World Bank Projects Nigeria’s Population to Hit 367 Million by 2050 — Banga Warns of Jobs Crisis
Nigeria’s population is projected to surge by nearly 130 million before the year 2050, according to fresh estimates shared by Ajay Banga, President of the World Bank Group, during the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
Data obtained by PulseNets from the United Nations Population Fund (UNFPA) indicates that Nigeria’s current population stands at approximately 237.5 million, positioning the country as Africa’s demographic giant.
Banga, while speaking at the global gathering, observed that this massive increase would further cement Nigeria’s place among the world’s most populous nations.
“Nigeria’s population will swell by roughly 130 million over the next 25 years — firmly securing its status among the largest nations on Earth,” he stated.
The World Bank chief also drew attention to Africa’s accelerating population growth, citing examples such as Zambia, which he noted adds about 700,000 people annually, and Mozambique, where the population is projected to double by 2050.
“We are living through one of the greatest demographic shifts in human history,” Banga remarked.
He explained that by 2050, more than 85 percent of the world’s population will reside in countries currently classified as developing economies. Within the next 10 to 15 years, Banga said, about 1.2 billion young people will enter the global workforce, competing for only 400 million available jobs.
“That leaves a very large gap,” he warned.
According to figures reported by PulseNets, Banga further noted that in the coming decade, four young people will join the global workforce every second.
“With their energy and ideas, they will shape the century ahead,” he told PulseNets.
“By the time I finish this speech, tens of thousands will have crossed that threshold — full of ambition and impatient for opportunity.”
Highlighting Africa’s central role in this global transformation, Banga described the continent as the epicenter of the world’s fastest population growth, predicting that by mid-century, one in every four people on Earth will be African.
He stressed that the continent’s demographic boom, if properly managed, could become a powerful engine for global economic growth.
“With the right investments focused on opportunity rather than aid, Africa’s population surge could redefine the global economy,” Banga told PulseNets.
However, he issued a stark warning about the dangers of inaction.
“Without deliberate and coordinated efforts, today’s optimism could turn into despair — fueling instability, unrest, and mass migration with global consequences,” he cautioned.
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Banga concluded by underscoring that job creation must be at the core of every development and security agenda, stressing that employment is the true cornerstone of sustainable progress.
“Jobs must sit at the heart of any development, economic, or national security strategy,” he said firmly.
