PwC Nigeria 2026 poverty projection
As we settle into the first week of 2026, many Nigerians are still busy setting their new year resolutions and praying for a better life. However, a recent report from the professional services firm PwC has dropped a heavy dose of reality on our collective expectations. According to their 2026 Nigerian Economic Outlook, the number of people living in poverty across the country could rise to a staggering 141 million this year.
This is not just a random figure on a balance sheet; it represents the daily struggle of millions of fathers, mothers, and youths who are trying to find their footing in an economy that seems to be in a permanent state of flux. For those of us observing the trends, this PwC Nigeria 2026 poverty projection is a loud wake up call that the road to recovery is still quite bumpy.
The weight of 141 million people struggling to survive
When you hear that 141 million people might fall below the poverty line, it means that almost two thirds of our population are facing what we locally call “sapa” on a massive scale. PwC points out that this increase is driven by the persistent rise in the cost of living and the fact that inflation has refused to go on a holiday. Despite various reforms and promises from the government, the average Nigerian still spends a significant portion of their income just to put food on the table.
The report suggests that if we do not see a drastic change in how prices are controlled, more households will find it difficult to afford basic necessities like healthcare and education. It is a sobering thought that in a land of plenty, so many are still worried about where the next meal will come from.
Why the 3 percent growth rate is not enough
The report projects that Nigeria’s GDP will grow by about 3.0 percent in 2026. On paper, any growth is good news, but in reality, this is where the “wahala” lies. Our population is growing at nearly the same rate, which means the economy is essentially standing still. To truly lift people out of poverty, PwC argues that we need a growth rate that is far higher than our population increase.
Currently, the sectors that should be driving this growth, such as manufacturing and trade, are still grappling with high interest rates and the volatility of the Naira. Without a more aggressive approach to industrialization, the 3 percent growth will remain a drop in the ocean that barely touches the lives of the 141 million people at risk.
The silent impact of inflation and exchange rate fluctuations
One of the biggest culprits identified in the PwC outlook is the double digit inflation that has become a permanent resident in our economy. The report highlights that food inflation, in particular, remains the biggest threat to the welfare of the common man.
Even though there are efforts to boost local production, the high cost of transportation and the lingering issues of insecurity in the food basket regions are keeping prices high. Additionally, the constant fluctuation of the exchange rate makes it difficult for businesses to plan, leading to higher costs that are eventually passed on to consumers.
For the professional editor looking at these figures, it is clear that until we stabilize the Naira and make the farms safe again, the poverty numbers will continue to climb.
Charting a path toward genuine economic resilience
Is there hope for 2026? PwC suggests that while the situation is dire, it is not impossible to fix. The key lies in policy consistency and a deliberate effort to support small and medium scale enterprises.
These businesses are the backbone of our economy, and if they can get access to cheaper credit and better infrastructure, they can create the jobs needed to pull people out of poverty. We also need to see the tax reforms being implemented with a human face, ensuring that the burden does not fall solely on those who are already struggling.
As we move further into the year, the goal should be to turn these projections around so that by December, we are talking about progress instead of poverty. The time for “grammar” is over; what we need now is action that reflects the reality on the streets.
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