WORLD BANK: Nigeria Risk Millions More In Poverty By 2027

Nigeria at Risk: Millions More Could Fall Into Poverty by 2027, Warns World Bank.

A recent report from the World Bank has raised serious concerns about the growing poverty crisis in Nigeria. According to the findings, nearly 47% of the country’s population currently survives on less than $2.15 per day — the global benchmark for extreme poverty.

The situation may worsen significantly, as projections suggest that about 14 million additional Nigerians could slip into poverty by the end of 2024. This troubling trend is linked to stagnant wages and a surge in the cost of living, which continues to erode household purchasing power.

Looking ahead, the World Bank warns that without urgent and effective economic reforms, the poverty rate could climb to 52% by 2026. The institution emphasized the need for policies that protect the most vulnerable citizens from inflation and expand access to decent, income-generating jobs.

With time ticking, the call for change has never been more urgent.