25m elderly Nigerians face poverty risk by 2050 — LASU don

Professor Olanrewaju Ajiboye of Lagos State University has issued a stark warning regarding the future of elderly Nigerians, projecting that around 25 million individuals aged 60 and above could face poverty and inadequate support by the year 2050. Delivering his inaugural lecture, Ajiboye highlighted that while population aging is a global trend, developing nations like Nigeria are seeing the fastest growth without the necessary social safety nets.

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By 2050, Nigeria’s population of older persons is projected to rise to about 25 million, yet the majority of them already lack adequate support and face mass poverty.

Ajiboye pointed out that Nigeria's current elderly population, numbering over 14.8 million, is expected to surge significantly in the coming decades. He expressed concern over the nation's lack of preparedness for this demographic shift, emphasizing that soaring inflation, particularly in food prices, and sluggish economic growth are severely eroding the purchasing power of older citizens. This economic vulnerability is compounded by the weakening of traditional extended family structures that historically provided care for the elderly.

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Soaring inflation, particularly food inflation, and weak economic growth have eroded the purchasing power of older persons, further exacerbating their vulnerability.

The professor cited World Bank data indicating that a substantial portion of Nigeria's population lives in poverty, with the elderly being among the most affected. He noted that rural elderly populations are disproportionately impacted, facing higher poverty rates than their urban counterparts. Consequently, many elderly Nigerians are now resorting to petty trading or begging for survival due to the collapse of family-based support systems and the absence of formal welfare structures.

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Ageing in Nigeria is occurring against the background of socioeconomic hardship, widespread poverty, and rapid transformation of the traditional family system that once catered for older persons.

This analysis from a Nigerian academic perspective underscores the urgent need for robust social protection systems and economic policies that specifically address the challenges of an aging population. The breakdown of traditional support networks, coupled with economic hardship, leaves a significant segment of the population at risk of neglect and destitution, a situation that demands immediate national attention.

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Unfortunately, the traditional reliance on extended family support is becoming ineffective, leaving many older individuals with no formal welfare.