Half of Nigeria’s population will be poor by 2022 — World Bank

The World Bank on Thursday projected that the number of poor Nigerians will increase from the current 90 million to about 100 million by 2022 due to the impact of the COVID-19 pandemic on the country’s economy.

It stated that by 2022, about 11 million more Nigerians were expected to fall into poverty due to the COVID-19 crisis.

The World Bank also put the financing portfolio approved by its board for Nigeria at about $11.5bn.

The bank disclosed this during its Nigeria Development Update virtual event, which had the theme ‘Rising to the challenge: Nigeria’s COVID-19 response’.

In his presentation at the event, an economist with the bank, Marco Hernandez, said there would an increase in the total number of poor in Nigeria from about 90 million in 2020 to about 100 million in 2022. Northern states are more likely to be affected.”

Call 0803 239 3958 for free financial consulting advice for your businesses. Attend our bi-monthly Peachtree Sage 50 accounting and reporting seminar.
Reach us or send your financial updates and articles to

READ ALSO! Naira free fall: Parallel market not determined by demand, supply forces — CBN Governor

READ ALSO! Skytrend Consulting: Financial services and accounting solutions company

READ ALSO! Why The North Remains Headquarters Of Poverty In Nigeria — Kingsley Moghalu

READ ALSO! For failing to give out ‘adequate loans’, 12 banks fined N499bn

READ ALSO! Naira plunge: Speculators will suffer huge loss, Operators warn

READ ALSO! How To Empower Yourself And Generate Income From Mutual Funds


    • I wonder if up to half of Nigeria’s population is currently above the poverty line. Nigeria is itself a poor country courtesy of its net importer status anchored on non-productivity and its attendant over-reliance of crude oil which price she unfortunately doesn’t dictate in the international market.

  1. This is getting closer…*half” which is about 100 million plus….is painting a more realistic picture of the grim and doom in Nigeria of today.

    Itis quite a pity…for this generation!

  2. I think that projection is not spurious because presently more than three quarter are below average poverty line.

    How much does a Civil Servant earn to be classed wealthy?

Comments are closed.