*Accuses Tinubu Of Delivering On Promises That Worsen Nigeria’s Economy And Erode Democracy
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Peter Obi, the Labour Party’s 2023 presidential candidate, has accused President Bola Tinubu of delivering on promises that have worsened Nigeria’s economy and eroded its democracy.
In an exclusive Prime Time interview with Arise News, Obi claimed that while reforms take time, Nigerians lack a clear roadmap for their sacrifices, hinting at a 2027 bid to turn the nation around.
In a scathing critique, Obi asserted that Tinubu is “doing fantastically what he promised”—continuing from where the previous administration left off, but with disastrous results. “He met $1 at about N400 and took it to N1,500,” Obi said, sarcastically criticizing the devaluation, alongside rising unemployment and democratic backsliding. Speaking on April 1, 2025, he argued that two years into Tinubu’s term, Nigeria has slid further downward, with companies shutting down, manufacturing declining, and citizens unable to feel any of the touted improvements.
Obi challenged claims of economic progress, questioning the government’s narrative of restored international confidence and fiscal prudence. “Where are the jobs? Where are the investors?” he asked, dismissing assertions of petrol price drops—still near N1,000 from N200—as meaningless without income growth. He criticized the removal of fuel subsidies, asking, “They said there are huge savings… where is the money being channeled?” He pointed to neglected sectors like education and health, noting that over 20 million children are out of school and 70% of primary healthcare centers are non-functional.
The former Anambra governor contrasted Tinubu’s approach with his own vision, claiming he could transform Nigeria in two years by tackling corruption head-on, cutting governance costs, and injecting funds into productivity. “I would have allowed the naira to float, but with productivity,” he said, arguing that devaluation without output is a “double whammy.” He cited Bangladesh’s rice production—60 million metric tons on 148,000 square kilometers—versus Nigeria’s failure to hit 10% of that on six times the land, blaming high interest rates above 40% that stifle business growth.
Obi accused Tinubu of mismanaging borrowed funds, noting that the national debt ballooned from N17 trillion in 2015 to over N170 trillion, with servicing costs outstripping budgets for health and education. “We spent N35 billion on a conference center… while IDP camps lack schools,” he said, recounting a visit to an Abuja camp with 4,000 people and no facilities. He promised that if elected president, he would fix primary schools and healthcare, redirecting resources to “critical areas of development.”
On democracy, Obi declared that Nigeria is “not a democratic country,” citing the lack of a functional legislature, independent judiciary, and free speech. “I’m harassed every day,” he revealed, alleging government intimidation of opposition voices. He condemned the Rivers State emergency rule as “unfortunate,” suggesting it was a tactic to suppress governors ahead of 2027, further eroding democratic space. “The National Assembly’s voice vote… completely eroded trust,” he added, lamenting the absence of opposition vigor, even from Labour Party lawmakers.
Obi blamed Nigeria’s political structure for stifling dissent, contrasting it with South Africa’s proportional representation system, where opposition thrives. “Here, you cross parties with no consequence,” he said, advocating constitutional reform to bolster democracy. He vowed that if elected, he would ensure political parties function properly and that opposition voices are strengthened, citing the late President Yar’Adua’s efforts as a model.
Looking ahead to 2027, Obi remained coy but engaged. “I’m not desperate to be president, but I’m desperate to see Nigeria work,” he insisted, dismissing suggestions that he should run as Atiku Abubakar’s deputy in a northern handover. “Elections are won by votes… not by alliances for power’s sake,” he said, emphasizing a coalition focused on education, health, and poverty reduction. He affirmed his Labour Party membership despite its “government-caused” disarray, promising clarity if his plans change.
Obi criticized Tinubu’s leadership style, arguing, “It’s not enough that your aides run around. You must have the idea, energy, and competency… You can’t lease out governance.” His 2027 pitch, he hinted, would center on accountability, contrasting it with Tinubu’s delegated approach. Offering hope, he said Nigeria’s woes “can be turned around with a competent leader,” citing “low-hanging fruits” like enforcing the rule of law, fighting corruption, and making strategic investments. “I’d address Nigerians monthly, visit schools, and see things for myself,” he pledged.
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