While Politicians Jostle for Power, Poverty Worsens — Obi

Former presidential candidate Peter Obi has raised fresh concerns over Nigeria’s rising poverty levels, warning that political infighting and competition for power are occurring alongside deepening economic hardship for millions of citizens.

In a statement shared on his verified X handle on Thursday, Obi said political actors are increasingly focused on internal party contests and power struggles while the number of Nigerians living in poverty continues to rise sharply.

“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,” he said.

Citing World Bank data, Obi noted that Nigeria’s poor population increased from 81 million in 2019 to about 139 million in 2025, with projections indicating the figure could reach 141 million by 2026.

He added that between 2023 and 2024 alone, the number of Nigerians living in poverty reportedly rose by 14 million, underscoring what he described as a worsening trend.

According to Obi, these projections align with findings from the Nigeria Economic Outlook 2026 report titled “Turning Macroeconomic Stability into Sustainable Growth,” which estimates that 62 per cent of Nigerians will be living below the poverty line by 2026, despite recent efforts to stabilise the economy.

“Despite recent attempts at stabilization, weak real income growth and persistently high living costs will continue to exacerbate poverty,” he stated.

He further warned that while inflation may moderate, high costs driven by energy prices, logistics challenges and exchange-rate pressures would continue to strain household incomes, particularly among low-income earners who spend a significant portion of their income on food.

“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,” Obi said.

The former Anambra State governor argued that rising poverty weakens purchasing power, reduces demand, and places added pressure on micro, small and medium-sized enterprises dependent on local consumption.

He cautioned that sustained poverty growth could undermine public finances, erode human capital and delay economic recovery without deliberate policy interventions.

Obi contrasted Nigeria’s trajectory with countries such as India and Indonesia, which he said have significantly reduced poverty through sustained investments in education, healthcare and social protection.

“Meanwhile, Nigeria has witnessed a rise in poverty from about 40% in 2000 to a distressing 62% today,” he said.

He also referenced comparative Human Development Index (HDI) data, noting that while countries with similar development standings to Nigeria in 2000 have made measurable progress, Nigeria has remained in the low human development category.

Describing the situation as a threat to national stability, Obi called for urgent reforms focused on economic inclusion and human development.

“The fact that 141 million Nigerians are living in poverty is not merely a national failure; it is a blatant threat to our future,” he said, adding that reforms in agriculture, education, healthcare, productivity and large-scale job creation are now “imperative.”