Across continents, the middle class, the bedrock of stable economies and democracies, is under siege. Once a symbol of upward mobility, security, and civic participation, it is now shrinking at a pace that threatens both economic growth and social cohesion. In Nigeria, this global trend has a local face. Professionals who once counted themselves among the nation’s comfortable middle earners are sliding toward insecurity. They struggle with inflation, stagnant wages, and the rising cost of living. What was once a reliable buffer against poverty is dissolving, leaving millions exposed to financial and social precarity.
Globally, the numbers are stark. Research from the OECD and World Bank shows that over the past two decades, the proportion of middle-class households has fallen in both advanced and emerging economies. In the United States and Europe, rising housing costs and wage stagnation are eroding financial stability. In emerging economies such as Nigeria, the picture is grimmer. An economy heavily reliant on oil, inconsistent job creation, and policy gaps mean that middle-class professionals are no longer insulated from the shocks of unemployment or inflation. What was a class of aspiration has become a class of anxiety.
The consequences extend beyond economics. A shrinking middle class undermines democratic trust and civic engagement. Citizens who feel financially insecure are less likely to participate in elections. They are more prone to social unrest and increasingly receptive to populist narratives that promise quick fixes. In Nigeria, where professional classes once served as pillars of advocacy, entrepreneurship, and policy innovation, declining economic stability risks weakening the very institutions that could promote accountability and national cohesion. Without intervention, the middle class could disappear as a stabilizing social force altogether.
Policy responses have been inadequate. Governments worldwide, including Nigeria, have failed to implement measures that protect middle-income households from economic shocks. Inflation controls, social safety nets, and wage growth policies lag behind the pressures of modern economies. Meanwhile, global forces such as automation, climate shocks, and geopolitical instability continue to erode middle-class security. The warning is clear. Ignoring this trend is not just an economic mistake. It is a political and social one with far-reaching consequences.
Addressing this crisis requires urgent and targeted action. In Nigeria, policies that protect wages, promote entrepreneurship, improve healthcare and education, and stabilize housing costs are essential. Globally, governments must recognize that the erosion of the middle class is a structural threat, not a temporary anomaly. The middle class is not a luxury. It is the backbone of societal resilience. As it shrinks, so too does the promise of progress, democracy, and opportunity, both at home and across the world.
– Inah Boniface Ocholi writes from Ayah – Igalamela/Odolu LGA, Kogi state.
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