Peter Obi sounds alarm as 62% of Nigerians sink into poverty, warns of national crisis

By Johnson Arua

Former Anambra State Governor Peter Obi has raised serious concerns over Nigeria’s worsening poverty crisis, warning that the country is sliding backward while politicians remain preoccupied with power struggles.

In a statement released on Thursday, Obi revealed that about 141 million Nigerians—62% of the population—now live in poverty, describing the situation as a “grave national failure” and a threat to the country’s future.

“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,” Obi said.

He cited World Bank data showing a sharp rise in poverty levels in recent years, noting that the number of Nigerians living in poverty surged from 81 million in 2019 to approximately 139 million in 2025.

Within a single year, poverty increased from 115 million in 2023 to 129 million in 2024, pushing 14 million more Nigerians into hardship.

“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,” Obi warned.

He emphasized that low-income households are particularly vulnerable, with food accounting for up to 70% of their spending, leaving them exposed to inflation and price shocks.

Obi stressed that without robust job creation, productivity growth, and effective social protection programs, the rise in poverty could destabilize public finances, erode human capital, and hinder economic recovery.

Comparing Nigeria with other developing nations, Obi pointed out that countries like India and Indonesia have significantly reduced poverty through sustained investments in education, healthcare, and social protection, while Nigeria has seen poverty rise from about 40% in 2000 to 62% today.

“By 2025, while India and Bangladesh surged to 0.685, and Indonesia rose to 0.74 on the Human Development Index, Nigeria languished at 0.53, remaining entrenched in the low human development category after 25 years,” Obi said.

He concluded: “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.”