Despite nearly three years of sweeping economic reforms introduced by President Bola Tinubu’s administration, about 79 per cent of Nigerians remain poor or vulnerable to falling into poverty, according to a new World Bank report.
The findings are contained in the World Bank’s newly approved Country Partnership Framework for Nigeria covering 2026 to 2032 and its accompanying Streamlined Country Diagnostic, which assessed Nigeria’s economic performance and development challenges.
According to the report, 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 minimum food requirements.
The World Bank said, “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).”
The report reviewed the major economic reforms introduced by President Tinubu
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