◾Says 89 million Nigerians live below poverty line
According to the report released by The Cable on 2nd October, 2025, Nigeria has been ranked as the country with the second highest number of poor people in the world.
This disclosure is according to Yemi Kale, former Statistician-General of the National Bureau of Statistics and current Group Chief Economist at Afreximbank.
Speaking at The Platform Nigeria’s Independence Day event themed “Rebuilding Our Nation,” Kale disclosed that about 89 million Nigerians, representing roughly 40 percent of the population, currently live below the national poverty line.
He explained that only India surpasses Nigeria in terms of the number of people living in poverty.
Kale linked the situation to long-standing challenges such as poor policy decisions, delayed reforms, and inconsistencies in monetary and exchange rate policies, which he said have discouraged investment and slowed economic growth.
Kale stressed that although recent reforms in areas like fuel subsidy removal and exchange rate adjustments have been painful, they are necessary steps toward stabilizing the economy.
However, he noted that these reforms must be executed with integrity, proper planning, and adequate social protection to reduce the hardship on citizens.
The economist emphasized that addressing poverty requires both structural economic changes and deliberate efforts to support vulnerable groups, while creating an environment that encourages sustainable growth and investment.
