Presidency Refutes World Bank’s Estimate of 139 Million Nigerians in Poverty

The Presidency has rejected the World Bank’s recent assertion that 139 million Nigerians are living in poverty, describing the figure as “unrealistic” and calling for proper contextualisation of the methodology used.

Through his Special Adviser on Media and Public Communication, the Presidency challenged the validity of the World Bank’s poverty estimate, emphasizing that it is based on a global benchmark of $2.15 per day (on Purchasing Power Parity terms). The statement noted that when converted to nominal terms, this benchmark would equate to about ₦100,000 monthly — a figure higher than the current national minimum wage.

The government argued that the World Bank’s use of PPP methodology and outdated consumption surveys fails to fully capture Nigeria’s informal economy and subsistence livelihoods. Accordingly, it views the 139 million estimate as a modelled projection rather than a real-time headcount.

While affirming its respect for the Bank’s analytical contributions, the Presidency insisted that policy must prioritize direction and impact — not absolute numbers. It pointed to ongoing reforms (such as subsidy removal, FX unification, and fiscal reallocation) and expanded social welfare programmes as evidence that the administration is actively tackling structural distortions.

Key social interventions mentioned include conditional cash transfers, expanded social investment schemes, food security measures, and infrastructure development. The statement asserted that success will be judged not by statistical claims but by tangible improvement in citizens’ welfare.