₦airaland Forum

The World Bank has projected that poverty in Nigeria will increase by 3.6 percentage points over the next five years, rising through 2027.


This is according to the Bank’s Africa’s Pulse report, released during the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, DC.

The report paints a troubling outlook for poverty reduction in Nigeria, highlighting that despite some recent gains in economic activity—particularly in the non-oil sector during the last quarter of 2024—structural issues related to resource dependence and national fragility are likely to hinder progress.

According to the World Bank, Nigeria, alongside other resource-rich and fragile countries in Sub-Saharan Africa, will experience a worsening poverty situation—unlike non-resource-rich countries, which are expected to see faster poverty reduction.

“Poverty in resource-rich, fragile countries—including large economies like Nigeria and the Democratic Republic of Congo—is projected to increase by 3.6 percentage points between 2022 and 2027,” the report stated.

The report underscores that Sub-Saharan Africa continues to have the highest extreme poverty rate globally, with a disproportionate concentration of the poor: In 2024, 80% of the world’s 695 million extreme poor lived in Sub-Saharan Africa.

Within the region, half of the 560 million extreme poor were located in just four countries.

In comparison, South Asia accounted for 8%, East Asia and the Pacific 2%, the Middle East and North Africa 5%, and Latin America and the Caribbean 3%.

Resource-rich countries are expected to lag in poverty reduction due to slowing oil prices and weak fiscal structures. Conversely, non-resource-rich countries are benefiting from high agricultural commodity prices, which are fueling stronger growth despite fiscal pressures.


The report adds: “This follows a well-established pattern whereby resource wealth combined with fragility or conflict is associated with the highest poverty rates—averaging 46% in 2024, which is 13 percentage points higher than in non-fragile, resource-rich countries.”

In light of these projections, the World Bank recommends that Nigeria and similar economies focus on improving fiscal management and building a stronger fiscal contract with citizens to promote inclusive economic development and long-term poverty alleviation.

Racoon:
Nothing new. It was under them that Nigeria have long taken over the inglorious title of the world's headquarters for extreme poverty.

Bobloco:
The World Bank has projected that poverty in Nigeria will increase by 3.6 percentage points over the next five years, rising through 2027.

https://www.vanguardngr.com/2025/04/more-nigerians-will-become-poor-by-2027-world-bank/

MORE NIGERIANS WILL BECOME POORER BY 2027

helinues:
Back to the sender

Forward ever, backward never

The statistics that was released about Nigeria GDP was false

Btw, those who are going through extreme poverty have already invaded this thread. Very worrisome future for them

Biggeststar01:
Continue praying.

Na prayer China use develop.

helinues:
Poverty and penury no be better things. Even your thinking are not straight

Have you forgotten that na you people developed Lagos as you claimed only the Agbero was rich during president Tinubu as Lagos state governor

TrackerSK:
You can't express yourself in English and you keep quoting people.I just pity you

Streetinvestor2:
That I can agree.And it is going to increase seriously in SW as thr governors are only working to see SW president get pleased.You can see they have the highest number of thr youths wasting here on obi matter who was successful before 30 yr.He was already a multi millionaire before joining politics. Many of them here are still living in thr parents houses and eating free food.They collect stipend at the end of the month from SW president to buy credit to still be active here.I really pity for many here

Streetinvestor2:
That I can agree.And it is going to increase seriously in SW as thr governors are only working to see SW president get pleased.You can see they have the highest number of thr youths wasting here on obi who was successful before 30 yr.He was already a multi millionaire before joining politics. Many of them here are still living in thr parents houses and eating free food.They collect stipend at the end of the month from SW president to buy credit to still be accepted here.I really pity for many here

helinues:
Back to the sender

Forward ever, backward never

The statistics that was released about Nigeria GDP was false

Btw, those who are going through extreme poverty have already invaded this thread. Very worrisome future for them

helinues:
Back to the sender

Forward ever, backward never

The statistics that was released about Nigeria GDP was false

Btw, those who are going through extreme poverty have already invaded this thread. Very worrisome future for them