Income Disparity In Nigeria

Nigeria is among the countries with high income inequality among its populace and.

Income disparity in nigeria. Latest 2020 nbs reports. Click here to download 2019 poverty and inequality in nigeria pdf report. The purpose of this paper is to decompose the inequities induced by the nigerian health care financing sources and their effect on the income distribution. Income inequality is on the rise the richest 10 percent have up to 40 percent of global income whereas the poorest 10 percent earn only between 2 to 7 percent.

If we take into account population growth inequality in developing countries inequality has increased by 11 percent. Gdp by income and expenditure approach q4 2019 household final consumption declined by 2 40. The objective was to examine the rate of poverty and income distribution in nigeria using the lorenz curve and gani coefficient. This study adopted the nigerian bureau of statistics survey to examine poverty and income inequality in nigeria.

The national bureau of statistics nbs recently released the 2019 poverty and inequality in nigeria report which highlights that 40 percent of the total population or almost 83 million people live below the country s poverty line of 137 430 naira 381 75 per year. Nigeria can close the inequality gap. 1 1 background to the study. In 2016 between 12 1 and 21 5 of nigeria s youth were without a job.

Average price of 1kg of rice increased by 21 yoy to n438 66 in march 2020. Home news sdgs. Inequities in health care financing sources are of immense policy concern particularly in developing countries such as nigeria where high level income inequality exists and the cost of medical care is generally financed out of pocket oop. Poverty in the face of abundance is now the world s greatest challenge and major developmental objective is the achievement of equality in the distribution of income and reduction of poverty.

Income inequality and poverty in nigeria. The government must work with the international community to get food and aid to hungry people now. Nigeria has been a developing country and income inequality is relatively high and on the increase. Chapter one introduction.

Income inequality is estimated to remain noticeable in coming years economic forum 2014 especially in less developed countries. Income inequality at the heart nigeria s poverty expert on october 29 2019 11 23 pm in news by nwafor. Income inequality at the heart nigeria s poverty expert sdgs. Nigeria is not a poor country yet millions are living in hunger.

About 2 8 billion persons of the world s population.