World Bank Speaks On Tinubu’s Economic Reforms, “139 Million Nigerians Live in Poverty”
- The World Bank has rated the performance of President Bola Ahmed Tinubu’s economic reforms
- The Country Director of the World Bank in Nigeria, Mathew Verghis, said Tinubu's economic reforms have not reduced poverty in the country.
- Verghis mentioned the steps Tinubu's government should take to translate reforms into better living standards for Nigerians.
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
FCT, Abuja - The World Bank said 139 million Nigerians are living in poverty in 2025, despite President Bola Ahmed Tinubu’s economic reforms.
The Bretton Woods institution stated that Nigeria’s poverty rate remains alarmingly high, despite the expansion of the economy and revenue increase.
Source: Twitter
The Country Director of the World Bank in Nigeria, Mathew Verghis, also projected that Nigeria’s economy would grow by 4.4 percent in 2027.
As reported by Daily Trust, Verghis stated this while speaking in Abuja at the launch of the Nigerian Development Update.
The World Bank’s verdict is coming a few weeks after Tinubu declared that Nigeria has “turned the corner” on its economic and social challenges.
Verghis, however, said:
“So, these results are exactly what you need to see in a stabilisation. These are big achievements. However, despite these stabilisation gains, many Nigerians are still struggling. Most households are struggling with eroded purchasing power.
“In 2025, we estimate that 139 million Nigerians live in poverty. So, the challenge is clear: how to translate the gains from the stabilisation reforms into better living standards for all.”
The World Bank urged Tinubu’s government to reduce inflation, particularly food inflation.
Verghis called on the Nigerian government to ensure effective use of public funds and expand safety nets, to address the high rate of poverty and ensure that citizens enjoy the gains of reforms.
Source: Facebook
12 Gains of Tinubu’s Economic Reforms
Recall that presidential aide, Sunday Dare, listed 12 gains of President Tinubu’s economic reforms.
The special adviser on Media and Public Communication also said Nigeria’s economy was at a breaking point before May 2023.
Dare said Nigeria faced unsustainable fiscal practices, declining production, and rising poverty when Tinubu assumed office in 2023.
Read more stories on Tinubu's reforms:
- Billions Pouring In: How Tinubu's Reforms Are Supercharging Nigeria's Oil & Gas Sector
- Between Rhetoric and Reality: Tinubu’s Economy Boasts Ring Hollow Amidst Bloodshed
- Experts Weigh In on Tinubu’s Reforms and Policies Since Assuming Office
- Presidency Lists 4 Things Nigerians Need to Know as Non-Oil Revenues Power Strong Fiscal Performance
- Why Tinubu’s Reforms in Oil and Gas Regulation Are Worth Celebrating, Energy Group Explains
Kano Emir Sanusi rates Tinubu's reforms
In a previous story, Legit.ng reported that the Emir of Kano praised most of President Tinubu’s reforms, but also expressed concerns about certain economic policies.
Muhammad Sanusi II highlighted the need for the government to reduce excessive public spending and improve fiscal discipline.
The Emir also warned against a policy he described as harmful to local production and long-term economic growth in Nigeria.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
