₦airaland Forum

The Presidency has rejected the World Bank’s recent report estimating that 139 million Nigerians are living in poverty, saying the figures do not reflect current realities under President Bola Tinubu’s administration.

In a statement, the Special Adviser to the President on Media and Public Communication, Sunday Dare, said the data quoted by the World Bank must be properly contextualised, noting that it is based on historical and modelled estimates rather than real-time assessments.

According to the statement, the World Bank’s estimate was derived from the global poverty benchmark of $2.15 per person per day, set in 2017 under the Purchasing Power Parity (PPP) framework. Dare explained that the figure, when converted to today’s exchange rate, equals about ₦100,000 per month—an amount that is above Nigeria’s new minimum wage of ₦70,000.

“The measure is an analytical construct, not a direct reflection of local income realities,” he said. “The poverty assessment under the PPP methodology relies on outdated consumption data, with Nigeria’s last major household survey conducted in 2018/2019.”

He added that the estimate does not account for the informal and subsistence sectors that sustain millions of households across the country.

The Presidency maintained that the figure should be regarded as a global model estimate, not an empirical representation of conditions in 2025, and emphasised that the country’s poverty trajectory is now one of recovery and inclusive reform.

Dare listed a range of government programmes aimed at reducing poverty and improving living standards, including:

Conditional Cash Transfers (CCT): Expanded to reach 15 million households nationwide, with over ₦297 billion disbursed since 2023.

Renewed Hope Ward Development Programme (RH-WDEP): Covering all 8,809 electoral wards, providing micro-infrastructure and social services at the community level.

National Social Investment Programmes (NSIPs): Strengthened initiatives such as N-Power, TraderMoni, MarketMoni, FarmerMoni, and the Home-Grown School Feeding Programme.

Food Security Measures: Including distribution of subsidised grains and fertilisers, mechanisation initiatives, and the revival of strategic food reserves.

Renewed Hope Infrastructure Fund (RHIF): Financing key energy, road, and housing projects to reduce living costs and boost job creation.

National Credit Guarantee Company (NCGC): Expanding access to affordable credit for small businesses, women, and youth.

The Presidency said the government is addressing long-standing structural challenges such as overdependence on imports, productivity constraints, and regional disparities.

It noted that reforms such as the removal of fuel subsidies, exchange rate unification, and fiscal redirection toward productive sectors are part of efforts to tackle the root causes of poverty and promote sustainable growth.

Dare said the World Bank itself has acknowledged that these reforms are contributing to macroeconomic stability and renewed growth momentum.

The statement added that the administration’s medium-term focus is to ensure that macroeconomic stability translates into tangible welfare gains for citizens through affordable food, quality jobs, and reliable infrastructure.

It said ongoing investments in agriculture, micro, small and medium enterprises (MSMEs), and power reliability are expected to create employment and lower living costs.

According to the Presidency, Nigerians are expected to begin seeing improvements in food prices, income levels, and purchasing power as these programmes continue to take effect.

treesun:
https://dailytrust.com/presidency-world-banks-poverty-report-doesnt-reflect-happenings-under-tinubu/

treesun:
https://dailytrust.com/presidency-world-banks-poverty-report-doesnt-reflect-happenings-under-tinubu/

slivertongue:
The world Bank grossly under represented the facts. 180-190 million Nigerians not 139 are miserably poor. The facts are on the streets which this govt seeks to deny. Imagine taxing the people to near death

PerfectStranger:
The problem might not even be president but people working for him. Is just a cold world

emirate9:
Stop making unnecessary excuse, the problem is straightup from the president ...

when he gives directive that brings succour to the people like duty waiver thats only when you see non compliance
But let him give Tax directive this morning now before you will feel the implementation nd enforcement ... lets face the truth Tinubu is not here to make life better for Nigerians

SmartPolician:
That's true because things are even by far worse than what the World Bank reported