Peter Obi, former presidential candidate, has warned that poverty is deepening across Nigeria even as politicians focus on power struggles and control of party structures, describing the situation as a grave threat to the country’s future.
In a statement posted on X on Thursday, Obi said while political actors were “scrambling for positions and vying for control of party structures—often sharing posts even before elections are concluded,” an estimated 62 percent of Nigerians, about 141 million people, were living in poverty.
“A harsh truth confronts our nation,” Obi wrote. “A staggering 62% of Nigerians—roughly 141 million people—are ensnared in poverty. This alarming statistic indicates that more than half of our population is living in dire conditions.”
Citing World Bank data, Obi noted that the number of Nigerians living in poverty rose from about 81 million in 2019 to nearly 139 million in 2025. He added that poverty worsened sharply within a short period, increasing from 115 million people in 2023 to 129 million in 2024.
“In just one year, from 2023 to 2024, the number of impoverished Nigerians jumped by 14 million,” he said, adding that projections for 2026 indicate the figure could reach 141 million, meaning “an additional 26 million Nigerians will be thrust into poverty between 2023 and 2026.”
Read also: Peter Obi raises alarm as unpaid allowances cast shadow over Super Eagles’ AFCON campaign
Obi referenced the Nigeria Economic Outlook 2026 report titled Turning Macroeconomic Stability into Sustainable Growth, which projects that by 2026, about 62 per cent of Nigeria’s population would be living in poverty. According to him, the report shows that weak income growth and persistently high living costs would continue to worsen the situation despite recent macroeconomic stabilisation efforts.
“Most Nigerians will not experience income growth sufficient to counter escalating costs,” Obi said. He warned that although headline inflation may moderate, high prices driven by energy, logistics and exchange-rate pressures would persist, hitting low-income households hardest.
He noted that food accounts for up to 70 per cent of spending among poor households, making them particularly vulnerable to food inflation and price shocks. According to him, the growing poverty crisis is weakening purchasing power, reducing demand and placing severe strain on micro, small and medium-sized enterprises dependent on local consumers.
“A sustained increase in poverty could unravel public finances, erode human capital, and impede economic recovery,” Obi said, unless Nigeria achieves “robust job creation, productivity growth, and effective social protection programmes.”
Drawing comparisons with other developing countries, Obi said Nigeria’s trajectory contrasts sharply with nations such as India and Indonesia. He noted that India had reduced extreme poverty from about 35–40 per cent in 2000 to 5.3 per cent, while Indonesia cut poverty from around 30 per cent to about 8 per cent through sustained investment in education, health and social protection.
“Meanwhile, Nigeria has witnessed a rise in poverty from about 40% in 2000 to a distressing 62% today,” he said.
Obi also highlighted Nigeria’s weak progress on human development, noting that in 2000, Nigeria, India, Bangladesh and Indonesia had comparable Human Development Index (HDI) scores. By 2025, however, Nigeria lagged behind, with an HDI of 0.53, compared with 0.685 for India and Bangladesh and 0.74 for Indonesia.
“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?” Obi asked.
He described the scale of poverty as “not merely a national failure” but “a blatant threat to our future,” calling for urgent structural reforms. According to him, macroeconomic stability, investment in agriculture, food supply, logistics, education, health, productivity and large-scale job creation are no longer optional.
