From An Acorn To An Oak Tree Ps. 92:12

Why we do; what we do? 85% of the world poor live in Asia and Africa, and 12% are from Nigeria.

by: Ejiro U. Osiobe

According to Katayama. R, an economist, and Wadhwa. D, a data scientist; in a 2015 study published by the World Bank (WB); 50% of the world’s poorest people, live in just five countries. Out of the five, two are from South Asia. Of the two from South Asia, 24% are from India and 3% from Bangladesh. The remaining three nations are from Sub-Saharan Africa. From the Sub-Saharan nations’, 12% are from Nigeria, 7% from the Democratic Republic of the Congo (Congo, Dem Rep.), and 4% are from Ethiopia.

Figure 1

The two regions, “South Asia and Sub-Saharan Africa,” together account for 85% (629 million) of the world’s poor; according to the dataset of 2015. In 2018, the number was 700 million or 10% of the world’s total population. Therefore, to make significant progress towards meeting goal 1 “ending poverty in all its forms everywhere” out of the 17 sustainable development goals, the Ane Osiobe International Foundation aims to provide programs that spreads the gift of hope in the nation of Nigeria by providing data-driven studies and helping kids who have potential, with opportunities that level the playing field. At the foundation, our primary goal is to help the Nigerian public gain an understanding of themselves while learning how they can develop their skills. Our set out goals would help foster the United Nations target in reducing global poverty by 3% by 2030. The reductions in poverty in these five countries will be crucial as each of the nations’ have a high population to landmass density.

Figure 2

India:

India’s population is about 1.4 billion people, which is equivalent to 18.18% of the total world population. The nation’s landmass is about 2.4% of the world’s land area. The economy of India is the 6th largest in the world with a Gross Domestic Product (GDP) of USD 2.30 trillion. Converted to GDP Purchasing Power Parity (PPP), it is the third-largest economy in the world with a GDP-PPP of USD 8.52 trillion, and the country has a population density of 460 per Km2 (1,192 people per mi2).

Nigeria:

The Federal Republic of Nigeria’s population is about 201 million people, which is equivalent to 2.6% of the world’s total population. The nation’s landmass is about 356,667 mi²/910,770 Km². The economy of Nigeria is the 31st largest economy in the world, with a GDP of USD 397,472 million. The country’s population density in Nigeria is 221 per Km2 (571 people per mi2), and the median age in the land is 18 years.

Figure 3

Bangladesh:

Bangladesh’s population is about 161 million people, which is equivalent to 20.09% of the total world population and the median age in Bangladesh is 26 years. The total landmass of the nation is 130,170 Km2 (50,259 sq. miles) with a population density of 1291 per Km²2 (3,344 people per mi²). The economy of Bangladesh is market-based and is one of the fastest-growing economies in the world, the nation is ranked the 41st largest economy in the world in terms of nominal GDP and ranked 30th largest economy by GDP-PPP.

Figure 4

Figure four shows, the projections of the top five most extreme poor-nations’ from 2012 – 2030. From Figure four, one can infer that Bangladesh and India (Uniform Reference Period (URP) and Modified Mixed Reference Period (MMRP)) show a fast-declining rate, which implies that these nations’ standard of living has been improving over time between 2012 – 2019 and projected 2020 – 2030. Ethiopia showed a slowly declining rate, which implies that the national standard of living is gradually improving. While Nigeria and the Congo, Dem, Rep showed a flat decline. Which means that these nations’ would remain relatively the same between 2020 – 2030 at their current economic (standard of living) status.

Ethiopia:

The Federal Democratic Republic of ‘s population is about 110.5 million people which is equivalent to 1.43% of the total world population and the median age in Ethiopia is 19 years. The total landmass of the nation is 1,000,000 Km² (386,102 mi²) with a population density of 110 per Km² (285 people per mi²). The economy of Ethiopia is a market-based economy, and it is ranked number 12 in the list of countries (and dependencies).

Figure 5

Figure five shows, the nation of Nigeria trend, which is relatively flat from 2012 – 2030. This implies that the nation of Nigeria needs to invest in its economy, but by the public and private sector and a joint sector agreement would foster economic growth and development much faster over time.

The Democratic Republic of the Congo:

The current population of the Congo, Dem, Rep 87 million people, which is equivalent to 1.12% of the total world population. The nation has a median age of 17 years. The nation’s landmass is about 2,267,050 Km²/875,313 mi². The economy of Congo, Dem, Rep ranks number 16th in the list of countries dependency ratio by population.

Table 1

Table one shows, the ranking of identified countries in this reports’ GDP per capita (PPP) with other 191 countries. Where 1 = lowest; while 191 = highest. The one shows Congo’s, Dem, Rep. as the lowest country in terms of GDP – Per Cap; followed by Ethiopia, Bangladesh, Nigeria, and India. At this point, there will be no further explanation, there will be a reputation to build a better stronger Nigeria, and WE NEED EVERY NIGERIAN’S HELP.

According to figure 4 and 5, when the projections of the declining poverty rate/ratio are based on a county’s growth rate pattern that is correlated with its past growth rates which are related to the regional average over the last ten years. Extreme poverty nations’ such as in India and Bangladesh approaches zero by 2030, but extreme poverty nations’ like Nigeria, the Congo’s, Dem, Rep, and Ethiopia remains quite elevated.

The uneven progress across these five countries is indicative of the broader uneven growth and development globally. An outcome where extreme poverty is nearly eliminated in some regions’ worldwide except in others (the Sub-Saharan African areas) certainly does not portray a picture of a world free of poverty. As emphasized in the Poverty and Shared Prosperity Report 2018, we should go beyond the focus on reducing the global poverty rate to below 3% and strive to ensure that all countries and all people can share in the benefits of economic development. Although this may be challenging, the Ane Osiobe International Foundation “gives back, to Nigeria, even when we’re struggling ourselves because we know that there is always someone; somewhere much worse off, and there but for the grace of GOD go I!!.”

Figure 6

Figure six shows, the GDP – PPP (constant 2011 international $) of the selected five countries with India, ranked #1 among the chosen five countries, followed by Nigeria, Bangladesh, Congo. Dem. Rep. and Ethiopia. 

Figure 7

Figure seven shows; the selected four countries (excluding India) GDP, PPP (constant 2011 international $) with Nigeria ranked as #1, followed by Bangladesh, Congo. Dem. Rep; and Ethiopia.

 

Key Note:
For Figures and Table please see our An Ane Osiobe International Foundation Report (August 28th, 2019) at the Articles, Reports, and Publication section, at the Scholarship Tab!!!

 

  Reference:

[1] Beyond GDP - Report by the Commission on the Measurement of Economic Performance and Social Progress

[2] Central bank and monetary authority websites:

[3] Global Finance Magazine Beyond GDP - Report by the Commission on the Measurement of Economic Performance and Social Progress

[4] Global news and insight for corporate financial professionals

[5] International Monetary Fund (IMF) World Economic Outlook (WEO) database, October 2014

[6] New York Times: "The Rise and Fall of the G.D.P."-are there better ways to measure a country's wealth and happiness?

[7] The World Bank Country Profiles:

[8] The World Bank: Blog:

[9] WEO Database October 2014-IMF