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FG More Interested In Selfish Luxuries Than Solving Economic Problems – Peter Obi
Peter Obi says FG is more interested in selfish luxuries than solving economic problems.
Eko Hot Blog reports that Peter Obi, the 2023 presidential candidate of Labour Party (LP), has tackled the Federal Government for having misplaced priorities.
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He accused the President Bola Tinubu-led administration of neglecting many economic and national challenges, while pursuing “individual lavishness” and blame games against people committed to solving the nation’s problems.
Obi launched the criticisms in a series of tweets on X on Monday.
The former Anambra governor noted that when Nigeria returned to democratic governance in 1999, it maintained an average GDP growth of about 6.72% for 16 years from 1999 until 2014.
He stated that the “impressive growth trajectory”, however, was not sustained by the then-new government of former President Muhammadu Buhari who assumed office on May 29, 2015.
Former President Muhammadu Buhari and President Bola Tinubu at the Presidential Villa on May 26, 2023
Obi said Buhari’s successor, President Tinubu, who is also of the All Progressives Congress (APC), has continued the poor economic growth trajectory.
“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,” Obi said.
“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.”
Labour Party (LP) presidential candidate, Peter Obi
The former presidential candidate lamented that these trends and figures show how “our 9 years journey since 2015 has resulted in a sharp decline in our national prosperity.”
“Today, poverty is pervasive and on the increase. Unemployment is rising. Food inflation has skyrocketed to over 43%,” he noted.
“Foreign and local investors are losing faith in the future growth of our economy and are leaving in large numbers. Businesses are shutting down.
Obi, therefore, called for urgent actions to be taken to salvage the nation from further economic collapse and move it from consumption to production.
“However, instead of concerning ourselves with all these challenges threatening our collective existence and finding ways to recreate an inclusive and sustainable economy, pull millions of people out of poverty, and return our nearly 20 million out-of-school children to schools, our leaders are more concerned with funding their selfish luxuries and individual lavishness, while throwing blames at others who are only committed to solving the nation’s problems,” he further complained.
“I have always believed that politics should be about service to the people and the betterment of society. In the face of all these challenges, we the leaders should commit to inclusive and sustainable growth to end the hardship which has continued to burden our fellow Nigerians.
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“Only through that can we achieve a peaceful and secure society. A New Nigeria based on better economic and patriotic thinking is very POssible.”
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