Despite recent economic reforms that have boosted government revenues, about 139 million Nigerians are still living in poverty, the World Bank has said.
Country Director of the Bank in Nigeria, Mathew Verghis, disclosed this at the launch of the Nigeria Development Update (NDU) in Abuja yesterday.
Verghis said although the economy has recorded significant stabilisation gains, including improved revenues, rising reserves and easing inflation, most households are yet to feel the impact.
“Nigeria’s economic growth has picked up, revenues are rising, debt indicators are improving, the foreign exchange market is stabilizing, reserves are rising, and inflation is beginning to ease.
“These are big achievements. However, despite these stabilization gains, many Nigerians are still struggling. In 2025, we estimate that 139 million Nigerians live in poverty,” he said.
He noted that poverty levels, which began to rise in 2019 due to policy missteps and external shocks such as COVID-19, have continued to increase even after the recent reforms.
