The World Bank has despite the over three years of sweeping economic reforms introduced by the President Bola Ahmed Tinubu-led administration, about 79 percent of Nigerians still remain poor or vulnerable to falling into serious poverty.
The position of the World Bank is contained in its newly approved Country Partnership Framework for Nigeria covering 2026 to 2032 and its accompanying Streamlined Country Diagnostic, which seriously assessed Nigeria’s economic performance and development challenges.
The Bank’s report stated that while the Tinubu’s reforms have helped improved macroeconomic indicators and stabilise the economy, it however, declared that 61 per cent of Nigerians presently live below the poverty line, with 33 per cent classified as ultra-poor and unable to meet their minimum food requirements.
The report further said; “Despite recent bold reforms stabilising the economy and laying the groundwork for the Renewed Hope Agenda, significant structural challenges remain.
“Economic growth increased from 3.5 per cent in the first half of 2024 to 3.9 per cent during the corresponding period of 2025. Foreign reserves have risen above $42 billion, fiscal deficits have narrowed and investor confidence has strengthened.
“However, the gains from the reforms have yet to translate into meaningful improvements in the living standards of most Nigerians. Thirty-three per cent of its population is ultra-poor (food insecure by age-weighted caloric intake), 61 per cent is below the poverty line, and 79 per cent is near poor (below the poverty line or vulnerable to falling back into poverty),” it stated.
