More Nigerians are likely to be plunged into poverty this year, deepening hardship for households that have endured the worst cost-of-living crisis in a generation. This is despite inflation slowing for most of 2025.
No fewer than two million people will fall below the poverty line in 2026, raising the poverty numbers in Africa’s most populous nation to 141 million, or 62 percent, from an estimated 139 million last year, marking the highest rate ever, according to a new report by professional services and advisory firm PwC.
“Poverty levels are projected to reach 62% of the total population (141 million people) in 2026, reflecting the combined effects of legacy policy gaps, global shocks, and the short-term costs of ongoing reforms,” PwC said in its Nigerian economic outlook.