The World Poverty Clock revealed that by 2030, majority of the world's extreme poor (those living on less than $1.90 per day) will be concentrated in Sub-Saharan Africa
The report stated that Africans account for about two-thirds of the world’s extreme poor.
“If current trends persist, they will account for nine-tenths by 2030. Fourteen out of 18 countries in the world - where the number of extreme poor is rising - are in Africa,” analysts and policy development at Washington-based Brookings Institution said.
Sara Biazar, Head of Client Relations, World Data Lab, in an email conversation, chat with Business Insider Sub-Saharan on Wednesday, June 27, 2018, said the report was meant to help policymakers identify and focus on poverty alleviation projects.
The report also revealed that by 2030, the majority of the world's extreme poor (those living on less than $1.90 per day) will be concentrated in Sub-Saharan Africa.
Biazar said Nigeria is now estimated to be the country with the highest number of people living in extreme poverty around the world.
"Nigeria finds itself in this position in large part due to India’s accelerated economic growth."
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When it comes to extreme poverty, India has been topping the list for years. But as India’s economy continues to grow, many Indians are benefiting from that newly generated wealth.
“The World Poverty Clock is not meant to tell you why any country is better or worse at reducing poverty. Rather the aim is to give as accurate a picture as possible of the current state of income-based poverty dynamics in a given country and where they are likely to go if current trends continue. The hope is that citizens, policymakers, and international development stakeholders can then use this data to inform their work,” she told Business Insider Sub-Saharan Africa.
Okechukwu Enelamah, Nigeria's minister of trade and investment said there is no cause for alarm in respect to the recent global poverty report released by World Data lab.
Enelamah stated this while responding to questions from journalists on Wednesday at the end of the weekly Federal Executive Council meeting in Abuja.
He said the Nigerian Muhammadu Buhari-led administration’s urgent infrastructure programmes and enabling environment for businesses will reduce the poverty rate.
He said the indices used in the poverty report was probably compiled when the country was in a recession.
Africa's largest economy had slipped into a recession in 2016 and exited in September 2017.
1. Nigeria 86.9 million people
2. D.R Congo 60.9 million people.
3. Ethiopia 23.9 million people
4. Tanzania with 19.9 million.
5. Mozambique 17.8 million
6. Kenya 14.7 million
7. Uganda 14.2 million
8. South Africa 13.8 million
9. South Sudan 11.4 million
10. Zambia 9.5 million
The World Poverty Clock report revealed that of the 10 countries on this extreme poverty list, only Ethiopia is on track to meet the United Nations’ SDG of ending extreme poverty by 2030 and outside the top 10, only Ghana and Mauritania are on track with the target.