Famous legal expert Wole Olanipekun (SAN) has drawn attention to the widespread poverty in Nigeria, pointing out that more than 70% of the country’s population currently lives below the poverty line.
Olanipekun reportedly said these things over the weekend at his hometown of Ikere, Ekiti, according to Anaedoonline.ng.
The distinguished jurist also called attention to the general climate of stress, turmoil, anxiety, strain, perplexity, animosity, suffering, anguish, and transmitted anger among a large number of people.
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He went on to say that Nigeria is dealing with much more difficult issues, which are made worse by the ongoing insecurity that the nation has been dealing with for more than ten years.
“The poverty level in Nigeria today is not just scary but also terrifying, as over 70 per cent of Nigerians are rudderless and poverty stricken,” Olanipekun noted.
In the meantime, the World Bank has attributed the rise in severe poverty worldwide in 2019 to the COVID-19 pandemic epidemic that wreaked havoc on the globe.
The global apex bank described how the coronavirus outbreak and the ongoing conflict between Russia and Ukraine halted progress in reducing extreme poverty globally in a study that was posted on its official website on Friday.
The report said: “The COVID-19 pandemic has reversed some progress. In 2020, for the first time since the 1997 Asian financial crisis, the number of people living in extreme poverty increased. It is estimated that the number of extremely poor will increase by about 70 million in 2020.
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“Close to 11 per cent more people lived in extreme poverty in 2020 compared to 2019. Since then, an uneven economic recovery, rising food prices, and conflict among some of the world’s biggest food producers have stalled progress further. As a result, it has become more difficult to reach the SDG target of ending poverty by 2030 unless the poorest countries grow at rates not seen before. Current projections suggest that in 2030, 574 million people, equivalent to nearly seven per cent of the world’s population, will remain in extreme poverty.”
The most recent World Bank report is released as Nigerians struggle to cope with the severe effects of the elimination of fuel subsidies and the depreciation of the naira.
Anaedoonline.ng remembers that President Bola Tinubu quickly ended the fuel subsidy after taking office. His actions caused the pump price of fuel to jump dramatically, from N189 per litre to above N600, at which point it is being sold.
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