The World Bank confirms that 63% of Nigerians are trapped in poverty despite a decline in inflation rate

The economic paradox gripping Africa’s most populous nation has reached a breaking point as new data reveals a staggering disconnect between cooling price hikes and the actual survival of its citizens. According to the April 2026 Nigeria Development Update released by the World Bank in Abuja, the country’s poverty rate surged to 63 percent in 2025. This means that while government balance sheets might show signs of stabilization, approximately 140 million people are currently living below the national poverty line.

The figures paint a grim picture of a steady decline over the last three years. Poverty levels rose from 56 percent in 2023 to 61 percent in 2024, finally hitting the current 63 percent mark. This upward trajectory is particularly alarming because it occurred while headline inflation was successfully slashed from a peak of nearly 35 percent at the end of 2024 to a much lower 15 percent by the close of 2025.

The World Bank identifies a “weak connection” between these macroeconomic victories and the lived reality of the average household. The report highlights several structural failures preventing the “cooling” economy from benefiting the public:

• Stagnant Wages: Incomes have failed to keep pace with the massive cost pressures accumulated over the previous years.
• Persistent Food Costs: Essential commodities remain priced beyond the reach of many families despite the drop in the inflation rate.
• Security Threats: Ongoing terrorist activities continue to paralyze farming and trade in key regions, keeping the supply chain fragile.

The report, titled “Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development,” warns that the crisis is not just a present day issue but a threat to the future. Lack of investment in nutrition, health, and education for the youngest generation risks locking Nigeria into a cycle of low productivity for decades to come.

While the World Bank projects that poverty could potentially dip to 59 percent by 2028, this recovery is entirely dependent on the government’s ability to move beyond “official talk” and deliver aggressive reforms in job creation and agricultural support. For now, the sentiment across Nigeria’s markets and villages remains one of skepticism, as the gap between statistical recovery and empty pockets continues to widen.