Former Anambra State Governor, Peter Obi, has leveled a serious accusation against the All Progressives Congress (APC).
He noted that its decade of leadership has squandered the nation’s potential since its independence.
He spoke at a press briefing in Abuja on Wednesday regarding the state of the nation.
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Obi highlighted that after overcoming military rule in 1999, Nigeria began a renewed journey toward prosperity and democracy, which led to the development of Africa’s largest economy and stronger democratic institutions.
However, he stated, “But over the last decade, under the APC’s incompetent, divisive, and corrupt leadership, Nigeria has been greatly diminished.”
Obi, the Labour Party’s presidential candidate in 2023, reflected that at the time of independence in 1960, Nigeria was positioned to be not just the powerhouse of Africa but a significant global player.
He criticised the current administration’s economic policies, noting that its actions, including a pursuit of more tax revenue, have driven more than 15 million people below the poverty line in just its first year.
This is despite citizens receiving little or nothing in return for their contributions.
“Today, the picture is bleak,” Obi stressed, pointing to the nation’s soaring debt, which now stands at approximately N175 trillion, equating to nearly 50% of the Gross Domestic Product (GDP), without any corresponding growth in productive sectors.
He further lamented that Nigeria has fallen to the fourth-largest economy in Africa, surpassed by South Africa, Egypt, and Algeria, and that its democracy is now characterized as undemocratic.
The former governor did not spare the APC-led government for what he termed reckless borrowing, which he believes has exacerbated the nation’s poverty while the leadership indulges in luxury.
Obi pointed out that over 150 million Nigerians currently lack access to basic necessities like healthcare, education, clean water, and sanitation.
This number, he argued, is rapidly increasing under an APC administration that prioritizes aggressive, revenue-driven policies while neglecting the well-being of its populace.
He noted that Nigeria’s ranking on global human development indicators is now among the lowest.
He accused the government of heavily taxing struggling citizens and small businesses while simultaneously engaging in extravagance.
He cited the expenditure of billions on luxury items like new presidential jets, yachts, and high-end vehicles—costs that, according to him, exceed the entire primary healthcare budget for 2024.
Regarding insecurity, Obi claimed that billions of naira have been paid out as ransom, leaving Nigerians feeling increasingly unsafe due to a perceived lack of clear leadership and strategic direction in tackling the crisis.
Despite the challenges, Obi expressed confidence that Nigeria can overcome its current state with leadership that is competent, compassionate, and focused on the populace, citing successful turnaround stories from nations such as Indonesia, Bangladesh, and India as proof.
He urged Nigerians not to despair over the current administration’s failures, but rather to use them as motivation to rebuild.
“Nigeria has the resources, talent, and resilience to become an industrialised nation in record time”, he said.
Obi believes that the right leadership can defeat terrorism, restore nationwide security, and ensure safe communities where business and social life can flourish.
He called for an end to a political system where leaders feast while the people starve, where politics enriches a few and impoverishes the many.
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He stated that the old politics must end, to be replaced by a new politics of prosperity designed to benefit everyone.
Obi’s remarks come as President Bola Tinubu, during his nationwide address for Nigeria’s 65th independence anniversary, assured citizens that recent administration reforms mean the worst is over and that the nation has finally turned the corner.
