Former presidential candidate and political leader, Peter Obi, has expressed deep concern over a new report highlighting Nigeria’s growing poverty crisis.
In a statement on his official channels, Obi referenced a policy study released by Agora Policy, supported by the Nigeria Economic Stability and Transformation Programme and the United Kingdom’s Foreign, Commonwealth and Development Office. The study shows that Nigeria’s poverty rate has surged from approximately 40% before the current economic reforms to over 63% today.
“Explicitly showing that the economic reforms of this administration have pushed more Nigerians into poverty than ever experienced in our dear nation,” Obi wrote.
With Nigeria’s population estimated at over 220 million, the report suggests that more than 140 million Nigerians now live in poverty. According to Obi, families nationwide are struggling to afford basic necessities such as food, transportation, rent, and healthcare.
He highlighted the dire coping strategies Nigerians are adopting:
> “Across the six geopolitical zones of Nigeria, families report painful coping strategies, reducing food consumption, trekking instead of using public transport, having no electricity to use, and borrowing simply to survive. Small businesses, which are the backbone of our economy, are shutting down.”
Obi criticized the administration’s approach to economic reform, emphasizing that an economy cannot be said to be improving if the majority of its citizens are becoming poorer. He contrasted the growing hardship with what he described as lavish spending by political leaders:
> “What makes this situation even more troubling is the contrast between the growing hardship faced by ordinary Nigerians and the continued pattern of lavish and insensitive spending by those in power. At a time when citizens are tightening their belts, struggling to eat, and watching their businesses collapse, the politicians continue to spend huge budgets on their comfort and other non-essential extravagances. Leadership must lead by example, especially during difficult times. You cannot ask the citizens to fast while you feast. Sacrifice must begin from the top.”
Obi called for a people-centered approach to economic reform that prioritizes the protection of vulnerable households while promoting fiscal sustainability:
> “True economic reform must be people-centred. It must protect the most vulnerable while pursuing fiscal sustainability. Reforms that deepen poverty, widen inequality, and crush small businesses cannot be described as successful.”
He concluded with a call for accountable leadership and urgent policy implementation to support development, small businesses, and the well-being of Nigerians.