Presidency Rejects World Bank’s Poverty Report, Says It Does Not Reflect Reality

Presidency Rejects World Bank’s Poverty Report, Says It Does Not Reflect Reality

In a strongly worded rebuttal issued on October 9, 2025, the Nigerian Presidency has formally rejected the World Bank’s latest poverty assessment, which estimated that 139 million Nigerians are currently living below the poverty line.

The report, which relies on the global poverty benchmark of $2.15 per person per day (based on 2017 Purchasing Power Parity), was described by government officials as “unrealistic,” “outdated,” and “detached from Nigeria’s economic realities”.

Presidential spokespersons, including Bayo Onanuga and Sunday Dare, argued that the World Bank’s methodology fails to account for recent economic reforms and the vast informal and subsistence economies that sustain millions of Nigerian households.

They emphasized that the data used in the report was drawn from the 2018/2019 household consumption survey, which predates the administration of President Bola Ahmed Tinubu and does not reflect the impact of current policies aimed at economic recovery and poverty alleviation.

The Presidency highlighted several key reforms undertaken by the Tinubu administration, including the removal of fuel subsidies, exchange rate unification, and fiscal redirection toward productive sectors.

These measures, though painful, are seen by the government as necessary steps to correct structural distortions such as overdependence on imports, low productivity, and regional inequality. Officials stressed that the trajectory of Nigeria’s economy is now one of recovery and inclusive reform, and that the benefits of these policies will become more visible over time.

Furthermore, the government criticized the World Bank’s use of the $2.15 poverty threshold, noting that when converted to local currency, it equates to approximately ₦100,000 per month, well above Nigeria’s new minimum wage of ₦70,000. This, they argued, renders the poverty line a statistical tool rather than a reflection of local income realities.

The Presidency urged caution in interpreting the World Bank’s figures as a literal headcount, asserting that such estimates are modelled projections rather than empirical representations of current conditions.

In defending its position, the Presidency reaffirmed its commitment to poverty reduction through targeted initiatives such as conditional cash transfers, youth employment programs, and agricultural productivity schemes. It called on Nigerians to remain patient and supportive, assuring them that the foundation for a fairer and more prosperous nation is being firmly laid.