Peter Obi, the Labour Party’s 2023 presidential candidate, has sounded the alarm on Nigeria’s escalating poverty crisis, asserting that the country’s poverty rate exceeds the combined rates of China, Indonesia, and Vietnam.
Speaking at a public lecture in Abuja, Obi cited recent data estimating that over 43% of Nigerians live below the poverty line, a stark contrast to the significant poverty reductions achieved by the three Asian nations through consistent economic reforms and inclusive policies. He described Nigeria’s situation as a “national emergency” requiring immediate and comprehensive action.
Obi highlighted several factors contributing to Nigeria’s poverty, including high unemployment, limited access to quality education and healthcare, and inadequate infrastructure. He contrasted Nigeria’s challenges with the successes of China, which lifted millions out of poverty through industrialization, and Indonesia and Vietnam, which have leveraged agriculture and technology to drive economic growth.
Obi urged the Federal Government to prioritize investments in human capital development, particularly in education and vocational training, to empower Nigerians and reduce poverty. He also advocated for policies to support small and medium enterprises, which he described as the backbone of any thriving economy. While Obi’s remarks have resonated with many Nigerians, sparking debates on social media and public forums, the Federal Government has yet to issue an official response.