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27.4m Nigerians earn less than N100K per annum — SERAP

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The Social Economic Rights and Accountability Project (SERAP) has disclosed that over 27 million Nigerians live far below the poverty line, earning less than N100,000 per annum.

This was disclosed in a 61-page report launched at the Radisson Blu Hotel, Ikeja, Lagos, and signed by SERAP’s Deputy Director, Mr. Kolawole Oluwadare, titled ‘How corruption is plunging Nigerians further into poverty’, on Thursday.

Speaking on a report titled, ‘The Ignored Pandemic: How Corruption in the Health, Education and Water Sectors is Plunging Nigerians further into poverty’, Mr. Oluwadare noted that budget fraud and other illegal actions are responsible for the economic woe Nigerians are passing through.

He also discloses that corruption contributes to poverty and consequential suffering of people living in poor neighbourhoods.”

“Budget fraud, procurement fraud, embezzlement of funds among other illegal actions, lead to failure in the delivery of services, including education, water and health. People living in poor neighbourhoods have suffered so much that they consider poor service delivery as being good enough.

“57.3 per cent of people living in poor neighbourhoods were youths between 18 and 35 years old. Poor people are victims and not perpetrators of corruption in the health, education and water sectors.

“48.90 per cent of people living in poverty, that is, more than 27,453,154 (twenty-seven million, four hundred and fifty-three thousand, one hundred and fifty-four) earned less than N100, 000. 27.9 per cent, that is more than 15,663,456 (fifteen million, six hundred and sixty-three thousand, four hundred and fifty-six) earned between N100, 000 and N200, 000 per annum.

“10.70 per cent earned between N201, 000 and N300, 000 per annum. 12.50 per cent earned more than 300 Naira per annum.

“65 per cent of people living in poor neighbourhoods stayed in either one-bedroom or two-bedroom accommodation.

“Up to 4 per cent of people living in poverty, that is, about 2,245,657 (two million, two hundred and forty-five thousand, six hundred and fifty-seven) had physical disabilities,”the report reads.

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