Fin24

Most Nigerians live in poverty

2012-02-13 11:49

Abuja - Despite strong growth in Nigeria, Africa’s second largest economy, the level of absolute poverty rose to 60.9% of the population in 2010 from 54.7% in 2004, the national bureau of statistics (NBS) said on Monday.

Absolute poverty is measured by the number of people who can afford only the bare essentials of shelter, food and clothing. Almost 100 million people in Nigeria were living on less than $1 a day in 2010, 61.2% of the population, compared with 51.6% in 2004.

Poverty is likely to worsen this year as wealth inequality continues to widen, NBS said.