The Presidency has dismissed the World Bank’s recent report estimating that 139 million Nigerians are living in poverty, describing it as outdated and inconsistent with the country’s current realities under President Bola Tinubu’s administration.
In a statement issued Thursday by the Special Adviser to the President on Media and Public Communication, Sunday Dare, the presidency argued that the figures were “modelled and historical estimates” rather than real-time assessments of Nigeria’s economic conditions.
Dare explained that the World Bank’s estimate is based on the 2017 global poverty benchmark of $2.15 per person per day under the Purchasing Power Parity (PPP) framework.
When adjusted to current exchange rates, he said, the figure translates to about ₦100,000 per month—a value that exceeds Nigeria’s new minimum wage of ₦70,000.
He further clarified that the report should not be interpreted as an accurate reflection of living standards in 2025, adding that the Tinubu administration’s economic reforms are already setting Nigeria on a trajectory of recovery and inclusive growth.
The Presidency maintained that ongoing reforms and social investment programmes have significantly reduced hardship levels, urging international institutions to rely on more accurate and updated national data.