A review of newly released data by the National Bureau of Statistics (NBS) and the World Bank has painted a grim picture of Nigeria’s worsening economic realities, revealing that millions of citizens are being pushed deeper into poverty by surging food prices, inflation, and weak social protection systems.
According to the NBS report, Ekiti, Rivers, and Nasarawa States recorded the highest levels of food inflation in the country, standing at 28.6%, 24.18%, and 22.74% respectively. In sharp contrast, Bauchi State recorded the lowest rate at 2.81%, followed by Niger (8.38%) and Anambra (8.41%).
The alarming disparity in food prices across the country comes as the World Bank revealed that 27 percent of Nigerians can no longer afford healthy meals, even if they devoted their entire income to food.
The findings, contained in the Nigeria Development Update (October 2025 Edition), noted that “millions of Nigerians have been pushed deeper into poverty as rising inflation, sluggish economic growth, and weak social protection systems continue to erode living standards nationwide.”
According to the report, average consumption levels fell by 6.7 percent between 2019 and 2023, largely due to policy missteps and external shocks. The decline was said to be more severe in urban areas, where reliance on subsistence farming is low and households are more exposed to economic instability.
Citing data from the Nigeria Living Standards Survey (NLSS) 2022/23, the World Bank stated that 56 percent of Nigerians, more than one in two—were living in poverty by 2023, marking a steep rise from 40 percent in 2019.
It further highlighted the persistent regional divide, noting that poverty “remains elevated in the north of the country, where more than six in ten Nigerians are poor, compared to about three in ten in the south.” The northeast reportedly has the highest poverty incidence at over 80 percent, while the south-south recorded about 32 percent.
Perhaps the most troubling revelation is that the share of ultra-poor Nigerians—those unable to meet basic caloric needs even when spending all their income on food—increased from 14 to 27 percent between 2019 and 2023, equivalent to 139 million people.
The report added that although inflation began to ease in 2025, it remains high, volatile, and uneven, complicating economic recovery and widening inequality.
In a related report, SaharaReporters also noted that Nigeria currently has the highest number of people facing job-related challenges in Sub-Saharan Africa, with 98 million Nigerians struggling with unemployment or underemployment, according to the World Bank’s Africa’s Pulse Report (October 2025).
The report ranked the Democratic Republic of Congo (72 million), Ethiopia (62 million), Tanzania (40 million), and Uganda (27 million) behind Nigeria in the growing wave of job insecurity across the continent.
“In Sub-Saharan Africa, underemployment is extensive,” the report stated, “reflecting the inability of economies in the region to create the number of stable wage jobs needed for the growing population.”
Furthermore, the findings collectively underscore the severe impact of rising food prices, inflation, and policy inconsistencies on Nigerian households, as millions continue to struggle for survival amid deteriorating living conditions.
