PwC: Nigeria’s Poverty Crisis Set To Deepen By 2026
By OBIOMA TORI
A sobering new forecast from global consultancy firm PwC suggests that poverty in Nigeria could worsen significantly by December 2026, with as many as 141 million people — around 62% of the population — projected to be living in poverty. The finding appears in PwC’s Nigeria Economic Outlook 2026: Turning Macroeconomic Stability into Sustainable Growth, released this week, highlighting a stark divide between national economic indicators and the lived experience of ordinary Nigerians.
The report paints a picture of an economy where recent macroeconomic policy adjustments — including reforms to exchange rates and subsidy frameworks — have yet to generate palpable welfare improvements for households. Instead, slow real income growth and high living costs are expected to erode household resilience, pushing more Nigerians into poverty even as headline inflation edges downward in official statistics.
According to the analysis, the expected gradual moderation of inflation will not be sufficient to offset cost pressures faced by households, particularly those with limited income buffers. As incomes lag and essential goods remain costly, millions of households risk falling below the poverty line, amplifying social vulnerability and economic stress.
PwC’s projection raises urgent questions about the effectiveness of current economic policies in addressing inequality and promoting shared prosperity. The firm underscores the need for focused interventions that go beyond stabilising macroeconomic metrics — including investments in jobs, productivity, and social safety nets — to prevent a large-scale deterioration in living standards that could define Nigeria’s socioeconomic landscape through 2026.
