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Poverty Level In Nigeria Unchanged In Last 40 Years : World Bank

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For over 40 years Nigeria’s per capital income (PCI) remains the same, according to the World Bank.

PCI is derived by dividing a nation’s Gross Domestic Product, GDP by its total population. According to the National Bureau of Statistics, NBS Nigeria’s GDP stood at over $514 billion as at the middle of 2021. It is the highest in the continent followed by Egypt and South Africa with $39 billion and $329 billion, respectively.

But World Bank country director for Nigeria, Shubham Chaudhuri, says successive administrations in the country have not done much to improve the PCI.

In contrast, Seychelles has the highest PCI in Africa of $25,699 while that of Nigeria is just $2,052, according to figures obtained from the World Bank.

This means that the living standard, LS in countries such as Seychelles, Gabon and Algeria is higher than that of Nigeria.

The Living Standard Survey, LSS is used for measuring poverty and living standards in the country and is used to estimate a wide range of socio-economic indicators including benchmarking of the Sustainable Development Goals.

Speaking at the Nigerian Economic Summit, NES, Chaudhuri said those that have governed the country for more than four decades has not done much to increase the PCI, which he said has remained at the same level as 1981.

Nigeria’s PCI in 1981 was $2,180.2 and $2,097 in 2020, according to World Bank figures.

“Nigeria today has real per capita income that was the same as 40 years — in 1981. This means someone whose growth has been stunted.

“I heard the honourable minister talking about the medium term development plan, which has all the right ingredients. It will take time to get (the country) back to its full potential — it can’t happen overnight,” the World Bank chief said.

He advised the government to end the subsidy regime on petrol and channel such resources to improving other critical sectors such as provision of infrastructure, education and health care services.

“Nigeria is at a point in time where some critical decisions need to be made. It’s almost like the immediate treatment to halt further decline.

“I think the urgency of doing something now is because the time is going in terms of retaining the hope of young Nigerians in the future and potential of Nigeria.

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Parliament Rejects 2022 Budget After NPP MPs Walked Out

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Parliament has rejected the 2022 Budget Statement and Economic Policy read in the House by the Finance Minister, Ken Ofori-Atta, last week.

Members on the Majority side of Parliament staged a walkout on Friday, November 26, 2021, following a disagreement over a directive by the Speaker of Parliament, Alban Bagbin, for non-MPs to vacate the Chamber.

The Majority’s actions did not prevent the House from continuing with the business of the day as the budget received a rejection by solely NDC MPs.

The Majority MPs demanded that General Secretary of the NDC Johnson Asiedu Nketia who was seated in the public gallery leaves Parliament before they continue with the business of the House.

“Clearly, the No’s have it. The motion is accordingly lost,” the Speaker ruled.

Mr Asiedu Nketia ignored their request which infuriated the Majority MPs who walked out of the Chamber, leaving only members on the Minority side.

The Speaker of Parliament thus suspended the sitting for five minutes after which the business of the day proceeded.

A last-minute request by the Finance Minister to meet with the leadership of the House was turned down by MPs after the Speaker of Parliament announced that the ‘Nos’ had won the voice vote.

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Prempeh College Wins The 2021 National Science & Maths Quiz

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After months of intensive preparations, learning and competing with several schools Prempeh College has emerged as the winners for the 2021 edition of the National Science and Maths Quiz.

The Grand Finale of the NSMQ 2021 was held at the Great Hall of the Kwame Nkrumah University of Science and Technology-KNUST.

Prempeh College beat their rivals Presec with an interval of 4 points, having total points of 53 points and for the second position school which is Presec ending the contest with 49 points, Keta SHTS placed third with 30 points.

This is the fifth time Prempeh College has managed to win this competition.

We say CONGRATULATIONS to Prempeh College.

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Jake Paul Claims Floyd Mayweather Tried To Get Him Assassinated In Miami

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YouTube personality-turned boxer, Jake Paul claimed undefeated boxer Floyd Mayweather tried to have him assassinated earlier this year.

Paul and Mayweather were involved in a heated confrontation at a pre-fight press conference for the former world champion’s exhibition bout with his brother Logan Paul in June.

Mayweather had his hat stolen by Paul, who said “got ya hat” as he ran off, with a brawl ensuing backstage at the event afterward.

Paul then went on to mock Mayweather on social media, selling merchandise with the “got ya hat” phrase emblazoned upon it, and even got the phrase tattooed on his calf afterward.

Mayweather was incensed by Paul, with the 24-year-old now claiming that the retired boxer wanted to “kill” him due to the stunt.

Speaking on the FULL SEND podcast in September, Paul said: “He was trying to get me killed behind the scenes, for sure.

“He was calling, like, ‘the gangsters,’ because we were in Miami at the time. He was, like, calling the ‘street people,’ ’cause my security is tapped into the street people.

“They were like, ‘Yo, you guys gotta be f**king careful. He’s trying to do something.

“So, whatever the f**k that meant, or means… I was like, ‘Alright, if this is how I die, this is how I die.’”

No winner was declared when Mayweather fought his older brother in Miami in June, with the eight-round bout rounding off a card that also included Badou Jack.

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