Nigeria Ranks 3rd Among Countries With Poorest People


Nigeria has been ranked the third nation with the poorest people in the world according to an annual global wealth report compiled by the Swiss bank.

The nation came third with 35 million Nigerians classified among the poorest people in the world, after China’s 72 million while India tops the list with 246 million people.

Also See: 75,000 Children In Nigeria May Die in a Few Months – United Nations

According to the report, nearly three-quarters of the world’s poorest billion live in Asian and African countries.

Other countries contributing significantly to the bottom wealth bracket are Russia with 28 million of the world’s poorest, Ukraine with 25 million and the United States with 21 million.

In the report published on DPA website, many of the world’s richest and poorest people live in Asian countries, highlighting the unequal distribution of wealth.

poorest people

China is home to 11,000 super-rich people, ranking second place after the United States with 70,400. Germany comes third with 6,100 people belonging to the executive top class.

Nigeria recently ranked 169th out of 190 countries by World Bank on its Ease of Doing Business index for 2017.

According to the World bank  report, Nigeria moved up by one point from 170th position on the 2016 ranking to 169th position for the 2017 ranking.

The World Bank’s Doing Business ranking for 2017 covers 11 indicator sets and provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the sub-national and regional level.

The report also showed that the most improvement for Nigeria, came in the area of access to credit where the country moved up by 16th position.

Also See: No Need To Panic Over Famine Reports, We Are Working Round The Clock To Avert It – FG

Details of the report revealed  Nigeria also ranked 138th position in terms of  Starting a Business, 174th position in terms of Getting Construction Permit, 180th position in terms of  Getting electricity, 182nd position in terms of Registering Property,  44th position in terms of Getting Credit, 32nd position in terms of Protecting minority investors, 182nd position in terms of Paying Taxes, 181st position in terms of Trading Across Borders, 139th position in terms of  Enforcing Contracts, and 140th position in terms of Resolving insolvency.