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Business News of Monday, 28 November 2022

Source: www.legit.ng

Ondo, Lagos, Abia and Ekiti are the most prosperous states in Nigeria

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The implementation of poverty alleviation schemes in Ondo, Lagos, Abia and Anambra states is yielding results as they have emerged as the least poor states in Nigeria.

According to the 2022 Multidimensional Poverty Index released by the National Bureau of Statistics (NBS), these states have the least number of poor people in the country.

The Index measures poverty, reflecting the share of possible deprivations that poor people experience. It ranges from zero, indicating no poverty, to one, meaning universal poverty and lack.

The recent NBS report shows that Nigeria has 133 million poor people, representing 63 per cent of the nation's total population of 211 million. With a score of 0.257, the report said that a quarter of Nigerians suffer all kinds of possible deprivations.

The NBS report said: "Multidimensional poverty is higher in rural areas, where 72 per cent of people are poor, compared to 42 per cent of people in urban areas.

Approximately, 70 per cent of Nigeria's population live in rural areas, yet these areas are home to 80 per cent of poor people; the intensity of rural poverty is also higher: 42 per cent in rural areas compared to 37 per cent in urban areas."

As per the Report, 65 per cent of poor people, representing 86 million of the population, live in Northern Nigeria. In contrast, 47 million, about 35 per cent, live in the Southern part of the country.

States with the least poor people

Ondo State has the tiniest people in Nigeria, with an MPI of 0.095. The state's MPI score shows that poor people suffer just 9.5 per cent of all possible deprivations compared with 25.7 per cent of the entire country.

Lagos State scored 0.101 on the report and came second with the least poor people in Nigeria. Its MPI score shows that people in the state experience just 10.1 per cent of all possible deprivations.

Abia State scored 0.101 and ties with Lagos State. Anambra State has an MPI score of 0.109. In contrast, Ekiti State Score has an MPI of 0.125, showing that poor people in the state experience 10.9 per cent of all possible deprivations while people in Ekiti State experience 12.5 per cent of all potential denials.

BusinessDay report said these states implemented robust poverty alleviation programmes that are people-oriented, attributing it to job creation and free market dispositions, especially in Ondo State.