Presidency dismisses World Bank poverty report, describes it ‘unrealistic’
By Abdullahi Mukhtar Algasgaini
The Presidency has dismissed the latest World Bank report estimating that 139 million Nigerians are living in poverty, describing the figure as “unrealistic” and disconnected from the nation’s true economic situation.
President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, stated in a post on his official X handle on Thursday that the World Bank’s statistics must be “properly contextualised” within the framework of global poverty measurement models.
“While Nigeria values its partnership with the World Bank and appreciates its contributions to policy analysis, the figure quoted must be properly contextualised. It is unrealistic,” Dare said.
According to the Presidency, the figure of 139 million Nigerians was derived from the global poverty line of $2.15 per person per day, set in 2017 using Purchasing Power Parity (PPP).
It stressed that the benchmark should not be taken as a direct count of citizens living in poverty.
The statement explained that when converted to local currency, the $2.15 daily poverty threshold amounts to about ₦100,000 per month—significantly higher than Nigeria’s new minimum wage of ₦70,000.
“There must be caution against interpreting the World Bank’s numbers as a literal, real-time headcount,” it added.
“The measure is an analytical construct, not a direct reflection of local income realities.”
The Presidency also noted that poverty assessments using the PPP methodology rely on outdated consumption data—Nigeria’s last major survey being in 2018/2019—and often fail to capture the informal and subsistence economies that support millions of Nigerians.
It emphasised that the World Bank’s estimate should be viewed as a modelled global projection rather than an empirical representation of present-day conditions.
“What truly matters is the trajectory,” the statement concluded, “and Nigeria’s is now one of recovery and inclusive reform.”








