Presidential candidate of Labour Party (LP) in the 2023 general elections, Peter Obi, has said poverty is worsening in Nigeria because governments at all levels have abandoned governance.
Consequently, the Coalition of United Political Parties (CUPP) called for urgent action to address the extreme poverty facing Nigerians.
Meanwhile, the Independent Media and Policy Initiative (IMPI) questioned the International Monetary Fund (IMF) downgrade of its economic growth projection for Nigeria in 2025 from 3.2 per cent to 3.0 per cent on the back of the global oil slump.
Obi stated that Nigerians, especially the well-to-do must sacrifice to pull the people out of poverty and end the crises and conflicts in the country.
The former Anambra State governor spoke, yesterday, after donating N40 million to the Enugu Diocese of the Anglican Communion and management of the Godfrey Okoye University, Enugu. Each of the organisations received N20 million to facilitate its healthcare projects.
Making the donations, Obi regretted that the churches and other organisations were doing the work of government.
At Ihuokpara community, Nkanu East Local Council, where the Anglican Church is setting up a primary health centre, Obi stated that what the church was doing would fast-track development and empowerment of the people.
“If you look at measurable indices of development, which is hinged on human development, the number one is life expectancy, which is health. That is why it is said that a healthy nation is a wealthy nation. So, we must invest in it. As you can see, I am partnering the church, which is doing an immeasurable work in this regard.
The next is education. The more educated a society is, the more it develops. Again, the church is doing immeasurable work in education. So, we need to partner the church and voluntary agencies to solve this. It is for all of us. I thank the Diocese for this extraordinary work,” he stated
At the Godfrey Okoye Nursing School, Obi encouraged the students to be serious with their studies, highlighting the global and national shortage of nurses. He added that their skills are in high demand and crucial for the future of healthcare in Nigeria.
Responding, the Anglican Bishop of Enugu Diocese, Samuel Ike, stated that the goal of the diocese was to provide healthcare, education, empowerment and preach the gospel of Jesus Christ. He thanked Obi for identifying with the church.
THE National Secretary of CUPP, Peter Ameh, stared in Lokoja, yesterday, that Nigeria faces a dire humanitarian and economic crises, with the unenviable position of having the most malnourished children in Africa and the second highest globally.
He said: “This alarming statistics is compounded by the World Bank’s April 2025 report, which paints a grim picture of poverty’s grip on the nation.
“The report reveals that 75.5 per cent of rural Nigerians and 41.3 per cent of urban dwellers live below the poverty line, with over 54 per cent of the population (approximately 120 million people) struggling to survive in abject poverty.”
According to Ameh, the figure represents a staggering increase of 42 million people since 2018/19, when the poverty rate stood at 30.9 per cent.
He said the crisis disproportionately affected children, with 72.5 per cent of those aged zero to 14 years living in poverty, and education levels further exacerbating the divide: 79.5 per cent of Nigerians without formal education are poor, compared to just 25.4 per cent of those with tertiary education.
Ameh added: “The root of this crisis is deeply structural. Nigeria’s heavy reliance on oil exports has left its economy vulnerable to global price fluctuations, while persistent inflation erodes purchasing power.”
ACCORDING to IMPI, the downgrade is because the Nigerian economy has not, of late, been solely about oil, especially with the substantial growth in the country’s non-oil export year-on-year as a result of ongoing economic diversification and the impact of government policies.
In a policy statement signed by its Chairman Dr Omoniyi Akinsiju, the think-tank argued that it was more favourably disposed to the seven per cent growth forecast by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
It said, “In its economic outlook, the IMF downgraded Nigeria’s economic growth forecast for 2025 by 0.2 percentage points to 3.0 per cent, down from 3.2 per cent, while growth for 2026 was also revised downward by 0.3 percentage points to 2.7 per cent.
“The IMF justified this forecast by citing projected lower global oil prices as a significant risk to the country’s fiscal and external balances. We wonder how a single factor can be responsible for the projected massive decline in the size of an economy, moreso, when Nigeria is moving away from its dependency on crude oil earnings.”
However, IMPI is better pleased with the World Bank’s projection, saying it offered a more optimistic view.
“In its report, the World Bank projected that Nigeria’s economy would grow by 3.6 per cent in 2025, building on an estimated 3.4 per cent expansion in 2024 and, thereafter, strengthening to 3.8 per cent by 2027.
“The bank credited the federal administration’s possible sustenance of economic reforms with the gradual stabilisation of the macroeconomic environment. Critical to the World Bank’s projection is the expected improvement in the performance of the non-oil sectors, mainly services such as financial services, telecommunications and information technology, as well as easing inflationary pressures and improved business sentiment.”
IMPI also argued that it was not unusual for countries to pick holes in IMF’s projections, citing Mexico and Zambia where it was proved wrong.(Guardian)
