Former Minister of Transportation, Rotimi Amaechi, recently stated that ex-President Olusegun Obasanjo was the last Nigerian leader to create a stable middle class. He explained that during Obasanjo’s administration, the economy provided jobs that helped form this social group, unlike today, where the gap between the rich and poor keeps widening.

Speaking at a two-day event in Abuja on strengthening democracy and governance, Amaechi noted that Obasanjo’s leadership built an economy that allowed more people to achieve financial stability. He argued that although some criticized this middle class as unstable—struggling to survive by the end of each month—it still existed.

Obasanjo’s administration (1999–2007) saw significant reforms in banking, telecommunications, and public service, which provided more job opportunities. These policies helped many Nigerians transition from poverty into the middle class.

Amaechi believes that after Obasanjo’s tenure, Nigeria’s economy failed to sustain the middle class, leaving a sharp divide between the rich and the poor. He pointed out that today, most people either struggle to survive or belong to the wealthy elite, with little room for financial stability in between.

He also criticized the current economic policies, saying that if investments in social housing and agriculture had been made alongside subsidy removal, the effects of inflation and hardship would not have been as severe.

A thriving middle class is crucial for economic growth and stability. It leads to increased consumer spending, business growth, and job creation. Without a middle class, poverty increases, and wealth becomes concentrated in the hands of a few.

Amaechi’s statement raises an important question: What can Nigeria’s current leaders do to rebuild the middle class and reduce economic hardship?