Presidency Rejects World Bank’s Poverty Report, Says 139m Figure ‘Unrealistic’
ABUJA: The Presidency has dismissed a new World Bank report estimating that 139 million Nigerians are living in poverty, describing the figure as unrealistic and detached from the country’s economic realities.
In a statement on Wednesday, President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, said while Nigeria values its partnership with the World Bank, the global lender’s poverty estimates must be properly contextualized.
The figure is based on a global poverty line of $2.15 per person per day set in 2017 under the Purchasing Power Parity model. It’s not an actual headcount of poor Nigerians,” Dare explained.
The Presidency argued that when adjusted to current exchange rates, the World Bank benchmark translates to about ₦100,000 per month, far above Nigeria’s ₦70,000 minimum wage, making it a theoretical model rather than a true reflection of living standards.
It added that the figures rely on outdated consumption data and ignore the informal and subsistence sectors that sustain millions of Nigerians.
Highlighting ongoing reforms, the statement listed several social intervention programmes, including Conditional Cash Transfers reaching 15 million households, the Renewed Hope Ward Development Programme, and initiatives such as TraderMoni, FarmerMoni, and the Home-Grown School Feeding Scheme.
The Presidency said these measures, alongside infrastructure financing, credit expansion, and food security initiatives, demonstrate the government’s resolve to tackle poverty at its roots through structural reforms.
Nigeria rejects exaggerated statistical interpretations detached from local realities. The administration remains focused on empowering households, expanding opportunities, and building a fairer economy, it stated.
Meanwhile, the World Bank maintained that despite reforms, poverty has deepened, with 139 million Nigerians now living below the global poverty line up from 129 million in April 2025.
Opposition parties and labour unions also faulted the government’s response, saying economic hardship, inflation, and weak purchasing power continue to worsen living conditions despite reform gains.
