The World Bank has revealed that a significant majority of Nigerians continue to face poverty challenges, with about 79 per cent of the population reportedly experiencing hardship despite economic reforms introduced by President Bola Tinubu’s administration.
According to the global financial institution, the country’s ongoing reforms, including efforts aimed at stabilizing the economy and improving growth prospects, have yet to translate into immediate relief for many households battling increased living costs.
World Bank noted that inflationary pressures, reduced purchasing power and broader economic difficulties have continued to affect millions of Nigerians, limiting the impact of government interventions.
The World Bank’s newly approved Country Partnership Framework for Nigeria (2026–2032) and accompanying Streamlined Country Diagnostic revealed that 61 per cent of Nigerians currently live below the poverty line, while 33 per cent are classified as ultra-poor and unable to meet their basic food needs.
The report highlighted the need for stronger policies focused on job creation, social protection programmes and inclusive economic growth to ensure that more citizens benefit from ongoing reforms.
It also added that while structural changes may support long-term economic recovery, addressing current vulnerabilities remains critical to reducing poverty and improving living conditions across the country.
The World Bank’s assessment comes amid continued public concerns over the economic impact of recent government policies and calls for measures that would provide greater support for struggling Nigerians.
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