Former Labour Party presidential candidate Peter Obi has lamented that as politicians scramble for power, Nigerians continue to struggle in deepening poverty.
In a post on his verified X handle on Thursday, Obi said while other nations are lifting millions out of hardship, Nigeria is regressing.
Obi said the alarming statistic of roughly 62% of Nigerians representing 141 million people living in poverty, indicates that more than half of the nation’s population is living in dire conditions.
“As we politicians scramble for positions and vie for control of party structures, often sharing posts even before elections are conclude, a harsh truth confronts our nation.
“According to World Bank data, the number of Nigerians living in poverty surged from 81 million in 2019 to approximately 139 million in 2025. 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.
“Projections for 2026 suggest that this figure will reach around 141 million, meaning an additional 26 million Nigerians will be thrust into poverty between 2023 and 2026.
“The Nigeria Economic Outlook 2026 report, titled “Turning Macroeconomic Stability into Sustainable Growth,” reinforces these grim projections. It is estimated that by 2026, an overwhelming 141 million people, 62% of the population will be living in poverty.
“Despite recent attempts at stabilization, the report underscores that weak real income growth and persistently high living costs will continue to exacerbate poverty.
“Most Nigerians will not experience income growth sufficient to counter escalating costs. Although headline inflation may moderate, sustained high prices stemming from energy, logistics, and exchange-rate fluctuations will remain a burden.
“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.
“This rising tide of poverty weakens purchasing power, diminishes demand, and places immense pressure on micro, small, and medium-sized enterprises reliant on local consumers. A sustained increase in poverty could unravel public finances, erode human capital, and impede economic recovery unless we see robust job creation, productivity growth, and effective social protection programs.
“Our trajectory starkly contrasts with nations like India and Indonesia. 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.
“Meanwhile, Nigeria has witnessed a rise in poverty from about 40% in 2000 to a distressing 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? The fact that 141 million Nigerians are living in poverty is not merely a national failure; it is a blatant threat to our future. The time for complacency has passed. 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,” he wrote.
