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The Labour Party (LP) presidential candidate in the 2023 election, Peter Obi, has slammed President Bola Tinubu’s administration for its failure to effectively implement economic policies, accusing the government of worsening Nigeria’s financial situation.
In a Tuesday interview on Arise News Prime Time, Obi, who is also a former governor of Anambra State, expressed dissatisfaction with President Tinubu’s economic decisions, particularly the move to float the naira in the absence of increased productivity.
He also pointed out that the administration had significantly increased Nigeria’s debt profile and the cost of servicing the debt, surpassing the budgetary allocations for critical sectors like health and education.
Naija News reports that Obi criticized the administration for what he described as a lack of tangible economic improvements, noting that under his leadership, Nigeria would have witnessed drastic positive changes in just two years.
He emphasized that the focus would have been on boosting productivity to achieve a more sustainable and robust economy.
“If I were the President, we would have seen considerable changes in critical areas within two years. I would have injected money into productivity to create a more sustainable economy. You can change things in two years,” Obi said.
He added, “The President that is there today, how many years has he stayed? Two years, and look at the turn of things. It means you can change things in two years. If I were there, I would have tackled corruption head-on and reduced the cost of governance. You would have seen borrowed money invested in critical areas.”
The former governor also took issue with the rising interest rates under President Tinubu, which he claimed have made it increasingly difficult for businesses in the country to thrive. He stated that the government’s inability to manage debt effectively had led to an unsustainable situation.
“We have a country that is in huge debt. The current administration met a debt of about ₦17tn, and in two years, it has moved to over ₦170tn. The cost of debt servicing is above the budget for critical areas like health and education,” Obi noted.
He further criticized the state of Nigeria’s healthcare and education systems, pointing out that 70 percent of the country’s primary health care centres were non-functional. “I would fix our PHCs and primary schools if I were President,” he added.
Obi called for greater accountability from President Tinubu, stating that it was not enough for the President’s aides to be active in their duties. According to him, leadership requires direct involvement and responsibility, which he felt was lacking in the current administration.
“It is not enough that your aides are running around. You, as the leader, have to have the idea, the energy, and the competency to do the job. It is not something that you can lease out. You are the leader; you should be answerable to the people,” Obi stated.
He concluded by expressing his concern over what he described as a “delegated responsibility” in the current government, urging that leaders take direct responsibility for the country’s challenges.
