Nigeria, under President Bola Tinubu’s administration, has the highest number of extremely poor people globally, according to the World Bank’s Africa’s Pulse report for April 2025.
The report reveals that Sub-Saharan Africa holds the highest extreme poverty rate in the world, with a significant concentration of the poor in a few countries.
Nigeria accounts for 19% of the extremely poor people in Sub-Saharan Africa, surpassing countries like the Democratic Republic of Congo (14%), Ethiopia (9%), and Sudan (6%).
The World Bank noted that about 80% of the world’s 695 million extreme poor reside in Sub-Saharan Africa, while other regions like South Asia, East Asia, and the Pacific contribute far less to global poverty.
In specific figures, Nigeria’s share of the 560 million extremely poor people in Sub-Saharan Africa translates to 106 million Nigerians living in extreme poverty.
This figure also represents approximately 15.25% of the world’s extremely poor population.
The report further highlights that Nigeria, alongside the Democratic Republic of Congo, Ethiopia, and Sudan, accounts for half of Sub-Saharan Africa’s extreme poor in 2024.
It also predicts that more Nigerians will be pushed into poverty under President Tinubu’s administration by 2027, raising concerns about the country’s future economic outlook.
These findings follow a recent report from the International Monetary Fund (IMF), which noted that while President Tinubu’s economic policies have aimed at stabilizing the Nigerian economy, they have yet to show tangible benefits for Nigerians.
Despite the fuel subsidy removal and exchange rate unification, which have been met with economic hardship, the IMF warned that the country remains economically uncertain with ongoing issues such as poverty and food insecurity.
In August 2024, mass protests erupted across Nigeria, with thousands of Nigerians demanding better governance and relief from the worsening economic conditions.
However, President Tinubu has maintained that these difficulties are necessary sacrifices for the long-term economic recovery of the country.
