If you were told the exact day something awful would happen to you, how would you react? What actions would you start setting in motion? The World Bank just predicted that the state of Nigerians will turn for the worse as over half the population will live in abject poverty in the year 2027.
In a report released during the IMF and World Bank Spring Meetings, the bank delivered a bleak forecast: poverty in Nigeria will increase by 3.6 percentage points between 2025 (49.7%) and 2027(56%). Nigeria, once celebrated as the “Giant of Africa”, is now grouped among resource-rich, fragile nations like the Democratic Republic of Congo, the only set of countries expected to see poverty worsen over the next few years. Let that sink in.
Despite oil reserves and natural wealth, Nigeria continues to slide, not because we lack resources, but because of how we manage them. The report spells it out: countries like ours are failing to grow because oil prices are no longer giving the cushion they used to. And without real diversification or stable institutions, the poorest Nigerians are being crushed under economic pressure.
The Rise of the “Sachet Economy”
If you want a glimpse of just how bad it’s gotten, look around your neighborhood supermarket. You’ll notice a growing trend: items that used to be sold in standard sizes now appear in sachet or half portions. Not just sachet liquor or tied sugar anymore, now you can buy half loaves of sliced bread, corn flakes sold in derica tins measurements, even dishwashing liquid in tiny sachets. It’s no longer survival of the fittest; it’s survival of the cheapest.
We are living through the rise of the “sachet economy”; an economy where consumers, too broke to afford full units, are forced to buy their sizes in rations. It’s a silent indicator that income levels have plummeted while the cost of living skyrockets. And if the World Bank is right, this reality will only deepen.
What’s Driving This Crisis?
While President Tinubu’s administration has launched a series of bold economic reforms, removing fuel subsidies, floating the naira, and pushing for fiscal rebalancing, the effects have been severe. Inflation has soared, especially on food. Hunger protests have broken out in several states. People who were barely surviving are now being completely locked out of basic needs.
To make matters worse, Nigeria’s population is booming; every year, more young people enter the labor market, yet there are not enough jobs, not enough opportunities, and frankly, not enough hope to go around. Urbanisation might offer a path forward, but only if cities can provide services, jobs, and infrastructure, but right now, that feels far off.
So, What Can Be Done?
This report is not just a warning, it’s a countdown. We have just under two years before the poverty rate hits new highs. The question is: will we do anything about it?
At Inside Success Nigeria, we believe that even in the face of crisis, there are ways to fight back with knowledge and skill. We’re not just here to report on problems; we’re here to help create solutions.
That’s why we’re expanding our youth empowerment workshops. From learning digital skills like writing, editing, and content strategy, to creative side hustles like wig revamping, catering, and even emerging fields like Web3, we are curating affordable programs aimed at helping young Nigerians break the poverty cycle. These aren’t just fancy buzzwords; they are tools that can turn frustration into income. It may not fix the system overnight, but it’s a start. Because if poverty is rising, we need to rise faster.
Final Thoughts
The World Bank may have predicted doomsday, but predictions are not prophecies. They can be changed. What’s missing right now is intentional effort from leaders, institutions, and from every Nigerian who refuses to accept “sachet living” as the new normal.
If you’re reading this and thinking, “I don’t know where to start,” we hear you. That’s why Inside Success Nigeria exists: to bring you stories, opportunities, and real pathways to growth.
Subscribe to Inside Success Nigeria and follow us on Instagram @InsideSuccessNigeria to stay updated on programs, workshops, and empowering stories. This isn’t the time to wait for rescue, it’s the time to prepare, resist, and rebuild before 2027 gets here.
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