The Presidency has rejected the World Bank’s recent report estimating that 139 million Nigerians are living in poverty, insisting that the figures do not reflect current realities under President Bola Tinubu’s administration.
In a statement on Thursday, the Special Adviser to the President on Media and Public Communication, Sunday Dare, said the data cited by the World Bank was based on historical and modelled estimates, not real-time economic assessments.
According to Dare, the World Bank’s estimate draws from the global poverty benchmark of $2.15 per person per day, a standard set in 2017 under the Purchasing Power Parity (PPP) framework. He explained that when converted using current exchange rates, the benchmark equals about ₦100,000 per month, a figure higher than Nigeria’s new minimum wage of ₦70,000.
“The measure is an analytical construct, not a direct reflection of local income realities,” Dare said. “The poverty assessment under the PPP methodology relies on outdated consumption data, with Nigeria’s last major household survey conducted in 2018/2019.”
He further noted that the World Bank’s analysis does not account for informal and subsistence activities that sustain millions of households across the country.
The Presidency described the World Bank’s figure as a global model estimate rather than an empirical representation of present-day Nigeria, adding that the country’s poverty trajectory is shifting toward recovery and inclusive growth.
Dare listed several ongoing government programmes aimed at improving living standards and reducing poverty. These include the Conditional Cash Transfer (CCT) scheme, which has been expanded to reach 15 million households nationwide with over ₦297 billion disbursed since 2023; the Renewed Hope Ward Development Programme (RH-WDEP), which covers all 8,809 electoral wards to deliver community-level infrastructure and social services; and the National Social Investment Programmes (NSIPs), which have strengthened initiatives such as N-Power, TraderMoni, MarketMoni, FarmerMoni, and the Home-Grown School Feeding Programme.
Other efforts include the distribution of subsidised grains and fertilisers, agricultural mechanisation, and the revival of strategic food reserves under food security measures; the Renewed Hope Infrastructure Fund (RHIF), which supports key energy, road, and housing projects; and the National Credit Guarantee Company (NCGC), which is expanding access to affordable credit for small businesses, women, and youth.
The Presidency said the government is tackling long-standing economic challenges such as import dependency, productivity constraints, and regional disparities. It added that reforms including fuel subsidy removal, exchange rate unification, and fiscal redirection toward productive sectors are designed to address the root causes of poverty and strengthen economic growth.
Dare noted that the World Bank itself has acknowledged that the administration’s reforms are contributing to macroeconomic stability and renewed growth momentum.
According to the statement, the administration’s medium-term focus is to ensure that recent economic stability translates into tangible welfare gains for citizens through affordable food, quality jobs, and reliable infrastructure. It added that ongoing investments in agriculture, MSMEs, and power are expected to lower living costs and create employment opportunities.
“Nigerians will begin to see improvements in food prices, income levels, and purchasing power as these programmes take effect,” Dare said.
