Nigeria’s Soaring Poverty Alarming, Says Obi of Onitsha

The Obi of Onitsha, His Majesty Igwe Nnaemeka Achebe, has expressed grave concern over the worsening economic hardship and deepening poverty across Nigeria, describing the situation as “critical and deeply troubling.”

Speaking during the 24th Ofala Festival held at his palace, Ime-Obi, Onitsha, the revered monarch lamented that millions of Nigerians are struggling to survive amid rising inflation, insecurity, and political distractions.

Igwe Achebe noted that while the nation grapples with widespread suffering, political actors are already engrossed in power games ahead of the 2027 general elections, forming alliances that appear driven by selfish interests rather than the welfare of citizens.

> “The political class seems to have shifted its attention entirely to 2027. These new alliances are not about service to the people but about self-preservation and material gain,” he stated.



‘Nigeria’s Poverty Rate Has Reached Alarming Levels’

Citing the World Bank’s Development Update, Igwe Achebe revealed that Nigeria’s poverty rate has risen sharply from 40 percent in 2018 to 60 percent in 2023, meaning the number of people living in poverty has jumped from 79 million to 104 million.

He lamented that many Nigerians now struggle to afford food, healthcare, transportation, and decent housing, warning that the worsening insecurity, particularly in the South-East, continues to cripple agricultural productivity and economic stability.

Call for Targeted Government Intervention

While acknowledging the government’s macroeconomic reforms, the Obi of Onitsha called for urgent, targeted relief measures to cushion the effects of hardship on vulnerable citizens.

> “We urge the government to implement direct palliatives that reach those most in need, bypassing bureaucratic bottlenecks that often derail such efforts,” he said.


He explained that the theme of this year’s Ofala Festival, “Njikọ na Ntachi” (Unity and Perseverance), was deliberately chosen to encourage resilience, empathy, and national unity in the face of current difficulties.

Insecurity and Economic Losses in the South-East

Addressing the worsening insecurity in the South-East, Igwe Achebe welcomed the conviction of Simon Ekpa in Finland, expressing hope that it would help curb violence and kidnappings in the region.

He cited intelligence reports indicating that insecurity and violent disruptions have caused an estimated ₦7.6 trillion in economic losses in the South-East since 2021.

> “We must all reflect on the immense damage caused by the actions of a few and work collectively toward peace, unity, and progress,” the monarch appealed.

Igwe Achebe urged Nigerians, especially the Igbo community, to rise above divisions and support efforts aimed at building a just, secure, and prosperous nation.