The World Bank has revealed that a staggering 75.5 percent of rural dwellers now live below the poverty line in Nigeria.
The Bank, which disclosed this in its ‘April 2025 Poverty and Equity Brief for Nigeria’ report, paints a bleak picture of rising economic hardship, growing inequality, and persistent underdevelopment across large parts of the country.
According to the report, while 41.3 percent of Nigeria’s urban population lives in poverty, the situation is significantly worse in rural areas, where economic stagnation, inflation, and insecurity have combined to deepen hardship.
Based on the most recent official household survey data from Nigeria’s National Bureau of Statistics, (NBS), 30.9% of Nigerians lived below the international extreme poverty line of $2.15 per person per day in 2018/19 before the Covid-19 pandemic”, the report stated.
According to the report, the poverty rate in northern geo-political zones was 46.5% in 2018/19, when compared with 13.5% for southern ones. Inequality measured by the Gini index was estimated at 35.1% in 2018/19.
“Nigeria’s Prosperity Gap – the average factor by which individuals’ incomes must be multiplied to attain a prosperity standard of $25 per day for all – is estimated at 10.2%, higher than most peers.”
These figures highlight the stark economic divide across different parts of the country, which has persisted despite various interventions aimed at inclusive growth.
The World Bank further noted that multi-dimensional poverty indicators paint a similarly bleak picture.
About 30.9% of Nigerians survive on less than $2.15 a day, 32.6% do not have access to limited-standard drinking water, 45.1% lack limited-standard sanitation, and 39.4 per cent have no access to electricity. Additionally, 17.6% of adults have not completed primary education, and 9.0% of households have at least one school-aged child who is not enrolled in school.
Before the Covid-19 pandemic, the report said progress in reducing extreme poverty in Nigeria had nearly stagnated, with the poverty rate declining by only half a percentage point annually since 2010.
The World Bank acknowledged recent economic reforms aimed at stabilising the macro-economy, but warned that high inflation continues to erode purchasing power and deepen poverty, particularly in urban centres where labour incomes have not kept up with rising prices.
In response to the deepening crisis, the Bank recommended urgent reforms to protect vulnerable populations from inflation shocks and boost employment through more productive economic activities.
