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Unemployment in the north is extremely high. Nigeria is described to be a country of two nations, where the South is much more stable and prosperous, but the north on the other hand, is in a poverty trap (Odunsi, 2016). South Nigeria has relatively low poverty rates, ranging from 16% in the South West to 28.8% in the South East. Poverty rates in the North West and North East, however, are 45.9% and 50.2%, respectively. While the South of Nigeria (especially the South West) has experienced a strong positive dynamic in poverty reduction in recent years, the poverty rate in the North West has remained stagnant, while poverty has actually increased in the North East (Abuja, 2014).
Despite its fast GDP growth and it being one of the biggest economy in Africa, Nigeria ranks around 160th out of 177 countries on the scale of the Human Development Index (HDI). Nigeria is a rich country from its exploitation of oil resources, yet some 70% of Nigerians live on less than US$1.25 a day (Rural Poverty Portal, 2014). The reasons as to why this is so will be further unravelled in the following sections.
Despite its fast GDP growth and it being one of the biggest economy in Africa, Nigeria ranks around 160th out of 177 countries on the scale of the Human Development Index (HDI). Nigeria is a rich country from its exploitation of oil resources, yet some 70% of Nigerians live on less than US$1.25 a day (Rural Poverty Portal, 2014). The reasons as to why this is so will be further unravelled in the following sections.
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