Half of Nigeria’s population will be poor by 2022 — World Bank
The World Bank on Thursday projected that the number of poor Nigerians will increase from the current 90 million to about 100 million by 2022 due to the impact of the COVID-19 pandemic on the country’s economy.
It stated that by 2022, about 11 million more Nigerians were expected to fall into poverty due to the COVID-19 crisis.
The World Bank also put the financing portfolio approved by its board for Nigeria at about $11.5bn.
The bank disclosed this during its Nigeria Development Update virtual event, which had the theme ‘Rising to the challenge: Nigeria’s COVID-19 response’.
In his presentation at the event, an economist with the bank, Marco Hernandez, said there would an increase in the total number of poor in Nigeria from about 90 million in 2020 to about 100 million in 2022. Northern states are more likely to be affected.”
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