The Presidency has dismissed the World Bank’s latest poverty report, which claimed that about 139 million Nigerians are living below the poverty line, describing the figure as exaggerated and out of touch with reality.
President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, said in a statement on Wednesday that the poverty report must be viewed within proper global measurement standards.
“While Nigeria values its partnership with the World Bank, the figure quoted must be properly contextualised. It is unrealistic,” Dare said.
He explained that the World Bank based its estimate on the $2.15 daily poverty line set in 2017, using outdated data that doesn’t reflect Nigeria’s large informal economy or current living conditions.
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According to the Presidency, the report is a statistical model — not an actual headcount — and should not be interpreted as a real-time measure of poverty in the country.
It added that the government remains focused on reducing poverty through ongoing reforms and social programmes, including cash transfers, infrastructure projects, and job creation initiatives under the Renewed Hope Agenda.
Meanwhile, the World Bank’s October 2025 poverty report, titled “From Policy to People: Bringing the Reform Gains Home,” acknowledged Nigeria’s recent economic reforms but noted that many households are still struggling with weak purchasing power despite signs of recovery.