Despite recent economic reforms and rising government revenues, poverty levels in Nigeria remain alarmingly high, the World Bank has said.
According to the Bretton Woods institution, an estimated 139 million Nigerians—more than half of the country’s population—are still living in poverty in 2025, despite the expansion of the economy under President Bola Ahmed Tinubu’s administration.
Speaking in Abuja at the launch of the latest Nigeria Development Update (NDU), the World Bank Country Director for Nigeria, Mathew Verghis, said that while economic indicators show modest improvement, “the benefits of growth are not yet translating into better living conditions for most Nigerians.”
“Nigeria’s economy has expanded, and revenues have increased in recent quarters, but poverty remains widespread. The impact of the reforms has not fully reached the poor and vulnerable households,” Verghis stated.
He noted that inflation, high food prices, and weak purchasing power continue to erode household incomes, pushing more Nigerians below the poverty line despite the government’s fiscal and monetary interventions.
The report also projected that Nigeria’s economy will grow by 4.4 per cent in 2027, driven largely by reforms in the oil and gas sector, improvements in tax administration, and renewed foreign investment confidence.
However, the World Bank warned that the country’s progress would remain fragile without targeted social protection measures investment in human capital and inclusive policies that directly address inequality and unemployment.
The Nigerian Development Update is a biannual World Bank publication that assesses the country’s economic performance and policy direction.
