Peter Obi, the Labour Party (LP) candidate in the 2023 presidential election, has criticized President Bola Tinubu’s administration for what he describes as poor economic management. Speaking in an interview on Arise News Prime Timeon Tuesday, Obi argued that Tinubu’s economic policies—such as floating the naira without a strong production base—have worsened Nigeria’s financial crisis.
According to Obi, if he were president, the country would have seen drastic positive changes within two years. He pledged that his administration would have invested borrowed funds in critical sectors, tackled corruption head-on, and reduced the cost of governance.
Obi on Tinubu’s Economic Failures
Obi expressed concerns over the country’s rising debt profile and high-interest rates, which he believes have stifled business growth.
“The current administration met a debt of about ₦17 trillion; in two years, it has risen to over ₦170 trillion. The cost of debt servicing is now higher than the budget for crucial sectors like health and education. Seventy percent of our primary healthcare centers are non-functional. If I were president, I would have fixed our healthcare system and primary schools,” he stated.
The former Anambra governor also criticized the Central Bank of Nigeria’s high-interest rates, which he said have made it difficult for businesses to thrive.
“You can’t run an economy where interest rates are over 40%. Who can do business under such conditions?” Obi questioned.
On the State of Democracy and Opposition
Obi accused the Tinubu administration of suppressing opposition voices and using intimidation tactics. He claimed that Nigeria’s political system is designed to prevent opposition from thriving, citing the recent political crisis in Rivers State and the declaration of emergency rule.
“There is no democracy without a functional legislature and an independent judiciary. People are being detained for what they say. I am also harassed every day,” he lamented.
He further argued that in true democracies, opposition parties are allowed to function properly. He cited South Africa as an example, where opposition parties have proportional representation and lawmakers face consequences for switching parties.
Labour Party Crisis and 2027 Elections
Obi confirmed that he remains a member of the Labour Party despite the internal crisis, which he alleged was fueled by the federal government. However, he emphasized that his focus is on saving Nigeria rather than pursuing power for its own sake.
“I am reluctant to talk about 2027. Yes, I am part of the coalition. But whatever alignment must focus on the country’s future, not just seizing power. I am not desperate to be President, but I am desperate to see Nigeria work,” he said.
Obi reiterated that he is working with Atiku Abubakar and other political forces, not for personal ambition but for national progress. He maintained that any future alliance must prioritize reforms in education, healthcare, and economic stability.
Conclusion
Peter Obi’s latest comments reflect his continued critique of the Tinubu administration’s policies, particularly on economic management and governance. As political alliances shape up ahead of the 2027 elections, his statements indicate that he remains a key figure in Nigeria’s opposition movement.
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