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New Report Says Over 91m Nigerians Are Now Living In Extreme Porverty

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According to a new report by the World Poverty Clock, a Vienna-based data lab, over 91 million Nigerians are now living in extreme poverty, and at least three million Nigerians have slipped into extreme poverty between November 2018 and February 2019.

According to the report, 91.16 million Nigerians were living below a dollar a day as of February 13, 2019. Recall that in June 2018, the Brookings Institution projected that Nigeria had overtaken India as the poverty capital of the world, with 86.9 million extremely poor people.

This was further confirmed by British Prime Minister, Theresa May, who said Nigeria had become home to the largest number of very poor people in the world, putting the figures at 87 million.

“Much of Nigeria is thriving, with many individuals enjoying the fruits of a resurgent economy, yet 87 million Nigerians live below $1 and 90 cents a day, making it home to more very poor people than any other nation in the world,” Prime Minister May had said.

Since May made this observation in South Africa in August, the number of Nigerians living in extreme poverty has grown to 91.16 million, with six people falling into poverty every minute, according to Brookings Institution. Today, India has 48.7 million people living in poverty, from 73 million in June 2018. By implication, India has pulled out a minimum of 24 million people from poverty in less than eight months.

According to the World Bank, a person can be said to be living in extreme poverty, if he or she lives below the poverty line of $1.90 or N693.5 per day. The bank in its explanation of poverty levels said “when estimating poverty using monetary measures, one may have a choice between using income or consumption as the indicator of well-being. “Most analysts argue that, provided the information on consumption obtained from a household survey is detailed enough, consumption will be a better indicator of poverty measurement than income.”

However, using the World Bank’s poverty line, if you live below $1.90 a day, you will be classified as living in extreme poverty.

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5th Bodex Social Media Hangout: Exploring the power influence and impact of digital platforms

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The 5th edition of the Bodex Social Media Hangout (BSMH) unfolded in grand style, spotlighting the transformative power of social media in shaping narratives, fostering collaboration, and addressing societal challenges.

With the theme “Social Media: The Influence, Power, and Impact,” the event attracted dignitaries, influencers, and stakeholders from across various sectors.

The event was moderated by the visionary Bodex Florence Hungbo, who guided the discussions with her signature poise and depth. Representing Governor Babajide Sanwo-Olu, Dr. OreOluwa Finnih, S.A. on SDG who delivered a keynote address on behalf of the governor, who was on an official trip.

The presence of Dr. OreOluwa Finnih highlighted the Lagos State Government’s commitment to leveraging social media as a tool for growth and societal well-being.

The Bodex Social Media Hangout is a distinguished media talk-shop fostering collaboration among social media users, professionals, and stakeholders.

Focused on promoting responsible digital citizenship, BSMH aligns with the United Nations Sustainable Development Goals (SDG 3) to enhance the well-being of users and encourage cultural and societal advancements through social media.

The event emphasized the urgent need for Nigeria to address challenges such as fake news, cyberbullying, and online harassment.

A recent survey by The Guardian Nigeria revealed that 86% of Nigerians have encountered fake news, reflecting the pervasive influence of misinformation on social stability.

Additionally, issues like mental health threats, cybercrime, and privacy concerns were discussed as critical challenges requiring immediate attention.

Through its sessions, the event showcased how social media has become a powerful tool for fostering awareness, driving economic growth, and promoting cultural exchange.

Speakers and panelists also examined the darker side of digital platforms, including the rise of cyberbullying, mental health issues, and the spread of divisive content.

The event featured an impressive lineup of speakers and panelists who provided unique perspectives on the influence, power, and impact of social media:


Dotun Babatunde – The Impact of AI on Social Media

Dotun Babatunde explored the transformative role of Artificial Intelligence in the social media landscape, emphasizing its impact on the “attention economy.”

He remarked, “We live in an attention economy, where human attention is a scarce commodity.”

Babatunde explained how AI-driven algorithms prioritize engagement, often amplifying sensational content, but also creating opportunities for personalized and meaningful interactions. He encouraged users and creators to approach AI with a balanced perspective, recognizing both its potential and pitfalls.

A/Prof Tayo Popoola Ph.D. – Social Media: The Influence, Power, and Impact

Associate Professor Tayo Popoola from the Department of Mass Communication, University of Lagos, provided a thought-provoking analysis of social media’s role in society.

He stated, “Social media is a double-edged sword: it empowers the voiceless but also creates spaces for misinformation and toxicity.

The challenge lies in managing its influence responsibly.” Prof. Popoola underscored the importance of digital literacy in enabling users to harness the benefits of social media while mitigating its negative impacts.

Akin Olaniyan – Navigating the Social Media Age: Clout, Influence, and the Ethics of the Attention Economy

Akin Olaniyan delivered a compelling critique of clout-chasing in the social media era. He commented, “Give any moron a smartphone, and anything and everything becomes content.

To such a fellow, clout-chasing is an end in itself, and the smartphone just makes it super-easy.” Reflecting on the quality of content creation, he added, “I am tempted to believe that their choice of subjects reflects their intellect, with the more empty-headed being the most daring.” Olaniyan called for ethical standards in digital content creation and urged society to value substance over virality.

ACP Olumuyiwa Adejobi – The Digital Detective: Solving Crimes in the Social Media Age

The Force Public Relations Officer, ACP Olumuyiwa Adejobi, showcased how social media has revolutionized law enforcement.

He stated, “Social media is not just a platform for entertainment; it’s a valuable tool for law enforcement. By leveraging the power in the mass number of social media active users, we can solve more crimes and make our communities safer.” Adejobi shared examples of cases solved through digital platforms and emphasized the need for digital-savvy officers to maximize this potential.

In addition to the keynote speakers, the panelists brought fresh insights and diverse expertise to the event. Notable contributors included:


Olufemi Oguntamu, CEO of Penzaarville Africa.


Tomiwa Talabi, Founder/CEO of Lagos Life Influencer.


Dayo Oketola, Author, PR Consultant, and Former Editor at The Punch.


Iyabo Ojo, Actress, Filmmaker, and Influencer.

Hosted by celebrated media personality Frank Edoho, the event featured workshops, live sessions, and networking opportunities, creating an interactive atmosphere for attendees. Discussions covered a range of topics, from personal branding and content creation to the role of digital platforms in fostering community and enhancing security.

The panelists emphasized the power of social media in amplifying voices, holding leaders accountable, and fostering a sense of global connection. However, they also called attention to the darker aspects of the digital world, advocating for measures to combat negativity and promote a safer online environment.

Dr. OreOluwa Finnih reaffirmed the Lagos State Government’s vision of creating a digital ecosystem that promotes economic growth, cultural exchange, and societal well-being. The event’s mission remains clear: to foster collaboration, combat negativity, and shape Nigeria’s digital landscape for the better.

The Bodex Social Media Hangout remains a leading force in shaping Nigeria’s digital landscape.

In the words of Bodex Florence Hungbo: “Social media is the new oil well, Let us go fetch it.”

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Photos From Star Studded Bodex Social Media Hangout

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Saturday 7th of December was an iconic day in the Nigerian social media space as a glittering array of stars, celebrities, practitioners, social media enthusiast, stakeholders and security agencies gathered at Landmark Centre, Lagos for the Bodex Social media Hangout 5.0.

Below are photos from the just concluded BSMH:

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Iyabo Ojo, Brainjotter, Dayo Oketola, Penzaarville, Tomiwa and others to speak at the Bodex Social Media Hangout 5.0

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The Bodex Social Media Hangout (BSMH) is excited to unveil an impressive lineup of speakers for its highly anticipated 5th edition, themed “SOCIAL MEDIA: THE INFLUENCE, POWER AND IMPACT.”

This year’s event promises to be a knowledge-packed and inspiring experience, featuring industry leaders, influencers, and thought-provoking discussions.

The BSMH 5.0 will feature a diverse range of speakers, each bringing their unique expertise to the stage:

Iyabo Ojo: A renowned Nollywood actress, producer, influencer, and director, will share insights into the power of social media in shaping careers and connecting with fans.

Brainjotter: A popular Nigerian comedian and content creator, Brainjotter will discuss the strategies behind creating viral content and building a strong online presence.

Dayo Oketola: An Author, PR Consultant & Former Editor, The PUNCH, will delve into the latest trends in digital marketing and how businesses can leverage social and digital media to drive growth.

Penzaarville: A creative agency specializing in digital marketing and branding, will share their expertise on effective social media marketing strategies.

Tomiwa: A social media influencer and content creator, will discuss the challenges and opportunities of navigating the social media landscape.

The BSMH 5.0 promises an extravaganza beyond the keynote addresses.

Attendees can expect awards presentations, live music and dance performances, thrilling games and giveaways, and a delectable spread of food and drinks by Bodex Foods and other top vendors.

This year also introduces exciting new features like multiple raffles and giveaways with incredible prizes.

The Bodex Social Media Hangout 5.0 is a free event open to all, with no registration required.

Don’t miss this opportunity to be part of a historic celebration, gain insights from industry leaders, and witness the power of social media firsthand.

Mark your calendars!
Date: Saturday, December 7th, 2024
Time: 10am
Location: Landmark Event Center, Oniru, Victoria Island, Lagos

For the latest updates and information about the BSMH 5.0, follow us on social media:

  • Instagram: @bsmhangout1
  • Twitter: @bsmhangout1
  • Facebook: @bsmhangout1
  • Telegram: @bsmhangout1

Media Contact:
info@bsmhangout.com
bodexmedia@gmail.com
Phone: 08088805275, 08077777011

Join us for the BSMH 5.0 and let’s explore the power and impact of social media together!

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