Recently the World Bank stated that by 2022, about 11 million more Nigerians were expected to fall into poverty due to the COVID-19 crisis.
The World Bank also put the financing portfolio approved by its board for Nigeria at about $11.5bn.
The bank disclosed this during its Nigeria Development Update virtual event, which had the theme ‘Rising to the challenge: Nigeria’s COVID-19 response’.
In his presentation at the event, an economist with the bank, Marco Hernandez, stated that before the COVID-19 pandemic, about two million Nigerians were expected to fall into poverty in 2020 as population growth outpaced economic growth.
Info source: World bank journal