In a new policy advisory, the World Bank has urged the Federal Government of Nigeria to intensify social protection programs as inflation continues to squeeze millions into poverty.
The recommendation comes amid a sharp rise in food and transport costs.
The bank noted that while subsidy removals and currency devaluation were necessary reforms, they have disproportionately affected low-income Nigerians.
It called for expanded cash transfer programs and agricultural support schemes.
According to the report, Nigeria’s inflation is now one of the highest in sub-Saharan Africa, and urgent action is needed to prevent worsening inequality.
The bank also advised investment in productivity-boosting sectors like education and health.
