African nations are now escaping extreme poverty but Nigeria continues to fall apart

The Brookings Institute while quoting World Data Lab report, said Africa has now reached a milestone in the fight against poverty.

“As of March 2019, more Africans are now escaping extreme poverty than are falling (or being born) below the poverty line.

“The pace of this net poverty reduction is currently very small: only 367 people per day. Nevertheless, by the end of this year, this rate will increase to over 3,000 people per day, resulting in a 1 million-person reduction in total African poverty in 2020.”

African nations are now escaping extreme poverty - first time since 2000 (World Poverty Clock) Pulse Nigeria

Last year, figures from the World Poverty Clock projected that by 2030, showed that the majority of the world's extreme poor people (those living on less than $1.90 per day) will be concentrated in Sub-Saharan Africa. These dynamics have changed as many African countries are making progress towards ending poverty.

According to the latest report, Equatorial Guinea, Gabon, Mauritius, and Seychelles have recorded successes as their poverty rates now ranked below 3%. The report also states that other countries such as Mauritania and Gambia will join by 2030.

Nigeria and DRC are still behind

But as African economies are growing and countries are reducing poverty rates, Nigeria and Democratic Republic of Congo (DRC) still pose challenges to poverty reduction in the world.

The Brookings Institute reports that the poverty rates of these two countries “represent more than one-quarter of total poverty in Africa today—and are expected to represent almost half of Africa’s poor by 2030.”

With Nigeria having 60% of the poverty figures between the two countries as 150 million citizens are still living below $1.90 per day.

African nations and their poverty rates:

1. Nigeria