Nigeria's Poverty Remains High Despite Reforms, World Bank Reports

A World Bank Country Partnership Framework for Nigeria (2026‑2032) finds that about 79 % of Nigerians are near‑poor, with 33 % classified as ultra‑poor and 61 % living below the poverty line. Roughly 139 million people are below the national poverty threshold, especially in the north, while over 86 million lack electricity and millions of youths enter a weak labour market each year.

The report notes that recent macro‑economic reforms by the Tinubu administration—petrol subsidy removal, exchange‑rate liberalisation, tighter monetary policy and tax changes—have stabilised the economy, raising growth from 3.5 % to 3.9 %, expanding foreign reserves above $42 billion and narrowing fiscal deficits. However, high inflation continues to erode real incomes, and social‑protection programmes remain uneven.

To reduce poverty, the framework will prioritise job creation in labour‑intensive sectors such as agriculture and MSMEs, and address structural gaps in electricity, digital infrastructure, education and health. Sustained macro‑fiscal and structural reforms are deemed essential for translating macro‑stability into improved living standards.