8.10.2025
World Bank country director in Nigeria, Dr. Matthew Verghis, said despite indications Nigeria’s economy is on track to revival, over 139m Nigerians remain shackled by poverty and food inflation.
The World Bank country director in a press statement titled “From Policy to People: Bringing the Reforms Gains Home,” on Wednesday urged the Federal Government to embark on policies that have positive effects on the people.
Verghis stressed that growth has picked up, revenues has risen, debt indicators are improving, the foreign exchange market is stabilising, reserves are rising and inflation is finally beginning to trend downwards.
He, however, said despite these stabilisation gains, many Nigerians were still struggling with eroded purchasing power while poverty remained a pressing issue.
“Inflation is coming down, but not fast enough.
“These monetary and fiscal policies must be complimented by structural reforms aimed specifically at reducing food inflation, which is driven by deep-seated supply and market inefficiency.
“So the NDU builds on the public sector-led, private-sector-enabled growth agenda outlined in the previous edition,” Verghis stated.
