Nigeria listed among World bank's "Extreme poor Nation"

The World Bank lists Nigeria as one of the
extreme poor nations alongside India and
Bangladesh.
Jim Yong Kim, the President of the World
Bank made the announcement on Wednesday
in Washington, USA.
“The fact is that two-thirds of the world’s
extreme poor are concentrated in just five
countries: India, China, Nigeria, Bangladesh
and the Democratic Republic of Congo. If you
add another five countries, Indonesia,
Pakistan, Tanzania, Ethiopia and Kenya, the
total grows to 80 per cent of the extreme
poor.” he said.
Yesterday, Nigeria’s Finance Minister Ngozi
Okonjo-Iweala who was also contending for
the World Bank President seat with Kim, said
there was no reason for Nigeria to be singled
out.
According to Sahara Reporters, she argued
that the number of poor people in a country
irrespective of the country’s level of
development was the parameter used to rate
Nigeria among nations with high poverty level.
“India is a middle-income country, one of the
largest economies in the world like Nigeria, is
a big economy, but the largest number of poor
people in the world reside in India, China and
other places.
Most middle-income countries, including Brazil
have large number of poor people that is the
reality of today and Nigeria is no exception.
Nobody says that everything is fine but we are
learning and where we make some progress
like other countries, we should also
acknowledge it.” she said.