Presidency Rejects World Bank Poverty Data, Says Figures Don’t Reflect Nigeria’s Realities

THE Presidency has dismissed a World Bank report claiming that 139 million Nigerians—about 61% of the population—live in poverty, calling the figure a “statistical projection” that misrepresents current realities.

In a statement on Wednesday, Presidential Adviser on Information and Strategy, Sunday Dare, said the report, which uses the global poverty benchmark of $2.15 per day, is based on outdated 2018/2019 data and fails to capture Nigeria’s vast informal economy.

Dare argued that the poverty threshold—equivalent to about ₦100,000 monthly at current exchange rates—exceeds the nation’s ₦70,000 minimum wage, making it an unrealistic measure of local living conditions.

He said the World Bank’s findings overlook the economic reforms currently underway, including fuel subsidy removal, exchange rate unification, and fiscal redirection, which aim to tackle structural poverty drivers and restore growth.

“The report is a global model, not an empirical picture of 2025 Nigeria,” Dare stated. “Our focus remains on empowering households and building an inclusive, resilient economy.”