Nigeria is grappling with a deepening poverty crisis, as recent economic reforms and longstanding structural weaknesses push millions further into deprivation. Once seen as Africa’s rising power, the country now faces a stark economic and humanitarian emergency affecting over half its population.
According to a 2022 report by the National Bureau of Statistics and development partners, 133 million Nigerians were living in multidimensional poverty—lacking access to food, clean water, education, healthcare, and housing. The situation worsened in 2024 when World Bank data revealed that an additional seven million people fell into poverty following the removal of fuel subsidies and the floating of the naira under President Bola Tinubu’s administration.
Critics argue the reforms, while aimed at economic stability, were rushed and lacked protective measures for vulnerable populations. The country’s minimum wage of ₦70,000 remains below the international poverty line of $2.15 per day—about ₦102,000 monthly—leaving even formal workers in poverty. The impacts are widespread. Over 25 million Nigerians face food insecurity, and 37% of children under five are stunted due to malnutrition.
Health challenges are severe: Nigeria accounts for 28% of global maternal deaths, while diseases like malaria, cholera, and typhoid remain prevalent. Public healthcare access remains limited for most.
Education is in crisis, with more than 20 million out-of-school children—the highest globally, according to UNESCO. Many of these children are engaged in child labour or early marriages, fuelling generational cycles of poverty. Conflict, displacement, and environmental pressures have also left over three million Nigerians homeless.
Akinwunmi Adesina, President of the African Development Bank, has warned that Nigerians are worse off today than at independence in 1960. He called for bold reforms, including industrialisation, innovation, modernised agriculture, and reliable electricity access. Despite these warnings, government responses remain limited to short-term measures like food palliatives and cash transfers.
Experts argue that real progress requires structural change: implementing fiscal federalism, investing in infrastructure, and expanding health and education services. Without urgent and sustained intervention, Nigeria’s poverty crisis threatens to erode national stability, worsen insecurity, and derail development for generations to come.
