Hardship: Concerns as World Bank Says 139 Million Nigerians Living in Poverty
- The World Bank has disclosed that despite reform gains, no fewer than 139 million Nigerians are still living in poverty
- The bank called on Nigeria to ensure that the positive outcomes from its recent reforms translate into real improvements in citizens’ living standards
- Country Director for Nigeria, Mathew Verghis, said this during the launch of the latest Nigeria Development Update (NDU) report in Abuja
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public affairs and governance.
FCT, Abuja - Amid economic hardship in Nigeria, the World Bank has revealed that about 139 million Nigerians are currently living in poverty.
Legit.ng reports that this is just as the bank said the country’s economy has started to show signs of stability from ongoing reforms under President Bola Tinubu.
Source: Twitter
World Bank speaks on poverty in Nigeria
As reported by Daily Trust, speaking at the launch of the Nigeria Development Update (NDU) report in Abuja on Wednesday, October 8, Mathew Verghis, the World Bank country director for Nigeria, commended the government for implementing bold economic reforms but warned that the benefits have yet to reach most citizens.
Vanguard quoted Verghis as saying:
“In 2025, we estimate that 139 million Nigerians live in poverty. The challenge is clear: how to translate the gains from the reforms into better living standards for all.”
Furthermore, Verghis reaffirmed the World Bank’s commitment to supporting Nigeria’s reform agenda through policy advice, technical assistance, and financial support aimed at fostering sustainable development and shared prosperity.
The new NDU report, titled 'From Policy to People: Bringing the Reform Gains Home,' outlines a three-point agenda for sustaining progress, reducing inflation, improving the efficiency of public spending, and expanding social safety nets.
World Bank's disclosure: Nigerians react
Meanwhile, the World Bank's disclosure has elicited reactions among Nigerians on X.
Legit.ng captured some comments below:
@Youthinprocess said:
"139m Nigerians in poverty isn’t just data, it’s a verdict on governance we all shaped. Policies mirror ballots. When citizens withdraw, corruption multiplies. True reform starts at polling units, not podiums; apathy is our biggest tax."
@lawgarbadaniel said:
"What an irony — the World Bank praises Nigeria’s reforms as “gains,” yet reports that 139 million Nigerians now live in poverty. Growth on paper means nothing if it doesn’t reflect in people’s lives."
Okoro Amaechi Simeon wrote:
"They are embezzling the gains. That's the government we finds ourselves. @officialABAT please reform your Cabinet too with People with integrity and fear of God."
@Umarwasp said:
"What's the point of reforms if food is unaffordable, jobs are scarce, electricity is unreliable, and basic healthcare is a luxury? What kind of progress is that? We indeed in deep mess in Nigeria, no one can safe us buh Almighty."
Ex-NBS chief speaks on poverty rate
Earlier, Legit.ng reported that Yemi Kale, former statistician-general of the National Bureau of Statistics (NBS), said approximately 89 million people, or 40 percent of Nigeria’s population, live below the poverty line.
Kale, currently the group chief economist and managing director of research and trade intelligence at Afreximbank, said Nigeria is the country with the second-highest number of poor people globally after India.
Source: Legit.ng
