NO fewer than 141 million Nigerians are expected to live in poverty this year, Price water house Coopers (PwC) revealed in its Nigeria Economic Outlook 2026 report.
The international accounting firm’s latest report titled: “Turning macroeconomic stability into sustainable growth,” projected deteriorating poverty levels of about 62 per cent of Nigerian population in the year preceding the election year 2027.
“Despite macroeconomic gains, poverty is projected to rise to 62 per cent, affecting 141 million Nigerians by 2026,” PwC said.
The report showed that Nigeria’s economy was expected grow by 4.49 per cent in 2026, inflation to moderate at 12.94 per cent, and the naira to remain stable in the N1,440-1,500-dollar range.
“Approximately 33.1 million Nigerians may face food insecurity due to economic hardship and violence in northern food-producing regions. Food accounts for up to 70 per cent of consumption among poorer households,” it added.
According to the report, recent economic reforms have yet to translate into improved household welfare, as weak real income growth and rising living costs are projected to push more families into poverty over the next two years.
The report stressed that in the short term, most Nigerians were unlikely to experience income increases substantial enough to counter the pressure of rising living costs.
PwC described the consumption patterns of low-income Nigerians as a major driver of worsening poverty.
The report warned that as hardship deepened, domestic consumption might weaken, productivity gains could slow, and pressure on public finances could mount.
Without aggressive job creation, productivity improvements, and effective social safety nets, PwC cautioned, the goal of reducing poverty might be elusive.
In 2025, The ICIR reported that PwC warned of rising inflation, high interest rates, and the depreciation of the naira could push an additional 13 million Nigerians below the national poverty line.
Similarly, the World Bank said in its Nigeria Development Update that Nigeria’s entrenched mass poverty could begin to ease slightly in 2027, signalling the first positive shift in nearly a decade.
The lender forecast that poverty in Nigeria would peak in 2026 at 62 per cent, around 141 million people, before a marginal decline to 61 per cent in 2027, equivalent to roughly 140 million Nigerians.
Nanji is an investigative journalist with the ICIR. She has years of experience in reporting and broadcasting human angle stories, gender inequalities, minority stories, and human rights issues. She has documented sexual war crimes in armed conflict, sex for grades in Nigerian Universities, harmful traditional practices and human trafficking.