Presidential candidate in the 2023 election, Mr. Peter Obi, has said that a recent policy study shows that of the estimated 220 million Nigerians more than 140 million now live in poverty, citing it as evidence that the economic reforms of the present administration have pushed more Nigerians into poverty than has ever been experienced.
Mr. Obi, currently a chieftain of the opposition party, African Democratic Congress (ADC), said that the study, released by Agora Policy, with support from the Nigeria Economic Stability and Transformation Programme and the United Kingdom’s Foreign, Commonwealth and Development Office, shows that the poverty rate in the country has climbed from about 40% before the current reforms to over 63% under the present administration.
Insisting that the study should “deeply concern every responsible leader and citizen in Nigeria,” Mr. Obi, a former Governor of Anambra State, pointed out that the report confirmed that “Families nationwide can no longer afford basic necessities such as food, transportation, rent, or healthcare.
“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. Small businesses, which are the backbone of our economy are shutting down.”
He stressed further that an economy cannot be said to be improving when the majority of the people of the country are becoming poorer, noting that “What makes this situation even 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.
“At a time when 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. 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.”
He pointed out that “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,” he contended.
Mr. Obi also noted that “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.”
He, thus urged that “Nigeria must urgently and strictly implement policies that support development, expand production, small businesses, and protect vulnerable households.”
