Obi said political actors are busy scrambling for offices and control of party structures even as millions of Nigerians slide deeper into poverty
Former Anambra State governor and 2023 Labour Party presidential candidate, Peter Obi, has criticised Nigerian politicians for focusing on internal power struggles and political positions while poverty continues to worsen across the country.
Obi said political actors are busy scrambling for offices and control of party structures even as millions of Nigerians slide deeper into poverty.
In a statement posted on his verified X account on Friday and titled “While Politicians Jostle, Poverty Deepens,” Obi said the country is facing a grim reality.
“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% of Nigerians roughly 141 million people are ensnared in poverty,” he said.
Citing World Bank data, Obi said the number of Nigerians living in poverty rose from 81 million in 2019 to about 139 million in 2025.
He added that projections indicate the figure could reach 141 million by 2026.
“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,” he said.
Obi added that “an additional 26 million Nigerians will be thrust into poverty between 2023 and 2026.”
He also referenced the Nigeria Economic Outlook 2026 report titled “Turning Macroeconomic Stability into Sustainable Growth.”
According to him, the report reinforces projections that 62 per cent of Nigerians will be living in poverty by 2026.
“Despite recent attempts at stabilisation, the report underscores that weak real income growth and persistently high living costs will continue to exacerbate poverty,” he said.
He added that most Nigerians would not earn enough to offset rising costs of living.
Obi warned that even if headline inflation moderates, high prices driven by energy, logistics and exchange-rate pressures would continue to hurt households.
“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,” he said.
He said rising poverty is weakening purchasing power, reducing demand and placing pressure on micro, small and medium-sized enterprises that rely 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 programmes,” Obi said.
He compared Nigeria’s situation with countries such as India and Indonesia, which he said had significantly reduced poverty through investments in education, health and social protection.
“India successfully reduced extreme poverty from 35–40% in 2000 to an astonishing 5.3% today,” he said.
He added that Indonesia cut poverty from about 30 per cent to roughly eight per cent over the same period.
Obi lamented that Nigeria, by contrast, saw poverty rise from about 40 per cent in 2000 to 62 per cent today.
He noted that the country has remained in the low human development category for 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,” he said.
He called for urgent 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,” Obi said.
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