Presidency Rejects World Bank’s Poverty Report on Nigeria
The Nigerian Presidency has rejected a recent World Bank report estimating that 139 million Nigerians are living in poverty, calling the figure "unrealistic." In a statement, President Bola Tinubu's media adviser, Sunday Dare, argued that the World Bank's model uses a global poverty line of $2.15 per day, which, when converted, amounts to nearly ₦100,000 per month. He pointed out that this is higher than Nigeria's new minimum wage of ₦70,000, making the metric an "analytical construct" rather than a true reflection of local realities. The Presidency emphasized that the government is focused on its reform trajectory and social programs, such as expanded cash transfers and infrastructure funds, to drive inclusive growth. It stated that what matters is the direction of the economy, not a static figure based on outdated consumption data. While the World Bank commended Nigeria's bold economic […]
