Nigeria’s mean household income per capita is $1168, as compared to India’s $1759. However, this wouldn’t be an accurate measure of the welfare of the average Nigerian. What would be accurate to measure the economic growth as compared to its growing population will be the wealth distribution. More wealth is concentrated with the elites, despite the country’s oil wealth, than among the people. Those who have access to this oil wealth through politics have been the major recipients of the wealth. The high rate of unemployment, endemic corruption, the lack of basic social amenities for millions of people, the difficulty in doing business and the millions living in poverty are all consequences of the huge inequality in Nigeria. Hence, Nigeria’s rising extreme poverty numbers isn’t unexpected. Instead, it’s a direct result of years of negligent and ineffective government policies. It’s dependence on oil for years and an inability to generate non-oil revenue has led it to this. Even now, Nigeria’s 2018 record budget is running on a deficit and will be funded by much borrowing with government debts also on the rise. It would be extremely difficult for the country to meet that 1st goal of the SDGs, which all the other goals are more or less dependent on. The solution to this problem would be the formation of a credible policy aimed at eradicating poverty. The clock is ticking. To Receive SKYTREND NEWS Alerts On WhatsApp, Add 0802 739 7554; For Adverts Enquiries, Whatsapp 0802 739 7554, Send Articles & News Stories To editor@skytrendnews.com. Ventures Africa READ ALSO! First Bank’s Appalling Customer Service And Utter Disregard For Its Customers READ ALSO! Between GoDaddy And Namecheap: Making The Best Choice For Domain Name Registrar READ ALSO! Google Developing New Tools To Enhance Article Search For News Publishers On Subscription READ ALSO! The Hurdles Nigerian Youths Must Cross By 2019, By Dele Momodu READ ALSO! The Internet’s Future Lies With Its Next Billion Users — Sundar Pichai, Google CEO READ ALSO! Nigerian Filmmaker, Zuriel Oduwole Makes Forbes List Of 100 Most Influential African Women READ ALSO! Woman Marries Her Son After Getting Pregnant For Him READ ALSO! Smartphone Sales Fall As Samsung, Apple Consolidate Market Share READ ALSO! The Smart CEO: Top 5 Websites To Get Cheap Domain Name Registration ]]>