May 30, 2026
Special report by Dr. Dele Sobowale examines paradox of rising revenue against rising poverty
“There are only two families in the world, my old grandmother used to say, the haves and the have-nots.”
Miguel de Cervantes, 1547-1616. VANGUARD BOOK OF QUOTATIONS, VBQ p 87.
Until 2015, there were four families in Nigeria: the rich, the middle class, the lower class and the destitute. Today, May 2026, the middle class has descended into the lower class and the lower class, always the largest group in Nigeria have swollen the number of people living in poverty to 130 million. By contrast, only 40 million Nigerians were classified as poor in 2014.
