World Bank: 139m Nigerians Still in Poverty Despite Reforms

ABUJA, Nigeria – The World Bank says about 139 million Nigerians remain in poverty despite ongoing government reforms.

At the launch of the Nigeria Development Update (NDU) in Abuja on Wednesday, Country Director, Mathew Verghis commended Nigeria’s “bold” policy steps on exchange rate unification and petrol subsidy removal, saying they lay the groundwork for future growth.

“Growth has picked up, revenues have risen, and inflation is easing, but millions still struggle,” Verghis said.

He noted that while macroeconomic indicators are improving, food inflation remains high and continues to hurt poor households. “Food inflation affects everyone, but especially the poor,” he warned.

Verghis urged the government to complement tight monetary policy with structural reforms to improve market efficiency and strengthen the nation’s safety nets.

“Reforms are necessary, but they must translate into better living standards,” he added.

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Mirian Gom

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Gom Mirian AHR Senior Correspondent, has over 8 years’ experience reporting on health, crime, education, investigations, and development issues across Nigeria and Africa. With dual degrees in Economics, she combines analytical skill with compelling storytelling. Widely recognised for her public health and humanitarian reporting, she earned a Nestlé Award nomination for compelling human-interest journalism. Follow her on Twitter @mirian_linus.

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