The World Bank says continuous increase in the price of commodities which occurred between June 2020 and June 2021 may have increased the percentage of Nigerians living below the national poverty line from 40.1 per cent to 42.8 per cent.
The bank made the disclosure in a new report titled, ‘COVID-19 in Nigeria: Frontline Data and Pathways for Policy.’
According to Worldometer, the current population of Nigeria is 213,145,112 as of Wednesday. Forty two per cent of the current population means about 91 million Nigerians may have been pushed below the national poverty line in one year due to inflation.
The report read in part, “The rise in prices witnessed between June 2020 and June 2021 alone could push another six million Nigerians into poverty, with urban areas being disproportionately affected; this underscores the need for short-term policies to support welfare.
“The simple simulations suggest that the share of Nigerians living below the national poverty line could have increased from 40.1 per cent (85 million) to 42.8 per cent (91 million), due to the food price inflation witnessed between June 2020 and June 2021.”
The report also disclosed that poorer Nigerians were more willing to be vaccinated unlike richer Nigerians, which further showed that the poor were more concerned about contracting the virus.
