The Presidency has dismissed claims that Nigeria’s poverty level has increased to 139 million, describing the figure as a “modelled global estimate” rather than an empirical representation of conditions in 2025.
The claim was reportedly based on the World Bank’s estimate of people living below the international poverty line of $2.15 per day.
“The estimate is derived from the global poverty line of $2.15 per person per day—a benchmark set in 2017 Purchasing Power Parity (PPP) terms,” Special Adviser to the President on Media and Publicity, Sunday Dare, said in a post on his official X handle on Thursday.
“If converted nominally, that figure equals about $64.5 per month, or nearly ₦100,000 at today’s exchange rate—well above Nigeria’s new minimum wage of ₦70,000. Clearly, the measure is an analytical construct, not a direct reflection of local income realities.”
The Presidency questioned the methodology used in assessing poverty, saying it often overlooks the informal and subsistence economies that sustain millions of households.
Dare emphasized that the government’s focus is on improving household welfare through targeted programs, including Conditional Cash Transfers (CCT), the Renewed Hope Ward Development Programme, and National Social Investment Programs.
“The government has implemented various initiatives aimed at alleviating poverty, including the distribution of subsidized grains and fertilizers, mechanization partnerships, and the revival of strategic food reserves.
“The government has also strengthened other components such as N-Power, GEEP micro-loans, and Home-Grown School Feeding to protect jobs, encourage small enterprise, and keep children in school,” Dare added.
The Presidency attributed the poverty challenge to long-standing structural distortions, including overdependence on imports, productivity constraints, and regional inequality.
Dare noted that reforms such as fuel subsidy removal, exchange rate unification, and fiscal redirection toward productive sectors are difficult but necessary choices to tackle the root causes of poverty.
The government remains optimistic about the future, with plans to ramp up investments in agriculture, MSMEs, and power reliability.
“Nigerians should begin to feel more visible improvements in food prices, income, and purchasing power as these programmes mature,” Dare noted.
Persecondnews recalls that on Wednesday despite Nigeria’s recent economic stabilization efforts, approximately 139 million citizens still live in poverty, according to the World Bank.
This alarming figure was highlighted by World Bank Country Director for Nigeria, Mathew Verghis, at the launch of the October 2025 Nigeria Development Update in Abuja.
The report noted that Nigeria’s economic reforms, although commendable, have not yet improved the living standards of ordinary Nigerians.
Verghis said that Nigeria’s bold reforms in the exchange rate and petroleum subsidy regimes are “foundational” steps that could reshape the country’s long-term economic trajectory.
“Over the last two years, Nigeria has commendably implemented bold reforms, notably around the exchange rate and the petrol subsidy,” Verghis said.
“These are the foundations on which the country has the opportunity to build a programme that can transform its economic trajectory.”
The reforms have already yielded positive results, including rising growth, increased revenues, and improving debt indicators.
However, the World Bank chief emphasized that these macroeconomic improvements have not translated into improved living conditions for ordinary Nigerians.
However, the World Bank chief emphasized that these macroeconomic improvements have not translated into improved living conditions for ordinary Nigerians.
“Despite these stabilisation gains, many households are still struggling with eroded purchasing power,” Verghis stated.
“Poverty, which began to rise in 2019 due to policy missteps and external shocks such as COVID-19, has continued to increase even after the reforms.”
The report estimates that 139 million Nigerians live in poverty, a significant increase from 87 million in 2023.
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