139 Million Nigerians Don Enter Poverty Level Despite Reforms – World Bank Yarn

World Bank don yan say about 139 million Nigerians dey live for poverty even though government reform don bring more revenue for all levels of government. Matthew Verghis, di World Bank Nigeria country director, talk dis one for Abuja on Wednesday, October 8, during di launch of Nigerian Development Update. E talk say poverty start to rise since 2019 because of wrong policies and wahala like COVID, and e never reduce even after di reforms. Although Nigeria economy dey grow, revenue dey rise, debt situation dey better, foreign exchange dey stable, reserves dey increase and inflation dey slow small, plenty Nigerians still dey struggle with money. Verghis talk say inflation, especially for food, dey hit di poor hard and fit make people no gree support di reforms if e no improve.

E yan say government must use public funds well, reduce inflation, and increase safety nets to help di poor enjoy di gains from reforms. Di World Bank report, titled ‘From Policy to People: Bringing the Reform Gains Home’, also show say gross revenue for federation allocation don increase well well in di first eight months of 2025. Samer Matta, World Bank lead economist for Nigeria, add say plenty money dey chop for deductions wey no help development. Di report expect Nigeria GDP growth go reach 4.4% by 2027 because service sector strong, agriculture dey bounce back, and industry dey improve for more stable environment. Inflation suppose reduce to 15.8% by 2027 as monetary policy tight and supply pressure reduce. Fiscal deficit go be around 2.7% of GDP for 2026-27 with tax reform and lower interest helping keep debt steady at low 40%. Government both federal and state dey spend more, especially on capital projects, but federal government wages dey take 70% of their budget, leaving less money for capital spending. Di report warn say wahala like oil price shock, reform fatigue, elections and climate change still dey risk di outlook.