The World Bank has projected that Nigeria’s population will balloon by about 130 million people by 2050, pushing the nation’s headcount far beyond its current 220 million and intensifying pressure on its economy and labor market.
Speaking at the 2025 World Bank–IMF Annual Meetings Plenary, the Bank’s President, Ajay Banga, described Africa’s population growth as “staggering,” warning that the continent will be home to one in every four people on Earth by mid-century.
Banga stressed that job creation must be the core of every nation’s development and security strategy, noting that global youth unemployment could become a defining challenge.
“By 2050, over 85% of the world’s population will live in developing countries,” Banga said. “Some 1.2 billion young people will enter the workforce within the next 10 to 15 years—competing for just 400 million jobs. With the right investments, we can unlock a powerful engine of global growth.”
Highlighting the Bank’s reforms, Banga revealed that internal metrics have been trimmed from 153 to 22 key outcome indicators, boosting efficiency. Financial capacity has also expanded by $100 billion, while annual financing grew from $107 billion to $119 billion in two years.
Other achievements include connecting 60 million people to electricity, helping 20 million farmers access modern technology and markets, enabling 70 million to gain education or vocational skills, and improving health and nutrition services for 300 million people.
The Bank is also advancing anti-corruption partnerships with over 120 governments, deploying data-driven tools, digital IDs, and AI systems to track illicit financial flows and improve transparency.
“We’re now working with 26 more governments to fight corruption and strengthen trust through data,” Banga added.
With Africa’s youth population rising fast, the World Bank says sustainable jobs and digital transformation will determine whether the continent’s population boom becomes a crisis or a catalyst for global growth.
Comments