Peter Obi, former governor of Anambra State, has attributed the growing level of poverty in Nigeria to the economic reforms introduced by President Bola Ahmed Tinubu’s administration.
In a statement shared on his official X (formerly Twitter) account on March 16, Obi criticized the government’s economic policies, arguing that they have worsened living conditions for many Nigerians.
Obi referenced a recent policy study conducted by Agora Policy, which indicated that the proportion of Nigerians living in poverty has risen significantly. According to the report, the national poverty rate increased from an estimated 49.8% to around 63%.
The former presidential candidate said the figures show that poverty has intensified since the current administration implemented its economic reforms. He explained that with Nigeria’s population estimated at more than 220 million people, the current poverty level means that well over 140 million Nigerians are struggling to meet basic needs.
Obi also noted that many households across the country are increasingly adopting survival strategies such as reducing food intake, walking long distances instead of paying for transport, and borrowing money to cope with rising costs. He added that numerous small businesses are also facing closures due to the difficult economic environment.
The study cited by Obi was presented during a stakeholders’ dialogue organized by Agora Policy in Abuja. Findings from the research suggested that the national poverty headcount rose sharply after the removal of petrol subsidy and adjustments to electricity tariffs.
However, the report also indicated that social protection measures introduced by the government helped ease some of the economic pressure on low-income households.
Mohammed Shuaibu, a senior lecturer in the Department of Economics at the University of Abuja who presented the research, explained that household consumption declined following both the subsidy removal and the increase in electricity tariffs.
Despite these challenges, Nigeria’s economy recorded stronger growth toward the end of 2025. Data released by the National Bureau of Statistics showed that the country’s Gross Domestic Product grew by 4.07% year-on-year in the fourth quarter of 2025. This represented an improvement compared with the 3.76% growth recorded in the same period of 2024.
However, Obi argued that the improved economic performance reflected in national statistics has not translated into better living conditions for ordinary Nigerians. According to him, meaningful economic reforms should prioritize the welfare of citizens and protect the most vulnerable while pursuing fiscal stability.
Since assuming office in 2023, President Bola Ahmed Tinubu has implemented major economic changes, including the removal of the long-standing petrol subsidy and the unification of Nigeria’s multiple foreign exchange rates.
While international institutions such as the International Monetary Fund and the World Bank have praised the reforms as necessary steps toward stabilizing the economy and encouraging long-term growth, critics like Obi maintain that the policies have yet to deliver tangible benefits for a large number of Nigerians.
