

June 13 2025
US govt justifies sending migrants to South Sudan
Global News

Judge orders Trump to return control of National Guard to California

June 13 2025
Tinubu cancels national broadcast, to address Nigerians from N’Assembly
Headlines

Knocks, kudos as Tinubu honours June 12 heroes

June 13 2025
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

CAN advises Miyetti Allah to tame violent members

Imo villagers decry armed herdsmen presence in farmlands

by The Editor
June 13 2025
0

...

Imo communities decry govt takeover of farmland

Imo communities decry govt takeover of farmland

by The Editor
May 29 2025
0

...

North-Central stakeholders demand return of APC National Chairman slot

Lagos APC aspirants protest over LG primaries

by The Editor
May 13 2025
0

...

Rivers LGs urge Ibas to tackle kidnapping, herdsmen attacks

Rivers LGs urge Ibas to tackle kidnapping, herdsmen attacks

by The Editor
May 8 2025
0

...

APPOINTMENTS

Benue governor appoints TuFace Idibia as adviser

Benue governor appoints TuFace Idibia as adviser

by The Editor
April 23 2025
0

...

Gov. Diri heads PDP convention zoning committee

Gov. Diri heads PDP convention zoning committee

by The Editor
April 15 2025
0

...

NNPCL welcomes Ojulari, bids Kyari farewell

NNPCL welcomes Ojulari, bids Kyari farewell

by The Editor
April 2 2025
0

...

Tinubu extends Immigration CG Nandap’s tenure till 2026

Tinubu extends Immigration CG Nandap’s tenure till 2026

by The Editor
March 31 2025
0

...

ODDITIES

Truck runs into Christmas procession in Gombe

Gombe perm sec, four others die from electrocution

by The Editor
June 14 2025
0

Ladies who wear leg chains are prostitutes, says Pastor Ibiyeomie

Ladies who wear leg chains are prostitutes, says Pastor Ibiyeomie

by The Editor
May 27 2025
0

Probe begins as Plateau market fire guts 107 shops

Father sets wife, children ablaze over alleged infidelity, daughter dies

by The Editor
May 20 2025
0

GLOBAL NEWS

Israel, Iran launch new waves of missile attacks

Israel, Iran launch new waves of missile attacks

by The Editor
June 14 2025
0

...

Bomb threat forces India flight to make emergency landing

Bomb threat forces India flight to make emergency landing

by The Editor
June 13 2025
0

...

US govt justifies sending migrants to South Sudan

Judge orders Trump to return control of National Guard to California

by The Editor
June 13 2025
0

...

Equatorial Guinea warns against US travel after Trump ban

Equatorial Guinea warns against US travel after Trump ban

by The Editor
June 11 2025
0

...

Ghana bans use of honorary doctorate, professorship titles in public

Ghana bans use of honorary doctorate, professorship titles in public

by The Editor
June 10 2025
0

...

State of the States

Enugu governor promises to immortalise music icon, Mike Ejeagha

Enugu governor promises to immortalise music icon, Mike Ejeagha

by The Editor
June 7 2025
0

...

Kano: Supreme Court reserves judgement on appeal against Gov. Yusuf’s sack

Gov. Yusuf declares Monday public holiday to mourn Kano athletes

by The Editor
June 1 2025
0

...

Ondo governor approves employment of 1,100 primary school teachers

Gov. Aiyedatiwa approves upgrade of 102 Ondo health centres

by The Editor
May 27 2025
0

...

Lagos to introduce monthly rent payment system

Lagos to introduce monthly rent payment system

by The Editor
May 15 2025
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Oshiomhole: Appeal Court reinstates sacked appointees

Lagos Airport Drama: Oshiomhole unruly, attitude unacceptable — Airline operators

June 14 2025
FG engages Chinese firms to revive Ajaokuta Steel

FG engages Chinese firms to revive Ajaokuta Steel

June 14 2025
Reps reject inheritance tax, exempt military personnel salaries, retain VAT at 7.5%

Reps summon Edun, Cardoso over audit infractions, Fiscal Act breach

June 14 2025
Truck runs into Christmas procession in Gombe

Gombe perm sec, four others die from electrocution

June 14 2025

EDITORIAL REVIEW

Nigeria’s manufacturing: A call for revamp – Punch

Nigeria’s manufacturing: A call for revamp – Punch

by The Editor
June 11 2025
0

Protecting children from online predators – Punch

Protecting children from online predators – Punch

by The Editor
June 8 2025
0

Insecurity: Enough is enough – Tinubu tells NSA, Security Chiefs

Tinubu chants tiresome borrowing tune – Punch

by The Editor
June 1 2025
0

Auctioning Emefiele’s duplexes – Punch

Auctioning Emefiele’s duplexes – Punch

by The Editor
May 27 2025
0

Corruption-ridden constituency projects – Punch

Corruption-ridden constituency projects – Punch

by The Editor
May 26 2025
0

Opinion

Tinubu cancels national broadcast, to address Nigerians from N’Assembly

Tinubu, The Audacity To Hope: Two years after

by The Editor
June 12 2025
0

...

Supreme Court affirms Mbah as Enugu State Governor

2027: Mbah, PDP and newfound political romance in Enugu

by The Editor
May 17 2025
0

...

Nigeria should emulate India’s blueprint for development

Nigeria should emulate India’s blueprint for development

by The Editor
April 21 2025
0

...

Much ado about immortalising Humphrey Nwosu

Much ado about immortalising Humphrey Nwosu

by The Editor
March 31 2025
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.

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

© 2024 TheCitizen Ng. All Rights Reserved.