Sahara News
Breaking News in Nigeria and World wide

JUST IN!!! Nigerians Now The 6th Most Miserable People In The World – See Report/Photo

SAHARANEWS – Report 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.

SaharaNews gathered that 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.

ALSO READ:  BREAKING: Prince Tonye Princewill , a Governor aspirant in APC in Rivers State just Resigned his Membership of APC over Muslim- Muslim Ticket.

“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.”

ALSO READ:  JUST IN: "Disregard IPOB", Presidency Urges Nigerians, Says Buhari Is In Japan

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.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

error: Content is protected !!