The World Bank says about 79% of Nigerians are either poor or at risk of falling into poverty despite recent economic reforms. The finding appears in its new Country Partnership Framework for 2026–2032. While the reforms have improved key economic indicators, many families are yet to feel the benefits. The Bank estimates that 139 million Nigerians live below the national poverty line. It also says over 60 million people cannot meet their basic food needs.
According to the report, reforms introduced by President Bola Tinubu’s administration have helped stabilise the economy. These include fuel subsidy removal, exchange rate reforms, tighter monetary policy, and tax changes. Economic growth improved from 3.5% in early 2024 to 3.9% in the same period of 2025. Foreign reserves also climbed above $42 billion. However, the Bank warned that inflation continues to reduce household income. It said,
“High inflation, though declining, continues to erode real incomes, particularly for the poor. Social protection efforts to support the most vulnerable have been slow and uneven in their rollout.”
The Bank believes creating jobs is the fastest way to reduce poverty. Yet, millions of Nigerians still struggle to find decent work. About one in four young people is neither working nor in school or training. Also, only 14% of employed Nigerians have regular wage-paying jobs.
Most people work in low-income informal businesses. Over the next 10 years, another 60 million young Nigerians are expected to join the labour market. As a result, the Bank wants more investment in agriculture, small businesses, electricity, healthcare, education, and digital infrastructure.
The report also called for stronger social protection. Currently, only 8.5% of poor Nigerians receive support through safety-net programmes. The World Bank plans to help Nigeria build a better-targeted welfare system that could reach 41 million people. Speaking on the new strategy, World Bank Country Director for Nigeria, Mathew Verghis, said,
“The recent macroeconomic gains have been critical to help stabilise the economy. Translating improved macroeconomic conditions into better living standards will require addressing the structural constraints to spur private sector investment and job creation.”
The Bank added that sustaining reforms, improving governance, and creating quality jobs remain Nigeria’s best path to reducing poverty.
