“More Nigerians Will Become Poor By 2027” – World Bank Gives Shocking Forecast!

The poverty in Nigeria is likely to worsen by 2027 due to the country’s ongoing economic instability and over reliance on natural resources. According to the bank’s latest Africa Post report released during the International Monetary Fund (IMF) Spring Meetings in Washington DC. Nigeria is projected to see 3.6 percentage point increase in poverty over the next five years.

The Report paint a gray picture, noting that Nigeria recorded better than economic growth in late 2024 mainly driven by non-sectors, deeper issues tied around resource-dependent economy and political instability could push more Nigerian below the poverty line. The World Bank pointed out that non-resource rich countries in the region have made stronger progress in reducing poverty hit by rising agricultural commodity prices and improved government structures.

Meanwhile, countries like Nigeria have been left behind due to slowing oil revenues and weak fiscal management. In 2024, Sub-Saharan Africa accounted for 80% of the world’s extremely poor population, with Nigeria being one of four countries calls for urgent reform in Nigeria policy and stronger engagement with citizens to build a more strong inclusive and resilient economy.