Former governor of Anambra State and presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has reacted to the recent report of growing poverty rate in the country.
According to the new Agora Policy Study released with support from the Nigeria Economic Stability and Transformation Programme and the United Kingdom’s Foreign, Commonwealth and Development Office, the poverty rate in Nigeria has climbed from about 40% before the current reforms to over 63% under this administration.
Reacting to the report in a post via his official X handle on Monday, Mr. Obi said the report should deeply concern every responsible leader and citizen in Nigeria.
He said the report explicitly shows that the economic reforms of this administration have pushed more Nigerians into poverty than ever experienced in the country.
Noting that for a country whose population is estimated at over 220 million people, this means that well above 140 million Nigerians now live-in poverty.
According to him, families nationwide could no longer afford basic necessities such as food, transportation, rent, or healthcare. Explaining that across the six geopolitical zones of Nigeria, families report painful coping strategies, reducing food consumption, trekking instead of using public transport, having no electricity to use, and borrowing simply to survive.
He however, lamented that what is more troubling is the contrast between the growing hardship faced by ordinary Nigerians and the continued pattern of lavish and insensitive spending by those in power.
Stating that while citizens are tightening their belts, struggling to eat, and watching their businesses collapse, the politicians continue to spend huge budgets on their comfort and other non-essential extravagances.
Obi said that “leadership must lead by example, especially during difficult times. You cannot ask the citizens to fast while you feast. Sacrifice must begin from the top. True economic reform must be people centred.
“It must protect the most vulnerable while pursuing fiscal sustainability. Reforms that deepen poverty, widen inequality, and crush small businesses cannot be described as successful. Nigeria is blessed with immense human and natural resources.
“What we require is leadership that prioritises prudence, compassion, and accountability, leadership that measures success not by elite comfort but by the well-being of the ordinary Nigerian. Nigeria must urgently and strictly implement policies that support development, expand production, small businesses, and protect vulnerable households.”
