World Bank Projects Rising Poverty in Nigeria Despite Resource Wealth

The World Bank Group has forecasted that poverty levels in Nigeria will increase by 2027, despite the nation’s abundant natural resources.

This projection was made in the latest edition of the Africa Pulse report, presented during the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, D.C.
The report highlights that sub-Saharan Africa continues to record the highest rate of extreme poverty globally, with a majority of the poor population concentrated in a handful of countries, including Nigeria.