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Poverty by the Numbers: Why Nigeria Disagrees with the World Bank’s 139 Million Estimate

The Presidency has dismissed the latest World Bank report estimating that 139 million Nigerians live in poverty, describing the figure as “unrealistic” and disconnected from the country’s economic realities. President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, stated via his official X handle on Thursday that the World Bank’s poverty figures […]

Still Struggling: Nigeria Lags Behind War-Torn Libya on World Bank Income Scale

The World Bank has once again classified Nigeria as a lower-middle-income economy, placing it behind war-torn Libya and Gabon in its 2025/2026 country income report. While Nigeria retained its lower-middle-income status, countries such as Algeria, Botswana, Equatorial Guinea, Libya, Gabon, Mauritius and South Africa were ranked higher among upper-middle-income economies. According to the World Bank, […]

Where’s the Money? World Bank Presses FG on Missing Fuel Savings

The World Bank has called on the Nigerian government to fully transfer all revenue gains from fuel subsidy removal to the Federation Account, citing concerns over incomplete remittances by the Nigerian National Petroleum Company Limited (NNPCL). In its latest Nigeria Development Update (NDU), launched in Abuja, the Bank noted that despite the official removal of […]

World Bank to FG: Shield Poor from Inflation, Use Reforms to Boost Livelihoods

The World Bank has urged the Federal Government to prioritise reforms that protect the country’s poorest citizens from rising inflation and to enhance the livelihoods of all Nigerians through increased access to productive employment. This recommendation was contained in the Bank’s Poverty and Equity Brief for Nigeria, published in April 2025 and obtained on Monday. […]

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