NEWS
World Bank Reports Reveal Stark Poverty Gap as Nigeria Records More Poor People Than India Despite Having Over One Billion Fewer Citizens
Recent reports released by the World Bank in 2024 and 2022 have revealed a striking contrast in poverty levels between Nigeria and India, showing that Nigeria currently has a higher number of people living in poverty despite having a far smaller population.
According to the data, India remains one of the most populous countries in the world with an estimated population of about 1.45 billion people. Nigeria, on the other hand, has an estimated population of approximately 232.68 million people.
However, the poverty statistics show a dramatic reversal of expectations when measured by the number of people living below the international poverty benchmark of less than three dollars per day.
The reports indicate that Nigeria’s poverty rate stands at about 41.8 percent of its population. By contrast, India’s poverty rate is significantly lower at 5.3 percent.
When these percentages are translated into actual numbers, the disparity becomes even more striking. India’s 5.3 percent poverty rate translates to approximately 76.85 million people living below the three-dollar-a-day threshold.
Nigeria, despite having a population nearly six times smaller than India’s, records about 97.26 million people living in poverty.
This means that Nigeria currently has about 20.41 million more people living below the three-dollar-per-day poverty line than India.
The data highlights the scale of the economic and social challenges confronting Nigeria, as a country with a significantly smaller population continues to record a larger number of people struggling to meet basic daily needs.
The findings have once again sparked renewed debate among economists, policymakers and development experts about the urgency of implementing sustainable economic reforms, expanding social safety nets and accelerating poverty reduction strategies across Nigeria.