Nigeria @65: Peter Obi Says Nation Betrayed by Leadership Failures

The 2023 Presidential Candidate of the Labour Party (LP), Mr. Peter Obi, has lamented what he described as decades of leadership betrayal that have hindered Nigeria’s socio-economic growth. In a national broadcast to mark the country’s 65th Independence Anniversary on Wednesday, Obi said Nigeria has consistently fallen short of the vision of its founding fathers due to successive governance failures.

Obi recalled that at independence in 1960, Nigeria was widely tipped to emerge as a continental economic and political powerhouse, with global recognition of its potential. “Our founding fathers fought for independence with confidence and determination to build a prosperous country capable of standing shoulder to shoulder with the world’s most advanced nations. Sadly, this vision has been betrayed by leadership that enriches a few while impoverishing the majority,” Obi remarked.

Obi noted that international observers, including Time Magazine, once projected Nigeria as a future African superpower. However, the country, he said, has drifted from this trajectory due to corruption, poor governance, and wasteful policies that have undermined national development.

Economic Decline and Governance Failures

The former Anambra State governor drew attention to Nigeria’s worsening economic outlook, comparing past achievements to current realities. He explained that by the end of 2007, Nigeria’s total debt was about ₦2.5 trillion—only 10 percent of GDP—thanks to debt forgiveness secured under President Olusegun Obasanjo. By 2014, he noted, Nigeria had become Africa’s largest economy and was positioned to attain middle-income status.

However, Obi said the past decade has reversed these gains. He blamed the All Progressives Congress (APC)-led government for what he described as “a decade of economic decline and worsening poverty.” He stated: “Today, our total debt stands at about ₦175 trillion—nearly 50 percent of GDP—with no visible improvement in productive sectors. Nigeria has now fallen to the fourth-largest economy in Africa, behind South Africa, Egypt, and Algeria.”

Obi further criticised the Tinubu administration for introducing harsh tax policies, reckless borrowing, and official extravagance while failing to address insecurity. He added that within just one year, more than 15 million Nigerians have been pushed into extreme poverty, while over 150 million citizens lack access to basic healthcare, education, clean water, and sanitation.

Obi Call for Competent and Compassionate Leadership

Despite painting a grim picture, Obi insisted that Nigeria’s path to greatness remains possible if it embraces competent and compassionate leadership. He stressed that disciplined economic management, investment in human capital, rule of law, and infrastructure development are essential for national transformation.

“Our priority must be prudent economic management, investment in human capital, rule of law, and infrastructure development. We must mobilise our enormous natural resources to drastically reduce poverty and achieve rapid, sustained growth,” he said.

Drawing comparisons with countries like China, India, Indonesia, and Bangladesh, Obi maintained that disciplined and people-focused policies could turn Nigeria around. “Nigeria too can rebound—but only if we exit the path of incompetence and fiscal irresponsibility,” he concluded.