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Over 82 million Nigerians are poor, northern states dominate list

The number of Nigerians that are poor have been estimated to be 82.9 million people, this is revealed in the latest Poverty and Inequality report released by the national Bureau of Statistics (@nigerianstat)

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Over 82 million Nigerians are poor, northern states dominate list

The number of Nigerians that are poor have been estimated to be 82.9 million, this is revealed in the latest Poverty and Inequality report released by the National Bureau of Statistics.

According to the Nigerian Living Standards Survey (NLSS) report released by the NBS covering the year 2019, 40.1% of Nigerians are classified as poor by national standards.

READ ALSO: IGR: States generate N986.2 billion in 9-month, up by 16.8% 

Northern states rank poorest

Further details provided in the nation-wide survey report show that Northern states in Nigeria rank poorest.
According to the report, 9 of top 10 poorest states in Nigeria ere from the norther region with Sokoto, Taraba and Jigawa being the poorest.

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The summary report also shows that 52.1% of rural dwellers in Nigeria are poor, while only 18.04% of urban dwellers are classified as poor. According to NBS, on average, 4 out of 10 individuals in Nigeria has real per capita expenditures below N137,430 per year, which translates to N376.5 per day.

READ MORE: Nigeria generates N876.09 billion VAT in 9-month, as revenue shortfall poses threat 

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About the Survey

The Nigerian Living Standards Survey (NLSS) is the official survey that is the basis for measuring poverty and living standards. Between September of 2018 and October of 2019, the National Bureau of Statistics conducted the latest round of the NLSS after a decade.

READ MORE: PwC survey identifies key priorities of Nigerian businesses amid Covid-19 pandemic

It is representative at the state level with a sample size of 22,110 households, focusing on increasing household and individual demographics (age, gender, marital status, among others), access to education, health and basic services, employment, assets, and income. The survey is used to measure prevalence of poverty and to estimate a wide range of socio-economic indicators including bench-marking of the Sustainable Development Goals.

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Samuel is an Analyst with over 5 years experience. Connect with him via his twitter handle

5 Comments

5 Comments

  1. Oladele Aderibigbe Isaiah

    May 4, 2020 at 11:30 am

    What are there leaders is doing with all benefit that goes to northern
    Talk about international support to Nigeria or nigerial federal government the highest % goes to there side.
    Let ask there leader

  2. Solomon

    May 5, 2020 at 2:46 pm

    If this report is true, then the elites in the North have questions to answer. They deliberately put their people in poverty, using Islam as a cover-up at the expense of formal education which could liberate them, so that they(the elites) can continue to enslave them.
    An average child of the Northern elite are not only educated but also schooled or schools abroad while they tell the world that it’s their culture or religion for other children to practice almajiri. God is watching.

  3. Dr Rapuruchi Onuorah

    May 5, 2020 at 8:13 pm

    This your findings are highly inconsistent, so Enugu state is now at the border line?

  4. Tela Ernest

    May 19, 2020 at 10:50 pm

    After all this pot belly politicians will come be telling us stories 😫😫😫😫😫

  5. Folarin Taiwo

    September 25, 2020 at 4:23 pm

    Thank you for this information. Please, where is Borno state? This can also affect the naratives.

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Hospitality & Travel

US imposes $15,000 visa bond on 15 African countries, others

The US has issued a visa rule requiring tourist and business travelers in some countries to pay a bond of up to $15,000 in addition to the visa fees.

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Berger Paints' improved margins ride on the back of cost efficiency

The outgoing administration of US President, Donald Trump, on Monday, November 23, 2020, issued a new temporary visa rule that requires tourist and business travelers from 15 African countries and others to pay a bond of up to $15,000 in addition to the visa fees, which ranges from $16 to $300, in order to visit the United States.

According to TheCable, the US State Department said the visa bond pilot programme, expected to take effect from December 24 and end on June 24, 2021, is targeted at countries whose citizens have higher rates of overstaying B-2 visas for tourists and B-1 visas for business travelers.

The Trump administration said the six-month pilot program aims to test the feasibility of collecting such bonds and will serve as a diplomatic deterrence to overstaying the visas. Hence, overstay places significant pressure on Department of Justice and Department of Homeland Security.

The visa bond rule will permit U.S. consular officers to request tourist and business travelers from countries whose nationals had an overstay rate of 10% and above in 2019 to pay a refundable bond of $5,000, $10,000, or $15,000.

The countries whose tourist and business travelers fall into this category and subjected to the bond requirements are 24 countries, including 15 African countries. While these nations had higher rates of overstays, they sent relatively fewer travelers to the United States.

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The countries include Afghanistan, Angola, Bhutan, Burkina Faso, Burma, Burundi, Cape Verde, Chad, the Democratic Republic of the Congo (Kinshasa), Djibouti, Eritrea, the Gambia, Guinea-Bissau, Iran, Laos, Liberia, Libya, Mauritania, Papua New Guinea, Sao Tome and Principe, Sudan, Syria, and Yemen,

Nigerian travelers escaped paying the temporary visa rule, as their overall score was below the threshold of 10% and above overstaying rate.

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Economy & Politics

Senate approves issuance of N148bn promissory notes to Bayelsa, 4 others

Promissory notes worth N148,141,969,161.24 has been approved by the Senate as refund to Bayelsa, Cross River, Ondo, Osun and Rivers States

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Senate approves issuance of promissory notes worth N148 billion as a refund to five states

Promissory notes worth N148.141billion have been approved by the Senate as a refund to Bayelsa, Cross River, Ondo, Osun, and Rivers States for projects executed on behalf of the Federal Government.

The approval which was given by the Senate at the plenary on Tuesday, 24th November 2020, came after the presentation of a report by the Committee on Local and Foreign Debts, led by Senator Ordia Clifford (PDP-Edo).

According to a news report by NAN, this is a go-ahead to the Federal Government, who had sought the approval of the Senate for issuance of promissory notes for a refund on federal projects executed by State governments.

The request was contained in a letter addressed to President of Senate, Dr. Ahmad Lawan by President Muhammadu Buhari, and read at plenary. The Senate referred the matter to the Committee on Local and Foreign Debts for further legislative input.

(READ MORE: FG inaugurates steering committee on Covid-19 economic recovery)

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Senator Ordia Clifford, while presenting the report of the committee, said the Permanent Secretary, Federal Ministry of Finance; Federal Commissioners of Finance and Works in the five states, had briefed the committee on details of the projects.

He said the Committee was presented with documents relating to the approvals of the Federal Government through the Federal Ministry of Works and Housing for the execution of the projects and certificates of completion, amongst other documents.

At the plenary today, Senator Ordia moved the motion that the Senate approves the Committee’s recommendations by approving the issuance of the promissory notes to the State governments.

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According to him, the amount due to the five states is N148.14billion.

  • Bayelsa was allotted N38.40billion
  • Cross River was allotted N18.39billion
  • Ondo was allotted N7.82billion
  • Osun was allotted N4.57billion
  • Rivers was allotted N78.95billion

What they are saying

The President of the Senate, Ahmad Lawan, disclosed that records showed PDP states had the highest refund, he said: “If you look at the list of states, only two are APC states and they have the least in terms of refund, this is fantastic and a mark of leadership by the Federal Government. This shows tolerance and leadership by this administration.”

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Business News

Interswitch Group becomes Finastra’s lead technology partner in Nigeria

nterswitch Group has unveiled a consolidated partnership with Finastra, one of the world’s most influential Fintechs.

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Interswitch Group becomes Finastra’s Lead technology partner in Nigeria

In a bid to further develop its market and expand, Interswitch Group has unveiled a consolidated partnership with Finastra, one of the world’s most influential Fintechs.

This is according to a verified post by Interswitch Group on Linkedin, as seen by Nairametrics.

What this means

The strategic partnership enables Interswitch to become Finastra’s lead technology partner and will avail the latter the opportunity to bring the broadest set of financial software solutions to financial institutions in Nigeria and across Africa, in conjunction with Interswitch’s strong understanding of the local banking and payments landscape, as well as the ability to deploy solutions across these markets.

Some of Finastra’s financial software solutions that will be incorporated into Interswitch’s digital solution include: Fusion Kondor and Fusion Trade Innovation, which will consolidate Interswitch’s position as a hub for financial solutions, including treasury and trade solutions.

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(READ MORE: 5 Nigerian startups selected to join 7 others at the Africa Tech Summit Connects (ATS))

What they are saying

Commenting on the partnership, the Founder and Group Chief Executive Officer of Interswitch, Mitchell Elegbe, was quoted by Tech economy saying:Our partnership with Finastra is consistent with our strategic growth plan and we both share the vision of deepening access to financial services by providing world-class technology and innovative solutions.

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“The partnership enables Finastra to seamlessly deploy its technology in this market. For Interswitch, we will be leveraging our proven success and expertise in delivering transaction banking solutions to support Finastra in localizing and implementing their technology in this region.’’

On the other hand, the Head of Partner Ecosystem MEA & CIS at Finastra, Hamid Nirouzad, said: “Interswitch has a proven track record of delivering solutions to commercial banks, as well as, a strong understanding of the local banking landscape across Nigeria and sub-Saharan Africa.

“Finastra is committed to providing its solutions to financial institutions across the world, and partnerships such as this will result in successful projects, with rapid delivery at a reasonable cost.”

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