Tinubu’s Subsidy Policies Fail as Nigeria Poverty Hits 63%

Nigeria’s Main Opposition Party Blames Tinubu Policies for Soaring Poverty Rate

The African Democratic Congress (ADC) has attributed Nigeria’s sharply rising poverty rate to the economic policies of President Bola Ahmed Tinubu, arguing that the data confirms widespread hardship following the government’s removal of the petroleum subsidy.

In a statement, the party cited a recent report indicating that Nigeria’s poverty rate increased to 63% from approximately 50% after the subsidy was scrapped in mid-2023. The ADC contended this rise directly results from higher fuel and transport costs, which have cascaded into elevated prices for food and other basic necessities.

The party described the figures as a reflection of daily realities for millions of citizens, including a declining purchasing power and a heightened cost of living. It criticized the administration’s prior assertion that subsidy savings would be redirected to bolster critical sectors like health and education, stating there is little visible improvement in these areas three years later.

Citing independent surveys, the ADC noted that about 93% of Nigerians believe the country is moving in the wrong direction, with 88% rating the national economy as poor and 74% describing their personal living conditions as such. The party highlighted evidence of widespread deprivation, with many households reporting periods without essential items like food, clean water, or medical care.

“The real test of any economic policy is whether it makes life better for the majority of citizens and protects the most vulnerable,” the statement read. “On this score, the APC government has failed.”

The ADC’s criticism centers on the May 2023 decision to end the decades-long fuel subsidy, a cornerstone of President Tinubu’s reform agenda aimed at stabilizing public finances. The government maintains the move was necessary for long-term economic health and that targeted welfare interventions are being implemented to mitigate impacts.

The new poverty estimate, if validated, would represent one of the world’s highest rates and underscores the acute socioeconomic challenges facing Africa’s most populous nation. The debate now intensifies over the effectiveness of the government’s reform strategy and its social safety nets amid persistent inflation and a weakening currency.