World Bank Group President Ajay Banga has projected that Nigeria’s population will increase by roughly 130 million people by 2050, positioning the country among the world’s most populous nations.
Gatekeepers News reports that speaking at 2025 annual meetings of International Monetary Fund (IMF) and World Bank, Banga highlighted Nigeria’s rapid demographic growth.
The president noted that the United Nations Population Fund currently estimates the country’s population at 237.5 million. He said, “Nigeria will swell by about 130 million, firmly establishing itself as one of the most populous nations in the world.”
Banga also discussed population trends in other African countries, saying Zambia will gain 700,000 people annually, while Mozambique’s population is expected to double by mid-century.
He said, “We are living through one of the great demographic shifts in human history”, adding that by 2050, over 85% of the global population will reside in today’s developing countries.
The World Bank further warned that within the next 10 to 15 years, 1.2 billion young people will enter the workforce, competing for roughly 400 million jobs—a situation that could create a significant employment gap.
The World Bank president emphasised that Africa will experience the fastest population growth, becoming home to one in four people by 2050.
He stressed that deliberate investments focused on opportunity rather than need could transform this demographic surge into a major engine of global growth.
However, he cautioned that without such interventions, optimism among young populations could turn into despair, driving instability, unrest, and mass migration. Banga reiterated, “This is why jobs must be at the center of any development, economic, or national security strategy.”
Explaining the broader significance of employment, he remarked, “A job is more than a paycheck. It is what allows both women and men to pursue their aspirations. It’s purpose. It’s dignity. The anchor that holds families steady and the glue that keeps societies together. It is the straightest line to stability—and the hardest progress to reverse once achieved.”
Banga concluded by highlighting the World Bank’s efforts to operate with greater speed, simplicity, and impact. Over the past two years, average project approval times have fallen from 19 months to 12, with some initiatives now approved in under 30 days, reflecting the institution’s commitment to adapting its approach to the realities of a rapidly changing global workforce.
