In a sobering new report, the World Bank has revealed that Nigeria under President Bola Tinubu now holds the unenviable title of having the highest number of extremely poor people in the world.
The April 2025 edition of the Africa’s Pulse report places Nigeria at the top of the global poverty chart, accounting for 19% of the extremely poor population in Sub-Saharan Africa. That figure translates to roughly 106 million Nigerians—a staggering number that represents over 15% of the 695 million people globally living in extreme poverty.
“Sub-Saharan Africa has the highest extreme poverty rate globally, and a large share of the poor is concentrated in a few countries,” the report notes. Alongside Nigeria, the Democratic Republic of Congo (14%), Ethiopia (9%), and war-torn Sudan (6%) round out the top four.
The World Bank further predicts a grim outlook for Nigeria’s future, warning that more Nigerians will slip into extreme poverty by 2027 if current trends continue. This stark projection comes just weeks before Tinubu marks his second year in office on May 29.
Tinubu’s Economic Gamble
Since assuming office in 2023, President Tinubu has implemented sweeping economic reforms, including the removal of fuel subsidies and the unification of Nigeria’s exchange rate. While these measures were designed to stabilize the economy and attract foreign investment, they have also sparked widespread economic hardship.
In August 2024, thousands of Nigerians took to the streets in a rare 10-day nationwide protest over worsening hunger and poor governance.
Despite growing discontent, the Tinubu administration has defended its policies as necessary for long-term recovery. “The pain is temporary,” the president has said on multiple occasions, insisting that reforms are designed to lay the foundation for sustainable economic growth.
IMF Weighs In
The International Monetary Fund (IMF), in its own recent assessment, acknowledged that the reforms have placed the economy on a better footing to handle global shocks. However, it emphasized that Nigerians are yet to feel the benefits.
“The outlook is marked by significant uncertainty,” the IMF warned, pointing to persistent poverty, food insecurity, and economic volatility.
A Nation at a Crossroads
With nearly one in every seven of the world’s poorest people living in Nigeria, the report underscores a stark reality for Africa’s most populous country. As the Tinubu government looks ahead to the midpoint of its tenure, the challenge remains daunting: how to lift millions out of poverty in a country still grappling with inflation, insecurity, and a widening wealth gap.
If the current trajectory continues, Nigeria could remain the epicenter of global poverty for years to come—unless urgent policy shifts and bold social investments are made.
