The World Bank has said that despite more than three years of economic reforms under President Bola Ahmed Tinubu’s administration, about 79 per cent of Nigerians remain either below the poverty line or vulnerable to falling into poverty.
The assessment is contained in the Bank’s newly approved Country Partnership Framework (CPF) for Nigeria (2026–2032) and its accompanying Streamlined Country Diagnostic, which reviewed the country’s economic performance and development challenges.
According to the report, while the administration’s reforms have helped stabilise key macroeconomic indicators and strengthened the foundations of the economy, the benefits have yet to translate into improved living standards for most Nigerians.
The World Bank said 61 per cent of the population currently lives below the poverty line, while 33 per cent are classified as ultra-poor and unable to meet their minimum food requirements.
The report noted that Nigeria recorded improvements in several economic indicators, with growth rising from 3.5 per cent in the first half of 2024 to 3.9 per cent during the corresponding period of 2025. It also cited an increase in foreign reserves to over $42 billion, narrower fiscal deficits and improved investor confidence.
However, the Bank warned that the country’s structural challenges remain significant.
“Despite recent bold reforms stabilising the economy and laying the groundwork for the Renewed Hope Agenda, significant structural challenges remain,” the report stated.
It added that although the reforms have created greater macroeconomic stability, they have not yet delivered broad-based improvements in household welfare.
The report stated: “Thirty-three per cent of the 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 findings underscore the challenge facing policymakers to ensure that economic reforms translate into inclusive growth, job creation and tangible improvements in the living conditions of ordinary Nigerians.
