The Presidency has rejected the World Bank’s report estimating that 139 million Nigerians live in poverty, describing the figure as “unrealistic” and disconnected from current economic realities.
President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, said on Thursday that the figure must be “properly contextualised” within global poverty measurement models.
He explained that the estimate is based on the $2.15 global poverty line set in 2017 using Purchasing Power Parity (PPP), which, when converted, equals about ₦100,000 per month—above Nigeria’s new ₦70,000 minimum wage.
“The World Bank’s number is an analytical construct, not a real-time headcount,” the Presidency noted, adding that the model relies on outdated consumption data from 2018/2019 and overlooks Nigeria’s large informal economy.
The government said the World Bank’s figure should be seen as a global projection, not an accurate reflection of present conditions, stressing that Nigeria’s economy is now on a path of recovery and inclusive reform.
“Our focus remains on empowering households, expanding opportunities, and ensuring growth translates into better living standards,” Dare added.
The World Bank’s Nigeria Development Update (NDU) released on Wednesday stated that 139 million Nigerians still live in poverty despite ongoing reforms, while acknowledging the government’s efforts to stabilise the economy.
