{"id":20259,"date":"2025-10-10T10:00:00","date_gmt":"2025-10-10T09:00:00","guid":{"rendered":"http:\/\/www.funminews.com\/?p=20259"},"modified":"2025-10-09T15:16:07","modified_gmt":"2025-10-09T14:16:07","slug":"presidency-rejects-world-banks-poverty-report","status":"publish","type":"post","link":"https:\/\/www.funminews.com\/index.php\/2025\/10\/10\/presidency-rejects-world-banks-poverty-report\/","title":{"rendered":"Presidency Rejects World Bank\u2019s Poverty Report"},"content":{"rendered":"\n

The Nigerian Presidency has firmly rejected the World Bank\u2019s latest poverty assessment, which claims that 139 million Nigerians are currently living below the poverty line. In a strongly worded rebuttal, the government described the figure as a statistical abstraction that fails to reflect the country\u2019s evolving economic landscape and the realities of household income.<\/p>\n\n\n\n

President Bola Tinubu\u2019s Special Adviser on Media and Public Communication, Sunday Dare, took to his official X account to challenge the report\u2019s methodology. He argued that the poverty estimate, based on the global benchmark of $2.15 per person per day using 2017 Purchasing Power Parity (PPP), is not a literal headcount but a theoretical construct that overlooks Nigeria\u2019s unique economic dynamics.<\/p>\n\n\n\n

Dare explained that when the $2.15 benchmark is converted to nominal terms, it equates to roughly \u20a6100,000 per month\u2014far above Nigeria\u2019s newly approved minimum wage of \u20a670,000. He emphasized that such conversions distort the picture of poverty in Nigeria, especially when the informal sector and subsistence livelihoods are excluded from the analysis.<\/p>\n\n\n\n

The Presidency criticized the World Bank\u2019s reliance on outdated consumption data from Nigeria\u2019s 2018\/2019 household survey, noting that this approach fails to capture the resilience and adaptability of millions of Nigerians who operate outside formal economic structures. The government insisted that the report should be seen as a global modelled projection, not an empirical snapshot of current living conditions .<\/p>\n\n\n\n

Rather than dwell on static poverty figures, Dare urged observers to focus on Nigeria\u2019s economic trajectory. He highlighted the administration\u2019s reform agenda, which includes fuel subsidy removal, exchange rate harmonization, and fiscal reallocation toward productive sectors. These measures, though difficult, are intended to dismantle structural bottlenecks and stimulate inclusive growth.<\/p>\n\n\n\n

To cushion the impact of these reforms, the Tinubu administration has scaled up several social protection programmes. These include Conditional Cash Transfers reaching 15 million households, the Renewed Hope Ward Development Programmed targeting all 8,809 electoral wards, and the revitalized National Social Investment Programmes such as N-Power and TraderMoni .<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Food security initiatives have also been intensified, with subsidized grain distribution, mechanization partnerships, and the revival of strategic reserves aimed at curbing inflation. Infrastructure investments under the Renewed Hope Infrastructure Fund are financing critical energy, housing, and transport projects to reduce living costs and boost employment.<\/p>\n\n\n\n

The Presidency underscored that macroeconomic recovery must translate into tangible welfare improvements. It pointed to ongoing investments in agriculture, manufacturing, and power reliability\u2014including gas-to-power projects and vocational hubs\u2014as key drivers of job creation and reduced household expenses.<\/p>\n\n\n\n

Efforts are underway to consolidate Nigeria\u2019s social protection architecture under a unified, data-driven framework. This includes expanding the National Social Register and integrating welfare schemes to ensure transparency, accountability, and comprehensive coverage for vulnerable communities.<\/p>\n\n\n\n

In contrast, the World Bank\u2019s Country Director for Nigeria, Mathew Verghis, warned that despite reform gains, poverty continues to deepen. Speaking at the launch of the October 2025 Nigeria Development Update, Verghis acknowledged the boldness of Nigeria\u2019s reforms but stressed that without visible improvements in household welfare, the country risks squandering its hard-won economic momentum.<\/p>\n\n\n\n

.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigerian Presidency has firmly rejected the World Bank\u2019s latest poverty assessment, which claims that 139 million Nigerians are currently living below the poverty line. In a strongly worded rebuttal, the government described the figure as a statistical abstraction that fails to reflect the country\u2019s evolving economic landscape and the realities of household income. President […]<\/p>\n","protected":false},"author":2,"featured_media":20261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4,3],"tags":[],"class_list":["post-20259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-naija-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.funminews.com\/wp-content\/uploads\/2025\/10\/Tinubu.jpeg?fit=1024%2C683&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/20259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/comments?post=20259"}],"version-history":[{"count":1,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/20259\/revisions"}],"predecessor-version":[{"id":20262,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/20259\/revisions\/20262"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media\/20261"}],"wp:attachment":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media?parent=20259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/categories?post=20259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/tags?post=20259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}