Nigeria overtook India as the country with the highest number of families in extreme poverty. Because of its huge population, India stayed to be on the top spot for many years and struggle against the poor economic condition.
A recent report coming from the Brooking Institution said that Nigeria took the place of India as the world’s most populated country with people living in extreme poverty as its result. Earning less than $1.90 a day, people don’t earn enough to obtain even the basic needs like foods, clothes, and shelter.
Brooking’s Institution Director Homi Kharas of global economy and development program said, “It’s a good news story for India, coupled with some caveats, and it’s a real wake-up call for the African continent.”
The report made by Brookings was based on the World Poverty Clock that tracks the real-time progress against the poverty. Figures were shown last Monday that India has 70.6M people who are living in extreme poverty, while on the other hand, Nigeria has 87M. Based on the calculation of WPC, Nigeria poverty growth moves quicker by six people per minute while India drops 44 people per minute.
The gap between the two countries is becoming obvious as India is slowly falling, while Nigeria is going on the opposite side where the population is growing faster than its economy.
On the brighter side, Asia is improving. Asian nations like China, Vietnam, India, Indonesia are doing well so far based on the finding of Brookings Institution. This report gives cheer and hopes to all the mentioned countries as this means that the standard of living of the people is greatly improving and slowly becoming better.
