While Politicians Jostle, Poverty Deepens
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. This alarming statistic indicates that more than half of our population is living in dire conditions. While other nations are lifting millions out of hardship, Nigeria is regressing.
According to World Bank data, the number of Nigerians living in poverty surged from 81 million in 2019 to approximately 139 million in 2025. 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. 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.
The Nigeria Economic Outlook 2026 report, titled “Turning Macroeconomic Stability into Sustainable Growth,” reinforces these grim projections. It is estimated that by 2026, an overwhelming 141 million people—62% of the population—will be living in poverty. Despite recent attempts at stabilization, the report underscores that weak real income growth and persistently high living costs will continue to exacerbate poverty.
Most Nigerians will not experience income growth sufficient to counter escalating costs. Although headline inflation may moderate, sustained high prices stemming from energy, logistics, and exchange-rate fluctuations will remain a burden. 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.
This rising tide of poverty weakens purchasing power, diminishes demand, and places immense pressure on micro, small, and medium-sized enterprises reliant 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 programs.
Our trajectory starkly contrasts with nations like India and Indonesia. India successfully reduced extreme poverty from 35-40% in 2000 to an astonishing 5.3% today. Indonesia, too, has made significant strides, cutting poverty from around 30% in 2000 to roughly 8%, all through unwavering investments in education, health, and social protection. Meanwhile, Nigeria has witnessed a rise in poverty from about 40% in 2000 to a distressing 62% today.
In the year 2000, India, Bangladesh, Indonesia, and Nigeria shared similar Human Development Index scores of 0.49, 0.47, 0.60, and 0.45, respectively. 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.
Can we continue to tolerate the reality that a child born in Nigeria today faces one of the highest risks of being born into poverty anywhere in the world? 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. 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.
A New Nigeria is POssible. -PO
The recent pronouncement by the US government declaring Nigeria a ‘Country of Particular Concern' (CPC) and indicating possible military action should give every well-meaning Nigerian serious concern.
There is no doubt that Nigeria is experiencing an unprecedented level of insecurity with attendant carnage and the most shocking loss of lives and property. According to Amnesty International, over 10,000 people have been killed in Nigeria since May 2023 and as I have repeatedly lamented, the unwarranted and unprovoked killing of Nigerians is most condemnable, and all efforts must be made to bring it to a stop. It is equally important to state that the terrible situation is significantly avoidable with competent leadership and governance.
While the insecurity did not start with the present government, what is most unfortunate is the lack and absence of competence, commitment, prudent use of resources, patriotism and passion on the part of APC APC-led government/leaders to effectively govern, galvanise and lead Nigeria where no one is unwarrantedly oppressed and killed, a Nation where peace, truth and justice reign!
As democracies, Nigeria and the US have long been strategic partners committed to regional peace and security. That relationship should not falter. The present situation calls for constructive diplomatic and any other plausible engagement by both nations aimed at addressing the prevailing and disturbing security concerns. Both countries must work in concert and expeditiously towards that purpose. -PO