Economic Hardship Deepens Woes for Nigeria's Elderly

In his 121st inaugural lecture at Lagos State University, Professor Olanrewaju Ajiboy addressed the deepening economic hardships impacting elderly Nigerians. He stated that Nigeria's economic growth has not translated into improved living standards, particularly as inflation, especially food inflation, erodes the purchasing power of the elderly.

Ajiboy cited that approximately 139 million Nigerians, or 60% of the population, live in poverty, with older individuals bearing the greatest burden. He emphasized that 85% of women aged 60 and above live in poverty, often resorting to petty trade or begging for survival.

The aging population is projected to rise to 14.8 million by 2050, without a corresponding growth in social security systems. Ajiboy criticized ageism as a significant issue affecting older individuals, manifesting in workplaces, healthcare, and media portrayals.

He called for stronger government interventions, including improved pension systems and healthcare access, to ensure dignity and quality of life for the elderly.