Nigeria risks widespread poverty as households prioritise food over education, savings

Nigeria is facing a severe poverty crisis, with many households forced to prioritize food over education and savings. A recent survey by the Central Bank of Nigeria found that households plan to spend most of their income on food, education, and household items over the next six months. 

This trend is alarming, as it indicates that many Nigerians are struggling to make ends meet and are being forced to make difficult choices between basic necessities like food and long-term investments like education and savings. The consequences of this trend could be devastating, with widespread poverty and decreased economic mobility.

In fact, Nigeria already has the highest number of people living on less than $1.90 a day, earning it the unfortunate title of "poverty capital of the world.  The situation is further complicated by regional disparities in poverty rates, with some areas experiencing significantly higher levels of poverty than others. 

To address this crisis, it's essential that the government and other stakeholders take a comprehensive approach to addressing poverty and promoting economic development. This could include initiatives to improve access to education and job training, as well as programs to support small businesses and entrepreneurs.

https://guardian.ng/news/nigeria-risks-widespread-poverty-as-households-prioritise-food-over-education-savings/