The World Bank’s October 8, 2025, report estimates that 139 million Nigerians, or 60% of the population, live in poverty. The latest report indicates an increase from 87 million in 2018, as President Bola Tinubu’s economic reforms stabilize finances but exacerbate hardships via inflation and subsidy removals.
Meanwhile, the federal government has rejected the report of the World Bank dismissing it as citing outdated metrics.The Nigerian government rejects the figure as unrealistic pointing to achievements like increased revenues and foreign reserves exceeding $40 billion. Critics highlight ongoing rural struggles and call for stronger social safety nets amid public frustration.