Tinubu rejects World Bank’s 139 million poverty estimate

‎The Presidency has challenged the World Bank’s recent report estimating 139 million Nigerians living in poverty, describing the figure as unrealistic and disconnected from the country’s economic realities. The government emphasized on current reforms aimed at reducing poverty and improving living standards.
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‎This figure marks a significant increase from 87 million recorded in 2023 and 129 million earlier in 2025. The report attributes rising poverty rates to inflation, high food prices, and weak job creation despite Nigeria’s pursuit of economic reforms like subsidy removal and exchange rate unification.
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‎Responding to the report, the Special Adviser on Media and Public Communication to the president, Sunday Dare, urged a contextual understanding of the figures.
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‎He explained that the World Bank’s poverty line of $2.15 per day, measured in purchasing power parity terms, translates to about N100,000 monthly, higher than Nigeria’s minimum wage of N70,000, thus inflating poverty estimates beyond the country’s economic conditions.
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‎The Presidency stressed on the expanded social welfare programmes designed to buffer vulnerable populations, including Conditional Cash Transfers reaching 15 million households, the Renewed Hope Ward Development Programme, and strengthened National Social Investment Programmes like N-Power and micro-loans. Additional developments are centered on food security, infrastructure investment, and affordable credit for small businesses.
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