The World Bank’s April 2025 Poverty and Equity Brief paints a grim picture of Nigeria’s economic condition—especially in rural areas—where 75.5% of residents are now living in poverty.
This stark disparity reveals the widening economic gap between rural and urban communities, with poverty in cities standing at 41.3%.
Key takeaways from the report:
• Over 54% of Nigerians are now estimated to live in poverty (2024 projection).
• Children (0–14 years) and people with no formal education suffer the highest poverty rates (72.5% and 79.5%, respectively).
• Regional inequality remains pronounced: poverty in northern zones was 46.5% in 2018/19 vs. 13.5% in the south.
• Poor access to basic amenities: 45.1% lack adequate sanitation, 39.4% have no electricity, and 32.6% lack safe drinking water.
• Over 42 million people have fallen into poverty since 2018/19, driven by inflation, subsidy cuts, and weak job creation.
The Bank stressed that without deep reforms—including in education, health, job creation, and economic diversification—poverty will continue to rise. Temporary cash transfers, it warned, are not enough.
