The World Bank has expressed serious concern over the worsening poverty crisis in Nigeria, revealing that approximately 75.5% of rural Nigerians now live below the poverty line. This is according to the institution’s April 2025 Poverty and Equity Brief for Nigeria.
The report highlights growing economic disparity, with rural areas bearing the brunt due to inflation, insecurity, and stagnating local economies. While 41.3% of urban residents are classified as poor, poverty levels are significantly more severe in the countryside.
Using data from Nigeria’s National Bureau of Statistics (NBS), the Bank stated that as of 2018/19, 30.9% of Nigerians lived on less than $2.15 a day. Northern regions recorded poverty rates as high as 46.5%, compared to 13.5% in the South, further underscoring deep regional inequality.
The World Bank also cited that children aged 0–14 face a 72.5% poverty rate, and poverty levels correlate strongly with education. For instance, individuals with no formal education suffer an almost 80% poverty rate, while those with tertiary education fare far better at 25.4%.
Access to basic amenities remains limited. Nearly 40% of Nigerians lack electricity, 45% lack basic sanitation, and over 32% have no access to clean water. Education access is also limited, with 17.6% of adults not completing primary school and 9% of households having out-of-school children.
The Bank warned that the country’s economic growth has failed to keep pace with population increases. Despite recent reforms, high inflation continues to erode incomes, particularly in urban areas where job creation remains sluggish.
In response, the World Bank called for urgent reforms to shield vulnerable groups from inflation, stimulate employment through productive investments, and address systemic barriers like weak institutions and policy inconsistencies.
Meanwhile, African Development Bank (AfDB) President Akinwumi Adesina criticized Nigeria’s economic stagnation, saying Nigerians are worse off today than they were at independence in 1960. He cited declining per capita income and compared Nigeria’s economic trajectory unfavorably with that of South Korea.
However, the Nigerian Presidency rejected Adesina’s remarks, with presidential spokesperson Bayo Onanuga disputing his figures and accusing him of political bias. Onanuga argued that GDP per capita does not fully reflect improvements in infrastructure, access to technology, healthcare, and education since independence.
Civil society leaders also weighed in. ActionAid Nigeria blamed persistent poverty on government corruption and poor policy decisions, especially recent economic reforms that worsened conditions for many Nigerians. Economist Garba Sheka echoed the World Bank’s concerns, warning that rising poverty could undermine national stability if not urgently addressed.