By Mahmoud Muhammad Kano
A new report has revealed that Nigeria’s poverty rate has surged to 63 percent following the federal government’s decision to remove fuel subsidies, heightening the cost of living and pushing millions of citizens into deeper economic hardship.
On Friday, March 13, 2026, economists and policy experts involved in a stakeholders’ dialogue in Abuja highlighted that the elimination of the petrol subsidy, coupled with rising electricity tariffs and inflation, has drastically worsened living conditions across the nation. The report noted that household incomes are being eroded by higher transport and commodity costs, leaving more families struggling to meet basic needs.
Before the subsidy removal, Nigeria’s poverty rate was already high, but the current figure underscores how economic reforms without adequate safety nets can intensify vulnerability among citizens. Although the policy was intended to reduce government expenditure and stabilise the economy, critics argue that the absence of effective palliative measures has aggravated hardship for the poor and middle class.
The development has reignited calls from civil society and labour groups for targeted social support programmes to cushion the impact on low‑income households and prevent further slide into poverty.
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