From Crisis to Catalyst: Rethinking Nigeria’s Non-Consumption Problem

In a new article, Efosa Ojomo highlights a major but often overlooked issue in Nigeria: non-consumption, or the inability of millions to access basic goods and services. Ojomo notes that over 130 million Nigerians live in multidimensional poverty and spend half their income on food—a stark indicator of widespread struggle to meet basic needs. He argues that while this is a crisis, it is also a massive, untapped opportunity. Nigeria’s economy is hamstrung by low productivity, poor infrastructure, and limited access to credit and electricity. But within these gaps lies potential. By shifting focus from the few Nigerians who consume to the many who cannot, leaders can unlock inclusive growth and transform non-consumption into thriving markets. The real surprise, Ojomo says, is how predictable — and solvable — this is.

SEMAFOR