Former presidential candidate Peter Obi has raised concerns that more than half of Nigeria’s population now live in poverty, even as politicians remain focused on power rather than people’s welfare.
Speaking on his 𝕏 account on Thursday, Obi lamented: “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.”
He cited World Bank data showing that the number of Nigerians living in poverty has surged from 81 million in 2019 to about 139 million in 2025, with projections indicating that the figure will reach 141 million by 2026. Obi explained: “In just one year, from 2023 to 2024, the number of impoverished Nigerians jumped from 115 million to 129 million, an increase of 14 million individuals.”
According to him, the Nigeria Economic Outlook 2026 report underscores that weak income growth and persistently high living costs will continue to worsen poverty levels. “Most Nigerians will not experience income growth sufficient to counter escalating costs,” he warned, adding that inflation pressures from energy, logistics, and exchange-rate fluctuations remain a heavy burden.
Obi stressed that low-income households are especially vulnerable: “Food constitutes up to 70% of their total spending, leaving them acutely exposed to food inflation and price shocks.” He cautioned that this trend undermines consumer demand, weakens small businesses, and could destabilize public finances unless urgent reforms are introduced.
Drawing comparisons with other nations, Obi noted: “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%, all through unwavering investments in education, health, and social protection.”
By contrast, he said Nigeria’s poverty rate has climbed from about 40% in 2000 to 62% today. “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 asked.
Obi concluded with a call for urgent action: “The fact that 141 million Nigerians are living in poverty is not merely a national failure; it is a blatant threat to our future. 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.”
