Economist predicts Nigeria will Overtake India as world’s poorest people

A non-governmental organisation in Vienna, World Poverty Clock, funded by the German government and led by Homi Kharas, deputy director of the Brookings Institution in the US, and Wolfgang Fengler, a World Bank lead economist, is predicting that Nigeria will overtake India as the country with one of the world’s poorest people.

A Financial Times’ report below revealed that an estimated 47m people, almost equivalent to the population of Colombia, are likely to escape extreme poverty this year. But that will not be enough to get anywhere near the UN’s Sustainable Development Goal of ending extreme poverty — defined as living on less than $1.90 a day at 2011 purchasing power parity prices — by 2030.

By 2030, there will be 200m fewer people living in extreme poverty than there are today. However, 438m, or 5 per cent of the world’s…