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Tag: Poverty

Finance

FG launches $1bn HOPE-SP to move Nigerians out of poverty

The Federal Government on Wednesday, launched a $1 billion social protection programme designed to shift vulnerable Nigerians from temporary relief to lasting economic empowerment and self-reliance. The Household Prosperity and Empowerment Social Protection Project was launched at the State House Banquet Hall in Abuja, alongside four additional programmes aimed at bolstering the nation’s humanitarian response […]

Economy featured

79% of Nigerians still poor despite reforms — World Bank

Despite nearly three years of sweeping economic reforms by the Federal Government, about 79 per cent of Nigerians remain poor or vulnerable to falling into poverty, highlighting the country’s deepening social and economic challenges. New World Bank documents obtained by The PUNCH show the findings are contained in the World Bank’s newly approved Country Partnership […]

34.3% of employed Nigerians trapped in poverty - Report
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Power sector workers warn of crisis amid insecurity, poverty

Organised Labour in the nation’s electricity industry has raised alarm over worsening insecurity, deepening poverty, and what they describe as a collapsing power sector, claiming that these are pushing them to the brink. Under the umbrella of the National Union of Electricity Employees they lamented that its members are increasingly exposed to violence, unsafe working […]

Economy

FG launches OHOPRS to lift 50m Nigerians from poverty by 2030

The Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, has inaugurated the “One Humanitarian-One Poverty Response System”, aimed at lifting 50 million Nigerians out of poverty by 2030. Doro unveiled the initiative at a National Technical Workshop for stakeholders in the humanitarian sector at the UN House in Abuja on Tuesday. The minister […]

34.3% of employed Nigerians trapped in poverty - Report
Economy

Subsidy removal pushes Nigeria’s poverty rate to 63% — Report

About 63 per cent of Nigerians fell below the poverty line after the removal of petrol subsidy, according to a new study that examined the welfare impact of the country’s recent economic reforms. The PUNCH reported that the research, presented at a stakeholders’ dialogue organised by Agora Policy in Abuja on Thursday, showed that the […]

Special Economic Zones amass $66bn foreign investment - Report
Maritime

Blue economy key to lifting Africa from poverty — NPA boss

The Managing Director of the Nigerian Ports Authority and current President of the Port Management Association of West & Central Africa, Dr. Abubakar Dantsoho, has called upon maritime operators and regulators in the West and Central African sub-region to prioritize the Blue Economy to stimulate job creation and uplift African nations and their people. Speaking […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
Opinion

World Bank report exposes worsening poverty under Tinubu — ADC

The African Democratic Congress has said that the World Bank’s October 2025 report, which revealed that 139 million Nigerians are now living below the poverty line, exposes the widening gap between the Federal Government’s claims of economic recovery and the harsh realities faced by ordinary citizens. In a statement signed by its National Publicity Secretary, […]

Helth

67% of Nigerian children live in multidimensional poverty — UNICEF

The United Nations Children’s Fund reported on Tuesday that sixty-seven percent of Nigerian children live in multidimensional poverty, deprived of basic education, health, and other fundamental rights. Kitty van der Heijden, the agency’s deputy executive director, disclosed this at a breakout session on “Safeguarding Nigeria’s Future: Prioritising Child Well-being” at the ongoing Nigerian Economic Summit […]

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Why Nigeria must lift millions out of poverty – IMF

The International Monetary Fund has called on Nigeria to intensify efforts toward inclusive growth, tighten fiscal discipline, and improve domestic revenue mobilisation as crucial steps toward long-term economic stability and prosperity. In a blog post on Monday, IMF Mission Chief to Nigeria, Axel Schimmelpfennig, and Resident Representative, Christian Ebeke, praised recent reform efforts but cautioned […]

One in six Nigerian children face hunger over food inflation - Report
News

One in six Nigerian children face hunger over food inflation – Report

A recent report by Save the Children has projected that approximately one in every six children, totaling 15 million, in Nigeria will face hunger starting from June 2024. This projection indicates a 25% increase compared to 2023 figures, with conflicts, banditry, and soaring food prices being the primary contributing factors. This surge translates to an […]

World Bank bans Nigerian companies, CEO over fraudulent practices
News

Internet access cut poverty, boosted employment in 2023 – W’Bank

The World Bank has revealed that exposure to internet access after more than three years resulted in a 7% reduction in extreme poverty in Nigeria and Tanzania. This exposure resulted in an 8% rise in labour force participation and pay employment. The bank issued a new brief that read: “In 2023, a World Bank flagship report found that […]

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