Enough economic inequality can transform a democracy into a plutocracy, a society ruled by the rich. Large inequalities of inherited wealth can be particularly damaging, creating, in effect, an economic caste system that inhibits social mobility and undercuts equality of opportunity.

How does extreme poverty affect Nigeria?

One of the main effects of poverty is poor health, as is reflected in Nigeria’s high infant mortality and low life expectancy. Poor people in Nigeria face several health issues as they lack basic health amenities and competent medical practitioners.

What is the 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.

Why is there no food in Nigeria?

But Nigeria has faced food shortage problems in the past. High prices of staple food, due to limited domestic production, often drive these shortages. This is due to the neglect of the agricultural sector and high dependence on oil revenue since 1970.

What does it mean to earn well in Nigeria?

You actually start earning well in Nigeria if your work/effort/skill matches your income at the end of the month or year. The people that actually earn well in Nigeria are people that are fully employed. According to the Nigerian Bureau of Statistics, you are fully employed when you do a job that matches your skill and qualifications.

Is it safe to live and work in Nigeria?

Yes Nigeria is a little dangerous, but I can tell you that I will be scared of coming to Punjab to work as you are of coming to Lagos. Like an earlier post says, so long as you keep a low profile, you should be okay. I have lived here for 3+ years now, and no incident for me.

What should be the basic needs of an average Nigerian?

An average Nigerian should be able to provide himself with basic life needs without any hitch. An average Nigerian is expected to provide the following even if it is in the most basic form. What is the Cost of Living in Nigeria?

What does it mean to be underemployed in Nigeria?

If you are an O’level holder in Nigeria, you don’t scale your salary in comparison with the salary of one with a higher qualification. The same goes for people with a higher qualification, if your skill and qualification are far below what you get at the end of the month, then you are underemployed.