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| Name | Why Are Nigerians So Poor? Despite The Country Being The Richest In Africa. |
| Video Uploader | Video From The New Tourist |
| Upload Date | This Video Uploaded At 21-04-2022 10:25:06 |
| Video Discription | Nigeria is the richest country in Africa. There is no doubt about that. But did you know Nigeria is often referred to as the poverty capital of the world? Why Is that? This is because, out of every 10 people living in poverty in the world, there are 9 Nigerians among them. Yes!! Surprising right? Nigeria despite being the richest country in Africa has the poorest people in the world. How is that possible? In this video, we are going to be seeing why Nigeria is so rich and at the same time has the poorest people in the world. Nigeria is an oil-rich country. When we say rich, we mean billions of dollars rich. Not just a small oil-producing country where oil contributes to a small part of its GDP. Nigeria is the sixth-largest Exporter Of petroleum in the world. Nigeria is a wealthy nation majorly because of its oil, but over 100 million people in the country live in poverty. The Major reason for this inequality is because wealth is so concentrated among the rich, so much so that, the top 5 richest people in Nigeria have enough money, power, and resources that can actually end the poverty in Africa’s most populous nation. So Why is Nigeria, Africa’s Richest Country still Poor despite having these elite rich individuals? There are several Reasons Why. One of the reasons is that the country’s government and some economic Elites Have Shown Little to “No efforts” at all when it comes to investing and developing in areas that could help eradicate poverty. Health and Education spending makes up only 3% and 5% of the national budget respectively despite all the money generated from the oil revenues. Neglect in Funding and investing in the education sector has been going on for years. This has pushed the illiteracy rate to go up as high as 66%. A recent report by UNICEF suggests that over 10 million children are out of school in the country despite being in the school-age window. Other Beautiful content you can watch on our channel. WHY IS SOUTH AFRICA SO RICH? https://youtu.be/ZplB13Qt6nU WHY IS NIGERIA SO RICH? https://www.youtube.com/watch?v=irHcy8gyv9w WHY IS GHANA SO RICH? https://www.youtube.com/watch?v=nQ-AIWRRv5Y Ongoing Multibillion-Dollar Projects In Africa: https://www.youtube.com/watch?v=7pGNMF-w_9Y Ongoing Mega Projects In South Africa: https://www.youtube.com/watch?v=wg3M9xmXvqI Most Impressive Mega Projects In Ghana: https://www.youtube.com/watch?v=jO6LelnI0yA Best Business Ideas That Will create billionaires in Africa:https://www.youtube.com/watch?v=k0l8bwoq8Gs Strongest Economies InAfrica: https://www.youtube.com/watch?v=Uf1mBofKwfE How Morocco Secretly Rules The World: https://youtu.be/BX6HuiQb49A Dangote's 14 Billion dollar Oil refinery: https://youtu.be/qSaCGHn8Lp0 Hope you enjoyed this video...Do Leave us alike. For any copyright, matters contact us at looxmediagroup@gmail.com FOOTAGE licensed through Storyblocks [WnOwtN3BMzM] |
| Category | Education |
| Tags | Nigeria | Why are nigerians so poor | nigerian | lagos nigeria | nigerian movies | abuja nigeria | why is nigeria so rich | why are nigerian so smart | why is nigeria so messed up | mega projects in nigeria | 21 mega projects in nigeria | completed mega projects in nigeria | why is nigeria rich and the people poor | why are nigerians poor | aso rock | nigerian economy documentary | nigeria economic crisis | nigeria economic growth | nigeria economic development | nigeria economic outlook | 2022 | oil |
