Home » Headlines » Nigerians & The Burden of Poverty

Nigerians & The Burden of Poverty

CBN governor, Sanusi Lamido Sanusi says about 70 per cent of Nigerians are currently living below poverty line, Current figures from the National Population Commission (NPC), put Nigeria’s population at about 150 million, and 70 per cent of this figure is 105 million. Michael Oche writes on this negative trend.
The governor of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi last year caused a row when he raised an alarm over the high cost of maintaining the National Assembly which he put at 25 per cent of the nation’s expenditure, saying if the trend was not checked, it would continue to stall the growth and development of the nation’s economy.

The poverty ration in Nigeria was previously put at 54 per cent. But excess government expenditure prior to the election may have propelled an increase in the poverty line. Despite its plentiful resources and oil wealth, poverty is widespread in Nigeria. The situation has worsened since the late 1990s, to the extent that the country is now considered to be one of the 20 poorest countries in the world. Over 70 per cent of the population is classified as poor, with 35 per cent living in absolute poverty.

Speaking at the 5th Annual Microfinance Conference and Entrepreneurship Awards recently in Abuja Sanusi said the scenario is unacceptable because it poses challenges to economic growth and development.

He said: “The number of people living below the poverty line has increased to about 70 per cent. The scenario is unacceptable to CBN because the trickle down effect is low and it may take longer time than anticipated”.

“There is little reason to believe that this wider diversion can be narrowed without much intensive effort.”

Majority of these  poor people reside in rural areas and cut across youth, women and elderly people. It is estimated that 12 million out of the 150 million Nigerians are unemployed;  youth and women form the chunk of this figures.

According to statistic, 49.9 percent of youth within the age of 15 and 24 years residing in the urban areas have no job while 39.6 percent of their counterparts in rural areas are also not employed.

Figures from the National Bureau of Statistics (NBS), put the number of unemployed women in the urban areas at 22 per cent and those in the rural areas at 24 per cent.

Recall that, at the climax to the PDP presidential primaries, former Vice President Atiku Abubakar, wrote President Goodluck Jonathan, warning that if implemented, the 2011 budget will make Nigeria worse economically, just as he said that Nigeria was broke.

Atiku alleged that Jonathan’s administration had been characterized with excessive borrowing which, according to him, was a negation of the Fiscal Responsibility Act.

“Mr. President, let me draw your attention to the simple meaning of your budget: not one kobo of our oil revenue (at a time of oil boom) is being spent on power and infrastructure”.

Atiku, in an 11-page letter personally sent to the president warned that any budget that was centred on consumption without corresponding investments in critical infrastructure, would in turn lead to a very serious economic disaster.

According to him, “at a time of unprecedented oil boom, you have presented Nigeria with a budget of consumption; a budget of debt accumulation to imperil the future; a budget that is rich in rhetoric and pedestrian initiatives but lacking in any bold step to lay the foundation for Nigeria’s development for the  next 20 to 50 years.

“I almost wept for Nigeria after reading your 2011 budget, which is your first budget as the  President of Nigeria. The rest of the world must be laughing at us. For a summary, you proposed a total expenditure of N4.22 trillion to be financed by a revenue estimate of N2.83 trillion, leaving a total deficit (new borrowing) of N1.4 trillion”.

“Mr. President, you plan to borrow 33 per cent of the entire budget, or 3.62 per cent of GDP which is higher than the 3 per cent stipulated in the Fiscal Responsibility Act. Your total debt service is N542 billion (which is higher than your total capital spending on power, roads, health and education put together). Your total recurrent expenditure (including debt service) is N3.023 trillion, meaning that with a revenue of N2.83 trillion, your government plans to borrow money to finance recurrent expenditure even if capital budget is zero. Your recurrent budget is 107 per cent of total revenue. Put differently, your capital budget is N1 trillion whereas, your deficit or planned borrowing is N1.4 trillion, meaning that even with a zero capital budget you plan to borrow about N400 billion to add to revenue to finance consumption. Mr. President, no one needs to be an economist to appreciate that this is a disaster.”

“If you continue to borrow at the average interest rate of 14 per cent by the 2012 budget, your borrowing in 2011 will add another N196 billion to debt service payment (and hence by 2012 debt service might be in excess of N738 billion). At the rate you are going, by 2015, debt service payment will be in excess of N1 trillion.”

Poverty is especially severe in rural areas, where social services and infrastructure are limited or non-existent. The great majority of those who live in rural areas are poor and depend on agriculture for food and income. About 90 per cent of the country’s food is produced by small-scale farmers cultivating tiny plots of land who depend on rainfall rather than irrigation systems. Surveys show that across the country, 44 per cent of male farmers and 72 per cent of female farmers cultivate less than 1 hecter  per household. Women play a major role in the production, processing and marketing of food crops. The poorest groups eke out a subsistence living but often go short of food, particularly during the pre-harvest period. A high proportion of rural people suffer from malnutrition and other diseases related to poor nutrition. The HIV/AIDS pandemic has also taken a heavy toll among the rural population.

Rural infrastructure in Nigeria has long been neglected, while investments in health, education and water supply have largely been focused on the cities. As a result, the rural population has extremely limited access to services such as schools and health centres, and about half of the population lacks access to safe drinking water. Limited education opportunities and poor health perpetuate the poverty cycle.

The neglect of rural infrastructure has also reduced the profitability of producing for the markets. Nigeria’s rural road network is one of the least developed in sub-Saharan Africa. The poor tend to live in isolated villages that can become virtually inaccessible during the rainy seasons. When there is a post-harvest marketable surplus, it is not always easy to reach the markets. Limited accessibility has also cut off small-scale farmers from sources of inputs, equipment and new technology. Crop yields are low because farmers lack these inputs. In particular, inadequate access to fertilizer is a real problem in many parts of the country where farmers have to cope with diminishing soil fertility. The situation is aggravated by the fact that many farmers have access only to small parcels of land for cultivation.

As the population swells and puts pressure on diminishing resources, escalating environmental problems further threaten food production. Land degradation, as a result of extensive agriculture, deforestation and overgrazing, is already at an alarming level in many parts of the country. Drought has become common in the north, while in the south and south-east erosion provoked by heavy rains, floods and oil pollution is a major problem. Large parts of Nigeria’s primary forests, and the wildlife that they harbour, are disappearing.

Poverty and violence are often closely interconnected. Both religious and ethnic tensions continue to brew in different parts of Nigeria, erupting into outbreaks of violence and leading in turn to a situation of escalating poverty and malnutrition. The move towards political liberalization has allowed militants from religious and ethnic groups to express their frustrations freely, and with increasing violence, thousands have died over the past years in clashes between different ethnic and religious groups.

-Leadership

xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonxosokeonhacaiketquabongdalichthidau7m.newskqbdtysokeobongdabongdalufutebol ao vivofutemaxmulticanaisonbethttps://bsport.fithttps://onbet88.ooohttps://i9bet.bizhttps://hi88.ooohttps://okvip.athttps://f8bet.athttps://fb88.cashhttps://vn88.cashhttps://shbet.atbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá phủikèo nhà cái onbetbóng đá lu 2thông tin phòng thay đồthe thao vuaapp đánh lô đềdudoanxosoxổ số giải đặc biệthôm nay xổ sốkèo đẹp hôm nayketquaxosokq xskqxsmnsoi cầu ba miềnsoi cau thong kesxkt hôm naythế giới xổ sốxổ số 24hxo.soxoso3mienxo so ba mienxoso dac bietxosodientoanxổ số dự đoánvé số chiều xổxoso ket quaxosokienthietxoso kq hôm nayxoso ktxổ số megaxổ số mới nhất hôm nayxoso truc tiepxoso ViệtSX3MIENxs dự đoánxs mien bac hom nayxs miên namxsmientrungxsmn thu 7con số may mắn hôm nayKQXS 3 miền Bắc Trung Nam Nhanhdự đoán xổ số 3 miềndò vé sốdu doan xo so hom nayket qua xo xoket qua xo so.vntrúng thưởng xo sokq xoso trực tiếpket qua xskqxs 247số miền nams0x0 mienbacxosobamien hôm naysố đẹp hôm naysố đẹp trực tuyếnnuôi số đẹpxo so hom quaxoso ketquaxstruc tiep hom nayxổ số kiến thiết trực tiếpxổ số kq hôm nayso xo kq trực tuyenkết quả xổ số miền bắc trực tiếpxo so miền namxổ số miền nam trực tiếptrực tiếp xổ số hôm nayket wa xsKQ XOSOxoso onlinexo so truc tiep hom nayxsttso mien bac trong ngàyKQXS3Msố so mien bacdu doan xo so onlinedu doan cau loxổ số kenokqxs vnKQXOSOKQXS hôm naytrực tiếp kết quả xổ số ba miềncap lo dep nhat hom naysoi cầu chuẩn hôm nayso ket qua xo soXem kết quả xổ số nhanh nhấtSX3MIENXSMB chủ nhậtKQXSMNkết quả mở giải trực tuyếnGiờ vàng chốt số OnlineĐánh Đề Con Gìdò số miền namdò vé số hôm nayso mo so debach thủ lô đẹp nhất hôm naycầu đề hôm naykết quả xổ số kiến thiết toàn quốccau dep 88xsmb rong bach kimket qua xs 2023dự đoán xổ số hàng ngàyBạch thủ đề miền BắcSoi Cầu MB thần tàisoi cau vip 247soi cầu tốtsoi cầu miễn phísoi cau mb vipxsmb hom nayxs vietlottxsmn hôm naycầu lô đẹpthống kê lô kép xổ số miền Bắcquay thử xsmnxổ số thần tàiQuay thử XSMTxổ số chiều nayxo so mien nam hom nayweb đánh lô đề trực tuyến uy tínKQXS hôm nayxsmb ngày hôm nayXSMT chủ nhậtxổ số Power 6/55KQXS A trúng roycao thủ chốt sốbảng xổ số đặc biệtsoi cầu 247 vipsoi cầu wap 666Soi cầu miễn phí 888 VIPSoi Cau Chuan MBđộc thủ desố miền bắcthần tài cho sốKết quả xổ số thần tàiXem trực tiếp xổ sốXIN SỐ THẦN TÀI THỔ ĐỊACầu lô số đẹplô đẹp vip 24hsoi cầu miễn phí 888xổ số kiến thiết chiều nayXSMN thứ 7 hàng tuầnKết quả Xổ số Hồ Chí Minhnhà cái xổ số Việt NamXổ Số Đại PhátXổ số mới nhất Hôm Nayso xo mb hom nayxxmb88quay thu mbXo so Minh ChinhXS Minh Ngọc trực tiếp hôm nayXSMN 88XSTDxs than taixổ số UY TIN NHẤTxs vietlott 88SOI CẦU SIÊU CHUẨNSoiCauVietlô đẹp hôm nay vipket qua so xo hom naykqxsmb 30 ngàydự đoán xổ số 3 miềnSoi cầu 3 càng chuẩn xácbạch thủ lônuoi lo chuanbắt lô chuẩn theo ngàykq xo-solô 3 càngnuôi lô đề siêu vipcầu Lô Xiên XSMBđề về bao nhiêuSoi cầu x3xổ số kiến thiết ngày hôm nayquay thử xsmttruc tiep kết quả sxmntrực tiếp miền bắckết quả xổ số chấm vnbảng xs đặc biệt năm 2023soi cau xsmbxổ số hà nội hôm naysxmtxsmt hôm nayxs truc tiep mbketqua xo so onlinekqxs onlinexo số hôm nayXS3MTin xs hôm nayxsmn thu2XSMN hom nayxổ số miền bắc trực tiếp hôm naySO XOxsmbsxmn hôm nay188betlink188 xo sosoi cầu vip 88lô tô việtsoi lô việtXS247xs ba miềnchốt lô đẹp nhất hôm naychốt số xsmbCHƠI LÔ TÔsoi cau mn hom naychốt lô chuẩndu doan sxmtdự đoán xổ số onlinerồng bạch kim chốt 3 càng miễn phí hôm naythống kê lô gan miền bắcdàn đề lôCầu Kèo Đặc Biệtchốt cầu may mắnkết quả xổ số miền bắc hômSoi cầu vàng 777thẻ bài onlinedu doan mn 888soi cầu miền nam vipsoi cầu mt vipdàn de hôm nay7 cao thủ chốt sốsoi cau mien phi 7777 cao thủ chốt số nức tiếng3 càng miền bắcrồng bạch kim 777dàn de bất bạion newsddxsmn188betw88w88789bettf88sin88suvipsunwintf88five8812betsv88vn88Top 10 nhà cái uy tínsky88iwinlucky88nhacaisin88oxbetm88vn88w88789betiwinf8betrio66rio66lucky88oxbetvn88188bet789betMay-88five88one88sin88bk88xbetoxbetMU88188BETSV88RIO66ONBET88188betM88M88SV88Jun-68Jun-88one88iwinv9betw388OXBETw388w388onbetonbetonbetonbet88onbet88onbet88onbet88onbetonbetonbetonbetqh88mu88Nhà cái uy tínpog79vp777vp777vipbetvipbetuk88uk88typhu88typhu88tk88tk88sm66sm66me88me888live8live8livesm66me88win798livesm66me88win79pog79pog79vp777vp777uk88uk88tk88tk88luck8luck8kingbet86kingbet86k188k188hr99hr99123b8xbetvnvipbetsv66zbettaisunwin-vntyphu88vn138vwinvwinvi68ee881xbetrio66zbetvn138i9betvipfi88clubcf68onbet88ee88typhu88onbetonbetkhuyenmai12bet-moblie12betmoblietaimienphi247vi68clupcf68clupvipbeti9betqh88onb123onbefsoi cầunổ hũbắn cáđá gàđá gàgame bàicasinosoi cầuxóc đĩagame bàigiải mã giấc mơbầu cuaslot gamecasinonổ hủdàn đềBắn cácasinodàn đềnổ hũtài xỉuslot gamecasinobắn cáđá gàgame bàithể thaogame bàisoi cầukqsssoi cầucờ tướngbắn cágame bàixóc đĩa开云体育开云体育开云体育乐鱼体育乐鱼体育乐鱼体育亚新体育亚新体育亚新体育爱游戏爱游戏爱游戏华体会华体会华体会IM体育IM体育沙巴体育沙巴体育PM体育PM体育AG尊龙AG尊龙AG尊龙AG百家乐AG百家乐AG百家乐AG真人AG真人<AG真人<皇冠体育皇冠体育PG电子PG电子万博体育万博体育KOK体育KOK体育欧宝体育江南体育江南体育江南体育半岛体育半岛体育半岛体育凯发娱乐凯发娱乐杏彩体育杏彩体育杏彩体育FB体育PM真人PM真人<米乐娱乐米乐娱乐天博体育天博体育开元棋牌开元棋牌j9九游会j9九游会开云体育AG百家乐AG百家乐AG真人AG真人爱游戏华体会华体会im体育kok体育开云体育开云体育开云体育乐鱼体育乐鱼体育欧宝体育ob体育亚博体育亚博体育亚博体育亚博体育亚博体育亚博体育开云体育开云体育棋牌棋牌沙巴体育买球平台新葡京娱乐开云体育mu88qh88

Short URL: http://newnigerianpolitics.com/?p=2808

Posted by on Jan 23 2011. Filed under Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

YCE, Yoruba Ronu disagree on alleged disgrace of monarchs by Obasanjo

Headlines

Emefiele: DSS release detained CBN Deputy Governor

Categories

Browse Today’s Politics

Featuring Top 5/8 of Today's Politics

Our fear is that Akpabio cannot checkmate the ‘Yorubanisation’ of the financial system – Northern Senators

Browse Africa & World Politics

Featuring Top 3/2344 of Africa & World Politics

Browse National Politics

Featuring Top 5/1313 of National Politics

Pastor Enoch Adeboye: Ask God to kill me if…

Browse NNP Columnists

Featuring Top 10/1554 of NNP Columnists

Presidential Tribunal: Babatunde Fashola denies writing judgment, petitions Twitter to reveal fake news source

Advertisements

FEATURED VIDEOS

Group alleges plot to subvert justice at presidential election petition tribunal

ARCHIVES

January 2011
S M T W T F S
« Dec   Feb »
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

© 2023 New Nigerian Politics. All Rights Reserved. Log in - Designed by Gabfire Themes