The Presidency has dismissed a recent World Bank report estimating that 139 million Nigerians live in poverty, labeling the figure “unrealistic” and disconnected from the country’s economic realities. In a statement posted on Wednesday via his official X handle, President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, argued that the poverty estimate, based on the global poverty line of $2.15 per day set in 2017, requires proper contextualization and does not reflect actual living conditions in 2025.
Dare clarified that the $2.15 benchmark, equivalent to approximately ₦100,000 monthly at current exchange rates, exceeds Nigeria’s new minimum wage of ₦70,000, making it an analytical construct rather than a literal headcount. He noted that the World Bank’s methodology, relying on 2018/19 consumption data, overlooks Nigeria’s informal and subsistence economies that sustain millions of households. “The government regards the figure as a modeled global estimate, not an empirical representation of conditions in 2025,” Dare stated, emphasizing Nigeria’s trajectory of recovery and inclusive reform.
The Presidency highlighted several initiatives under Tinubu’s administration to address poverty, including expanded Conditional Cash Transfers reaching 15 million households with over ₦297 billion disbursed since 2023, the Renewed Hope Ward Development Programme targeting 8,809 electoral wards, and strengthened National Social Investment Programmes like N-Power and GEEP micro-loans. Food security measures, such as subsidized grains and fertilizer distribution, and the Renewed Hope Infrastructure Fund for energy, roads, and housing were also cited as efforts to lower living costs and boost employment.
Dare defended structural reforms like fuel subsidy removal and exchange rate unification as “painful but necessary” to address poverty’s root causes. He referenced World Bank acknowledgment of Nigeria’s macroeconomic stability, with rising revenues, improving debt indicators, and easing inflation. However, the Presidency stressed that economic recovery must translate into tangible welfare gains, with ongoing investments in agriculture, manufacturing, and power reliability aimed at improving food prices and purchasing power.
The statement came in response to the World Bank’s October 2025 Nigeria Development Update, where Country Director Mathew Verghis commended Nigeria’s reforms but warned that 139 million citizens live in poverty, up from 129 million in April 2025. Verghis cautioned that without translating reforms into improved living conditions, Nigeria risks losing reform gains. The Presidency countered by reaffirming Tinubu’s commitment to a resilient, inclusive economy, rejecting “exaggerated statistical interpretations” and focusing on empowering households for a prosperous future.
