WORLD BANK URGES NIGERIAN GOVERNMENT TO PROTECT POOR CITIZENS AGAINST INFLATION.

The World Bank has called on the Nigerian government to implement reforms that protect the country's poorest citizens from rising inflation and boost livelihoods through more productive work. 

The World Bank gave the advice, following projections that over half of Nigerians (54%) live in poverty, with 42 million more people falling into poverty since 2018/19.

It stated that while recent macroeconomic reforms had started stabilizing the economy, inflation remains high, thereby eroding consumer demand and purchasing power. 

The bank expressed concerns that Labour incomes have not kept pace with inflation, thereby pushing many Nigerians into poverty, particularly in urban areas.

The World Bank also condemned the slow rollout of temporary cash transfers aimed at alleviating the effects of inflation on the poor, which were announced by the government to support 15 million households. 

According to reports, Nigeria's inflation rate surged to 24.23% in March 2025, with food inflation easing slightly to 21.79% and core inflation rising to 24.43%.

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