The World Bank on Thursday projected that poverty in Nigeria will increase by 3.6 percentage points over the next five years, rising through 2027.

This was contained in the Bank’s Africa’s Pulse report released during the ongoing Spring Meetings of the International Monetary Fund, IMF, and the World Bank in Washington, DC.

The report paints a troubling outlook for poverty reduction in Nigeria, stressing that despite some recent gains in economic activity, especially in the non-oil sector during the last quarter of 2024, structural issues related to resource dependence and national fragility are likely to hinder progress.

The World Bank said Nigeria and other resource-rich and fragile countries in Sub-Saharan Africa, will experience an exacerbating poverty situation, unlike non-resource-rich countries, which are expected to see faster poverty reduction.

“Poverty in resource-rich, fragile countries—including large economies like Nigeria and the Democratic Republic of Congo—is projected to increase by 3.6 percentage points between 2022 and 2027,” the report stated.

The report underscores that Sub-Saharan Africa continues to have the highest extreme poverty rate globally, with a disproportionate concentration of the poor: In 2024, 80% of the world’s 695 million extreme poor lived in Sub-Saharan Africa.

The report further said that within the region, half of the 560 million extreme poor were located in just four countries.

In comparison, South Asia accounted for 8%, East Asia and the Pacific 2%, the Middle East and North Africa 5%, and Latin America and the Caribbean 3%.

Resource-rich countries are expected to lag in poverty reduction due to slowing oil prices and weak fiscal structures. Conversely, non-resource-rich countries are benefiting from high agricultural commodity prices, which are fueling stronger growth despite fiscal pressures.

This follows a well-established pattern whereby resource wealth combined with fragility or conflict is associated with the highest poverty rates—averaging 46% in 2024, which is 13 percentage points higher than in non-fragile, resource-rich countries,” the report added.

The World Bank, in light of these projections, recommends that Nigeria and similar economies focus on improving fiscal management and building a stronger fiscal contract with citizens to promote inclusive economic development and long-term poverty alleviation.

The Chief of Army Staff (COAS) Lieutenant General Olufemi Oluyede has charged Nigerian Army troops to make necessary sacrifices to maintain peace and security in the nation. The COAS gave the charge today while addressing troops of 22 Armoured Brigade, Nigerian Army Institute of Science Education and Technology and those of the Nigerian Army College of Education, Ilorin.

The COAS assured the troops of his commitment to improve their welfare by giving adequate attention to Barracks infrastructure, improvement of schools for their children, medical services for their families and provision of necessary kits and platforms to enable them perform their jobs satisfactorily. Lieutenant General Oluyede noted that troop’s Ration Cash Allowance was recently enhanced to spur them to make more sacrifices in keeping the nation peaceful and united. He stated that without a peaceful environment, no form of development can take place. He therefore enjoined the troops to strive to eliminate all threats to peace and security of the nation.

The COAS further urged the troops to go all out to ensure criminals do not have any foothold in Kwara State and beyond. While reminding the troops that Nigerians are looking up to them to keep the nation safe secured and united, he assured them of his unflinching support to ensure that they succeed in all their assigned tasks.

In a statement signed by Appolonia Anele Acting Director Army public relations said the Commander 22 Armour Brigade, Brigadier General Ezra Barkins, the Commandant Nigerian Army Institute of Science Education and Technology, Brigadier General Damian Dieke as well as the Provost, Nigerian Army College of Education Brigadier General Chidi Echebiwe in their separate briefings, highlighted the activities and challenges of their respective formations and institutions.

The Kano Electricity Distribution Company (KEDCO) has renovated Sallari Special Primary School in Babban Giji, underscoring its commitment to Corporate Social Responsibility (CSR) and community development.

Speaking during the commissioning ceremony, Abubakar Yusuf, Managing Director of KEDCO, emphasized the company’s belief that a nation’s strength lies in its education system. “Meaningful corporate success is measured not only by profit but by our impact on the communities we serve,” Yusuf said.

Yusuf dismissed the notion that KEDCO solely distributes electricity and collects revenue, noting that the company actively contributes to socio-economic development. “We complement the efforts of the Federal, State, and Local Governments in improving the lives of our host communities,” he stated.

Under its School Outreach Programme (SOP), KEDCO undertook various renovations, including the refurbishment of classrooms and a staff room to create a more conducive learning environment. The company also rehabilitated the school’s water system, ensuring access to clean drinking water for pupils and staff.

Kumbotso Local Govt Chairman presiding over the commissioning

As part of the initiative, KEDCO provided 135-seater chairs and tables to accommodate students, refurbished staff room furniture, and distributed exercise books to all pupils. “Every child deserves a dignified place to learn,” Yusuf remarked, adding that the gesture was a declaration of trust and a long-term investment in the community’s future.

Chairman of Kumbotso Local Government, Ahmad Muhammad Ibrahim Sekure, praised the initiative, highlighting the importance of education. “We must seek both Islamic and Western education to empower future generations,” Sekure said.

Inside the renovated classrooms

Sekure also disclosed that the local government had allocated ₦600 million for school renovations, reinforcing its commitment to improving educational infrastructure. “Investment in education is an investment in our future,” he asserted.

Yusuf reaffirmed KEDCO’s pledge to collaborate with government institutions, community leaders, and residents to foster initiatives that uplift and inspire. “Together, we must light up not only homes and streets but minds and futures,” he concluded.