Presidency rejects World Bank’s poverty report, calls 139 million figure “unrealistic” and not reflective of Nigeria’s economic progress.
In a strong rebuttal, the Nigerian Presidency has rejected a recent World Bank report which claimed that over 139 million Nigerians are living in poverty. The government described the figure as “unrealistic” and not reflective of the nation’s current economic realities.
According to the Presidency, the World Bank’s estimation failed to consider several ongoing national programs and reforms aimed at improving citizens’ welfare. Officials maintained that recent initiatives under President Bola Ahmed Tinubu’s administration particularly those targeting economic stabilization, food security, and social investment, have begun to positively impact living standards across the country.
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The statement further emphasized that Nigeria’s economic challenges are complex but improving, citing recent policy adjustments, foreign investment inflows, and the government’s commitment to reducing unemployment and inflation.
While acknowledging that poverty remains a serious issue, the government insisted that the figures presented by the World Bank were exaggerated and not backed by verifiable local data. The Presidency reaffirmed its commitment to ensuring that ongoing economic reforms translate into measurable improvements for Nigerian households.
The World Bank is yet to respond to the government’s position as discussions continue regarding the accuracy of global poverty metrics in developing nations.