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The World Bank has said that the increase in prices that occurred between June 2020 and June 2021 could push about six million Nigerians into poverty.
The Bank said this in a new report titled ‘COVID-19 in Nigeria: Frontline Data and Pathways for Policy’.
The report read, “The rise in prices witnessed between June 2020 and June 2021 alone could push another six million Nigerians into poverty, with urban areas being disproportionately affected. This underscores the need for short-term policies to support welfare.
“The simple simulations suggest that the share of Nigerians living below the national poverty line could have increased from 40.1 per cent to 42.8 per cent, due to the food price inflation witnessed between June 2020 and June 2021.”
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The report also disclosed that poorer Nigerians were more willing to get COVID-19 vaccination unlike richer Nigerians, which further showed that the poor were more concerned about contracting the virus.
“Poorer Nigerians are more willing than richer Nigerians to be vaccinated. About 98 per cent of respondents in the poorest consumption quintile reported that they would agree to be vaccinated, compared to 74 per cent of those in the richest consumption quintile.
“As such, the differences between rich and poor respondents in their willingness to be vaccinated echo similar differences in their respective levels of concern about contracting COVID-19,” the report read.
