The World Bank has identified Nigeria as one of 39 countries grappling with intensifying poverty and food insecurity driven by ongoing conflict and instability.
The findings, published in a comprehensive report released Friday, reveal that these 39 countries—spanning various continents and income brackets—have been disproportionately impacted by the aftermath of the COVID-19 pandemic and rising global insecurity.
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Among the nations highlighted are Afghanistan, Burkina Faso, Cameroon, Ethiopia, Libya, Mali, Nigeria, Sudan, Ukraine, and Zimbabwe. According to the Bank, 21 of these economies are currently embroiled in active conflicts.
The report stresses that poverty is deepening at an alarming rate in these countries, with a corresponding spike in hunger levels. Development goals have become increasingly elusive due to the deteriorating economic and social conditions.
The World Bank emphasized that the frequency and severity of conflicts have surged in the 2020s, causing these nations to lag significantly behind other developing economies in key development metrics. For instance, their average per capita GDP has declined by 1.8% annually since 2020, while other developing countries have recorded an average growth of 2.9% over the same period.
“This year, 421 million people are struggling on less than $3 a day in economies afflicted by conflict or instability—more than in the rest of the world combined,” the report said.
“That number is projected to rise to 435 million, or nearly 60% of the world’s extreme poor, by 2030.”
Indermit Gill, Chief Economist at the World Bank Group, highlighted the growing international focus on crises in Ukraine and the Middle East but stressed that Africa bears the brunt of these challenges.
“Yet, more than 70 percent of people suffering from conflict and instability are Africans. Untreated, these conditions become chronic,” Gill said.
“Half of the countries facing conflict or instability today have been in such conditions for 15 years or more. Misery on this scale is inevitably contagious.”
The report also pointed out that conflict-affected economies have failed to generate enough employment opportunities to match population growth, setting them apart from more stable developing countries.
Ayhan Kose, Deputy Chief Economist of the World Bank Group and Director of its Prospects Group, noted that economic stagnation has persisted in these countries for over 15 years.
“The global community must pay greater attention to the plight of these economies. Jumpstarting growth and development here will not be easy, but it can be done—and it has been done before,” he said.
According to Kose, with well-crafted policies and robust international support, these countries can overcome their challenges. He stressed that improving governance, fostering peace, and stimulating job creation are essential to reversing the current downward trajectory.
