Governance Failures Pushing Over 140 Million Nigerians into Poverty

Nigeria’s wealth is growing, but so is the number of people trapped in poverty. Recent data shows the crisis deepening despite claims of easing inflation. The World Bank reports that the share of Nigerians living below the poverty line rose from 56% in 2023 to 63% in 2025, affecting roughly 140 million people. This increase came even as headline inflation fell from 35% to 15% over the same period, highlighting that incomes lag far behind the cost of living. Industry forecasts warn the situation won’t improve soon. Projections suggest poverty could reach 62% of the population by the end of 2026, driven largely by the fact that low-income households spend up to 70% of their budgets on food. Small price shocks now have devastating effects for millions.

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