Former Anambra State governor and Labour Party’s 2023 presidential candidate, Peter Obi, has criticised Nigerian politicians for prioritising internal power struggles while poverty continues to worsen across the country.
In a statement posted on his verified X account on Friday, titled “While Politicians Jostle, Poverty Deepens,” Obi said political actors are preoccupied with vying for positions and control of party structures as millions of Nigerians sink deeper into poverty.
“As we politicians scramble for positions and vie for control of party structures… 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 the number of Nigerians living in poverty rose from 81 million in 2019 to about 139 million in 2025, with projections indicating it could reach 141 million by 2026. He added that between 2023 and 2024 alone, the number of impoverished Nigerians increased by 14 million.
Obi referenced the Nigeria Economic Outlook 2026 report titled “Turning Macroeconomic Stability into Sustainable Growth,” which projects that 62 per cent of Nigerians will be living in poverty by 2026, despite recent efforts at economic stabilisation.
According to him, weak income growth and persistently high living costs are expected to continue worsening poverty levels, particularly for low-income households that spend up to 70 per cent of their income on food.
He warned that rising poverty is eroding purchasing power, weakening demand, and placing pressure on micro, small and medium-sized enterprises that rely on local consumers.
Obi also cautioned that sustained poverty could undermine public finances, erode human capital and stall economic recovery without strong job creation, productivity growth and effective social protection programmes.
Contrasting Nigeria’s experience with countries such as India and Indonesia, Obi said both nations significantly reduced poverty through investments in education, healthcare and social protection, while Nigeria’s poverty rate has risen from about 40 per cent in 2000 to 62 per cent today.
He called for urgent structural reforms, stressing that macroeconomic stability, investment in agriculture, education, health, logistics and large-scale job creation are now imperative for the country’s future.
