For Nigeria, this is due to many reasons, first of all, population. Nigeria’s population is growing faster than its economy. Between 1990 and 2013, Nigeria’s population increased by 81%. And by 2050, according to the UN, Nigeria will be third most populous country in the world. Only behind China and India.
And while poverty is billed to widely increase in 2018, the IMF projects. Nigeria’s GDP to rise by only 0.8% in 2018, after the 2016 recession showed down the economy.
High rate of unemployment, corruption, the lack of basic amenities, difficulty in doing business and now, millions living in poverty. It’s just another Friday in Nigeria.