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Coronavirus

COVID-19: 115 million people are likely to fall into extreme poverty in 2020 – World Bank Group

Between 88 million and 115 million people are likely to fall back into extreme poverty as a result of the COVID-19 pandemic in 2020.

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World Bank accuses AfDB, Asian bank, others of worsening Nigeria’s debt problem , World Bank deploys $150 billion to save the world from global meltdown

The recently released Poverty and Shared Prosperity Report 2020 by the World Bank Group indicates that between 88 million and 115 million people could fall back into extreme poverty as a result of the COVID-19 pandemic.

This is in addition to an increase of between 23 million and 35 million in 2021, potentially bringing the total number of new people living in extreme poverty to between 110 million and 150 million.

According to the report

  • Pandemic-related job losses and deprivation worldwide are hitting already-poor and vulnerable people hard, while also partly changing the profile of global poverty by creating millions of ‘new poor’.
  • Original analysis included in the report shows that the new poor are more urban, better educated, and less likely to work in agriculture than those living in extreme poverty before COVID-19.
  • These results are important for targeting policies to safeguard lives and livelihoods. The report discusses early evidence that the pandemic is deepening income inequality, threatening inclusive economic recovery and future growth. It shows how some countries are deploying agile, adaptive policies to reverse the crisis, protect the most vulnerable, and promote a resilient recovery.
  • COVID-19 is expected to push some 100 million people into extreme poverty in 2020 alone. Armed conflict is also driving an increase in poverty in some countries and regions. In the Middle East and North Africa, for example, extreme poverty rates nearly doubled between 2015 and 2018, from 3.8 percent to 7.2 percent, spurred by the conflicts in the Syrian Arab Republic and the Republic of Yemen.
  • Up to 132 million people may fall into poverty by 2030 due to the manifold effects of climate change. Although the worst economic and welfare effects lie further in the future. In some settings, poverty is already intertwined with vulnerability to climate-related threats such as flooding and vector-borne diseases.

What you should know

  • Poverty and Shared Prosperity report is an annual publication by the World Bank Group. The report jointly analyses three converging forces that are driving increase in global poverty and threaten to extend its effects far into the future.
  • Climate change may drive about 100 million additional people into poverty by 2030, many of whom reside in countries affected by institutional fragility and armed conflict, and where global extreme poverty is increasingly concentrated, such as the Sub-Saharan Africa (SSA).
  • The report provides new evidence on emerging ‘hot spots,’ where multiple threats to poor people’s lives and livelihoods converge, which are mostly found in Sub-Saharan Africa (SSA).
  • The World Bank Group has stepped up its support for regions in which extreme poverty is increasingly concentrated such as SSA.

Johnson is a risk management professional and banker with unbridled passion for research and writing. He graduated top of the class with B.sc Statistics from the University of Nigeria and an MBA degree with specialization in Finance from Ambrose Alli University Ekpoma, with fellowships from the Association of Enterprise Risk management Professionals(FERP) and Institute of Credit and Collections management of Nigeria (FICCM). He is currently pursuing his PhD in Risk management in one of the top-rated universities in the UK.

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Coronavirus

COVID-19 Update in Nigeria

On the 25th of February 2021, 634 new confirmed cases and 6 deaths were recorded in Nigeria

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Covid 19 update symptops

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 154,476 confirmed cases.

On the 25th of February 2021, 634 new confirmed cases and 6 deaths were recorded in Nigeria.

To date, 154,476 cases have been confirmed, 131,699 cases have been discharged and 1,891 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 1.49 million tests have been carried out as of February 25th, 2021 compared to 1.44 million tests a day earlier.

COVID-19 Case Updates- 25th February 2021,

  • Total Number of Cases – 154,476
  • Total Number Discharged – 131,722
  • Total Deaths – 1,891
  • Total Tests Carried out – 1,489,103

According to the NCDC, the 634 new cases are reported from 22 states- Lagos (259), Osun (45), Edo(38), Ogun (35), FCT (33), Anambra (26), Imo (24), Ondo (24), Akwa Ibom (20), Plateau (20), Abia (19), Kaduna (19), Ebonyi (17), Borno (10), Rivers (10), Kano (9), Delta (8), Kebbi (7), Nasarawa (4) Oyo (3), Enugu (2) and Ekiti (2).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 55,122, followed by Abuja (19,115), Plateau (8,854), Kaduna (8,422),  Oyo (6,708), Rivers (6,398), Edo (4,491), Ogun (4,277), Kano (3,716), Ondo (2,944), Kwara (2,875), Delta (2,539), Osun (2,326), Nasarawa (2,208), Gombe (2,031), Katsina (2,029), Enugu (1,998), Ebonyi (1,839), Anambra (1,615), and Abia (1,487).

Imo State has recorded 1,440 cases, Akwa Ibom (1,439), Borno (1,247), Bauchi (1,221), Benue (1,188), Niger (912), Ekiti (797), Sokoto (768), Bayelsa (767), Adamawa (762), Taraba (712), Jigawa (496), Kebbi (358), Yobe (268), Cross River (267), Zamfara (219), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.

Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.

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On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.

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READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

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Coronavirus

Covid-19: Nigeria’s COVAX supplies on its way soon – Okonjo-Iweala

Dr. Okonjo-Iweala has stated that Nigeria’s COVAX vaccine supplies are on the way.

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The Director-General of the World Trade Organisation and former Nigerian Finance Minister, Dr. Ngozi Okonjo-Iweala, has revealed that Nigeria’s COVAX vaccine supplies will soon be on the way while stating that the WTO must be part of the process for transparent vaccines delivery.

The WTO boss disclosed this in a social media statement on Wednesday evening, where she expressed joy that Ghana had received 600,000 COVAX vaccines.

She said, “Very happy to see first delivery of #COVAX supported vaccines to Ghana… Excited to see more countries following. Nigeria’s supplies should be on its way soon.

“No trade restrictions or bureaucracy should get in the way. The WTO must be part of the solution.”

What you should know 

  • Nairametrics reported that Ghana had received the first shipment of Covid-19 vaccines from COVAX, a global scheme to procure and distribute inoculations for free, as the world races to contain the pandemic.
  • “The 600,000 doses of the AstraZeneca/Oxford vaccine licensed by the world’s largest vaccine manufacturer, the Serum Institute of India, are part of an initial tranche of deliveries headed to several low and middle-income countries,” the WHO said.

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