Former Anambra State Governor and Labour Party’s 2023 presidential candidate, Peter Obi, has strongly criticized the economic policies of President Bola Tinubu’s administration, arguing that poor governance and a lack of productivity have deepened Nigeria’s economic crisis.
Speaking in an interview on Arise News Prime Time on Tuesday night, Obi condemned the decision to float the naira without a solid foundation for increased productivity, as well as the rapid rise in the country’s debt profile.
He lamented that the cost of debt servicing now exceeds budget allocations for critical sectors like health and education.
Drawing a direct contrast, Obi argued that if he had been elected president, Nigeria would have experienced “drastic positive changes” within two years.
“The President has been in office for almost two years, and look at where we are. It means you can change things in two years. If I were there, you would have seen considerable improvements in critical areas. I would tackle corruption head-on and reduce the cost of governance. Every borrowed naira would be invested in key sectors,” Obi stated.
He expressed concerns about Nigeria’s growing interest rates, which he said have made it increasingly difficult for businesses to survive.
“The current administration inherited a debt of about N17 trillion; today, it is over N170 trillion. Companies are shutting down because of an interest rate of over 40%. How do you expect businesses to thrive?” he asked.
Obi further emphasized that under his leadership, primary healthcare centers and schools would have been a top priority, noting that more than 70% of PHCs are currently non-functional.
Amid the internal wrangling in the Labour Party (LP), Obi accused the federal government of fueling the crisis to destabilize the opposition. However, he reaffirmed his loyalty to the party, adding that any change in his political affiliation would be announced openly.
“I am still in the Labour Party. The disarray you see in LP is caused by the federal government. If there’s any change, I will let Nigerians know,” he said.
On his ongoing discussions with Atiku Abubakar and other political leaders, Obi insisted that his priority is Nigeria’s progress, not personal ambition.
“Elections are won and lost by the votes of the people. But we are not in a democracy yet. I am working with others, not because I am desperate to be president, but because I am desperate to see Nigeria work.”
The former presidential candidate also criticized the federal government’s handling of the Rivers State crisis, which escalated into a declaration of a state of emergency.
“What happened in Rivers State was unfortunate. Some people made the state ungovernable for political reasons. Declaring a state of emergency weakens the little democracy we have left,” Obi lamented.
He accused the current administration of stifling opposition and free speech, pointing out that political persecution and intimidation have become commonplace.
“There is no democracy without a functional legislature and an independent judiciary. Today, people are being detained for expressing their opinions. I face harassment every day. The Nigerian political space is designed to suppress opposition, unlike South Africa, where proportional representation strengthens democracy,” he added.
When asked about his plans for the 2027 presidential election, Obi remained cautious, insisting that his current focus is on fixing Nigeria rather than securing power.
“Yes, I am part of the coalition, but any alliance must prioritize Nigeria’s future. We need to invest in education, health, and infrastructure—not just seek power for its own sake. I am not desperate to be president, but I am desperate to see Nigeria work,” he reiterated.
© Ripples Nigeria
