Govt’s Wasteful Spending, Cause Of Nigerians Poverty – Peter Obi

Former presidential candidate of the Labour Party (LP), Peter Obi, has decried the high rate of poverty ravaging the citizens across rural and urban communities.

Naijaonpoint reported that World Bank in its report, in April, disclosed that more Nigerian were pushed below poverty line as a result of President Bola Tinubu government’s policies.

In a statement on Tuesday, Obi noted that the increasing rate of poverty was caused by the government’s wasteful spending on luxury.

Obi said the data from the World Bank’s report showed a poverty crisis in the country. The former Governor of Anambra State called on governments to prioritize citizens’ well-being in policy formulation and implementation.

He said: “In Nigeria today, the situation we find ourselves in calls for urgent and deliberate action.

“It is time for all levels of government to prioritize critical areas of development—particularly investment in health, education, and poverty alleviation.

“We must reassess what truly matters. The decisions we make—what we build, fund, and focus on—must align with the pressing needs of the people.

“Just this month, the World Bank reported that, as of April 2025, the poverty rate among rural Nigerians has risen to over 75%, indicating widespread economic hardship across the country. The report also highlighted that 41.3% of Nigeria’s urban population now lives below the poverty line. This shows that poverty is no longer just a rural crisis—it has become a national emergency.

“In comparison, the World Bank reported that in 2018/2019, about 30.9% of Nigerians lived below the international extreme poverty line.

“As of 2025, that figure has more than doubled instead of improving.

“These facts confirm that poverty in Nigeria has worsened significantly—and this is no coincidence.

“It is the direct result of years of misplaced priorities. Rather than investing in critical sectors, we have continued to prioritize wasteful spending on non-developmental projects such as conference centres, government houses and lodges, guest houses, and fleets of official vehicles—instead of investing in human capital, education, and healthcare, which are the true legacy projects capable of transforming a nation.

“We must urgently redirect our national focus and address the root causes of poverty.

“Nigeria must expand access to quality education and healthcare, and support job creation by investing in and empowering Micro, Small, and Medium Enterprises (MSMEs), which are essential for lifting people out of poverty.”