Nigeria Ranks Third In Country With Poorest People

The gloomy economic prospect in the country is real as Nigeria has been ranked as the third poorest nation in the world.

The ranking is contained in the annual global wealth report compiled by the Swiss bank, Credit Suisse.

The report puts 35 million Nigerians among the poorest people in the world, after China’s 72 million while India tops the list with 246 million people.

Other countries with considerable poor people are Russia with 28 million of the world’s poorest, Ukraine with 25 million and the United States with 21 million.

In the report published on DPA website, many of the world’s richest and poorest people live in Asian countries, highlighting the unequal distribution of wealth.

There are an estimated 33 million people in the world who own between 1 million and 50 million dollars, known in the banking industry as high-worth individuals.

Wealthy people in the United States make up 45 per cent in this group – the largest regional share, followed by 30 per cent of Europeans.

Countries in the Asia-Pacific region account for 18 per cent, excluding India and China.

With 1.6 million such millionaires, communist China fields 5 per cent of the total.

The club of so-called ultra-high net worth individuals who own more than 50 million dollars includes some 140,900 people.

China is home to 11,000 super-rich people, ranking second place after the United States with 70,400. Germany comes third with 6,100 people belonging to this exclusive club.

With an average net worth of 500,000 dollars per adult, the Swiss are the world’s richest people, 11 times wealthier than the average world citizen.

The people of Switzerland make up only 0.1 per cent of the global population, but they own 1.4 per cent of the world’s assets.

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