The Presidency has rejected a World Bank report estimating 139 million Nigerians live in poverty, calling it unrealistic while opposition leaders and labour unions say rising hardship proves otherwise.
The Presidency has dismissed the World Bank’s latest estimate that 139 million Nigerians live in poverty, describing the figure as “unrealistic” and detached from local realities.
In a statement on Wednesday, President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, said while Nigeria valued its partnership with the World Bank, the poverty data “must be properly contextualised.”
Dare explained that the $2.15 global poverty line used in the report equates to nearly ₦100,000 per month at current exchange rates, far above Nigeria’s minimum wage of ₦70,000. He argued that the metric relied on outdated surveys and overlooked the vast informal economy.
The Presidency insisted the government was addressing poverty through conditional cash transfers, food security programmes, credit schemes, and the Renewed Hope Ward Development Programme. It added that reforms such as fuel subsidy removal and exchange rate unification, though painful, were laying foundations for long-term prosperity.
Meanwhile, opposition parties, labour groups, and economists criticised the administration, saying hardship had deepened despite reforms.
They urged government to ensure that economic growth translates into affordable food, jobs, and improved living standards.