World Bank Finally Voiced Out: Nigeria’s Social Protection Spending Has No Impact On Poverty

A new World Bank report has revealed that Nigeria’s social protection programs are having virtually no impact on poverty reduction, despite government claims of multiple intervention schemes. According to the findings, the country allocates only 0.14% of its GDP to social protection, far below global and regional averages, resulting in a mere 0.4 percentage point reduction in the national poverty headcount.

Key Points:

Nigeria spends only 0.14% of GDP on social protection, below global averages.
This minimal spending has reduced poverty by just 0.4 percentage points.
Poor program design and benefit dilution limit effectiveness.
Only 44% of social benefits actually reach poor Nigerians.
Nigeria depends heavily on foreign donors for 60% of safety-net funding.
The National Social Safety Nets Programme shows better targeting and impact.
Larger poor households receive the same benefits as smaller ones, reducing the impact.

The report underscores an urgent need for increased funding, better targeting, and reduced donor dependency to create meaningful social protection for Nigeria’s most vulnerable populations.

Sources: Channels Television