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October 10th, 2023 
Awake Goy About Nigeria:
In 2016 during its first recession in 25 years, the economy contracted by 1.6%.[2] Many individuals are faced with limited financial opportunities, extreme information poverty and unemployment, a lack of access to information technology resources, and other uniquely debilitating environmental circumstances as poverty.[10]
However, these programs have largely failed to overcome the three reasons[11] for this persistent poverty: income inequality, ethnic conflict, and political instability with corruption. The impact of COVID-19 has been disastrous to the economy with inflation on food items on the rise, markets were disrupted by the increase in prices of things and purchasing power.
High unemployment rates render personal incomes even more divergent.
The total expenditure of food and non-food produce a poverty incidence of 60.2 percent or 89,096,000 Nigerians living in poverty. This measure is used for poverty headcount comparison across countries. Poverty Line is N54,401.16.
Child poverty[edit]
One of the terrible effects of Nigeria’s poverty problems is the result of child poverty. A study made in 2001 from the Harmonized Nigeria Living Standard Survey (HNLSS) and the 2011 Multiple Indicator Cluster Survey (MICS) indicates that 23.22% of children are currently in extreme poverty and 70.31% of children in the country are in overall child poverty.[37] Education, health, nutrition, water, and sanitation are classified as child deprivation in Nigeria. Similarly to the main concentrations of extreme poverty in Nigeria, the majority of child poverty takes place in rural areas rather than urban areas. Action was taken on this problem when rule switched to democratic to fight child poverty and deprivation from the Child Rights Act in 2003, which was intended to guarantee welfare and basic living standards for children in Nigeria. However, the fact that many children are still in poverty and are suffering, the Child Rights Act wasn’t as successful as it seemed to be.[38][39]
DID COLONIAL POWERS MAKE NIGERIA POOR?
Areas of Africa controlled by European colonial powers in 1913: Belgian (yellow), British (red), French (blue), German (teal), Italian (lime green), Portuguese (purple), and Spanish (pink) empires.
The report points out that Africa has considerable riches. South Africa’s potential mineral wealth is estimated to be around $2.5tn, while the mineral reserves of the Democratic Republic of the Congo are thought to be worth $24tn.
However, the continent’s natural resources are owned and exploited by foreign, private corporations, the report said.
Bernard Adaba, policy analyst with Isodec (Integrated Social Development Centre) in Ghana said: “Development is a lost cause in Africa while we are haemorrhaging billions every year to extractive industries, western tax havens and illegal logging and fishing. Some serious structural changes need to be made to promote economic policies that enable African countries to best serve the needs of their people, rather than simply being cash cows for western corporations and governments. The bleeding of Africa must stop!”
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