Peter Obi
Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has raised fresh concerns over Nigeria’s worsening poverty crisis, warning that the country is sliding deeper into hardship while political actors remain preoccupied with power struggles.
In a post on his verified X (formerly Twitter) handle titled “While Politicians Jostle, Poverty Deepens,” Obi said Nigeria is facing a disturbing reality, with 62 per cent of the population — about 141 million people — living in poverty.
“As we politicians scramble for positions and vie for control of party structures—often sharing posts even before elections are concluded—a harsh truth confronts our nation: a staggering 62% of Nigerians—roughly 141 million people—are ensnared in poverty,” Obi wrote.
He described the situation as alarming, noting that more than half of Nigeria’s population now lives in severe deprivation, even as other countries continue to lift millions of citizens out of poverty.
Citing World Bank data, Obi said the number of Nigerians living in poverty rose sharply from 81 million in 2019 to about 139 million in 2025. He added that between 2023 and 2024 alone, poverty figures jumped from 115 million to 129 million, representing 14 million newly impoverished Nigerians in just one year.
“Projections for 2026 suggest that this figure will reach around 141 million, meaning an additional 26 million Nigerians will be thrust into poverty between 2023 and 2026,” he stated.
The former governor referenced the Nigeria Economic Outlook 2026 report titled “Turning Macroeconomic Stability into Sustainable Growth,” which he said confirms the grim outlook.
“It is estimated that by 2026, an overwhelming 141 million people—62% of the population—will be living in poverty,” Obi wrote, adding that weak income growth and persistently high living costs continue to worsen the situation despite recent stabilisation efforts.
According to him, most Nigerians are unable to earn enough to offset rising expenses, even if headline inflation moderates.
“Low-income households are especially at risk, as food constitutes up to 70% of their total spending, leaving them acutely vulnerable to food inflation and price shocks,” he said.
Obi warned that rising poverty is eroding purchasing power, shrinking demand, and putting intense pressure on micro, small and medium-sized enterprises (MSMEs) that depend on local consumers.
“A sustained increase in poverty could unravel public finances, erode human capital, and impede economic recovery unless we see robust job creation, productivity growth, and effective social protection programs,” he added.
He also compared Nigeria’s trajectory with countries such as India and Indonesia, which he said have made remarkable progress through sustained investment in education, health and social protection.
“India successfully reduced extreme poverty from 35–40% in 2000 to an astonishing 5.3% today. Indonesia, too, has made significant strides, cutting poverty from around 30% in 2000 to roughly 8%,” Obi noted, adding that Nigeria’s poverty rate has instead climbed from about 40 per cent in 2000 to 62 per cent today.
On human development, Obi observed that while countries with similar Human Development Index (HDI) scores as Nigeria in 2000 have advanced significantly, Nigeria has lagged behind.
“By 2025, while India and Bangladesh surged to 0.685, and Indonesia rose to 0.74, Nigeria languished at 0.53, remaining entrenched in the low human development category after 25 years,” he said.
Raising a moral and national question, Obi asked: “Can we continue to tolerate the reality that a child born in Nigeria today faces one of the highest risks of being born into poverty anywhere in the world?”
He warned that the scale of poverty represents not just a policy failure but a serious threat to Nigeria’s future, insisting that urgent action is required.
“The time for complacency has passed. Structural reforms—macroeconomic stability, investment in agriculture, food supply, logistics, education, health, productivity, and large-scale job creation—are no longer optional; they are imperative,” Obi stressed.
He concluded his post with a message of hope, declaring: “A New Nigeria is POssible.”
