By Anthony Otaru, Abuja
Economic experts have blamed corruption, weak policy implementation and governance failures for Nigeria’s deepening poverty crisis, warning that the country’s worsening outlook reflects systemic neglect rather than resource scarcity.
Their reactions follow the latest World Bank report, released in April 2026, which puts Nigeria’s poverty rate at 63 per cent in 2025—up from 56 per cent in 2023 and 61 per cent in 2024—and affects about 140 million people.
Despite a decline in headline inflation from over 34 per cent in 2024 to 15.15 per cent in 2025, the report noted that persistently high food prices and low agricultural productivity continue to erode household incomes, leaving millions worse off.
Providing context, analysts say the figures expose a disconnect between macroeconomic reforms and their real-life impact, as many Nigerians now spend over 70 per cent of their income on food.
Prof Sheriffdeen Tella, an economist and former Vice Chancellor of Olabisi Onabanjo University, said the trend reflects a long-standing pattern of elite-driven policymaking.
“For every successive government, the number of poor citizens has increased because policies are designed to serve the rich and powerful, not to improve living conditions,” he said.
He added that funds meant for welfare programmes are routinely diverted.
“Corruption is at the heart of the problem. Selfish leadership and weak accountability have worsened poverty levels,” Tella stated.
On his part, Prof Uche Uwaleke described the development as a “wake-up call,” stressing that recent economic reforms have yet to improve citizens’ welfare.
“It is not yet uhuru. Reduced inflation has not translated into better living conditions,” he said.
Uwaleke warned that the cumulative impact of earlier price increases continues to push more Nigerians below the poverty line.
“When over 70 per cent of income goes to food, poverty will inevitably rise,” he added.
Experts project that poverty could remain between 62 and 63 per cent by 2026, with as many as 141 million Nigerians affected, unless urgent structural and social interventions are implemented.
They called for stronger social safety nets, greater accountability in public spending, and policies that directly address food security and income stability.
