The Digest:
The World Bank has reported that poverty in Nigeria climbed sharply to 63 percent in 2025, affecting about 140 million people, despite a slowdown in inflation. Poverty rose from 56 percent in 2023 to 61 percent in 2024 before reaching 63 percent in 2025. Headline inflation dropped from 34.80 percent in December 2024 to 15.15 percent in December 2025, but the bank warned that household incomes have not grown fast enough to offset earlier price surges.
Key Points:
- Agriculture, which employs over half of Nigeria's poor, has grown too slowly.
- Global shocks, including Middle East conflicts, pushed up energy, food, and transport costs.
- The bank projects poverty may gradually drop to 59 percent by 2028.
- Weak job creation and low agricultural productivity are slowing progress.
- Food inflation fell from 39.84% to 10.84%, but purchasing power remains weak.
