LAGOS, NIGERIA — A senior academic at Lagos State University has warned that an estimated 25 million elderly Nigerians could face severe poverty by the year 2050 if urgent reforms are not implemented to strengthen social protection systems across the country.
The warning was issued on Tuesday, April 21, 2026, at approximately 2:00 p.m., during a public policy lecture held at the Lagos State University main auditorium in Ojo, Lagos, where scholars and policymakers gathered to discuss Nigeria’s long-term socioeconomic outlook.
The professor highlighted that Nigeria’s ageing population is growing steadily, but the country’s social security structure remains weak and largely inadequate to support citizens in retirement. According to the analysis presented, many elderly Nigerians currently rely on informal family support systems, which are increasingly under pressure due to economic hardship and urban migration patterns.
The lecture emphasised that inflation continues to erode the value of savings and pensions, leaving older citizens vulnerable to rising living costs, particularly in areas such as healthcare, housing, and food. Without strong institutional support, millions could be pushed below the poverty line in the coming decades.
The academic also pointed out that Nigeria lacks a comprehensive national pension coverage system, especially for workers in the informal sector, who make up a significant portion of the population. As a result, a large number of citizens enter old age without stable income or financial protection.
In addition, changing family dynamics were identified as a major factor contributing to the growing risk. Traditional extended family systems, which once provided care and financial support for elderly relatives, are gradually weakening due to economic pressures and shifting social structures.
The professor warned that if current trends continue, the country could face a major social crisis by 2050, with millions of elderly citizens struggling to meet basic needs. He stressed that the issue requires immediate policy attention, including expansion of pension schemes, targeted welfare programmes, and improved healthcare access for older populations.
Experts at the event also noted that Nigeria’s demographic transition presents both challenges and opportunities. While a youthful population currently dominates, the number of elderly citizens is expected to rise significantly over the next few decades, increasing pressure on public resources and social systems.
The discussion further highlighted the need for government intervention to build sustainable safety nets, including contributory pension reforms, elderly care policies, and inflation-resistant savings mechanisms that can protect long-term financial stability.
As Nigeria continues to navigate economic reforms and population growth, analysts say addressing elderly poverty risks early will be critical to avoiding widespread hardship and ensuring social stability in the future.
