The World Bank has revealed that about 79 percent of Nigerians remain poor or vulnerable to falling into poverty despite nearly three years of sweeping economic reforms introduced by the administration of President Bola Tinubu.

This is contained in the World Bank’s newly approved Country Partnership Framework for Nigeria covering 2026 to 2032 and its accompanying Streamlined Country Diagnostic, which assessed Nigeria’s economic performance and development challenges.

The report said 61 per cent of Nigerians currently live below the poverty line, while 33 per cent are classified as ultra-poor and unable to meet their minimum food requirements.

The global financial body said that the Tinubu’s reforms have helped stabilise the economy and improve key macroeconomic indicators.

According to World Bank, economic growth increased from 3.5 per cent in the first half of 2024 to 3.9 per cent during the corresponding period of 2025, adding that foreign reserves have risen above $42 billion, fiscal deficits have narrowed and investor confidence has strengthened.

It, however, said the gains from the reforms have yet to translate into meaningful improvements in the living standards of most Nigerians.

“Thirty-three per cent of its population is ultra-poor (food insecure by age-weighted caloric intake), 61 per cent is below the poverty line, and 79 per cent is near poor (below the poverty line or vulnerable to falling back into poverty).

“Despite recent bold reforms stabilising the economy and laying the groundwork for the Renewed Hope Agenda, significant structural challenges remain,” it said.