Poverty levels in Nigeria are expected to worsen significantly over the next two years, with as many as 141 million Nigerians, representing about 62 per cent of the population, projected to be living in poverty by 2026, according to PwC.
The projection is contained in PwC’s Nigeria Economic Outlook 2026, released yesterday titled “Turning Macroeconomic Stability into Sustainable Growth”, which warns that recent policy adjustments aimed at stabilising the economy are yet to translate into tangible welfare gains for households.
PwC noted that weak real income growth, combined with persistently high living costs, is likely to push millions more Nigerians into poverty despite expectations that headline inflation may gradually moderate.
The firm estimates that Nigeria’s poverty rate will rise to 62 per cent by 2026, reflecting the compounding effects of sluggish income growth and lingering inflationary pressures.
According to the report, most Nigerians are unlikely to see income increases that meaningfully offset rising costs in the near term.
As a result, households, particularly those at the lower end of the income spectrum, remain highly vulnerable to economic shocks.
