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139 Million Nigerians Now Living in Poverty Despite Tinubu’s Reform Gains – World Bank

The World Bank has raised alarm that about 139 million Nigerians are currently living in poverty despite recent economic reforms, warning that the country risks losing hard-won gains if they do not translate into better living conditions for citizens.
The bank’s Country Director for Nigeria, Mathew Verghis, made this known on Wednesday in Abuja during the launch of the October 2025 Nigeria Development Update (NDU) report titled “From Policy to People: Bringing the Reform Gains Home.”
The biannual NDU report reviews Nigeria’s key economic indicators, reform outcomes, and major challenges. It highlights that while macroeconomic stability is improving, poverty and hardship among citizens continue to rise sharply.
Verghis praised the Nigerian government for implementing bold reforms in the exchange rate system and the petroleum subsidy regime, calling them “foundational steps” that could transform the economy’s long-term trajectory.
“Over the last two years, Nigeria has commendably implemented reforms that lay the foundation for a new economic direction,” he said.
“These measures are beginning to yield positive results growth is recovering, revenue has increased, and inflation is gradually easing.”
He compared Nigeria’s reform phase to India’s policy shift in the early 1990s, stressing that the country must seize this rare opportunity to ensure that the gains reach ordinary citizens.
Despite progress in macroeconomic stabilization, Verghis cautioned that most Nigerians have yet to feel any improvement in their daily lives.
“Many households are still battling eroded purchasing power,” he stated. “Poverty, which began to rise in 2019 due to policy missteps and shocks like COVID-19, has continued to grow. In 2025, we estimate that 139 million Nigerians live in poverty.”
This figure represents a significant jump from 129 million in April 2025 and 87 million in 2023, underscoring the worsening hardship faced by millions of families across the country.
The World Bank outlined three key priorities for Nigeria to convert its reform progress into tangible welfare improvements: reducing inflation, using public funds more efficiently, and expanding social protection for vulnerable citizens.
Verghis emphasized that tackling food inflation should be the central focus of Nigeria’s economic policy, warning that high food prices could undermine public support for ongoing reforms.
“Food inflation affects everyone, especially the poor,” he said.
“Persistently high prices could pressure the exchange rate and create a cycle of instability. Lower inflation will support growth and reduce interest rates.”
He also called for complementary structural reforms in agriculture and markets to fix deep-rooted inefficiencies that keep food prices high.
The World Bank urged the government to strengthen public financial management systems and ensure that every naira spent delivers measurable development results.
It also recommended expanding the national social safety net to protect the poorest households from the impacts of economic adjustments.
Verghis reaffirmed the bank’s commitment to supporting Nigeria through policy advice, financing, and technical assistance, but stressed that real progress depends on strong political will and inclusive governance.
“The challenge is clear: to turn macroeconomic gains into better livelihoods for all Nigerians,” he concluded.
The NDU event brought together government officials, private sector leaders, civil society, and development partners, who agreed that while Nigeria’s reform path shows promise, ensuring that benefits reach the people remains the true measure of success.
News
44 Federal Lawmakers Ask Tinubu to Order Nnamdi Kanu’s Release
Forty-four serving federal lawmakers have formally written to President Bola Ahmed Tinubu, urging him to use his constitutional powers to release detained IPOB leader Nnamdi Kanu.
The lawmakers, drawn from both northern and southern Nigeria, submitted a two-page letter and resolution under the banner of “Concerned Federal Lawmakers.”
They asked the President to activate a political solution by directing the Attorney-General of the Federation (AGF) to discontinue Kanu’s prosecution and convene a national dialogue involving key stakeholders.
The lawmakers argued that only a political process can address the long-running tensions surrounding Kanu’s case and help restore peace in the South-East.
They also referenced past negotiations between the Federal Government and other armed or agitating groups, insisting that Kanu’s case should not be treated differently.
The letter, signed by 44 members of the House of Representatives, includes lawmakers such as Ikenga Imo Ugochinyere, Obi Aguocha, Murphy Osaro, Peter Akpanke, Mudshiru Lukman, Paul Nnamechi, Sunday Cyriacus, Obed Shehu, Dominic Ifeanyi, Ugwu Emmanuel, Daniel Ago, Chike Okafor, Adam Ogene, Emeka Chinedu, Chimaobi Sam, Alex Mascot Ikwechegh, Donatus Matthew, Ibe Osonwa, Okey-Joe Onuakalusi, Thaddeus Atta, Udema Okonkwo, Cyril Godwin, Chinwe Nnabuike, Kana Nkemkama, Peter Aniekwe, Gwachem Maureen, Onwunka, Anayo Onwuegbu, Nwobosi Joseph, Amobi Godwin, Blessing Amadi, Anthony Adepoju, Joshua Gana, Chris Nkwonta, Emeka Idu, Peter Uzokwe, Matthew Nwogu, Tochukwu Okere, Benedict Etanabene, Godwin Offiono, Ngozi Okolie, and Nnamdi Ezechi.
The lawmakers stressed that several domestic court rulings and international tribunal decisions have favoured Kanu, and that public support for his release has grown significantly over the past years.
Their letter reads in part:
“Driven by the urgent need for national reconciliation and healing — and having noted the Federal Government’s open negotiations with militants and agitating groups in different parts of Nigeria — we respectfully request that Your Excellency directs the Attorney-General of the Federation to discontinue the prosecution of Mazi Nnamdi Kanu as soon as practicable.”
They also urged President Tinubu to initiate a constructive political dialogue following the discontinuance of the case.
The lawmakers expressed confidence that the move would reduce insecurity in the South-East and promote national stability.
They concluded by thanking the President for considering their request and pledged continued respect for the office of the President.
News
BREAKING: Wike-led PDP faction expels Makinde, Bode George, others
The Peoples Democratic Party (PDP) is facing a severe crisis, with a faction loyal to Minister Nyesom Wike expelling several high-ranking members, including Governors Seyi Makinde, Bala Mohammed, and Dauda Lawal, as well as former Chairman of the Board of Trustees Senator Adolphus Wabara and recently elected National Chairman Kabiru Turaki.
This move follows the controversial PDP national convention in Ibadan, where Wike and his loyalists were expelled from the party.
The expelled members are accused of anti-party activities, disobedience to court orders, and conduct bringing the party into disrepute.
The factional National Executive Committee also dissolved state executive councils in Oyo, Bauchi, Zamfara, Yobe, Lagos, and Ekiti States, directing caretaker committees and fresh congresses.
This crisis has sparked concerns about the party’s future, with some analysts describing it as “heading to Golgotha”.
The PDP’s internal conflicts have led to defections, weakened its opposition stance, and raised questions about its viability in future elections.
News
Wike-led faction takes over PDP national secretariat
The Peoples Democratic Party faction loyal to FCT minister Nyesom Wike has taken over the party’s national secretariat, Wadata Plaza, Abuja.
The takeover of the party’s secretariat was reportedly ahead of a parallel meeting scheduled for the same venue by the faction that held its national convention in Ibadan over the weekend.
Samuel Anyanwu, National Secretary of the pro-Wike faction, arrived at the secretariat with some members of his group.
Shortly after, members of the Taminu Turaki-led faction also arrived but were blocked from entering.
Reports indicate that two governors from the Turaki faction forced their way into the building.
Security operatives responded by firing gunshots and releasing teargas to disperse remaining members, triggering panic and confusion as attendees scrambled for safety.
While speaking to newsmen before the arrival of the Turaki faction, Anyanwu described the security presence as routine, aimed at maintaining order during Board of Trustees (BoT) and National Executive Committee (NEC) meetings. He confirmed that his faction was prepared to hold the meetings as scheduled
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