Former Labour Party presidential candidate, Mr. Peter Obi, has accused the Nigerian political elite of gross insensitivity to the plight of the masses under the harsh economic climate of the Tinubu Presidency, lamenting that politicians have busied themselves with power struggles while the masses wallow in poverty, which, he noted, has reached “catastrophic proportions”.
In a post on his verified ‘X’ handle, titled “While Politicians Jostle, Poverty Deepens,” Obi lamented that while politicians scramble for positions and share party offices “even before elections are concluded,” Nigeria has quietly become one of the world’s largest poverty capitals.
Citing figures that show some 62% of Nigerians, representing about 141 million people, now lives in poverty, Obi noted that Nigeria has moved backwards while peer countries have made dramatic progress.
Obi referenced World Bank data showing that Nigerians living in poverty increased from 81 million in 2019 to about 139 million in 2025, with projections suggesting the figure could rise to 141 million by 2026.
He stressed that between 2023 and 2026 alone, an estimated 26 million Nigerians would be newly pushed into poverty.
“The numbers are not just statistics; they represent human suffering on a massive scale,” the 2023 presidential candidate of the Labour Party (LP) said, arguing that weak income growth, high food prices, and persistent inflation have made survival increasingly difficult for ordinary Nigerians.
Obi also cited the Nigeria Economic Outlook 2026 report titled “Turning Macroeconomic Stability into Sustainable Growth,” explaining that most Nigerians would not earn enough to offset soaring living costs, especially as food accounts for up to 70% of spending among low-income households.
He further warned that rising poverty is already crippling purchasing power, weakening small businesses and threatening economic recovery, while placing enormous strain on public finances and human capital.
Obi contrasted Nigeria’s trajectory with countries such as India and Indonesia, which he said drastically reduced poverty through sustained investments in education, health, and social protection.
“While India reportedly cut extreme poverty to about 5.3 percent and Indonesia to roughly 8 percent, Nigeria’s poverty rate has risen from about 40 percent in 2000 to 62 percent today,” he disclosed.
Obi also highlighted Nigeria’s stagnation in human development, noting that while countries with similar Human Development Index (HDI) scores in 2000 have advanced significantly, Nigeria remains stuck in the low human development category after 25 years.
“Can we continue to accept that a child born in Nigeria today faces one of the highest risks of being born into poverty anywhere in the world?” he queried.
Warning that the situation has become dire, Obi insisted that macroeconomic stability, agricultural investment, education, health, productivity and large-scale job creation are no longer optional but urgent necessities.
