The World Bank says about 139 million people, representing more than half of the country’s 232 million population, are living in poverty.
World Bank Country Director for Nigeria, Matthew Verghus, while commending the country’s structural reforms including fuel subsidy and introducing exchange rate controlling measures, says the country must translate gains made into improving livelihoods.
“Despite these stabilization gains, many Nigerians are still struggling. In 2025, we estimate that 139 million Nigerians live in poverty. The challenge is clear: how to translate reform gains into better living standards for all,” Verghus said at the launch of the Nigeria Development Update (NDU) report in Abuja.
Verghus also indicated that the bold reforms implemented have long-term positive projections as they have “laid the foundation for transforming Nigeria’s economic trajectory for decades to come.”
The Nigerian government has however rejected the report saying it needs to be “properly contextualized.”
Presidential Adviser on Media and Public Communication, Sunday Dare, in a post on X says the figure of 139 million was based on the global poverty line of $2.15 per person per day, established in 2017 using Purchasing Power Parity (PPP), and should not be interpreted as an exact count of Nigerians living in poverty.
“While Nigeria values its partnership with the World Bank and appreciates its contributions to policy analysis, the figure quoted must be properly contextualized. It is unrealistic,” Dare noted.
