By Kabiru Abdulrauf
As Nigeria pushes ahead with far-reaching economic reforms, the World Bank has raised concern that the country’s recent stabilisation efforts may fail to deliver tangible benefits to its citizens unless they are swiftly translated into real improvements in living standards.
Speaking in Abuja at the launch of the October 2025 Nigeria Development Update (NDU), themed “From Policy to People: Bringing the Reform Gains Home,” the World Bank Country Director for Nigeria, Mathew Verghis, warned that about 139 million Nigerians are currently living in poverty , a figure that underscores the urgency of ensuring inclusive economic growth.
Verghis, making his first appearance at the NDU launch since assuming office three months ago, described Nigeria’s reforms, particularly in the exchange rate unification and petroleum subsidy removal as “foundational steps” capable of reshaping the nation’s long-term trajectory.
He compared the ongoing reform efforts to India’s economic liberalisation in the early 1990s, calling it a rare opportunity that Nigeria must “seize decisively or risk losing.”
The NDU, the World Bank’s flagship biannual report, reviews key economic trends and challenges across the country. The October edition reflects both optimism and caution, acknowledging fiscal reforms and market corrections while highlighting deep-seated vulnerabilities, including poverty, inflation, and insecurity.
Indeed, the growing insecurity continues to threaten progress in several parts of the country. In Zamfara State, bandits reportedly abducted Mallam Sadis Isa, Chairman of the Council of Scholars in Gummi Local Government Area, alongside several other passengers along the Gusau\Gummi highway.
Eyewitnesses said the attackers blocked the road and intercepted vehicles, whisking away an unspecified number of travellers. The incident, shared by a security analyst on X (formerly Twitter), has yet to elicit an official statement from either the police or the Zamfara State Government.
The abduction underscores the grim reality of rising insecurity across northern Nigeria, where banditry, kidnappings, and rural violence continue to disrupt livelihoods and economic activities.
For many observers, the dual challenge of poverty and insecurity represents a major test for the Tinubu administration’s reform agenda. While policy changes have laid the groundwork for long-term recovery, experts warn that without decisive action to tackle the human and security dimensions, Nigeria risks seeing its reform dividends eroded before they reach the people.
