Nigeria Ranks 6th Most Miserable Country In The World.
March 31, 2019 Argentina, Iran, News Alert, Nigeria, Venezuela
Data compiled by Steve Hanke, an economist from John Hopkins University in Baltimore, USA, has shown that Nigerians are the sixth most miserable people in the world.
The misery index was calculated using economic indices including unemployment, inflation and bank lending rates.
For Nigeria, the unemployment rate was the major contributing factor.
“The original Misery Index was just a simple sum of a nation’s annual inflation rate and its unemployment rate. The Index has been modified several times, first by Robert Barro of Harvard and then by myself,” Hanke, the economist who compiled the list, said.
“My modified Misery Index is the sum of the unemployment, inflation and bank lending rates, minus the percentage change in real GDP per capita. Higher readings on the first three elements are “bad” and make people more miserable.
“These are offset by a “good” (GDP per capita growth), which is subtracted from the sum of the “bads.” A higher Misery Index score reflects a higher level of “misery,” and it’s a simple enough metric that a busy president, without time for extensive economic briefings, can understand at a glance.”
Venezuela, Argentina and Iran, the countries which topped the index, had high inflation rates as the major contributing factors.
In total, three African countries, Nigeria, South Africa and Egypt, fell between the top 10 most miserable countries.
Subsidy Palliatives
𝐒𝐔𝐁𝐒𝐈𝐃𝐘 𝐑𝐄𝐌𝐎𝐕𝐀𝐋: 𝐎𝐌𝐎'𝐎𝐁𝐀 𝐉𝐈𝐌𝐈 𝐎𝐃𝐈𝐌𝐀𝐘𝐎 𝐒𝐄𝐓𝐒 𝐓𝐎 𝐄𝐌𝐏𝐎𝐖𝐄𝐑 𝐂𝐎𝐍𝐒𝐓𝐈𝐓𝐔𝐄𝐍𝐓𝐒. In his continued dedication to prioritize the needs of the people, Hon. (Prince) Okunjimi Odimayo, the House of Representatives member for Okitipupa/Irele Federal Constituency, has finalized arrangements to provide relief assistance to his constituents. This effort is his way of mitigating the consequences of the fuel subsidy removal by alleviating the hardships faced by the people. The program is set to take place on the following details: Date: Sunday "15th October, 2023" Venue: Ode Irele Civic Centre Time: 12 PM". Hon. Prince Jimi Odimayo is unwavering in his commitment to fostering a sustainable future for the residents of Okitipupa/Irele Federal Constituency. Party Chieftains, Progressive families, beneficiaries, and other prominent figures are expected to grace the program. Victor Adedeji, Special Assistant on Media and Publicity to
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