Nigeria’s Deepening Poverty Crisis Will Impede Economic Recovery – Peter Obi

Peter Obi

Former Anambra State governor, Mr Peter Obi, has raised the alarm over Nigeria’s deepening poverty crisis. He recently revealed that the country is sliding backwards as politicians remain fixated on power struggles and control of party structures.

According to him, about 141 million Nigerians, 62 percent of the population, are now living in poverty, and the situation is a grave national failure and a threat to the country’s future.

Obi added that World Bank data has shown a sharp rise in poverty levels in recent years, with the number of Nigerians living in poverty increasing from 81 million in 2019 to approximately 139 million in 2025.

His words, “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 percent of Nigerians, roughly 141 million people, are ensnared in poverty.

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.

It is estimated that by 2026, an overwhelming 141 million people, 62 percent of the population, will be living in poverty

Low-income households are especially at risk, as food constitutes up to 70 percent of their total spending, leaving them acutely vulnerable to food inflation and price shocks.

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.

Meanwhile, Nigeria has witnessed a rise in poverty from about 40 percent in 2000 to a distressing 62 percent today.

By 2025, while India and Bangladesh surged to 0.685, and Indonesia rose to 0.74, Nigeria languished at 0.53, remaining entrenched in the low human development category after 25 years.

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.”

WOW.