Former Anambra State Governor Peter Obi has blamed the increase in the number of Nigerians living in poverty on the economic reforms embarked upon by President Bola Tinubu’s administration.
Obi made this claim on March 16 in a post on his official X account, where he criticized the government’s economic reforms, arguing that they have pushed more Nigerians into poverty.
He cited a recent policy study by Agora Policy—supported by the Nigeria Economic Stability and Transformation Programme and the UK Foreign, Commonwealth and Development Office—which revealed that the poverty headcount rose sharply from a baseline of about 49.8% to roughly 63%.
Obi said the report shows that poverty in Nigeria has worsened significantly since the introduction of the current administration’s economic reforms.
He added that the increase means a large majority of Nigerians are now struggling to meet basic needs.
According to him, households across Nigeria’s six geopolitical zones are increasingly resorting to difficult coping strategies such as cutting food consumption, trekking instead of paying for transport, and borrowing money to survive, while many small businesses are shutting down.
The research was presented at a stakeholders’ dialogue organised by Agora Policy in Abuja on Thursday.
The study found that the national poverty headcount rose sharply from a baseline of about 49.8 per cent to roughly 63 per cent following the removal of petrol subsidy before moderating slightly after the introduction of social protection measures.
Nigeria’s economy, however, recorded stronger growth towards the end of 2025.
According to the latest Gross Domestic Product report released by the National Bureau of Statistics on February 27, the country’s economy grew by 4.07 per cent year-on-year in real terms in the fourth quarter of 2025.
The figure represents an improvement from the 3.76 per cent growth recorded in the corresponding period of 2024, signalling stronger economic activity at the end of the year.
Despite the growth, Obi argued that the benefits are not translating into improved living conditions for ordinary Nigerians.
Since assuming office in 2023, President Bola Tinubu has introduced a series of major economic reforms, including the removal of the petrol subsidy and the unification of Nigeria’s multiple foreign exchange rates.
However, critics such as Obi argue that while macroeconomic indicators may show improvement, the reforms have yet to translate into tangible benefits for many Nigerians.