Presidential candidate of the Labour Party (LP), Peter Obi, has emphasized that Nigeria’s development is hindered by the fact that more than half of its population lives in poverty.
On the occasion of the World International Day for the Eradication of Poverty, Obi asserted that the high poverty rate in the country poses a significant threat to national security.
As part of his commitment to poverty eradication, Obi urged all levels of government to take swift and positive actions to invest in healthcare and education. He highlighted the urgent need to address the poverty crisis in Nigeria.
Obi stated, “As we mark the International Day for the Eradication of Poverty today, I restate my unwavering commitment and desire to pull millions of Nigerians out of poverty as part of my mission in the New Nigeria.
“Our beloved country Nigeria is today, regrettably, known as ‘the poverty capital’ of the World. According to the World Poverty Clock, over 71 million Nigerians live in extreme poverty today, and a total of 133 million people, 63 percent of the population, are classed as multidimensionally poor according to the National Bureau of Statistics.”
He went on to stress that no nation can achieve development when more than half of its population is living in poverty, and he cited statistics highlighting the alarming level of income inequality in Nigeria.
Obi argued that investing in small businesses across the country is a proven and effective means of lifting people out of poverty, as demonstrated by countries like India, Bangladesh, and China. He referred to India’s success in lifting millions out of poverty by reducing their global Multidimensional Poverty Index.
He concluded by urging governments at all levels to prioritize reforms and investments in critical areas of development, specifically in healthcare, education, and poverty alleviation, emphasizing that achieving a New Nigeria is indeed possible.
