The Presidency has rejected the World Bank’s recent report estimating that 139 million Nigerians are living in poverty, describing the figure as “unrealistic” and misaligned with local economic conditions.
In a statement released on Wednesday in Abuja, government officials said the World Bank’s assessment—based on the global poverty benchmark of $2.15 per day—fails to capture Nigeria’s evolving socio-economic context or the progress achieved under ongoing reforms.
According to the Presidency, the report overlooks key indicators showing that the economy is gradually stabilizing following policy measures such as fuel subsidy removal, foreign exchange unification, and increased investment in social welfare programmes.
“The methodology used by the World Bank applies a universal benchmark that does not fully account for Nigeria’s purchasing power, informal economy, or cost-of-living variations,” the statement noted. “While challenges remain, the claim that 139 million citizens live below the poverty line is not consistent with data from national surveys and government interventions.”
Officials emphasized that the government’s social investment and livelihood programmes are reaching millions of households across the country, citing initiatives under the Renewed Hope Agenda aimed at job creation, agricultural support, and conditional cash transfers to vulnerable groups.
The statement added that while the government acknowledges persistent economic hardship and rising food prices, it remains committed to broad-based recovery that ensures growth translates into improved living conditions for citizens.
“Nigeria’s economy is on a recovery path,” the Presidency said. “We are expanding welfare coverage, stabilizing key sectors, and implementing fiscal reforms that will deliver long-term relief and inclusive prosperity.”
The World Bank’s report, released earlier in the week, had warned that despite macroeconomic reforms, poverty levels in Nigeria remain high due to food inflation and weak social safety nets. The Presidency, however, maintained that such analyses must reflect domestic realities and the measurable progress being made to lift Nigerians out of poverty.
