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By Prosper Olayiwola

The Presidency has challenged the latest economic report from the World Bank, which estimated that 139 million Nigerians live in poverty.

The government described the figure as “unrealistic” and disconnected from the country’s actual economic conditions.
President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, stated on his official X account on Thursday that the poverty statistics need to be “properly contextualised” within the framework of global poverty measurement models.
“While Nigeria values its partnership with the World Bank and appreciates its contributions to policy analysis, the figure quoted must be properly contextualised. It is unrealistic,” Dare said.
The Presidency clarified that the figure of 139 million was based on the global poverty line of $2.15 per person per day, established in 2017 using Purchasing Power Parity (PPP), and should not be interpreted as an exact count of Nigerians living in poverty.

It pointed out that, when converted to local currency, the $2.15 daily poverty line equals roughly ₦100,000 per month, well above Nigeria’s new minimum wage of ₦70,000.

“There must be caution against interpreting the World Bank’s numbers as a literal, real-time headcount. The estimate is derived from the global poverty line of $2.15 per person per day, a benchmark set in 2017 Purchasing Power Parity terms. If converted nominally, that figure equals about $64.5 per month, or nearly N100,000 at today’s exchange rate, well above Nigeria’s new minimum wage of N70,000. Clearly, the measure is an analytical construct, not a direct reflection of local income realities.
“Poverty assessment under PPP methodology uses historical consumption data (Nigeria’s last major survey was in 2018/19) and often overlooks the informal and subsistence economies that sustain millions of households. The government, therefore, regards the figure as a modelled global estimate, not an empirical representation of conditions in 2025. What truly matters is the trajectory, and Nigeria’s is now one of recovery and inclusive reform,” the statement noted.

Dare maintained that poverty estimates based on the PPP methodology depend heavily on historical consumption data and often fail to capture the extensive informal and subsistence economies that support millions of Nigerian households.
Consequently, the government views the World Bank’s estimate as “a modelled global projection, not an empirical reflection of living conditions in 2025.”

He emphasized that the focus should not be on static poverty figures but on the overall direction of change. According to him, Nigeria’s economy is now on a path of recovery and reform, guided by policies aimed at fostering inclusive growth and strengthening social protection.

The Presidency also noted that the current administration has expanded several welfare and intervention programmes to cushion the impact of recent reforms, while laying the foundation for long-term economic prosperity.

Sunday Dare outlined several key initiatives being implemented by the Tinubu administration to combat poverty and support vulnerable populations: “Conditional Cash Transfers: Expanded to reach up to 15 million households nationwide, with verified digital enrolment through the National Social Register. Over N297 billion has been disbursed since 2023 to poor and vulnerable families. Renewed Hope Ward Development Programme: A major new initiative targeting all 8,809 electoral wards, delivering micro-infrastructure, livelihoods, and social services directly at the community level.
“National Social Investment Programmes: Strengthened components such as N-Power, GEEP micro-loans (TraderMoni, MarketMoni, FarmerMoni), and Home-Grown School Feeding to protect jobs, encourage small enterprise, and keep children in school. Food Security Initiatives: Distribution of subsidised grains and fertilisers, mechanisation partnerships, and the revival of strategic food reserves to curb inflationary pressure on staples.

“Renewed Hope Infrastructure Fund: Financing critical energy, road, and housing projects to lower living costs and stimulate local employment, National Credit Guarantee Company: Expanding affordable credit to small businesses, women, and youth entrepreneurs through risk-sharing mechanisms with commercial banks.”
The Presidency maintained that the Tinubu administration is addressing Nigeria’s poverty challenge by confronting the structural distortions that have hindered productivity and inclusive growth for decades.

“World Bank’s assessment must understand the long-standing structural distortions that this administration is actively correcting — including overdependence on imports, productivity constraints, and regional inequality.
“Reforms such as fuel subsidy removal, exchange rate unification, and fiscal redirection toward productive sectors are difficult but necessary choices to tackle the root causes of poverty rather than its symptoms. Even the World Bank itself has acknowledged that these reforms are already restoring macroeconomic stability and renewed growth momentum.

“Economic recovery alone is not enough; it must be inclusive. The government’s medium-term focus is on ensuring that macroeconomic stability results in tangible gains for citizens—through affordable food, quality jobs, and reliable infrastructure.

“Investments are being ramped up in agriculture, MSMEs, and power reliability. The agricultural value chain expansion programme, new gas-to-power initiatives, and skills development hubs are designed to create jobs and reduce living costs. Nigerians should begin to feel more visible improvements in food prices, income, and purchasing power as these programmes mature,” the Presidency maintained.

In summary, it added, “President Tinubu’s administration is committed to reducing the incidence of poverty. Nigeria rejects exaggerated statistical interpretations detached from local realities.
“The government remains focused on empowering households, expanding opportunity, and building a resilient, inclusive economy where growth translates directly to improved living standards. The reforms are necessary. The direction is right. The foundation for a fairer and more prosperous Nigeria is being firmly laid.”
The World Bank on Wednesday said despite the economic reforms of the Federal Government, 139 million Nigerians still live in poverty.
The World Bank’s Country Director for Nigeria, Mathew Verghis, stated this at the launch of the Nigeria Development Update (NDU) report in Abuja, the nation’s capital.
Verghis commended the government for taking some steps in stabilising the economy through recent policy reforms.
He, however, warned that more needs to be done to ensure better living standards for Nigerians.