Dare Babalola
Former Presidential candidate, Peter Obi, has expressed alarm over Nigeria’s escalating poverty crisis, stating that the country’s poverty rate should be a concern for every Nigerian, as a recent report reveals that poverty has surged from 40% pre-reform to a staggering 63% under the current administration.
According to Obi, in a statement on Monday, this translates to over 140 million Nigerians living in poverty, with families struggling to afford basic necessities like food, transportation, healthcare, and rent.
The situation is dire, with citizens across the six geopolitical zones resorting to drastic measures such as reducing food consumption, trekking instead of using public transport, living without electricity, and borrowing just to survive.
Obi argued that small businesses, the backbone of Nigeria’s economy, are shutting down, exacerbating the economic hardship.
He condemned the stark contrast between the growing poverty and the continued pattern of lavish spending by those in power, emphasising that leadership must prioritise the welfare of citizens, especially during difficult times.
“An economy cannot be said to be improving when the majority of its people are becoming poorer,” Obi stated.
He called for people-centered economic reforms, prudent leadership, and policies supporting development, small businesses, and vulnerable households.
Obi stressed that true economic reform must protect the most vulnerable while pursuing fiscal sustainability, and that reforms that deepen poverty, widen inequality, and crush small businesses cannot be described as successful.
The former Anambra governor highlighted the need for Nigeria’s leaders to adopt a more compassionate approach, prioritising the well-being of ordinary citizens over elite comfort.
He stressed that sacrifice must begin from the top, and that leaders must lead by example, especially during times of hardship.
He concluded, Nigeria is blessed with immense human and natural resources, and what is required is leadership that prioritizes prudence, compassion, and accountability, measuring success not by elite comfort but by the well-being of the ordinary Nigerian.
