Report: 17.9 Million Nigerians Fall Into Multidimensional Poverty Over Three Years

​Poverty metrics are not just distant macroeconomic statistics; they directly reflect the daily economic pressures households face at local markets and utility counters. Highlighting these findings sheds light on the rising cost of living, helping citizens understand broader economic shifts while serving as a crucial call for targeted social intervention.

A new joint report published by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI) reveals that roughly 17.9 million Nigerians plunged into multidimensional poverty between 2021 and 2024.

​As reported by The Punch Newspaper, this sharp increase pushed Nigeria’s overall multidimensional poverty rate from 33 percent to 38.7 percent, bringing the total number of citizens living in severe economic deprivation to approximately 90.1 million. The findings indicate that Nigeria recorded the largest single surge in poverty among all nations tracked during the period.

​The dramatic shift is largely attributed to severe macroeconomic pressures, including persistent double-digit inflation, currency devaluation, rising transport costs, and reduced household purchasing power following key structural reforms.

​Development experts warn that urgent policy intervention is required to cushion the shock on vulnerable populations. Stakeholders emphasize that government initiatives must focus on expanding social safety nets, strengthening primary healthcare and basic education, and targeted economic stimulus programs to prevent further decline into destitution.

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