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Peter Obi Chides FG, Says Poverty on the Increase, Unemployment Rising
The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has criticized Nigerian leaders for their misplaced priorities amidst the country’s declining economic fortune. Obi, in a social media statement, noted that Nigeria’s GDP growth rate plummeted from 6.72% between 1999-2014 to 2.79% in 2015, followed by a recession in 2016 with a negative growth rate of -1.58% and 0.82% in 2017.
He lamented that the country’s economy has regressed significantly over the past nine years, with Nigeria losing its position as Africa’s largest economy. He said, “When Nigeria returned to democratic governance in 1999, it maintained an average GDP growth of about 6.72% for 16 years from 1999-2014. The impressive growth trajectory, unfortunately, was not sustained by the then-new government and our GDP growth collapsed to 2.79% in 2015 and then sank into a recession in 2016 with a negative growth of -1.58% and 0.82% in 2017. For the past 9 years, Nigeria’s economy has seen unprecedented retrogression on many fronts.
“In 2014, just before the inception of a new administration a year later, Nigeria had the biggest economy in Africa with a Gross Domestic Product of $568.5 billion and a GDP Per Capita of about $3,200.
“Our economic indices pointed towards hope and prospects for the future growth of the economy. Nine years later, the giant of Africa has retrogressed to the 4th largest economy in Africa.
“Reports showed our GDP in 2023 stood at $375 billion with a per capita of $1700. In 2024, our estimated GDP declined further to $253 billion with an estimated per capita of $1087. These trends and figures show how our 9 years journey since 2015 has resulted in a sharp decline in our national prosperity.”
He added, “Today, poverty is pervasive and on the increase. Unemployment is rising. Food inflation has skyrocketed to over 43%.
Foreign and local investors are losing faith in the future growth of our economy and are leaving in large numbers.
“Businesses are shutting down. Urgent actions need to be taken to salvage the nation from further economic collapse and move it from consumption to production.” Instead of addressing these pressing issues, Obi accused leaders of prioritizing their selfish luxuries and lavishness while blaming others for the country’s problems.
According to him, politics should focus on serving the people and bettering society, committing to inclusive and sustainable growth to alleviate hardship and achieve a peaceful and secure society.
Former Military President, Gen Ibrahim Badamasi Babangida (IBB), is set to launch his long-awaited autobiography.
Reports said the memoir titled: ‘A Journey In Service’, will be released on February 20, 2025, at the Congress Hall of Transcorp Hilton Hotel in Abuja.
The development is coming 32 years after IBB left office.
The regime of the former Head of State was negatively shaped and defined by the adoption of the Structural Adjustment Programme (SAP) policy, among other regulations, which sparked a nationwide riot by student union and other similar groups.
There was also the unresolved murder of the late journalist, Dele Giwa, and the June 12 annulment, among other controversial issues.
While in office, IBB was popular with the moniker “evil genius” and “Maradona”.
Explaining the nicknames, IBB said they were manufactured by the media because of his “deft political moves”.
“That’s the very good thing about the Nigerian media and Nigerian people. You have to anticipate them.
“If you anticipate them, then you live well with them. They call me ‘evil genius’, I marvel at that. The contradiction, you can’t be evil and then be a genius.”
“The definition of Maradona I got from the media is because of deft political moves. That’s the way the media described it”, he had said.
He succumbed to pressure in August 1993 when he “stepped aside” for the late Ernest Shonekan as the chairman of the Interim Government.
The late General Sanni Abacha would, however, topple the government in 1993 and would subsequently die in office in 1998.
Although IBB granted interviews to local and international media since leaving office, he has somehow found a way around some of these contentious issues that happened during his rule.
About seven years ago, he had expressed doubts about writing an autobiography, saying he was uncertain if Nigerians would “want to read about a dictator”.
He added that the public had a wrong impression of him, citing his role in the June 12 crisis, and some of the policies he unfurled between 1985 and 1993 as head of a junta.
However, he made a U-Turn and wrote the book.
President Bola Ahmed Tinubu will lead former Nigerian leaders and their counterparts in other parts of Africa to grace the much awaited autobiography.
According to an invite dispatched to dignitaries this week, the board of trustees of the IBB Presidential Library Foundation said the book launch will take place alongside fundraising for a Presidential Library.
The organisers said the event would be chaired by former President Olusegun Obasanjo, with President Bola Tinubu as the Special Guest of Honour.
The keynote address would be delivered by the former president of Ghana, Nana Akufo-Addo, while former vice-president Yemi Osinbajo would review the autobiography.
Other guests billed to attend include ex-presidents Muhammadu Buhari, Yakubu Gowon, Abdulsalami Abubakar, and Goodluck Jonathan.
A former Minister of Defence Gen. Theophilus Danjuma and Chairman of BUA Group; Abdul Samad Rabiu, are named chief launchers.
Members of the National Working Committee (NWC) of the Peoples Democratic Party (PDP) have expressed support for the recent court ruling that nullified the party’s congresses in Rivers State.
The NWC members made their position known during a visit to Governor Siminalayi Fubara at the Government House in Port Harcourt on Wednesday night, where they also held a closed-door meeting with the Governor.
The delegation included the PDP National Publicity Secretary, Debo Ologunagba.
Speaking after the meeting, the National Treasurer, Ahmed Mohammed, reaffirmed Governor Fubara’s status as the party leader in Rivers State.
He described their visit as part of an effort to realign the party and strategize for a comeback in the 2027 elections.
Mohammed stated their commitment to fostering unity, stability, and effective repositioning in the State.
He also expressed the NWC’s support for Ude Okoye, who was recently reinstated as the party’s National Secretary by the Court of Appeal.
Mohammed urged party stakeholders and governors to rally behind Okoye for the party’s progress.
The visit comes just days after PDP Youth leaders from across the country met with Governor Fubara in a bid to resolve internal party crises, with a focus on affirming his leadership in the state.
The court ruling that nullified the Ward, Local, and State congresses, which were won by allies of the Minister of the Federal Capital Territory, Nyesom Wike, has created ripples within the party.
The congresses, which were held last year, were marred by conflicting court orders, with a State High Court restraining the exercise while a Federal High Court allowed it.
Following the nullification, an interim committee emerged, saying it will oversee the leadership of the party in Rivers State.
Justice Chukwujekwu Aneke of the Federal High Court in Ikoyi, Lagos, has denied the request of Economic and Financial Crimes Commission (EFCC) to issue an arrest warrant for Dr Oba Otudeko, Dr Bisi Onasanya and others due to lack of formal service on the defendants.
The court addressed multiple motions during the session, including the Prosecutor’s request for a warrant of arrest, which the Judge rejected due to the lack of formal service to the defendants. The Judge, therefore, granted an application for substituted service.
Bode Olanipekun, appearing for Dr Otudeko, sought an order restraining parties from irresponsible use of the media, Thus, the Judge advised all parties to exercise restraint in media engagement and urged journalists present to ensure accurate reporting of court proceedings.
The case has brought the EFCC under scrutiny for allegedly flouting procedural norms.
Critics have faulted the agency for going public with the charges without first formally serving Otudeko and other implicated parties. Legal experts argue that this approach undermines the principle of fair hearing and could prejudice the public against the accused.
The case has been adjourned to February 13 for arraignment.
