Nigeria 139 million poverty despite reforms

Nigeria 139 million poverty despite reforms

Nigeria now has an estimated 139 million people living in poverty, despite recent economic reforms.

The World Bank report notes that while reforms such as subsidy removal, exchange rate changes, and tax adjustments have strengthened macroeconomic stability, many Nigerians have not yet seen improvements in their daily lives. Inflation—especially food inflation—has eroded purchasing power, making necessities unaffordable for many households.

The poverty rate is now projected at around 61 percent for 2025. This is a rise from earlier years; for example, in 2023 about 87 million people were estimated to be in poverty.

Rural areas are hardest hit. The latest data shows 75.5 percent of Nigerians in rural communities live below the poverty line. Urban poverty is also serious, though lower, with about 41.3 percent of urban dwellers in poverty under the same measurements.

The report cautions that unless reforms produce real benefits for ordinary people—through lower inflation, better public spending, and more robust safety nets—poverty could deepen further.