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In the year 2050, 40% of the world’s poorest population will live in Nigeria and D. R Congo

In the year 2050, 40% of the worlds poorest population will live in Nigeria and D. R Congo

According to the goalkeepers reports from the Bill and Melinda Gates Foundation, 40% of the worlds poorest population will live in Nigeria and the Democratic Republic of Congo by the year 2050. The 2018 goalkeepers report released on Tuesday states that in the year 2050, 152 million people out of a projected population of 429 million in Nigeria will live in abject poverty.

The annual report, produced in partnership with the Institute for Health Metrics and Evaluation (IHME) at the University of Washington, tracks  all progress made on the United Nations sustainable development goals (SDGs).

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The International Monetary Fund (IMF) said in March that Nigerians are getting poorer due to the lack of coherent and comprehensive economic reforms. In the same vein,  Brookings Institution reported in June that Nigeria had overtaken India as the nation with the highest number of poor people, with 87 million of its citizens in extreme poverty.

It further went on to blame this on the lack of investment in human capital as opposed to the increasing population growth in the country. At the moment, Nigeria is said to be the seventh most populous country in the world with an estimated population of 198 million.

The goalkeepers report said while more than a billion in the world have lifted themselves out of extreme poverty since 2000, “extreme poverty is becoming heavily concentrated in sub-Saharan African countries”. 

The report said:

“By 2050, that’s where 86 percent of the extremely poor people in the world are projected to live. The challenge is that within Africa, poverty is concentrating in just a handful of very fast-growing countries,”

“By 2050, for example, more than 40 percent of the extremely poor people in the world will live in just two countries: Democratic Republic of Congo and Nigeria. Even within these countries, poverty is still concentrating in certain areas.”

The report said this is because the poorest parts of the world are growing faster than ever. “If current trend continues, the number of poor people in the world will stop falling – and could even start rising”

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It warned that decades of exceptional progress in the fight against poverty and disease may be on the verge of stalling. The foundation said the poverty crisis should be addressed, and adequate investment should to be made in young people, especially in areas of health, education and human capital development.

      In the year 2050, 40% of the world’s poorest population will live in Nigeria and D. R Congo

“Investing in young people’s health and education is the best way for a country to unlock productivity and innovation; cut poverty, create opportunities and generate prosperity,” the report added.

“The next step is making sure children don’t merely survive but also thrive.”

Unfortunately, the education and health sectors in Nigeria have suffered neglect over the years. It is reported that in 2018, N542 billion was set aside for the education sector while health got N356 billion – out of the N9.1 trillion budget.

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