Reports by Brookings Institution has shown that Nigeria has the highest number of extremely poor people.
The Institution in its report disclosed that India with a population of 1.324 billion people used to hold the prime position of world's poverty capital as against Nigeria's population of 200 million people. Nigeria produces six extremely poor people in every minute.
Report of the Institution read: "According to our our projections, Nigeria has already overtaken India as the country with the largest number of extremely poor people in early 2018, and the Democratic Republic of Congo could soon wrestle India from the number two derogatory position.
" At the end of May 2018, our projectories suggest that Nigeria has about 87 million people in extremely poverty, compared with India's 73 million. What's more, extreme poverty in Nigeria is growing by six people every minute, while poverty in India continues to fall.
"In fact, by the end of 2018 in Africa as a whole, there will probably be about 3.2 million more people living in extreme poverty than there is today."
The report went further to remark that Africa accounts for about two-thirds of the world's extreme poor, and if current trends persist, Africa would account for nine-tenths by 2030
"Fourteen out of 18 countries in the world where the number of extremely poor people are in Africa," it reported.
The International Monetary Fund confirmed this ugly situation in March 2018 when it said that Nigerians are getting poorer and advised for coherent and comprehensive economic reforms.