section_path: Demographics/Poverty
section_name: Poverty
paragraph_text: Poverty
  
  According to the International Monetary Fund, 32% of Nigeria's population lives in extreme poverty (as of 2017), living on less than US$2.15 a day. The World Bank stated in March 2022 that the number of poor Nigerians had increased by 5 million to 95.1 million during the Covid period. Accordingly, 40% of Nigerians live below the poverty line of US$1.90 as handled by the World Bank.
  
  The threshold amounts used internationally by the IMF and the World Bank do not take into account the local purchasing power of a US dollar. The methodology is therefore not without controversy. Despite the undoubted existence of slums in Nigeria, for example, the fact that 92% of men and 88% of women in Nigeria own a mobile phone is difficult to reconcile with the poverty percentages published by the IMF and the World Bank.