By Yinka Giwa
Former presidential candidate Peter Obi and the African Democratic Congress (ADC) have taken on the Federal Government over what they describe as worsening economic hardship under President Bola Tinubu’s reforms, citing fresh data that suggests more than 140 million Nigerians are now living in poverty.
Obi, reacting to a new policy report, said the administration’s economic measures have pushed millions deeper into deprivation, with poverty rates rising sharply from about 40 per cent before the reforms to over 63 per cent.
The report, published by Agora Policy with support from the Nigeria Economic Stability and Transformation Programme and the United Kingdom’s Foreign, Commonwealth and Development Office, paints a grim picture of a country grappling with widespread economic distress.
According to Obi, the figures translate to over 140 million Nigerians struggling to afford basic necessities such as food, transportation, rent, and healthcare, with families across the country resorting to desperate coping mechanisms.
He noted that households are cutting down on meals, trekking long distances due to high transport costs, living without electricity, and borrowing to survive, while small businesses—long regarded as the backbone of the economy—are shutting down in large numbers.
Obi argued that no economy can be adjudged successful if the majority of its citizens are getting poorer, decrying what he described as a disconnect between the suffering of ordinary Nigerians and the perceived extravagance of political leaders.
He called for a people-centred reform agenda that protects vulnerable citizens while pursuing fiscal sustainability, insisting that policies that deepen poverty and widen inequality cannot be deemed successful.
The ADC also weighed in on the controversy, pushing back against the All Progressives Congress (APC) for dismissing concerns over the country’s worsening poverty figures and accusing the opposition of incitement.
In a statement by its National Publicity Secretary, Bolaji Abdullahi, the party said the data showing a rise in poverty to 63 per cent — up from about 50 per cent before the removal of petrol subsidy — reflects the lived realities of Nigerians rather than opposition propaganda.
The ADC cited independent surveys indicating that 93 per cent of Nigerians believe the country is heading in the wrong direction, while 88 per cent rate the economy as bad and 74 per cent describe their personal living conditions as poor.
It further argued that the hardship being experienced by citizens cannot be dismissed as temporary, noting that 82 per cent of Nigerians have gone without enough food or medical care at least once in the past year, while significant majorities lack access to cooking fuel, clean water, and stable income.
The party also criticised the sharp rise in fuel prices — from about N255 per litre in May 2023 to around N1,500 in many parts of the country — saying it has driven up transportation costs and placed food beyond the reach of millions.
Questioning the government’s claims that savings from fuel subsidy removal are being redirected to critical sectors, the ADC pointed to what it described as negligible releases to the healthcare sector and persistent underfunding of key areas such as education and infrastructure.
It also highlighted the impact on agriculture, alleging that nearly 90 of over 150 rice mills nationwide have shut down, while others operate far below capacity, amid rising food imports and policies it said undermine local production.
The party noted that Nigeria’s food import bill has nearly doubled, rising from N3.83 trillion in 2023 to N7.65 trillion, warning that the trend threatens domestic agriculture and livelihoods.
Insisting that economic reforms must be judged by their real-life impact, the ADC said the rising poverty rate, widespread hardship, and negative public sentiment all point to a policy direction that requires urgent review.