Nigeria's poverty rate stops rising for the first time since 2019, World Bank finds

The World Bank's October 2026 Nigeria Development Update, 'Beyond the Federal Purse,' delivers a milestone: Nigeria's poverty rate has stabilized for the first time since 2019, and the bank expects it to decline gradually as economic growth outpaces population growth. The economy grew 4.2% in the first half of 2026, up from 3.9% a year earlier; inflation fell from 27.6% in January 2025 to 15.2% by December 2025; the current-account surplus rose to $12 billion; and external reserves climbed from $45.5 billion to $53.8 billion. Higher revenues since 2023 - up 69% in real terms - flowed mostly to states, which raised capital spending by 151%, largely on roads, agriculture, energy and housing. The bank projects growth averaging at least 4.4% a year through 2028.