World Bank Report: 139 million Nigerians Trapped in Poverty Despite Tinubu’s Reforms — Experts Question Poverty Benchmark

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The latest Nigeria Development Update by the World Bank has revealed that 139 million Nigerians—about 62% of the population—are still living in poverty, despite recent economic reforms introduced by President Bola Ahmed Tinubu’s administration.

The report, released in October 2025, highlights that while GDP growth has risen to 3.4% and government revenue has increased due to fuel subsidy removal and exchange rate unification, high food inflation above 40% and unemployment near 35% continue to cripple household welfare.

The World Bank estimates poverty based on a $3.65 daily consumption threshold, identifying rural poverty at 75.5% and urban poverty at 31%, indicating that the economic reforms have yet to significantly improve living standards for millions of Nigerians.

However, the Presidency has dismissed the report, describing the figures as “unrealistic and disconnected from Nigeria’s economic realities.” Presidential spokesperson Bayo Onanuga emphasized that the government’s Renewed Hope Agenda is driving positive change, pointing to rising foreign reserves ($40 billion) and cash transfer programs targeting 15 million vulnerable households.

Meanwhile, financial expert Kalu Aja criticized the methodology used in defining poverty in Nigeria.
He noted that, according to the 2018/19 Nigerian Living Standards Survey (NLSS) by the National Bureau of Statistics (NBS), anyone whose annual consumption exceeds ₦137,430—or roughly ₦381 per day—is not classified as poor.

“How many Nigerians do you know who spend less than ₦138,000 a year? That’s ₦381 a day. This is how statistics can be used to argue a clearly faulty point,” Aja wrote on X (formerly Twitter), calling the metric outdated and misleading.

Economic analysts warn that while structural reforms are essential, their short-term impact has deepened inequality, with millions struggling to meet basic needs like food, housing, and energy.

As inflation continues to outpace income growth, experts insist that true recovery will depend on targeted social investments, job creation, and transparent poverty data that reflects current realities.