Politicians jockeying for power as Nigerians sink deeper into poverty — Obi

Former Anambra State governor and 2023 Labour Party (LP) presidential candidate, Peter Obi, has raised fresh concerns over Nigeria’s worsening poverty crisis, warning that the country is falling behind its peers while political leaders remain preoccupied with power struggles.

In a statement posted on his official X handle, Obi lamented that as politicians battle for positions and control of party structures, millions of Nigerians are being driven further into poverty. He said weak income growth, soaring living costs and poor social protection systems were compounding the hardship faced by ordinary citizens.

According to him, low-income households now spend as much as 70 per cent of their earnings on food, leaving little room for basic needs. Obi disclosed that about 62 per cent of Nigerians — an estimated 141 million people — currently live below the poverty line.

Citing World Bank figures, he noted that the number of Nigerians living in poverty rose from 81 million in 2019 to about 139 million in 2025, with an additional 14 million people falling into poverty between 2023 and 2024 alone. Projections, he added, suggest that by 2026, as many as 141 million Nigerians could be living in extreme hardship.

Obi, who recently aligned with the African Democratic Congress (ADC), referenced the Nigeria Economic Outlook 2026 report titled “Turning Macroeconomic Stability into Sustainable Growth,” which identified weak real income growth and persistently high living costs as major drivers of rising poverty. He observed that despite a moderation in headline inflation, increasing energy prices, logistics expenses and exchange-rate volatility continue to hit households hard, especially the poor.

“The rising tide of poverty weakens purchasing power, stifles small businesses and threatens economic recovery,” Obi warned. He contrasted Nigeria’s situation with countries such as India and Indonesia, which have significantly reduced poverty over the past two decades through sustained investments in education, healthcare and social protection.

He further expressed concern that children born in Nigeria today face one of the highest risks globally of being born into poverty, describing the trend as both a national failure and a serious threat to the country’s future.

Obi called for urgent and far-reaching structural reforms, including increased investment in agriculture, food systems, logistics, education, healthcare and large-scale job creation. He stressed that such measures were no longer optional but critical, urging leaders to place the welfare of citizens above political interests.

“Nigeria’s poverty rate has climbed from about 40 per cent in 2000 to 62 per cent today,” he said, adding: “Leadership must prioritise people over politics. A New Nigeria is possible.”